What is the current market size and Compound Annual Growth Rate (CAGR) of the market during the forecast period (2020-2027)?

The Global Orthopedic Prosthetics market size was valued at US$ 1,940.3 million in 2019 and is estimated to exhibit a CAGR of 5.1% between 2020 and 2027 . Read more

Which segment, based on product type, accounted for the highest demand in the market?

Lower Extremity Prosthetics segment held the major market share in 2019 owing to an technological advancement in product design and increasing product approvals is expected to propel growth of the market Read more

Which are the key factors driving the growth of the Global Orthopedic Prosthetics market?

Major factor driving the growth of Global Orthopedic Prosthetics market during the forecast period increasing number of lower limb extremities, increasing research & development , and adoption of expansion strategies from major companies. Read more

What are the key factors hampering the growth of the market?

Major factors hampering the growth of the Global Orthopedic Prosthetics market during the forecast period constitutes of lack of reimbursement. Read more

Which region held the largest market share in the Global Orthopedic Prosthetics market?

North America market is expected to generate the highest revenue during the forecast period. Read more

Orthopedic Prosthetic Market Size, Trends, Shares, Insights, and Forecast

Q: Who are the key players operating in this market?

Some of the key players operating in the market are Ossur hf, Hanger Inc., Otto Bock HealthCare GmbH, Blatchford Ltd., Touch Bionics Inc., The Ohio Willow Wood Co., Fillauer LLC. And Howard Orthopaedics Inc. Read more

Summary Report Description Table Of Content Research Methodology Consult With Us

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

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An orthopedic prosthetic is an artificial limb designed to substitute a missing body part of a patient. Artificial limbs make it possible for persons who have lost limb/limbs to functions efficiently and these prosthetics resemble original or natural limbs to a considerable extent and are users almost always pass unnoticed.

Statistics:

The global orthopedic prosthetics market is estimated to account for US$ 2,872.2 Mn in terms of value by the end of 2027.

Global Orthopedic Prosthetics Market: Drivers

Increasing geriatric population is expected to propel growth of the global orthopedic prosthetics market over the forecast period. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

Moreover, increasing number of accidents is also expected to propel growth of the global orthopedic prosthetics market over the forecast period. For instance, according to the Ministry of Road Transport and Highways, Government of India, in 2018, the number of road accidents increased by 0.46% compared to 2017.

Statistics:

North America held dominant position in the global orthopedic prosthetics market in 2019, accounting for 38.8% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global Orthopedic Prosthetics Market Share (%) Value, By Region, 2019

Orthopedic Prosthetic | Coherent Market Insights

Global Orthopedic Prosthetics Market: Restraints

High cost of prosthetics is expected to hinder growth of the global orthopedic prosthetics market. Serviceable below-the-knee prosthesis that allows the user to stand and walk on level ground costs around US$ 5,000 to US$ 7,000 and price of computer-assisted devices range between US$ 20,000 and US$ 30,000.

Moreover, advancements in vascular surgery may also limit growth of the global orthopedic prosthetics market. Advancements in vascular surgery are compelling doctors to take a second thought before going for amputation.

Orthopedic Prosthetics Market Report Coverage

Report Coverage	Details
Base Year:	2019	Market Size in 2019:	US$ 1,940.3 Mn
Historical Data for:	2016 to 2019	Forecast Period:	2020 to 2027
Forecast Period 2020 to 2027 CAGR:	5.1%	2027 Value Projection:	US$ 2,872.2 Mn
Geographies covered:	North America: U.S., Canada Latin America: Brazil, Argentina, Mexico, Rest of Latin America Europe: Germany, U.K., France, Spain, Italy, Russia, Rest of Europe Asia Pacific: China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific Middle East: GCC Countries, Israel, Rest of Middle East Africa: North Africa, Central Africa, South Africa
Segments covered:	By Product Type: Upper Extremity Prosthetics: Hand Prosthetics, Elbow Prosthetics, Shoulder Prosthetics. Lower Extremity Prosthetics: Foot & Ankle Prosthetics, Knee Prosthetics, Hip Prosthetics. Liners, Sockets, Modular Components. By Technology: Conventional, Electric Powered, Hybrid Orthopedic Prosthetics. By End User: Hospitals, Prosthetic Clinics, Rehabilitation Center, Others.
Companies covered:	Ossur hf, Hanger Inc., Otto Bock HealthCare GmbH, Blatchford Ltd., Touch Bionics Inc., The Ohio Willow Wood Co., Fillauer LLC., and Howard Orthopaedics Inc.
Growth Drivers:	Increasing number of lower limb extremities Approval and launch of new products
Restraints & Challenges:	High cost

Statistics:

The global orthopedic prosthetics market was valued at US$ 1,940.3 Mn in 2019 and is forecast to reach a value of US$ 2,872.2 Mn by 2027 at a CAGR of 5.1% between 2020 and 2027.

Figure 2: Global Orthopedic Prosthetics Market Value (US$ Mn), 2016 – 2027

Orthopedic Prosthetic | Coherent Market Insights

Market Trends/Key Takeaways

R&D in prosthetics is expected to propel growth of the global orthopedic prosthetics market. For instance, in August 2019, researchers at Medical University of Vienna in collaboration with Otto Bock Healthcare Products, Alfred Mann Foundation, and Imperial College London developed a prosthetic arm with few built-in electrodes, which makes contact with the patient’s skin and results in opening and closing of the prosthetic arm claw.

Moreover, launch of IoT technologies for prosthetics is also expected to aid in growth of the market. For instance, August 2019, Intellirod Spine launched iLink, a Bluetooth-enabled sensor module that can be attached to any brace, orthotic or prosthetic to measure wearing compliance, upright posture time and mobility daily through a free smartphone app.

Regulations

U.S.

According to the U.S. FDA, most, but not all, prosthetic components and controls are classified as class I. Almost all class I devices are exempt from premarket notification by FDA, but as such are subject to regulation by the U.S. FDA, Center for Devices and Radiological Health (CDRH).
According to 21 CFR Part 812 (Parts 890.3420 and 890.3025) of the FDA’s Product Classification Listings, external limb prosthetic components and accessories are defined as physical medicine devices and are generally considered class I devices.

Europe

Most prosthetic and orthotic devices are class I with a CE marking. Manufacturers and healthcare establishments supplying medical devices to be placed on the market either for use or distribution, at a cost or free of charge, will follow the regulations.
The hardware of a prosthetic device refers to all components up to where the socket is. Some of those components may be CE-marked while others may be custom-made. For example, prosthetic socket accessory to the medical device, which is treated as a medical device in its own right is covered by the regulations as it would be attached to the assembled hardware to be used as intended.

Global Orthopedic Prosthetics Market: Competitive Landscape

Major players operating in the global orthopedic prosthetics market include, Ossur hf, Hanger Inc., Otto Bock HealthCare GmbH, Blatchford Ltd., Touch Bionics Inc., The Ohio Willow Wood Co., Fillauer LLC. And Howard Orthopaedics Inc.

Global Orthopedic Prosthetics Market: Key Developments

Major players in the global orthopedic prosthetics market are focused on raising funds to expand their product portfolio. For instance, in December 2019, Ottobock SE & Co. KGaA, a provider of prosthetic limbs, orthotic supports, and wheelchairs, received financing of up to US$ 110 million from the European Investment Bank.

Orthopedic prosthetic devices are defined as external medical devices that substitute a missing skeletal part. Orthopedic prosthetics are a vital components for rehabilitation of injured or harmed skeletal system, associated musculature and joints. Increasing number of accidents is also expected to propel growth of the global orthopedic prosthetics market over the forecast period. Moreover, launch of advance prosthetics along with technological advancement in material design for prosthetics is also expected to aid in growth of the market.

Key features of the study:

This report provides in-depth analysis of the Global Orthopedic Prosthetics market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategy adopted by key players
It profiles key players in the Global Orthopedic Prosthetics market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
Key companies covered as a part of this study include, Ossur hf, Hanger Inc., Otto Bock HealthCare GmbH, Blatchford Ltd., Touch Bionics Inc., The Ohio Willow Wood Co., Fillauer LLC., and Howard Orthopaedics Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
The Global Orthopedic Prosthetics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Orthopedic Prosthetics market

Detailed Segmentation:

Global Orthopedic Prosthetics Market, By Product Type:
- Upper Extremity Prosthetics
  - Hand Prosthetics
  - Elbow Prosthetics
  - Shoulder Prosthetics
- Lower Extremity Prosthetics
  - Foot & Ankle Prosthetics
  - Knee Prosthetics
  - Hip Prosthetics
- Liners
- Sockets
- Modular Components
Global Orthopedic Prosthetics Market, By Technology:
- Conventional
- Electric Powered
- Hybrid Orthopedic Prosthetics
Global Orthopedic Prosthetics Market, By End User:
- Hospitals
- Prosthetic Clinics
- Rehabilitation Center
- Others
Global Orthopedic Prosthetics Market, By Region:
- North America
  - By Product Type:
    - Upper Extremity Prosthetics
      - Hand Prosthetics
      - Elbow Prosthetics
      - Shoulder Prosthetics
    - Lower Extremity Prosthetics
      - Foot & Ankle Prosthetics
      - Knee Prosthetics
      - Hip Prosthetics
    - Liners
    - Sockets
    - Modular Components
  - By Technology
    - Conventional
    - Electric Powered
    - Hybrid Orthopedic Prosthetics
  - By End User
    - Hospitals
    - Prosthetic Clinics
    - Rehabilitation Center
    - Others
  - By Country
    - U.S.
    - Canada
- Latin America
  - By Product Type:
    - Needle-based Biopsy Guns
    - Biopsy Needles
    - Biopsy Forceps
    - Biopsy Guidance Systems
    - Others
  - By Country
    - Brazil
    - Mexico
    - Argentina
    - Rest of Latin America
- Europe
  - By Product Type:
    - Upper Extremity Prosthetics
      - Hand Prosthetics
      - Elbow Prosthetics
      - Shoulder Prosthetics
    - Lower Extremity Prosthetics
      - Foot & Ankle Prosthetics
      - Knee Prosthetics
      - Hip Prosthetics
    - Liners
    - Sockets
    - Modular Components
  - By Technology
    - Conventional
    - Electric Powered
    - Hybrid Orthopedic Prosthetics
  - By End User
    - Hospitals
    - Prosthetic Clinics
    - Rehabilitation Center
    - Others
  - By Country
    - U.K.
    - Germany
    - France
    - Spain
    - Italy
    - Russia
    - Rest of Europe
- Asia Pacific
  - By Product Type:
    - Upper Extremity Prosthetics
      - Hand Prosthetics
      - Elbow Prosthetics
      - Shoulder Prosthetics
    - Lower Extremity Prosthetics
      - Foot & Ankle Prosthetics
      - Knee Prosthetics
      - Hip Prosthetics
    - Liners
    - Sockets
    - Modular Components
  - By Technology
    - Conventional
    - Electric Powered
    - Hybrid Orthopedic Prosthetics
  - By End User
    - Hospitals
    - Prosthetic Clinics
    - Rehabilitation Center
    - Others
  - By Country
    - China
    - Japan
    - India
    - Australia
    - South Korea
    - ASEAN
    - Rest of Asia Pacific
- Middle East
  - By Product Type:
    - Upper Extremity Prosthetics
      - Hand Prosthetics
      - Elbow Prosthetics
      - Shoulder Prosthetics
    - Lower Extremity Prosthetics
      - Foot & Ankle Prosthetics
      - Knee Prosthetics
      - Hip Prosthetics
    - Liners
    - Sockets
    - Modular Components
  - By Technology
    - Conventional
    - Electric Powered
    - Hybrid Orthopedic Prosthetics
  - By End User
    - Hospitals
    - Prosthetic Clinics
    - Rehabilitation Center
    - Others
  - By Country
    - GCC Countries
    - Israel
    - Rest of Middle East
- Africa
  - By Product Type:
    - Upper Extremity Prosthetics
      - Hand Prosthetics
      - Elbow Prosthetics
      - Shoulder Prosthetics
    - Lower Extremity Prosthetics
      - Foot & Ankle Prosthetics
      - Knee Prosthetics
      - Hip Prosthetics
    - Liners
    - Sockets
    - Modular Components
  - By Technology
    - Conventional
    - Electric Powered
    - Hybrid Orthopedic Prosthetics
  - By End User
    - Hospitals
    - Prosthetic Clinics
    - Rehabilitation Center
    - Others
  - By Country
    - North Africa
    - Central Africa
    - South Africa
Company Profiles
- Ossur hf *
  - Company Overview
  - Product Portfolio
  - Key Highlights
  - Financial Overview
  - Strategies
- Hanger Inc.
- Otto Bock HealthCare GmbH
- Blatchford Ltd.
- Touch Bionics Inc.
- The Ohio Willow Wood Co.
- Fillauer LLC
- Howard Orthopaedics Inc.
“*” marked represents similar segmentation in other categories in the respective section.

Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
Market Purview
- Report Description
  - Market Definition and Scope
- Executive Summary
  - Market Snippet, By Product Type
  - Markets Snippet, By Technology
  - Market Snippet, By End User
  - Market Snippet, By Region
  - Coherent Opportunity Map (COM)
Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
  - Drivers
  - Restraints
  - Market Opportunities
- Impact Analysis
- Key Highlights
- Product launch
- PEST Analysis
- Technological Advancements
- Regulatory Scenario
- Mergers and Acquisitions
COVID19 Impact on the Market
Global Orthopedic Prosthetics Market, By Product Type, 2019 – 2027, (US$ Mn)
- Introduction
  - Market Share Analysis, 2020 and 2027 (%)
  - Y-o-Y Growth Analysis, 2017 – 2027
  - Segment Trends
- Upper Extremity Prosthetics
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    - Hand Prosthetics
    - Elbow Prosthetics
    - Shoulder Prosthetics
- Lower Extremity Prosthetics
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    - Foot & Ankle Prosthetics
    - Knee Prosthetics
    - Hip Prosthetics
- Liners
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Sockets
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Modular Components
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
Global Orthopedic Prosthetics Market, By Product Type, 2019 – 2027, (US$ Mn)
- Introduction
  - Market Share Analysis, 2020 and 2027 (%)
  - Y-o-Y Growth Analysis, 2017 – 2027
  - Segment Trends
- Conventional
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Electric Powered
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Hybrid Orthopedic Prosthetics
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
Global Orthopedic Prosthetics Market, By End User, 2019 – 2027, (US$ Mn)
- Introduction
  - Market Share Analysis, 2020 and 2027 (%)
  - Y-o-Y Growth Analysis, 2017 – 2027
  - Segment Trends
- Hospitals
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Prosthetic Clinics
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Rehabilitation Center
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Others
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
Global Orthopedic Prosthetics Market, By Region, 2019 – 2027, (US$ Mn)
- Introduction
  - Market Share Analysis, By Region, 2020 and 2027 (%)
  - Y-o-Y Growth Analysis, For Regions, 2017–2026
- North America
  - Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
    - U.S.
    - Canada
- Latin America
  - Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
    - Brazil
    - Mexico
    - Argentina
    - Rest of Latin America
- Europe
  - Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
    - Germany
    - U.K.
    - France
    - Spain
    - Italy
    - Russia
    - Rest of Europe
- Asia Pacific
  - Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
    - China
    - Japan
    - India
    - Australia
    - South Korea
    - ASEAN
    - Rest of Asia Pacific
- Middle East
  - Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
    - GCC Countries
    - Israel
    - Rest of Middle East
- Africa
  - Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
  - Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
    - North Africa
    - Central Africa
    - South Africa
Competitive Landscape
- Company Profiles
  - Ossur hf
    - Company Overview
    - Product Portfolio
    - Financial Overview
    - Key Highlights
    - Market Strategies
  - Hanger Inc.
    - Company Overview
    - Product Portfolio
    - Financial Overview
    - Key Highlights
    - Market Strategies
  - Otto Bock HealthCare GmbH
    - Company Overview
    - Product Portfolio
    - Financial Overview
    - Key Highlights
    - Market Strategies
  - Blatchford Ltd.
    - Company Overview
    - Product Portfolio
    - Financial Overview
    - Key Highlights
    - Market Strategies
  - Touch Bionics Inc.
    - Company Overview
    - Product Portfolio
    - Financial Overview
    - Key Highlights
    - Market Strategies
  - The Ohio Willow Wood Co
    - Company Overview
    - Product Portfolio
    - Financial Overview
    - Key Highlights
    - Market Strategies
  - Fillauer LLC
    - Company Overview
    - Product Portfolio
    - Financial Overview
    - Key Highlights
    - Market Strategies
  - Howard Orthopaedics Inc.
    - Company Overview
    - Product Portfolio
    - Financial Overview
    - Key Highlights
    - Market Strategies
Section
- References
- Research Methodology
- About us and Sales Contact

*Browse 22 market data tables and 14 figures on “Orthopedic Prosthetics Market - Global forecast to 2027”.

Orthopedic Prosthetic Market Analysis

PRESS RELEASE

Impact Analysis of Covid-19

Orthopedic Prosthetics Market Report Coverage

Table of Contents

Frequently Asked Questions

What is the current market size and Compound Annual Growth Rate (CAGR) of the market during the forecast period (2020-2027)?

Which segment, based on product type, accounted for the highest demand in the market?

Which are the key factors driving the growth of the Global Orthopedic Prosthetics market?

What are the key factors hampering the growth of the market?

Which region held the largest market share in the Global Orthopedic Prosthetics market?

Who are the key players operating in this market?

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