Global Limb Prosthetics Market Projected to Grow at 7.6% CAGR, Reaching $2.38 Billion by 2029

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What Will the Limb Prosthetics Industry Market Size Be by 2025?
There has been a robust growth in the limb prosthetics market size in the past few years. The market, which was worth $1.64 billion in 2024, is projected to escalate to $1.78 billion in 2025, recording a compound annual growth rate (CAGR) of 8.0%. The significant growth in the historical period is credited to factors such as enhanced knowledge of prosthetic alternatives, better availability of healthcare facilities, advancements in surgical approaches and rehabilitation methods, the adoption of carbon fiber, and a heightened emphasis on the quality of life.

What's the Long-Term Growth Forecast for the Limb Prosthetics Market Size Through 2029?
In the coming years, it's projected that the limb prosthetics market will experience significant growth, expanding to $2.38 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%. This expected growth during the forecast period is associated with increasing trauma cases, government and insurance support, an expansion in the field of medical tourism, growth of healthcare infrastructure, and advancements in bionic and neural prosthetics. Additionally, the forecast period is expected to see trends such as improved control and functionality, advancements in materials and manufacturing, enhanced affordability and accessibility, integration of regenerative medicine and biotech, and an emphasis on user-centered design and experience.

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What Are the Key Growth Drivers Fueling the Limb Prosthetics Market Expansion?
Advancements in limb prosthetics are being spurred by the growing number of road accidents. An increase in vehicle traffic, distractions for drivers, high-speed driving, and suboptimal road conditions are causing a significant increase in road accidents. Road accident survivors can benefit significantly from limb prosthetics which provide functional substitutes for lost or heavily damaged limbs, boost mobility, and enhance life quality thanks to state-of-the-art technology and personalization. For example, Brake, a UK-based road safety charity, revealed in October 2023 that 1,766 deaths and 28,941 serious injuries had resulted from road accidents in 2022 - a 10% increase in fatalities from 2021. Accordingly, the escalating number of accidents is prompting expansion in the limb prosthetics market.

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What Are the Key Trends Driving Limb Prosthetics Market Growth?
Leading enterprises in the limb prosthetics market are keen to produce actively powered microprocessor prosthetic knees which offer a more personalized and user-friendly solution. These innovative prosthetics employ sensors and microprocessors to modulate resistance and movement dynamically, enhancing gait and stability. For example, Össur hf, an Icelandic company specializing in non-invasive orthopedics, introduced a groundbreaking product, the Power Knee, in February 2022. This is the planet's first actively powered microprocessor prosthetic knee created to boost mobility and autonomy for those with above-knee amputations or limb differences. Sophisticated algorithms are utilized in the Power Knee to identify human movement patterns, allowing the device to learn and adjust to the user's speed live. This enhances prowess while manoeuvring varied surfaces, ascents, descents, stairs, and ramps. The Power Knee promotes symmetrical movement, energy conservation in users, and enables them to perform activities previously too difficult or impossible with standard prosthetics.

How Is the Limb Prosthetics Market Segmented?
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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Which Companies Are Leading the Charge in Limb Prosthetics Market Innovation?
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 Regions Are Leading the Global Limb Prosthetics Market in Revenue?
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.

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