Rising Accidents Is Driving The Growth Of The Limb Prosthetics Market Driver: A Major Catalyst in the Evolution of the Limb Prosthetics Market in 2025

How Is the Limb Prosthetics Market Projected to Grow, and What Is Its Market Size?
The market for limb prosthetics has seen commendable growth in the previous years. Expected to grow from a value of $1.64 billion in 2024 to $1.78 billion in 2025, it is projected to have a compound annual growth rate (CAGR) of 8.0%. The remarkable advancement in the past can be credited to enhanced understanding of prosthetic choices, better availability of healthcare services, advancements in surgical methods and recuperation practices, application of carbon fiber, and a heightened emphasis on improving the quality of life.

We can anticipate a robust growth in the limb prosthetics market size in the coming years. The market is projected to expand to $2.38 billion by 2029, with a compound annual growth rate (CAGR) of 7.6%. This forecasted growth can be associated with various factors such as an increase in trauma cases, governmental and insurance support, expansion in medical tourism, evolving healthcare infrastructure, and progresses in neural and bionic prosthetics. Notable trends during this forecast period comprise of improved control and functionality, breakthroughs in materials and manufacturing, better affordability and availability, incorporation of regenerative medicine and biotechnology, and an emphasis on design and experience that cater to the user.

What Are the Key Drivers Behind the Growth of the Limb Prosthetics Market?
Growth in the limb prosthetics market is anticipated to be driven by the escalating number of road accidents. Factors such as growing vehicle traffic, distracted driving, speeding, and unsatisfactory road conditions contribute to the significant increase in road accidents. Limb prosthetics serve as a crucial aid for survivors of road accidents, as they offer functional substitutes for lost or severely damaged limbs and augment mobility, enhancing user's life quality due to advanced technology and tailor-made features. To illustrate, Brake, a road safety charity in the UK, reported in October 2023 that there were 1,766 deaths and 28,941 severe injuries due to road accidents in 2022, signifying a 10% rise in fatalities in comparison to 2021. Consequently, the escalating accident rates are propelling the growth of the limb prosthetics market.

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Who Are the Major Industry Players Fueling Limb Prosthetics Market Expansion?
Major companies operating in the limb prosthetics market are Össur Kristinsson, Ottobock SE & Co. KGaA, Hanger Inc., Kare Enterprise Private Limited, Blatchford Limited, Endolite India Ltd., Trulife India Private Limited, Steeper Inc., Uniprox GmbH & Co. KG, College Park Industries, Fillauer LLC, Freedom Innovations LLC, Silipos Holding LLC, ST&G Corporation, WillowWood Global LLC, Ortho Europe Ltd., ALVI Labs, BioGrip GmbH, Toughware Prosthetics, ALIMCO (Artificial Limbs Manufacturing Corporation of India), Streifeneder USA

Which Key Developments Are Influencing the Limb Prosthetics Market?
Leading firms in the limb prosthetics market are concentrating on creating microprocessor prosthetic knees with active power, aiming to provide prosthetic solutions that are more tailor-made and instinctive. These active powered microprocessor prosthetic knees employ sensors and microprocessors to dynamically modify resistance and movement, thereby enhancing gait and stability. For instance, in February 2022, an Iceland-based non-invasive orthopedics firm, Össur hf, unveiled the Power Knee. This is the first microprocessor prosthetic knee with active power in the world, and it's been designed to increase mobility and independence for people with limb differences or above-knee amputations. Advanced algorithms are utilized by the Power Knee to identify human movement patterns, and adapt to the speed of the wearer in real-time. It provides active power assistance when navigating varying inclines, declines, surfaces, ramps, and stairs. The Power Knee promotes energy conservation and more symmetrical motion for the wearer, enabling them to perform tasks that were once difficult or unfeasible with standard prosthetics.

How Is the Segmentation of the Limb Prosthetics Market Defined?
The limb prostheticsmarket covered in this report is segmented -

1) By Type: Lower Limb Prosthetics, Upper Limb Prosthetics
2) By Component: Socket, Appendage, Joint, Connecting Module, Other Components
3) By Technology: Conventional Prosthetic Devices, Electric Prosthetic Devices, Hybrid Prosthetic Devices
4) By End-User: Orthotics And Prosthetics (O&P) Clinics, Orthopedic Clinics, Other End-Users

Subsegments:
1) By Lower Limb Prosthetics: Below Knee Prosthetics (BK), Above Knee Prosthetics (AK), Transfemoral Prosthetics, Transtibial Prosthetics, Knee and Ankle Prosthetics, Prosthetic Feet
2) By Upper Limb Prosthetics: Transradial Prosthetics, Transhumeral Prosthetics, Partial Hand Prosthetics, Myoelectric Prosthetics, Body-Powered Prosthetics, Prosthetic Hands

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What Is the Leading Region in the Limb Prosthetics Market?
North America was the largest region in the limb prosthetics market in 2024. The regions covered in the limb prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Limb Prosthetics Global Market Report?

- Market Size Analysis: Analyze the Limb Prosthetics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Limb Prosthetics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Limb Prosthetics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Limb Prosthetics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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