Global Artificial Limbs Market Projected to Surpass $3.5 Billion by 2029 with 7% Annual Growth

What Are the Market Size and Growth Forecast for the Artificial Limbs Market?
In the past few years, there has been robust growth in the size of the artificial limbs market. It is projected to increase from a value of $2.52 billion in 2024 to $2.7 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.1%. This historic growth pattern has been fueled by factors such as the rising rate of limb amputations, improvements and wider accessibility to healthcare and prosthetic services, an increase in awareness and acceptance level, support and funding from government entities, and the incorporation of cutting-edge technologies like 3D printing and robotics.

The market for artificial limbs is anticipated to experience significant growth in the forthcoming years, expanding to a value of $3.5 billion by 2029, portraying a compound annual growth rate (CAGR) of 6.7%. The expected growth during this forecast period is tied to factors such as increased incidence of chronic conditions, improvement and expansion of healthcare facilities, betterment of rehabilitation services, and heightened awareness and acceptance. Key trends during this period are likely to be the use of 3D printing technology, creation of bionic limbs integrated with advanced sensors, incorporation of wearable sensors, advancement in robotic prosthetics, and the development of interfaces that are more user-friendly.

What Is Contributing to the Growth of the Artificial Limbs Market?
The rise in vehicular collisions and other trauma incidents on the road is anticipated to fuel the expansion of the artificial limbs market. Road accidents and injuries can result in severe damage to both drivers and pedestrians. This surge is linked to causes such as inattentive driving, high speeds, inadequate road quality, and insufficient safety precautions. Victims of these accidents can reap substantial advantages from artificial limbs, as they help reinstate motor abilities and functionality while enhancing their quality of life. Prosthetic limbs grant individuals the capacity to regain the use of their legs or hands to walk, run or handle objects depending on which limb is replaced. For instance, according to data from Bake, The Road Safety Charity, a government organization based in the UK, in October 2023 the number of fatalities from road accidents in the UK saw a 10% spike, with 1,766 deaths recorded in 2022, of which 1,711 took place in Britain and the remaining 55 in Northern Ireland. Hence, the rise in road accidents and traumas is promoting the growth of the artificial limbs market.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=20486&type=smp

Which Key Market Leaders Are Driving Artificial Limbs Industry Growth?
Major companies operating in the artificial limbs market are Cadence Inc., Nabtesco Corporation, Otto Bock HealthCare GmbH, DJO Global Inc., Össur hf, Hanger Inc., Blatchford Group, Trulife Ltd., Steeper Group Ltd., Fillauer LLC, Orthomerica Products Inc., Cascade Orthopedic Supply LP, The Ohio Willow Wood Company, Spinal Technology Inc., College Park Industries Inc., Comprehensive Prosthetics & Orthotics USA, ALPS South LLC, Touch Bionics Inc., Streifeneder USA Inc., Ekso Bionics Holdings Inc., Freedom Innovations LLC, Proteor USA LLC, United Prosthetics Inc., Liberating Technologies Inc., Naked Prosthetics Inc., Kinetec USA Inc., Endolite North America Inc., Medicare Inc.

Which Key Market Leaders Are Driving Industry Growth?
Numerous prominent businesses within the artificial limbs industry are investing in the creation of inventive merchandise, like motor-powered knees, to improve prosthetic limbs' efficiency and flexibility. Motor-powered knees, a sophisticated type of prosthetic knee joint, employ motors to manipulate the leg's flexing and straightening, thus emulating the movements of a natural knee. For example, in February 2022, Össur hf, a firm based in Iceland that specializes in non-invasive equipment, unveiled prosthetic knees designed to aid individuals with limb discrepancies or above-knee amputations. This novel knee features a motorized component that boosts the device's potential and adjustability. The highlight of this device is a sophisticated real-time gait analysis system that could dynamically modulate the knee's actions to cater to the individual's walking pattern and ground conditions. Consequently, it delivers a seamless and more natural movement, ultimately ameliorating the patient's mobility and comfort.

What Are the Main Segments in the Artificial Limbs Market?
The artificial limbs market covered in this report is segmented -

1) By Product: Upper Extremity, Lower Extremity, Liners, Sockets, Other Products
2) By Material: Titanium, Plastics, Other Materials
3) By Technology: Body Powered Or Cable Powered, Cosmetic Prosthetics, Myoelectric Or Electrically Powered, Other Technologies
4) By End User: Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, Rehabilitation Centers, Prosthetic Clinics

Subsegments:
1) By Upper Extremity: Prosthetic Arms, Prosthetic Hands, Elbow Joints, Wrist Joints
2) By Lower Extremity: Prosthetic Legs, Prosthetic Feet, Knee Joints, Ankle Joints
3) By Liners: Silicone Liners, Gel Liners, Thermoplastic Liners
4) By Sockets: Hard Sockets, Soft Sockets, Adjustable Sockets
5) By Other Products: Accessories, Maintenance Kits, Customization Tools

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/artificial-limbs-global-market-report

Which Geographic Area Leads the Artificial Limbs Market?
North America was the largest region in the artificial limbs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial limbs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Artificial Limbs Global Market Report?

- Market Size Analysis: Analyze the artificial limbs Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the artificial limbs 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 artificial limbs market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the artificial limbs market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20486

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.