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Global Prosthetics and Orthotics Market Report and Forecast 2023-2031
Market Report I 2023-07-17 I 160 Pages I EMR Inc.
Global Prosthetics and Orthotics Market Report and Forecast 2023-2031
Global Prosthetics and Orthotics Market Outlook
The global prosthetics and orthotics market size attained a value of USD 8.8 billion in 2022, driven by Increasing prevalence of disabilities and chronic conditions, coupled with advancements in technology and initiatives for accessibility and inclusivity. The market is expected to grow at a CAGR of 4.77% during the forecast period of 2023-2031 to attain a value of USD 13.4 billion by 2031.
Prosthetics And Orthotics: Introduction
Prosthetics and orthotics refer to the field of healthcare that involves the design, development, and fitting of artificial limbs (prosthetics) and external devices (orthotics) to assist individuals with physical disabilities or impairments. Prosthetics are used to replace missing body parts, while orthotics are used to support, align, or enhance the function of existing body parts. Both prosthetics and orthotics offer several uses and benefits in improving mobility, functionality, and quality of life for individuals with physical challenges.
The benefits of prosthetics and orthotics include:
- Restored Mobility and Functionality: Prosthetics and orthotics enable individuals with physical disabilities or impairments to regain mobility and functionality. They help compensate for missing limbs, support weak or injured body parts, and improve overall movement and independence.
- Improved Quality of Life: By restoring or enhancing physical abilities, prosthetics and orthotics contribute to an improved quality of life for individuals with physical challenges. These devices facilitate participation in daily activities, work, hobbies, and social interactions, enhancing overall well-being and self-esteem.
- Pain Reduction: Orthotics can help alleviate pain and discomfort associated with musculoskeletal conditions, injuries, or deformities. By providing support, cushioning, or alignment, they reduce stress on affected body parts, relieve pressure, and improve biomechanical function, leading to pain reduction and improved comfort.
- Enhanced Rehabilitation Outcomes: Prosthetics and orthotics aid in the rehabilitation process by promoting functional recovery and strengthening injured or weakened body parts. They facilitate early mobilization, muscle activation, and movement retraining, enhancing rehabilitation outcomes and accelerating recovery.
- Customization and Adaptability: Prosthetics and orthotics can be customized to fit individual needs and preferences. They can be designed, adjusted, or modified to accommodate specific anatomical features, activity levels, or lifestyle requirements, ensuring optimal fit, comfort, and performance.
It is important to note that prosthetics and orthotics should be prescribed, fitted, and monitored by trained healthcare professionals specializing in this field. Proper assessment, design, fitting, and ongoing care are essential for ensuring optimal functionality, comfort, and safety of prosthetic and orthotic devices.
Prosthetics And Orthotics Market Segmentations
The market can be categorised into product and region.
Market Breakup by Product
- Orthotic Products
- Upper Limb
- Lower Limb
- Spinal
- Prosthetic Products
- Upper Extremity
- Lower Extremity
- Liners
- Sockets
- Modular Component
Prosthetics And Orthotics Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Prosthetics And Orthotics Market Overview
The prosthetics and orthotics market has witnessed significant growth and is projected to continue expanding in the coming years. Several factors contribute to the positive market scenario.
One of the primary drivers of market growth is the increasing prevalence of disabilities and chronic conditions globally. The rising incidence of amputations, musculoskeletal disorders, neurological conditions, and age-related impairments has led to a growing demand for prosthetics and orthotics. These devices play a crucial role in restoring mobility, improving functionality, and enhancing the quality of life for individuals with physical challenges.
Moreover, advancements in technology and materials have contributed to market expansion. The development of lightweight and durable materials, such as carbon fiber, thermoplastics, and silicone, has revolutionized the design and manufacturing of prosthetics and orthotics. These advancements have resulted in more comfortable and user-friendly devices that closely replicate natural movement and biomechanics.
Furthermore, increasing awareness and initiatives to improve accessibility and inclusivity have driven market demand for prosthetics and orthotics. Governments, healthcare organizations, and non-profit organizations are implementing programs and policies to ensure individuals with disabilities have access to appropriate prosthetic and orthotic devices. These initiatives aim to improve healthcare outcomes, promote social participation, and enhance the overall well-being of individuals with physical challenges.
