Prosthetics & Orthotics Market Size Forecasted To Achieve $11.24 Billion By 2029 With Steady Growth

The Prosthetics & Orthotics Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Prosthetics & Orthotics Market Size and Projected Growth Rate?
In recent times, the prosthetics & orthotics market has seen substantial growth. The market, which stood at $8.39 billion in 2024, is projected to increase to $8.87 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.7%. This growth in the historical period can be ascribed to factors such as the escalating occurrence of disabilities and amputations, advancements in materials along with manufacturing procedures, heightened awareness and acceptance of prosthetics, the development of healthcare infrastructure, and an increase in sports and rehabilitation activities.

In the coming years, the market for prosthetics & orthotics is projected to experience robust growth, escalating to a value of $11.24 billion by 2029 at a 6.1% compound annual growth rate (CAGR). Several factors contribute to this anticipated expansion into the forecast period, including the utilization of personalized, patient-specific prosthetic solutions, AI and robotics incorporation into prosthetics, development of sustainable and environmentally-friendly prosthetic materials, a surge in pediatric prosthetics and orthotics, and the uptake of telehealth for orthotic services. The forecast period will witness noteworthy trends such as prosthetics controlled by neurology, prosthetic safety and standards compliance, smart prosthetics offering sensory feedback, bespoke prosthetic solutions to cater to individual requirements, and improved transparency in prosthetic pricing and insurance.

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What Are the Major Segments in the Prosthetics & Orthotics Market?
The prosthetics & orthotics market covered in this report is segmented -

1) By Type: Prosthetics, Orthotics
2) By Category: Upper limb, Lower limb, Spinal
3) By Technology: Conventional, Electric-Powered, Hybrid Orthopedic Prosthetics
4) By Application: Hospitals, Clinics, Rehabilitation Centers, Other Applications

Subsegments:
1) By Prosthetics: Lower Limb Prosthetics, Upper Limb Prosthetics, Cosmetic Prosthetics, Hybrid Prosthetics, Pediatric Prosthetics
2) By Orthotics: Ankle-Foot Orthoses (AFO), Knee-Brace Orthoses, Spinal Orthoses, Wrist-Hand Orthoses (WHO), Custom Orthotics

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What Are The Driving Prosthetics & Orthotics Market Evolution?
The upsurge in sports-related injuries and cases of road accidents are a major contributing factor to the growth of the prosthetics and orthotics market. Distraction and excessive speed while driving are being cited as leading causes of road mishaps. These unfortunate incidents often result in disabilities that necessitate the utilization of prosthetics and orthotics to aid in the recovery process and the restoration of basic everyday functions. To illustrate, data released in April 2024 by the National Highway Traffic Safety Administration, a U.S. government body dedicated to transportation safety, revealed that in 2022, 3,308 lives were lost due to distracted driving, which also left an estimated 289,310 people injured. Adding on, injuries stemming from participation in sports throughout the year, especially by athletes concentrating on a single sport, are escalating. A case in point is the National Security Council, a non-profit safety proponent in the United States, which reported that in 2022, emergency departments treated 3.6 million individuals for injuries attributed to sports and recreational equipment. Ergo, the rising trend in sports injuries and road accident cases is projected to escalate the demand for prosthetics and orthotics in the projected period.

Which Firms Dominate The Prosthetics & Orthotics Market Segments?
Major companies operating in the prosthetics & orthotics market include Fillauer LLC, Bauerfeind AG, Otto Bock Healthcare GmbH, Zimmer Biomet Holdings Inc., Blatchford Limited, Ability Matters Group Ltd., Steeper Inc., Össur hf, WillowWood Global LLC, Ultraflex Systems Inc., Hanger Inc., Mobius Bionics LLC, Ohio Willow Wood Co., Esper Bionics Inc., ToughWare Prosthetics Inc., College Park Industries Inc., Hosmer Dorrance Corporation, Kingsley Manufacturing Company, Mica Manufacturing Company, Carbon Copy Pathfinder, Proteor SA, Seattle Systems Company, Bhagwan Mahaveer Viklang Sahayata Samiti, Endolite Ltd., Freedom Innovations LLC, Spinal Technology LLC, Trulife Group Limited, Fillauer Europe AB, Ortho Europe Abingdon Ltd.

What Trends Are Expected to Dominate the Prosthetics & Orthotics Market in the Next 5 Years?
A rising trend within the prosthetics and orthotics market is the adaptation of technological advancements. In an effort to cement their position in the market, leading companies are keen to offer products and services enhanced by the latest technology. They are incorporating state-of-the-art technologies like artificial intelligence (AI), automation, neuromuscular signal technology, sensory control, among others to provide seamless and more natural body movements. A case in point is Ossur, a company from Iceland that specializes in orthotics and prosthetics. They unveiled POWER KNEE in February 2022, the first active microprocessor prosthetic knee for individuals with limb differences or those who've undergone above-knee amputations. POWER KNEE applies motion by providing active powered assistance and has the ability to identify if the user is sat, stood or walking on varying terrains, elevations, or slopes.

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Which Is The Largest Region In The Prosthetics & Orthotics Market?
North America was the largest region in the prosthetics orthotics market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the prosthetics orthotics market share during the forecast period. The regions covered in the prosthetics & orthotics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Prosthetics & Orthotics Market?
2. What is the CAGR expected in the Prosthetics & Orthotics Market?
3. What Are the Key Innovations Transforming the Prosthetics & Orthotics Industry?
4. Which Region Is Leading the Prosthetics & Orthotics Market?

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