+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Orthopedic Prosthetics Global Market Report 2023

  • PDF Icon

    Report

  • 250 Pages
  • February 2023
  • Region: Global
  • The Business Research Company
  • ID: 5733988

Quick Summary:

In the dynamic landscape of the orthopedic prosthetics industry, understanding market shifts and advantages is essential for active participants, from traditional heavyweights to innovative start-ups. Our comprehensive market research report is a valuable tool for anyone looking to navigate this complex landscape, identify opportunities and strategically position themselves for growth.

The report provides an insightful overview of the key elements shaping the global orthopedic prosthetics market such as the increasing number of trauma cases and accidental injuries. Our research also highlights the technological advancements driving the market, including the emergence of 3D printed orthopedic prosthetics. Regulatory challenges and entry barriers, pertinent to the FDA's stringent control over these devices, are thoroughly explained, providing a detailed understanding of the parameters affecting market growth. Additionally, the research report includes competitive landscape analyses featuring major companies such as Otto Bock HealthCare GmbH, Blatchford Ltd, and Zimmer Biomet Inc.

It provides an in-depth snapshot of the orthopedic prosthetics industry in various regions including North America, Western Europe, and Asia-Pacific. From industry trends to market segmentation, this report is an invaluable asset to executives looking to stay ahead in the rapidly evolving orthopedic prosthetics market. Be prepared for what's next with our comprehensive market research report.

The global orthopedic prosthetics market will grow from $1.86 billion in 2022 to $1.96 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The orthopedic prosthetics market is expected to grow to $2.42 billion in 2027 at a CAGR of 5.4%.

The orthopedic prosthetics market consists of sales of upper extremity prosthetics, lower extremity prosthetics, sockets, and others. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Orthopedic prosthetics are artificial devices that replace a missing body part that may be lost through trauma, disease, surgical removal of body appendage, disabling illness, or congenital conditions.

North America was the largest region in the orthopedic prosthetics market in 2022. Western Europe was the second-largest region in the orthopedic prosthetics market. The regions covered in the orthopedic prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The main product types of orthopedic prosthetics are upper extremity prosthetics, lower extremity prosthetics, sockets, and other products. Orthopedic prosthetics are artificial devices used to replace a missing body part lost due to disease, trauma, and surgical removal of body appendage, disabling illness, or congenital conditions. The technologies involved are conventional orthopedic prosthetics, electric-powered orthopedic prosthetics, and hybrid orthopedic prosthetics. The end-users are hospitals, prosthetic clinics, rehabilitation centres, and others.

The orthopedic prosthetics market is being driven by an increasing number of trauma cases and accidental injuries. The trauma cases and accidental injuries are caused by various factors such as road accidents, sports injuries, other medical complications, and work-related accidents. Most of these injuries may require amputations and prosthetic devices to replace the lost body part. For instance, 2.1 million people are living with limb loss in the USA, and that number is expected to double by 2050. 185,000 people in the U.S have an amputation each year. This means that 300 to 500 amputations have been performed every day. Therefore, driving the demand for orthopedic prosthetics, thus growth in the orthopedic prosthetics market.

The orthopedic prosthetics market is being restrained by entry barriers due to guidelines by the FDA's regulatory control over these devices based on the risks associated with them. These devices fall into the class III category as per the FDA, which includes devices involving high risk associated with the usage. Class III devices are required to undergo a premarket approval application (PMA), which is the FDA process of scientific evaluation for assessing the safety of these devices. Such stringent guidelines associated with these devices are creating an entry barrier and thus restraining the orthopedic prosthetics market. For instance, DePuy's hip prosthetic device was denied approval by the FDA after it was assessed as unsafe, thus creating an entry barrier and restraining the market.

The companies in the orthopedic prosthetics market are witnessing the emergence of 3D printed orthopedic prosthetics. 3D printing is a process that involves a digital model being transformed into a three-dimensional solid object. 3D printed orthopedic prosthetics are devices that are manufactured by the process of 3D printing. These devices have shorter lead times, lower costs and consistent quality. For instance, Zdravprint is a Russian company that is developing prosthetics for the hand, elbow, and shoulder using 3D printing technology.

The orthopedic prosthetics market is regulated as per the guidelines by the food and drug administration (FDA). The FDA has subjected these devices under the class III category, which includes those devices involving a high risk associated with the usage. Class III devices are required to undergo a premarket approval application (PMA) before they can be used. PMA is the process followed by the FDA for scientific evaluation, to assess the safety of the devices. If a PMA application is found to be lacking valid clinical assessment and correct scientific reasoning, it impacts the FDA's approval and prevents the prosthetic device from being released into the market.

In October 2022, Patient Square Capital, a US-based healthcare investment firm acquired Hanger Inc for $18.75 in cash per stock. The acquisition would make Hanger a private company and help it better serve its customers and continue its growth. Hanger inc is a US-based manufacturer of Orthotic and prosthetic patient care services and solutions.

The countries covered in the orthopedic prosthetics market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The orthopedic prosthetics market research report is one of a series of new reports that provides orthopedic prosthetics market statistics, including orthopedic prosthetics industry global market size, regional shares, competitors with a orthopedic prosthetics market share, detailed orthopedic prosthetics market segments, market trends and opportunities, and any further data you may need to thrive in the orthopedic prosthetics industry. This orthopedic prosthetics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Major players in the orthopedic prosthetics market are Otto Bock HealthCare GmbH, Blatchford Ltd, Zimmer Biomet Inc, DePuy Synthes, Stryker Corporation, The Ohio Willow Wood Co, Ossur, Smith and Nephew plc, Biomet Inc, and Touch Bionics Inc.



This product will be delivered within 1-3 business days.
Frequently Asked Questions about the Global Orthopedic Prosthetics Market

What is the estimated value of the Global Orthopedic Prosthetics Market?

The Global Orthopedic Prosthetics Market was estimated to be valued at $1.96 billion in 2023.

What is the growth rate of the Global Orthopedic Prosthetics Market?

The growth rate of the Global Orthopedic Prosthetics Market is 5.4%, with an estimated value of $2.42 billion by 2027.

What is the forecasted size of the Global Orthopedic Prosthetics Market?

The Global Orthopedic Prosthetics Market is estimated to be worth $2.42 billion by 2027.

Who are the key companies in the Global Orthopedic Prosthetics Market?

Key companies in the Global Orthopedic Prosthetics Market include Otto Bock HealthCare GmbH, Blatchford Ltd., Zimmer Biomet Inc., DePuy Synthes, Stryker Corporation., The Ohio Willow Wood Co, Ossur, Smith and Nephew plc, Biomet Inc. and Touch Bionics Inc..

Table of Contents

1. Executive Summary

2. Orthopedic Prosthetics Market Characteristics

3. Orthopedic Prosthetics Market Trends And Strategies

4. Orthopedic Prosthetics Market - Macro Economic Scenario
4.1 COVID-19 Impact On Orthopedic Prosthetics Market
4.2 Ukraine-Russia War Impact On Orthopedic Prosthetics Market
4.3 Impact Of High Inflation On Orthopedic Prosthetics Market

