Dublin, Jan. 07, 2025 (GLOBE NEWSWIRE) — The “Prosthetics and Orthotics – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for Prosthetics and Orthotics was estimated at US$7.2 Billion in 2023 and is projected to reach US$10 Billion by 2030, growing at a CAGR of 4.9% from 2023 to 2030.
What Factors Drive Growth in the Prosthetics and Orthotics Market?
The growth of the prosthetics and orthotics market is driven by factors such as the aging population, advancements in technology, increased prevalence of musculoskeletal disorders, and rising awareness about rehabilitation. The aging global population has led to an increase in conditions that affect mobility, such as osteoarthritis, diabetes-related amputations, and fractures, boosting demand for orthotics and prosthetics. As healthcare systems emphasize rehabilitation and quality of life for older adults, there is growing investment in devices that support mobility and independence in elderly patients.
Advancements in technology, including robotics, AI, and 3D printing, are making prosthetic and orthotic devices more functional and accessible, widening their appeal across demographics. The increased availability of lightweight, durable, and affordable devices, particularly in developing regions, has further fueled market growth. Additionally, rising awareness of physical rehabilitation and government initiatives to support disability inclusion have contributed to the market expansion. This is evident in policies that provide funding for prosthetics and orthotics or support research in advanced mobility aids. As these factors converge, the prosthetics and orthotics market is set to continue growing, providing innovative solutions that help people of all ages regain mobility, independence, and improved quality of life.
Scope of the Study
The report analyzes the Prosthetics and Orthotics market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.
Segments
- Type (Orthotics, Prosthetics)
Geographic Regions/Countries
- World; United States; Canada; Japan; China
- Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe)
- Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific)
- Latin America (Argentina; Brazil; Mexico; and Rest of Latin America)
- Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East)
- Africa
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Orthotics segment, which is expected to reach US$7.5 Billion by 2030 with a CAGR of a 4.7%. The Prosthetics segment is also set to grow at 5.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.9 Billion in 2023, and China, forecasted to grow at an impressive 7.5% CAGR to reach $2.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Prosthetics and Orthotics Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Prosthetics and Orthotics Market such as Bauerfeind USA, Inc., Blatchford Group, Fillauer LLC, Howard Orthopedics, Inc., Ossur Corporate and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 42 companies featured in this Global Prosthetics and Orthotics Market report include:
- Bauerfeind USA, Inc.
- Blatchford Group
- Fillauer LLC
- Howard Orthopedics, Inc.
- Ossur Corporate
- Ottobock
- The Ohio Willow Wood Company
- Touch Bionics, Inc.
- Ultraflex Systems
- Zimmer Biomet
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $7.2 Billion |
| Forecasted Market Value (USD) by 2030 | $10 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Key Topics Covered:
1. MARKET OVERVIEW
- World Market Trajectories
- Global Economic Update
- Prosthetics and Orthotics – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Demand for Mobility and Independence in Individuals with Disabilities Drives Growth in Prosthetics and Orthotics
- Increased Incidence of Diabetes and Vascular Diseases Expands Need for Lower-Limb Prosthetics and Orthotics
- Advances in Materials and Manufacturing Techniques, Including 3D Printing, Enhance Customization and Comfort
- Growth in Sports and Recreational Prosthetics Market Spurs Demand for High-Performance and Adaptive Solutions
- Increased Adoption of Microprocessor-Controlled and Bionic Limbs Strengthens Market for Advanced Prosthetics
- Rising Focus on Pediatric Orthotics and Prosthetics Expands Market for Specialized Devices for Children
- High Demand for Cost-Effective Solutions in Emerging Markets Fuels Growth in Affordable Prosthetics and Orthotics
- Increased Awareness of Physical Rehabilitation and Mobility Support Drives Market for Functional Orthotic Solutions
- Expansion of Wearable Technology Integration in Prosthetics Enhances Real-Time Monitoring and User Control
- Growing Focus on Enhanced Durability and Lightweight Materials Spurs Development in Prosthetic and Orthotic Design
- Increased Focus on Orthotic Solutions for Pain Management and Injury Prevention Expands Addressable Market
- Growth in Geriatric Population Elevates Demand for Assistive Devices and Custom Orthotic Solutions
- High Demand for Custom-Fit Solutions Supports Use of Scanning and Imaging Technologies in Prosthetics Design
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/oznq6r
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- Prosthetics and Orthotics Market
