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PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1163362

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PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1163362

Global Prosthetics and Orthotics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type, Technology, and Regions

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Market Overview:

Prosthetics is the branch of surgery that deals with the fitting of prosthetic devices, especially artificial limbs in individuals who have lost their limbs. Orthotics is a medical field that deals with the design, manufacture, and fabrication of artificial devices like braces, splints, and others to support damaged or weak joints, bones, muscles, and others. The combination of both professions has the potential to offer significant patient rehabilitation.

According to Ken Research Analysis, the Global Prosthetics and Orthotics Market was valued at US$ 6 billion in 2017. It is estimated to be US$ 7 billion in 2022 and is expected to reach a market size of US$ 9 billion by 2028, owing to the rising incidence of road accidents and sports injuries coupled with the increasing number of diabetes-related amputations.

The growing prevalence of osteosarcoma along with the increase in disability rate is anticipated to propel the growth of the Global Prosthetics and Orthotics Market.

The advancement in technology for the development of prosthetic devices and adoption of technologies like 3D printed prosthetics owing to their cost-effectiveness and easy usage, next-generation technologies such as microprocessors, automation, artificial intelligence (AI), and others is likely to aid the growth of the market.

The Global Prosthetics and Orthotics Market face challenges due to the high cost of the devices and technologies of prosthetics.

The challenge faced by the Global Prosthetics and Orthotics Market is the lack of developed healthcare infrastructure in developed and under-developed economies. On the other hand, the high cost of devices is expected to obstruct the growth of the market.

Lack of proper healthcare infrastructure, especially in low-income or developing countries along with the low-income status of large populations may restrict the growth of the market.

COVID-19 negatively impacted the Prosthetics and Orthotics Market for short time due to the disruption in the supply chain globally, delays in approvals or launch of new medical equipment, and reduced healthcare spending. In addition, essential surgeries or medical procedures were taken into consideration during the initial stage. However, many non-governmental organizations and regulatory agencies responded to the changing scenarios and were seeking approvals for the continuation of prosthetic and orthotic care services to offer essential health benefits to patients during the pandemic. The demand for prosthetic and orthotic care is expected to become stable as physical operations are resumed, which is increasing the demand for the services among the existing amputee population with maintenance.

Scope of the Report

The Global Prosthetics and Orthotics Market is segmented by type and technology. In addition, the report also covers market size and forecasts for the four region's Prosthetics and Orthotics Market. The revenue used to size and forecast the market for each segment is US$ billion.

By Type

Orthotics

Upper Limb

Lower Limb

Spinal Orthotics

Prosthetics

Upper Extremity

Lower Extremity

Liners

Sockets

Modular Components

By Technology

Conventional

Electric-powered

Hybrid Orthopedic Prosthetics

By Geography

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Sweden, Italy)

Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)

LAMEA (Latin America, Middle East, Africa)

Key Players

Fillauer LLC

Bauerfeind

Ottobock

Zimmer Biomet

Blatchford Limited

Steeper Inc.

Johnson and Johnson

Stryker

Smith+Nephew

Ossur

Key Trends by Market Segment

By Type: Orthotics segment held the largest share of the Global Prosthetics and Orthotics Market in 2021, attributed to the increasing number of spinal cord injuries.

The rising cases of road accidents or sports injuries coupled with increasing penetration of orthopedic technology to offer benefits like reduced pain and faster recovery in terms of movement is anticipated to augment the growth of the segment in the Global Prosthetics and Orthotics Market.

By Technology: The conventional segment held the largest share of the Global Prosthetics and Orthotics Market in 2021, owing to its affordability.

The reliability of end-users on conventional technology of prosthetics and orthotics coupled with it also offers advantages such as safety, energy efficiency, stability, and affordability, which is expected to attract consumers and thus is anticipated to boost the growth of the segment in the market.

By Geography: North America region accounted for the largest share of the Global Prosthetics and Orthotics Market in 2021, due to the increasing focus on providing quality care along with the growing focus on research and development of new technologies for prosthetics and orthotics.

The increase in investment for research and development for prosthetics and orthotics along with favorable reimbursement policies along with well-established healthcare infrastructure in the region is expected to propel the growth of the region in the market.

Competitive Landscape

The Prosthetics and Orthotics Market is highly competitive with ~150 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in Prosthetics and Orthotics.

Country-niche players comprise ~55% of the total number of competitors, while the regional players comprise the second highest of the total number of competitors. Some of the major players in the market include Fillauer LLC, Bauerfeind, Ottobock, Zimmer Biomet, Blatchford Limited, Steeper Inc., Johnson and Johnson, Stryker, Smith+Nephew, and Ossur, among others.

The leading global Prosthetics and Orthotics companies such as Bauerfeind, Ossur, Fillauer LLC, and Ottobock are highly focused on launching new orthotics and prosthetics products in the market and gaining investment for research and development process.

Recent Developments Related to Major Players

In February 2022, Ossur launched a new next-generation Power knee microprocessor prosthetic knee system. The company designed a motor-powered smart prosthesis with advanced algorithms for providing movement to humans. The algorithm detects the pattern of human movement, and learning, and adjusts to the speed and cadence in real-time of the wearer in. The company aimed to expand its product portfolio with the help of a new launch.

In June 2020, Ottobock partnered with World Para Athletics to launch Ottobock Get Together, a series of monthly live sessions on Facebook, which was hosted by Heinrich Popow, the eight-time Paralympic medalist. This series aims to know about the experience of Para athletes from their life and experiences. The first edition of the session was based on prosthetic legs. The partnership aimed to spread awareness regarding prosthetic legs by sharing the experience of world-class athletes.

Conclusion

The Global Prosthetics and Orthotics Market is forecasted to continue sluggish growth, primarily driven by the increasing frequency of road accidents and sports injuries globally. Furthermore, advancements in technology in the development of prosthetic devices and increasing penetration of new technologies including next-generation technology, 3D printing, and others in the market are anticipated to propel the growth of the market even in the forecasted period. Though the market is highly competitive with ~150 participants, regional players control the dominant market share.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks.

Key Topics Covered in the Report

Snapshot of the Global Prosthetics and Orthotics Market

Industry Value Chain and Ecosystem Analysis of the Prosthetics and Orthotics Market

Market size and Segmentation of the Global Prosthetics and Orthotics Market

Historic Growth of the Overall Global Prosthetics and Orthotics Market and Segments

Competition Scenario of the Prosthetics and Orthotics Market and Key Developments of Competitors

Porter's 5 Forces Analysis of the Global Prosthetics and Orthotics Industry

Overview, Product Offerings, and Strategic Developments of Key Competitors

COVID-19 Impact on the Overall Global Prosthetics and Orthotics Market

Future Market Forecast and Growth Rates of the Global Prosthetics and Orthotics Market and by Segments

Market Size of Application/End-User Segments with historical CAGR and Future Forecasts

Analysis of the Prosthetics and Orthotics Market in Major Regions

Major Production / Consumption Hubs in the Major Regions

Major Production/Supply and Consumption/Demand Hubs in Each Region

Major Country-wise Historic and Future Market Growth Rates of the Total Prosthetics and Orthotics Market and Segments

Overview of Notable Emerging Competitor Companies within Each Major Region

Major Companies Mentioned in the Report

Fillauer LLC

Bauerfeind

Ottobock

Zimmer Biomet

Blatchford Limited

Steeper Inc.

Johnson and Johnson

Stryker

Smith+Nephew

Ossur

Notable Emerging Companies Mentioned in the Report

Sarcos Robotics

Ekso Bionics

ReWalk Robotics

Xilloc Medical

Cyberdyne

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Prosthetics and Orthotics Manufacturers

Healthcare Research Institutes

Market Research & Consulting Firms

Research and Development Associations

Investment Banking & Financial Institutes

PE and VC Firms focused on Medical Devices

Research & Development Institutes for Prosthetics and Orthotics Sector

Prosthetics and Orthotics Providers

Prosthetics and Orthotics Suppliers

Investors in Prosthetics and Orthotics Start-ups

Prosthetics and Orthotics Distributors

Government Regulatory Authorities of Healthcare

Investors in Prosthetics and Orthotics Companies

Potential Entrants into Prosthetics and Orthotics

Potential Entrants into Medical Devices

Time Period Captured in the Report

Historical Period: 2017-2021

Forecast Period: 2022E-2028F

Frequently Asked Questions

What is the Study Period of this Market Report?

The Global Prosthetics and Orthotics Market is covered from 2017 - 2028 in this report, which includes a forecast for the period 2022-2028.

What is the Future Growth Rate of the Global Prosthetics and Orthotics Market?

The Global Prosthetics and Orthotics Market is expected to witness a CAGR of about ~5% for the next six years.

What are the Key Factors Driving the Global Prosthetics and Orthotics Market?

The rising incidence of sports injuries and road incidents coupled with the growing prevalence of osteosarcoma globally is anticipated to propel the growth of the Global Prosthetics and Orthotics Market.

Which is the Largest Type Segment within the Global Prosthetics and Orthotics Market?

The orthotics segment held the largest share of the Global Prosthetics and Orthotics Market.

Who are the Key Players in the Prosthetics and Orthotics Market?

Fillauer LLC, Bauerfeind, Ottobock, Zimmer Biomet, Blatchford Limited, Steeper Inc., Johnson and Johnson, Stryker, Smith+Nephew, and Ossur, among others.

Product Code: KRBR128

Table Of Contents

Scope:

1. Executive Summary

  • 1.1 Highlights of Global Prosthetics and Orthotics Market Historic Growth & Forecast
  • 1.2 Highlights of Market Trends, Challenges, and Competition
  • 1.3 Highlights of Market Revenue Share by Segments

2. Market Overview and Key Trends Impacting Growth

  • 2.1 Global Prosthetics and Orthotics Market Taxonomy
  • 2.2 Industry Value Chain
  • 2.3 The Ecosystem of Major Entities in the Global Prosthetics and Orthotics Market
  • 2.4 Government Regulations & Developments
  • 2.5 Key Growth Drivers & Challenges Impacting the Market
  • 2.6 COVID-19 Impact on Global Prosthetics and Orthotics Market
  • 2.7 Total Global Prosthetics and Orthotics Market Historic Growth by Segment Type, 2017-2021

2.7.1 By Type

2.7.2 By Technology

2.7.3 By Major Regions

  • 2.8 Total Global Prosthetics and Orthotics Market Historic Growth & Forecast, 2017-2028
  • 2.9 Key Takeaways

3. Total Global- Market Segmentation by Type, Historic Growth, Outlook & Forecasts

  • 3.1 Market Definition - Segmentation by Type
  • 3.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Type, 2017-2028

3.2.1 Prosthetics

3.2.1.1 Upper Extremity

3.2.1.2 Lower Extremity

3.2.1.3 Liners

3.2.1.4 Sockets

3.2.1.5 Modular Components

3.2.2 Orthotics

3.2.2.1 Upper Limb

3.2.2.2 Lower Limb

3.2.2.3 Spinal Orthotics

  • 3.3 Key Takeaways from Market Segmentation by Type

4. Total Global- Market Segmentation by Technology, Historic Growth, Outlook & Forecasts

  • 4.1 Market Definition - Segmentation by Technology
  • 4.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Technology, 2017-2028