5. Orthopedic Prosthetics Market Size And Growth
5.1. Global Orthopedic Prosthetics Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Orthopedic Prosthetics Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Orthopedic Prosthetics Market Segmentation
6.1. Global Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Upper Extremity Prosthetics
  • Lower Extremity Prosthetics
  • Sockets
  • Other Products
6.2. Global Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Hospitals
  • Prosthetic Clinics
  • Rehabilitation Center
  • Other End Users
6.3. Global Orthopedic Prosthetics Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Conventional orthopedic prosthetics
  • Electric-powered orthopedic prosthetics
  • Hybrid orthopedic prosthetics
7. Orthopedic Prosthetics Market Regional And Country Analysis
7.1. Global Orthopedic Prosthetics Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Orthopedic Prosthetics Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Orthopedic Prosthetics Market
8.1. Asia-Pacific Orthopedic Prosthetics Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8.3. Asia-Pacific Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Orthopedic Prosthetics Market
9.1. China Orthopedic Prosthetics Market Overview
9.2. China Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
9.3. China Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Orthopedic Prosthetics Market
10.1. India Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
10.2. India Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Orthopedic Prosthetics Market
11.1. Japan Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11.2. Japan Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Orthopedic Prosthetics Market
12.1. Australia Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12.2. Australia Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Orthopedic Prosthetics Market
13.1. Indonesia Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13.2. Indonesia Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Orthopedic Prosthetics Market
14.1. South Korea Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14.2. South Korea Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Orthopedic Prosthetics Market
15.1. Western Europe Orthopedic Prosthetics Market Overview
15.2. Western Europe Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15.3. Western Europe Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Orthopedic Prosthetics Market
16.1. UK Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16.2. UK Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Orthopedic Prosthetics Market
17.1. Germany Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17.2. Germany Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Orthopedic Prosthetics Market
18.1. France Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18.2. France Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Orthopedic Prosthetics Market
19.1. Eastern Europe Orthopedic Prosthetics Market Overview
19.2. Eastern Europe Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19.3. Eastern Europe Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Orthopedic Prosthetics Market
20.1. Russia Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20.2. Russia Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Orthopedic Prosthetics Market
21.1. North America Orthopedic Prosthetics Market Overview
21.2. North America Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21.3. North America Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Orthopedic Prosthetics Market
22.1. USA Orthopedic Prosthetics Market Overview
22.2. USA Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22.3. USA Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Orthopedic Prosthetics Market
23.1. South America Orthopedic Prosthetics Market Overview
23.2. South America Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23.3. South America Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Orthopedic Prosthetics Market
24.1. Brazil Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24.2. Brazil Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Orthopedic Prosthetics Market
25.1. Middle East Orthopedic Prosthetics Market Overview
25.2. Middle East Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25.3. Middle East Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Orthopedic Prosthetics Market
26.1. Africa Orthopedic Prosthetics Market Overview
26.2. Africa Orthopedic Prosthetics Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26.3. Africa Orthopedic Prosthetics Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Orthopedic Prosthetics Market Competitive Landscape And Company Profiles
27.1. Orthopedic Prosthetics Market Competitive Landscape
27.2. Orthopedic Prosthetics Market Company Profiles
27.2.1. Otto Bock HealthCare GmbH
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Blatchford Ltd
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Zimmer Biomet Inc.
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. DePuy Synthes
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Stryker Corporation
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The Orthopedic Prosthetics Market

29. Orthopedic Prosthetics Market Future Outlook and Potential Analysis

30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer

Executive Summary

Orthopedic Prosthetics Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on orthopedic prosthetics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Where is the largest and fastest growing market for orthopedic prosthetics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The orthopedic prosthetics market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Scope

Markets Covered

1) By Product Type: Upper Extremity Prosthetics; Lower Extremity Prosthetics; Sockets; Other Products
2) By End Users: Hospitals; Prosthetic Clinics; Rehabilitation Center; Other End Users
3) By Technology: Conventional orthopedic prosthetics; Electric-powered orthopedic prosthetics; Hybrid orthopedic prosthetics

Companies Mentioned: Otto Bock HealthCare GmbH; Blatchford Ltd.; Zimmer Biomet Inc.; DePuy Synthes; Stryker Corporation.

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Otto Bock HealthCare GmbH
  • Blatchford Ltd.
  • Zimmer Biomet Inc.
  • DePuy Synthes
  • Stryker Corporation.
  • The Ohio Willow Wood Co
  • Ossur
  • Smith and Nephew plc
  • Biomet Inc.
  • Touch Bionics Inc.
  • Fillauer
  • Advanced Arm Dynamics
  • Stryker Corp
  • Bock Healthcare Gmbh
  • Medtronic Spinal
  • DJO Global
  • Integra Lifesciences
  • NuVasive Inc.
  • Globus Medical
  • Wright Medical
  • Arthrex
  • Johnson & Johnson Services
  • OrthoPediatrics
  • Pega Medical
  • WishBone Medical
  • Hanger Inc.
  • Howard Orthopaedics Inc.
  • Exactech
  • Inc.

Methodology

Loading
LOADING...