Additionally, the growing aging population and the rise in chronic diseases have contributed to market growth. As the elderly population increases, there is a higher prevalence of age-related impairments, such as osteoarthritis and mobility limitations. Prosthetics and orthotics play a vital role in assisting older adults with maintaining mobility, managing chronic conditions, and maintaining independence in daily activities.
Key Players in the Global prosthetics and orthotics Market
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the prosthetics and orthotics market are as follows:
- Ossur
- Blatchford Inc
- Ottobock
- Bauerfeind AG
- WillowWood Global LLC
- Ability Matters Group
- Smith+Nephew
- Esko Bionics
- Mobius Bionics
- Boston Orthotics & Prosthetics
*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Prosthetics and Orthotics Market Overview
3.1 Global Prosthetics and Orthotics Market Historical Value (2016-2022)
3.2 Global Prosthetics and Orthotics Market Forecast Value (2023-2031)
4 Global Prosthetics and Orthotics Market Dynamics
4.1 Market Drivers and Constraints
4.2 SWOT Analysis
4.3 Porter's Five Forces Model
4.4 Key Demand Indicators
4.5 Key Price Indicators
4.6 Industry Events, Initiatives, and Trends
4.7 Value Chain Analysis
5 Global Prosthetics and Orthotics Market Segmentation
5.1 Global Prosthetics and Orthotics Market by Product
5.1.1 Market Overview
5.1.2 Orthotic Products
5.1.2.1 Upper Limb
5.1.2.2 Lower Limb
5.1.2.3 Spinal
5.1.3 Prosthetic Products
5.1.3.1 Upper Extremity
5.1.3.2 Lower Extremity
5.1.3.3 Liners
5.1.3.4 Sockets
5.1.3.5 Modular Component
5.2 Global Prosthetics and Orthotics Market by Region
5.2.1 Market Overview
5.2.2 North America
5.2.3 Europe
5.2.4 Asia Pacific
5.2.5 Latin America
5.2.6 Middle East and Africa
6 North America Prosthetics and Orthotics Market
6.1 Market Share by Country
6.2 United States of America
6.3 Canada
7 Europe Prosthetics and Orthotics Market
7.1 Market Share by Country
7.2 United Kingdom
7.3 Germany
7.4 France
7.5 Italy
7.6 Others
8 Asia Pacific Prosthetics and Orthotics Market
8.1 Market Share by Country
8.2 China
8.3 Japan
8.4 India
8.5 ASEAN
8.6 Australia
8.7 Others
9 Latin America Prosthetics and Orthotics Market
9.1 Market Share by Country
9.2 Brazil
9.3 Argentina
9.4 Mexico
9.5 Others
10 Middle East and Africa Prosthetics and Orthotics Market
10.1 Market Share by Country
10.2 Saudi Arabia
10.3 United Arab Emirates
10.4 Nigeria
10.5 South Africa
10.6 Others
11 Regulatory Framework
11.1 Regulatory Overview
11.1.1 US FDA
11.1.2 EU EMA
11.1.3 INDIA CDSCO
11.1.4 JAPAN PMDA
11.1.5 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Clinical Trials Analysis
14.1 Analysis by Trial Registration Year
14.2 Analysis by Trial Status
14.3 Analysis by Trial Phase
14.4 Analysis by Therapeutic Area
14.5 Analysis by Geography
15 Funding and Investment Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Type of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Type of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Supplier Landscape
17.1 Ossur
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Blatchford Inc
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Ottobock
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Bauerfeind AG
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 WillowWood Global LLC
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Ability Matters Group
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Smith+Nephew
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Esko Bionics
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Mobius Bionics
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Boston Orthotics & Prosthetics
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
18 Key Opinion Leaders (KOL) Insights (Additional Insight)
19 Company Competitiveness Analysis (Additional Insight)
19.1 Very Small Companies
19.2 Small Companies
19.3 Mid-Sized Companies
19.4 Large Companies
19.5 Very Large Companies
20 Payment Methods (Additional Insight)
20.1 Government Funded
20.2 Private Insurance
20.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
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