4.2.1 Conventional

4.2.2 Electric-powered

4.2.3 Hybrid Orthopedic Prosthetics

  • 4.3 Key Takeaways from Market Segmentation by Technology

5. Industry / Competition Analysis - Competitive Landscape

  • 5.1 Types of Players (Competitors) & Share of Competition
  • 5.2 Porter's 5 Forces Analysis of Global Prosthetics and Orthotics Competitors
  • 5.3 Key Developments in the Global Prosthetics and Orthotics Sector Impacting Market Growth
  • 5.4 Comparison of Leading Competitors within the Global Prosthetics and Orthotics Market, 2021
  • 5.5 Comparison of Leading Competitors within the Global Prosthetics and Orthotics Market by Coverage of Type Segments, 2021
  • 5.6 Comparison of Leading Competitors within the Global Prosthetics and Orthotics Market by Coverage of Technology Segments, 2021
  • 5.7 Comparison of Leading Competitors within the Global Prosthetics and Orthotics Market by Coverage of Major Regions, 2021
  • 5.8 Key Takeaways from Competitive Landscape

6. Key Competitor Profiles (Company Overview, Strategic Developments, Product Offerings)

  • 6.1 Fillauer LLC
  • 6.2 Bauerfeind
  • 6.3 Ottobock
  • 6.4 Zimmer Biomet
  • 6.5 Blatchford Limited
  • 6.6 Steeper Inc.
  • 6.7 Johnson and Johnson
  • 6.8 Stryker
  • 6.9 Smith+Nephew
  • 6.10 Ossur

7. Geographic Analysis & Major Region Market Historic Growth, Outlook, and Forecasts

  • 7.1 Major Region Comparison of Macroeconomic Factors
  • 7.2 Total Global- Market Revenue Share, Historic Growth, Outlook and Forecasts by Geography, 2017-2028
  • 7.3 Major Region Market Analysis, Historic Growth, Outlook & Forecasts
  • 7.4 North America - Prosthetics and Orthotics Market Analysis

7.4.1 Major Production and Consumption Hubs in North America

7.4.2 Notable Emerging Prosthetics and Orthotics Companies in North America

7.4.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Type, 2017-2028

7.4.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Technology, 2017-2028

7.4.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028

USA

Canada

Mexico

  • 7.5 Europe - Prosthetics and Orthotics Market Analysis

7.5.1 Major Production and Consumption Hubs in Europe

7.5.2 Notable Emerging Prosthetics and Orthotics Companies in Europe

7.5.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Type, 2017-2028

7.5.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Technology, 2017-2028

7.5.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028

Germany

UK

France

Spain

Italy

Rest of Europe

  • 7.6 Asia-Pacific - Prosthetics and Orthotics Market Analysis

7.6.1 Major Production and Consumption Hubs in Asia-Pacific

7.6.2 Notable Emerging Prosthetics and Orthotics Companies in Asia-Pacific

7.6.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Type, 2017-2028

7.6.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Technology, 2017-2028

7.6.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028

China

Japan

South Korea

India

Indonesia

Australia

Rest of Asia-Pacific

  • 7.7 LAMEA - Prosthetics and Orthotics Market Analysis

7.7.1 Major Production and Consumption Hubs in LAMEA

7.7.2 Notable Emerging Prosthetics and Orthotics Companies in LAMEA

7.7.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Type, 2017-2028

7.7.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Technology, 2017-2028

7.7.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Regions, 2017-2028

Latin America

Middle East

Africa

8. Industry Expert's Opinions/Perspectives

  • 8.1 Notable Statements/Quotes from Industry Experts and C-Level Executives on Current Status and Future Outlook of the Market

9. Analyst Recommendation

  • 9.1 Analyst Recommendations on Identified Major Opportunities and Potential Strategies to Gain from Opportunities

10. Appendix

  • 10.1 Research Methodology - Market Size Estimation, Forecast, and Sanity Check Approach
  • 10.2 Sample Discussion Guide

Disclaimer

Have a question?
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Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

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Christine Sirois

Manager - Americas

+1-860-674-8796

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