Orthopedic Prosthetic Device Market Overview for 2024 to 2034
The Orthopedic Prosthetic Device Market is anticipated to be valued at USD 2.3 billion in 2024. The market is expected to grow at a CAGR of 4.8% over the period from 2024 to 2034. By the end of the forecast period, the market value is predicted to hit USD 3.7 billion.
| Attributes |
Details |
| Orthopedic Prosthetic Device Market Value, 2024 |
USD 2.3 billion |
| Projected Market Value, 2034 |
USD 3.7 billion |
| Value-based CAGR (2024 to 2034) |
4.8% |
Orthopedic Prosthetic Device Market Analysis
- As the number of road accidents rises due to the increased number of vehicles on the road, the number of people with missing limbs is growing, necessitating the use of orthopedic prosthetic devices.
- With the rise in world population also comes the wave of babies born with missing body parts, and these babies are being fitted with orthopedic prosthetic devices, driving the market’s growth.
- Orthopedic prosthetic devices are being called upon to replace partially severed parts or limbs and are thus being made to suit the needs of individual patients.
- Researchers and manufacturers are focused on providing individuals with prosthetic devices that replicate the missing part as closely as possible, and thus, the popularity of the devices is increasing.
- Orthopedic prosthetic devices have the stigma of being cumbersome to handle. However, prosthetic devices are being geared toward the comfort of patients, and thus, there is less of a hesitation in their adoption.
Orthopedic Prosthetic Device Market Trends
- Technologies like the Internet of Things (IoT) improve the functionality of smart orthopedic prosthetic devices.
- Advanced orthopedic prosthetic devices are using technology like Bluetooth and smartphone connectivity to monitor patient health and record statistics.
- People living with chronic illnesses are taking the help of orthopedic prosthetic devices to make sure their functioning is not limited.
- With trends of upgrading lifestyles as a result of economic well-being, higher prosthetic devices are being preferred by individuals, to get access to improving technology and for better functionality.
- As fitness and sports trends grow, injuries from strenuous physical activities are growing, too. Severe injuries from these activities are leading to missing body parts and limbs, thus increasing the demand for orthopedic prosthetic devices.
- Slashing of healthcare budgets is leading to a shortfall of medical equipment as well as professionals to perform the procedure necessary for the fixing of orthopedic prosthetic devices, placing a limit on the growth of the market.
- Risks associated with orthopedic surgeries, such as infections, deep vein thrombosis, and more, make people hesitant about taking the help of orthopedic prosthetic devices.
Category-wise Outlook
Electric-powered prosthetic devices have overtaken conventional prosthetic devices in terms of market share. Prosthetic clinics are the top end-users of orthopedic prosthetic devices.
Rising Fascination with Technology Allows Electric-powered Prosthetic Devices to Gain the Upper Hand
In 2024, electric-powered prosthetic devices are expected to account for 47.4% of the market share. Some of the key drivers for the increasing use of electric-powered prosthetics are:
- Electric-powered orthopedic prosthetic devices are moving forward with technology like Bluetooth and IoT, thus seeing them gain popularity over conventional devices.
- Healthcare is rapidly embracing technology and the orthopedic prosthetic device market is no different. Thus, electric-powered versions of the product are leaving behind conventional models in terms of demand.
| Attributes |
Details |
| Top Technology |
Electric-Powered |
| Market Share (2024) |
47.4% |
Increasing Investments in Prosthetic Clinics
Prosthetic clinics are anticipated to account for 41.4% of the market. Some of the key drivers for the progress of prosthetic clinic application of orthopedic prosthetic devices include:
- Prosthetic clinics are benefitting from investment courtesy of both the private and public sectors, and thus, afford expanded scope for orthopedic prosthetic device procedures.
- Prosthetic clinics specialize in providing customized devices to patients, and thus, they are highly preferred.
| Attributes |
Details |
| Top End User |
Prosthetic Clinic |
| Market Share (2024) |
41.4% |
Country-wise Analysis
The presence of a robust healthcare infrastructure system is boosting the market in North America. The Asia Pacific’s considerable geriatric, as well as chronic illness-affected population, is taking the help of orthopedic prosthetic devices in increasing measure.
Europe is set to be a lucrative region for growth in the market. Ongoing fitness trends, in combination with a thriving sports culture, are driving the need for orthopedic prosthetic devices in the region.
| Countries |
CAGR |
| Canada |
5.2% |
| Germany |
5.7% |
| Spain |
5.9% |
| Italy |
5.3% |
| India |
6.5% |
Trend of Customized Orthopedic Prosthetic Devices Propelling Market in Canada
The market in Canada is set to register a CAGR of 5.2% over the forecast period. The key drivers for growth are:
- With incomes rising across Canada, patients are seeking orthopedic prosthetic devices that maximize their comfort regardless of the money. Thus, customized orthopedic devices that fit consumers like gloves are being sought in the country.
- Extreme weather conditions in Canada are leading to adverse effects in the population of the country’s bones and bodies, leading them to resort to orthopedic prosthetic devices.
Germany’s Thriving Sports Culture Resulting in Ever-present Threat of Sports Injuries
The CAGR for the market in Germany is expected to be 5.7% over the forecast period. Some of the key factors driving the growth are:
- People’s participation in sports shows no signs of abating in Germany but that brings with it the consequence of a rise in sports injuries. Thus, orthopedic prosthetic devices are being called upon in increasing measure in the country.
- With a focus on patient comfort in Germany, orthopedic prosthetic device manufacturers in the country are making increasingly convenient devices.
Advanced Technology Shaping the Market in Spain
The orthopedic prosthetic device market in Spain is projected to register a CAGR of 5.9% over the forecast period. Some of the key factors driving the growth are:
- Technologically-enabled prosthetic devices, with features such as smartphone connectivity, are gaining prominence in Spain.
- An increasing number of people with chronic illnesses in Spain is driving the demand for orthopedic prosthetic limbs.
3D Printed Prosthetics Giving the Market a Fresh Outlook in Italy
The market is expected to register a CAGR of 5.3% in Italy. Some of the key trends include:
- 3D printed prosthetics introduction in Italy has revolutionized the market in the country, with local players such as MT Ortho making significant strides in the department.
- The rising number of injuries related to physical work in Italy is increasing the demand for orthopedic prosthetic devices.
Rising Number of Road Accidents Boosting the Market in India
The market is expected to register a CAGR of 6.5% in India. Some of the key trends include:
- With the rapidly growing population, the number of vehicles on the road in India is increasing, accelerating the market demand in India.
- Government initiatives are focused on providing advanced medical technology to the rural population in India and thus the market’s scope in the country is widening.
Competitive Landscape in the Orthopedic Prosthetic Device Market
With technology playing an ever-expanding role in the market, companies are investing heavily in research & development. The market is fueled by both public and private investment.
The market for orthopedic prosthetic devices is fairly fragmented in nature, with startup culture apparent. Market players are collaborating with hospitals, prosthetic clinics, and others in the healthcare sector to expand their reach.
Recent Developments in the Orthopedic Prosthetic Device Market
- In January 2023, Zimmer Biomet strengthened its foothold in the market by acquiring Embody Inc.
- In September 2022, the Gamma4 Hip Fracture Nailing System was introduced by Stryker Corporation.
- In February 2022, the Power Knee microprocessor prosthetic knee system was launched by Össur. It is a smart prosthetic device with algorithms to monitor patient movement.
Key Companies in the Orthopedic Prosthetic Device Market
- Blatchford Group
- Touch Bionics Inc.
- The Ohio Willow Wood Co
- Össur hf.
- Fillauer LLC
- Advanced Arm Dynamics, Inc.
- Stryker Corporation
- Exactech, Inc.
- Globus Medical Inc.
- RTI Surgical Inc.
- Wright Medical Group N.V.
- Johnson & Johnson Services, Inc.
- Arthrex Inc.
- AlloSource
- Braun Melsungen AG
- Smith & Nephew plc
- Zimmer Biomet
- Hanger Inc.
- Otto Bock Healthcare GmBH
- Endolite Ltd.
- Howard Orthopedics Inc.
Key Coverage in the Orthopedic Prosthetic Device Industry Report
- Orthopedic Prosthetic Devices Market Share & Trends Analysis
- Global Orthopedic Market Size Report
- Orthotics Market Comparative Analysis with Orthopedic Prosthetic Device Industry
- Orthopedic Prosthetic Device Sales Coverage
- Orthopedic Prosthetics Market Key Industry Insights
- Orthopedic Prosthetic Device Market Future Forecast
Report Scope Table - Orthopedic Prosthetic Device Market
| Report Attributes |
Details |
| Current Total Market Size (2024) |
USD 2.3 billion |
| Projected Market Size (2034) |
USD 3.7 billion |
| CAGR (2024 to 2034) |
4.8% |
| Base Year for Estimation |
2023 |
| Historical Period |
2019 to 2023 |
| Projections Period |
2024 to 2034 |
| Quantitative Units |
USD million for value |
| Product Types Analyzed (Segment 1) |
Upper Extremity (Hand, Elbow, Shoulder), Lower Extremity (Foot & Ankle, Knee, Hip), Liners, Sockets, Modular Components |
| Technology Types Covered (Segment 2) |
Conventional, Electric-Powered, Hybrid Orthopedic Prosthetics |
| End Users Covered (Segment 3) |
Hospitals, Prosthetic Clinics, Rehabilitation Centers, Others |
| Regions Covered |
North America; Latin America; Europe; Asia-Pacific; Middle East & Africa |
| Countries Covered |
United States, Germany, China, India, Japan, United Kingdom, France, Brazil, Canada |
| Key Players Influencing the Market |
Blatchford Group, Touch Bionics, Ohio Willow Wood, Össur hf., Fillauer LLC, Advanced Arm Dynamics, Stryker, Exactech, Globus Medical, RTI Surgical, Wright Medical, Johnson & Johnson Services, Arthrex, AlloSource, Braun Melsungen, Smith & Nephew, Zimmer Biomet, Hanger Inc., Otto Bock, Endolite, Howard Orthopedics |
| Additional Attributes |
Dollar sales by product and technology, growth in electric-powered prosthetics, investments in prosthetic clinics, IoT integration, regional market dynamics |
| Customization and Pricing |
Customization and Pricing Available on Request |
