Prosthetics And Orthotics Market Size, Share & Trend Analysis Report By Type (Orthotics (Upper Limb, Lower Limb, Spinal), Prosthetics (Upper Extremity, Lower Extremity), And Segment Forecasts, 2022 - 2030

Report Overview

The global prosthetics and orthotics market was valued at USD 6.39 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030. Increasing incidence of sports injuries and road accidents, rising number of diabetes-related amputations, and growing prevalence of osteosarcoma around the world are poised to drive the global market. According to John Hopkins University, every year more than 3.5 million children suffer from sports injuries in the U.S. Sports-induced injury is anticipated to drive the demand, aiding market growth during the forecast period.

During COVID-19, many regulatory agencies and non-governmental organizations responded to the changing scenario. For example, the National Association for the Advancement of Orthotics & Prosthetics (NAAOP) wrote an open letter to all state governors dated March 19, 2020, seeking the continuation of Prosthetic and Orthotic Care services as part of essential health benefits that patients must have access during the pandemic.

An alarming rise in the frequency of road accidents is also a leading factor in driving amputation. According to the World Health Organization, as of June 2021, around 1.3 million people die every year due to road traffic crashes. According to the Association for Safe International Road Travel (ASIRT), around 20-50 million people across the globe were injured or disabled owing to road accidents in 2018. Road traffic accidents account for the 9th leading cause of death, worldwide. ASIRT also reported that in the U.S., more than  38,000 people died in road accidents every year as of 2018. Such factors are fueling market growth.

COVID-19 prosthetics and orthotics market impact: marginal growth of 3% from 2019 to 2020

Technological advancement in orthotics & prosthetics is expected to boost the market growth soon. 3D printed prosthetics by Limb Forge are expected to gain market penetration in developing regions due to their cost-effectiveness and ease of usage. Furthermore, in June 2020, Ossur launched the Balance Foot S and Balance Foot Torsion, Iceross Seal-In X Locking Liner for people suffering from limb loss and limb difference.

Type Insights

Based on type, the market is segmented into orthotics and prosthetics. Orthotics held the dominant share of more than 70% in the prosthetics & orthotics market in terms of revenue in 2021. 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 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 the factors such as the increasing number of spinal injuries, rising target population, and unhealthy lifestyle of youths. Orthotics are further segmented into lower limbs, upper limbs, and spinal orthotics. Prosthetics, on the other hand, comprise upper-extremity and lower-extremity prosthetics, liners, sockets, and modular components.

The prosthetics segment is expected to show significant growth during the forecast period. Major companies manufacturing this product are Ossur and Blatchford Inc. An increase in the disability rate across the globe is expected to drive the market in the coming years. For instance, as per the report published by Rehabilitation Research and Training Center on Disability Statistics and Demographics, in 2018,  percentage of the 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 the prosthetics.

Regional Insights

In terms of the region, North America was the leading market in 2021, with a market share of more than 37.0%, and is anticipated to witness the same trend in the near 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 market growth. Moreover, the focus of the U.S. healthcare system on the quality of care and value-based services has led to a favorable market environment for prosthetics &  orthotics.

The Asia Pacific market is expected to show lucrative growth of 5.2% during the forecast period. The region is driven by an increasing number of diabetes-related amputations, a rise in the number of road accidents, and supportive government initiatives. For instance, Asian Prosthetic &  Orthotics Meeting took place in November 2018 in Thailand to foster cooperation between Asian countries and discuss the ongoing and emerging issues related to prosthetics & orthotics.

As per the report by Asian Diabetes Prevention Initiative, 60.0% of the diabetic population lives in Asia, currently, 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 market during the forecast period.

Key Companies & Market Share Insights

The prosthetics & orthotics market consists of a blend of numerous global and local players. Otto bock is one of the leading players in the market. The company has implemented several strategic initiatives. For instance, in November 2021, Otto bock acquired suitX, a U.S.-based company specializing in the research and development of occupational and medical exoskeletons. Similarly, in September 2020, Otto bock launched two new products in the Taleo foot portfolio: Taleo Vertical Shock (VS) and Taleo Harmony. Ossur Corporate is also one of the major players in the market. Some of the key players operating in the global prosthetics and orthotics market  include:

• Ossur

• Blatchford, Inc.

• Fillauer LLC

• Otto bock Healthcare GmbH

• The Ohio Willow Wood Company

• Ultra flex Systems

• Steeper Group

Prosthetics And Orthotics Market Report Scope

Global Prosthetics And Orthotics Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global prosthetics and orthotics Market report based on the type and region:

• Type Outlook (Revenue, USD Million; 2017 - 2030)

  • Orthotics

    • Upper Limb

    • Lower Limb

    • Spinal

  • Prosthetics

    • Upper Extremity Prosthetics

    • Lower Extremity Prosthetics

    • Liners

    • Sockets

    • Modular Components

• Regional Outlook (Revenue, USD Million; 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Sweden

    • Denmark

    • Belgium

    • Netherlands

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa