Press release
Limb Prosthetics Market Size Projected To Reach $2.38 Billion By 2034 With A Cagr Of 7.6%
Limb Prosthetics Market
What Is the Projected Growth of the Limb Prosthetics Market?
The limb prosthetics market size has increased significantly in recent years. It will grow from $1.64 billion in 2024 to $1.78 billion in 2025 at a compound annual growth rate (CAGR) of 8.0%. The historic growth is due to greater awareness of prosthetic options, better access to healthcare, advancements in surgical techniques and rehabilitation, use of carbon fiber, and a greater focus on quality of life.
The limb prosthetics market is expected to reach $2.38 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.6%. This growth is driven by increased trauma incidences, government and insurance support, expanding healthcare infrastructure, and advances in bionic and neural prosthetics. Key trends include enhanced control, advanced materials, affordability, regenerative medicine integration, and user-centric designs.
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What Are the Different Limb Prosthetics Market Segments?
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 Are the Primary Drivers Shaping the Limb Prosthetics Market?
The increase in road accidents is anticipated to drive the growth of the limb prosthetics market. Rising road accidents, attributed to factors such as more vehicles, distracted driving, speeding, and poor road conditions, lead to the need for prosthetics. These devices offer functional replacements for lost or damaged limbs, improving mobility and quality of life for accident survivors through advanced technology and customization. For example, in October 2023, Brake, a UK-based road safety charity, reported that 1,766 fatalities and 28,941 serious injuries occurred due to accidents in 2022, marking a 10% rise in deaths from 2021. Thus, increasing accidents are contributing to the growth of the limb prosthetics market.
Which Companies Are Leading in the Limb Prosthetics Market?
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
What Are the Latest Developing Trends in the Limb Prosthetics Market?
Companies in the limb prosthetics market are focused on developing actively powered microprocessor prosthetic knees to provide more personalized and intuitive solutions. These knees use sensors and microprocessors to adjust resistance and movement for improved gait and stability. For instance, in February 2022, Össur hf, an Iceland-based non-invasive orthopedics manufacturer, introduced the Power Knee, the world's first actively powered microprocessor prosthetic knee. It adapts to the wearer's movement patterns in real-time, providing active assistance while navigating various surfaces, inclines, and obstacles.
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What Are the Top Revenue-Generating Geographies 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Limb Prosthetics Market?
2. What is the CAGR expected in the Limb Prosthetics Market?
3. What Are the Key Innovations Transforming the Limb Prosthetics Industry?
4. Which Region Is Leading the Limb Prosthetics Market?
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