Prosthetics And Orthotics Market Size, Share & Trends Analysis Report By Type Orthotics (Upper Limb, Lower Limb, Spinal), Prosthetics (Upper Extremity, Lower Extremity), And Segment Forecasts, 2020 - 2027

Report Overview

The global prosthetics and orthotics market size was estimated at USD 5.9 billion in 2019 and is expected to exhibit a CAGR of 4.6% during the forecast period. Increasing incidence of sports injuries and road accidents, rising number of diabetes-related amputations, and the growing prevalence of osteosarcoma around the world are poised to drive the global market.

Nowadays, more people are choosing sports as a career, raising the likelihood of various sports injuries. As per the American Physical Therapy Association (APTA), the annual sports injury rate in the U.S. was around 8.7 million in 2018, which represented an age-adjusted rate of around 34.1 per 1,000 population. This factor is anticipated to drive the demand for prosthetics and orthotics.

Alarming rise in the frequency of road accidents is also a leading factor driving limb amputation procedures around the world. According to the Association for Safe International Road Travel (ASIRT), around 20-50 million people in the U.S. were injured or disabled owing to road accidents in 2018. Road traffic accidents are the 9th leading cause of deaths worldwide. ASIRT also reported that as of 2018, over 37,000 people die in road accidents every year in the U.S. As per the Ministry of Road Transport and Highways, Government of India, in 2018, around 4, 67,044 people were injured in road accidents, which is further fueling the demand for prosthetics and orthotics.

Increasing incidence of osteosarcoma is also increasing the demand for prosthetics and orthotics products. A report published by the National Cancer Institute estimated around 3,450 new cases of bone and joint cancer in 2018, resulting in 1,590 deaths globally. Children with Cancer UK, a member of the Association of Medical Research Charities (AMRC), reported that osteosarcoma is the most common bone tumor in children, and every year around 30 new children are diagnosed with the disease in the U.K. as of 2018.

Technological advancement in orthotics and prosthetics is expected to boost the market growth in the near future. 3D printed prosthetics by LimbForge is expected to gain market penetration in developing regions due to its cost-effectiveness and ease of usage. In September 2018, Ottobock launched the C-brace with swing phase control to increase its market visibility in orthotics.

Type Insights

On the basis of type, the market is bifurcated into orthotics and prosthetics. Orthotics is further segmented into the lower limb, upper limb, and spinal orthotics. Prosthetics, on the other hand, comprises upper extremity and lower extremity prosthetics, liners, sockets, and modular components.

Orthotics held the dominant share in the prosthetics and orthotics market in terms of revenue in 2019. This may be attributed to the increasing prevalence of osteoarthritis, rising incidences of sports injuries, and growing penetration of orthopedic technology. Upper limb orthotics accounted for the largest share in 2019 owing to various benefits offered, such as reduced pain and rapid recovery in terms of movement. Spinal orthotics is expected to exhibit the fastest growth rate owing to factors such as an increasing number of spinal injuries, rising target population, and unhealthy lifestyle of youths.

The prosthetics segment is expected to witness significant growth over the forecast period. Major companies manufacturing this product are Ossur; Zimmer Biomet Holdings Inc.; and Blatchford Inc. An increase in disability rates across the globe is expected to drive the market in the coming years. For instance, as per a report published by the Rehabilitation Research and Training Center on Disability Statistics and Demographics, in 2018, the percentage of people with disabilities in the U.S. increased from around 11.9% in 2010 to 12.9% in 2017, thereby leading to rising demand for prosthetics.

Regional Insights

In terms of region, North America was the leading market in 2019 and is anticipated to witness the same trend over the foreseeable future. This growth can be attributed to well-established healthcare infrastructure, increasing R&D investments by companies, and favorable reimbursement policies. Moreover, the rising prevalence of osteosarcoma and increasing incidences of sports injuries are expected to drive the market. The focus of the U.S. healthcare system on quality of care and value-based services has also led to a favorable market environment for prosthetics and orthotics.

The Asia Pacific market is expected to exhibit lucrative growth over the forecast period. The region is driven by an increasing number of diabetes-related amputations, a rise in number of road accidents, and supportive government initiatives. For instance, the Asian Prosthetic and Orthotics Meeting was held in Thailand in November 2018 to foster cooperation between Asian countries and discuss ongoing and emerging issues related to prosthetics and orthotics. As per a report by the Asian Diabetes Prevention Initiative, 60% of the diabetic population currently lives in Asia, and by 2030, it is estimated that both India and China will have around half a million people with diabetes. The aforementioned factors are expected to propel the regional market over the forecast period.

Prosthetics and Orthotics Market Share Insights

The market consists of a mix of numerous global and local players. Ottobock is one of the leading players in the market and the company has implemented several strategic initiatives to establish its foothold in the market. For instance, it developed the 3R67 prosthesis with hydraulic swing phase control in September 2017. The prosthetic knee joint is designed specifically for children. Ossur Corporate is also one of the major players in the market. In May 2018, Ossur introduced various new products in the market such as the Ossur Formfit Pro Line of 3D knitted supports at OTWorld in order to gain market penetration.

Some of the other players in the industry are Zimmer Biomet Holdings Inc.; Blatchford Inc.; Fillauer LLC; The Ohio Willow Wood Company; and Ultraflex Systems Inc. Various strategies such as mergers, acquisitions, collaborations, and new product launches are being adopted by these players to maintain their market share. For instance, in July 2018, Blatchford launched a new sandal toe foot shell for its various products such as Linx, Elan, and Echelon VAC in order to improve its product portfolio.

Prosthetics And Orthotics Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global prosthetics and orthotics market report on the basis of type and region:

• Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Orthotics

    • Upper limb

    • Lower limb

    • Spinal

  • Prosthetics

    • Upper extremity

    • Lower extremity

    • Liners

    • Sockets

    • Modular components

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America 

    • U.S.

    • Canada

  • Europe 

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Sweden

    • Denmark

    • Belgium

    • Netherlands

  • Asia Pacific 

    • Japan

    • China

    • India

  • Latin America 

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa