The prosthetics market was valued at $1,604.69 million in 2021 and is projected to reach $2,484.12 million by 2031, registering a CAGR of 4.5% from 2022 to 2031.
Prosthetics refers to an artificial substitute or replacement of a part of the body such as a tooth, eye, facial bone, hip, knee or another joint, the leg, and an arm. Prostheses are intended to restore the normal functions of the missing body part. They can be created by hand or with the use of design with the help of computer-aided design (CAD), a software interface that helps creators design and analyze the creation with computer-generated 2D and 3-D graphics as well as analysis and optimization tools. Advances in the technology of prosthetic components have improved the possibility of successfully fitting the geriatric amputee with a prosthesis. Innovations in socket designs, lightweight components, improved suspensions, and stable knee design options contribute to improved prosthetic tolerance and better functional outcomes for elderly amputees. There are two types of prosthesis, the preparatory prosthesis includes basic components that are easily adjusted but are not finished cosmetically while definitive prosthesis is the finished product with all the appropriate components and cosmetic touches. A patient with fragile skin or sensitivity in the residual limb may benefit from soft insert materials, such as silicone, that are designed to dissipate shock and shear forces.
The growth of the prosthetics market is driven by a surge in the incidence of injuries related to lower and upper extremities, increase in availability & affordability of tests, and incidences of osteosarcoma that help to increase the demand for prosthetics products. Moreover, large medical technology firms all over the world are increasingly focusing on acquiring companies that provide solutions for prosthetics, which is expected to notably contribute toward market growth. Furthermore, the global prosthetics market growth is largely driven by factors such as an increase in deaths due to bone and joint cancer that made people to become more reliant on prosthetics products, which is expected to surely lead to the growth of the market. Prominent players in the global prosthetics market have opted for various Strategies such as product launches, acquisitions, and investments in R&D for advancement in prosthetics to strengthen their position in the market and sustain the competitive environment.
A significant increase in awareness about the advantages of prosthetics products and technological advancements in prosthetics, and an increase in the number of accidents and trauma are some of the key factors driving the growth of the market. However, the high cost and greater maintenance associated with these devices and lack of reimbursement policies hamper the market growth. Conversely, increased government initiatives to support amputation initiatives to support amputee patient population is expected to provide lucrative opportunities for the growth of the market in near future. Extensive R&D activities in the field of prosthetics along with significant improvement in medical infrastructure are anticipated to open new avenues for the expansion of the market.
The prosthetics market is segmented on the basis of product, design, end user, and region. On the basis of product, the market is classified into upper extremity prosthetics, lower extremity prosthetics and others. On the basis of design, the market is bifurcated into exoskeletal design and endoskeletal design. On the basis of end user, the market is categorized into prosthetics clinics, hospitals, and others. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major companies profiled in the report include Aesthetic Prosthetics Inc., Aether Biomedical, B. Braun Melsungen AG, Blatchford Limited, Integra Lifesciences Holdings, Mobius Bionics LLC, Ossur, Ottobock SE and Co. KGaA, Steeper Group, Stryker Corporation.
Prosthetics refers to an artificial substitute or replacement of a part of the body such as a tooth, eye, facial bone, hip, knee or another joint, the leg, and an arm. Prostheses are intended to restore the normal functions of the missing body part. They can be created by hand or with the use of design with the help of computer-aided design (CAD), a software interface that helps creators design and analyze the creation with computer-generated 2D and 3-D graphics as well as analysis and optimization tools. Advances in the technology of prosthetic components have improved the possibility of successfully fitting the geriatric amputee with a prosthesis. Innovations in socket designs, lightweight components, improved suspensions, and stable knee design options contribute to improved prosthetic tolerance and better functional outcomes for elderly amputees. There are two types of prosthesis, the preparatory prosthesis includes basic components that are easily adjusted but are not finished cosmetically while definitive prosthesis is the finished product with all the appropriate components and cosmetic touches. A patient with fragile skin or sensitivity in the residual limb may benefit from soft insert materials, such as silicone, that are designed to dissipate shock and shear forces.
The growth of the prosthetics market is driven by a surge in the incidence of injuries related to lower and upper extremities, increase in availability & affordability of tests, and incidences of osteosarcoma that help to increase the demand for prosthetics products. Moreover, large medical technology firms all over the world are increasingly focusing on acquiring companies that provide solutions for prosthetics, which is expected to notably contribute toward market growth. Furthermore, the global prosthetics market growth is largely driven by factors such as an increase in deaths due to bone and joint cancer that made people to become more reliant on prosthetics products, which is expected to surely lead to the growth of the market. Prominent players in the global prosthetics market have opted for various Strategies such as product launches, acquisitions, and investments in R&D for advancement in prosthetics to strengthen their position in the market and sustain the competitive environment.
A significant increase in awareness about the advantages of prosthetics products and technological advancements in prosthetics, and an increase in the number of accidents and trauma are some of the key factors driving the growth of the market. However, the high cost and greater maintenance associated with these devices and lack of reimbursement policies hamper the market growth. Conversely, increased government initiatives to support amputation initiatives to support amputee patient population is expected to provide lucrative opportunities for the growth of the market in near future. Extensive R&D activities in the field of prosthetics along with significant improvement in medical infrastructure are anticipated to open new avenues for the expansion of the market.
The prosthetics market is segmented on the basis of product, design, end user, and region. On the basis of product, the market is classified into upper extremity prosthetics, lower extremity prosthetics and others. On the basis of design, the market is bifurcated into exoskeletal design and endoskeletal design. On the basis of end user, the market is categorized into prosthetics clinics, hospitals, and others. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major companies profiled in the report include Aesthetic Prosthetics Inc., Aether Biomedical, B. Braun Melsungen AG, Blatchford Limited, Integra Lifesciences Holdings, Mobius Bionics LLC, Ossur, Ottobock SE and Co. KGaA, Steeper Group, Stryker Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the prosthetics market analysis from 2021 to 2031 to identify the prevailing prosthetics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the prosthetics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global prosthetics market trends, key players, market segments, application areas, and market growth Strategies.
Key Market Segments
By Product
- Upper Extremity Prosthetics
- Lower Extremity Prosthetics
By Design
- Exoskeletal Design
- Endoskeletal Design
By End User
- Prosthetics Clinics
- Hospitals
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Aesthetic Prosthetics Inc.
- Össur
- Blatchford Limited
- Integra LifeSciences Holdings
- Steeper Group
- Ottobock SE & Co. KGaA (suit X)
- Stryker Corporation
- B. Braun Melsungen AG
- Aether Biomedical
- Mobius Bionics LLC
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Intensity of rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Increase in advancements in prosthetics
3.4.1.2. Increase in the number of accidents and trauma
3.4.1.3. Increase in prevalence of bone conditions
3.4.2. Restraints
3.4.2.1. High cost associated with prosthetics and greater maintenance associated with these device
3.4.2.2. Lack in the reimbursement policies for amputation
3.4.3. Opportunities
3.4.3.1. Increase in the government support for the amputees
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: PROSTHETICS MARKET, BY PRODUCT
4.1. Overview
4.1.1. Market size and forecast
4.2. Upper Extremity Prosthetics
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Lower Extremity Prosthetics
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Others
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
CHAPTER 5: PROSTHETICS MARKET, BY DESIGN
5.1. Overview
5.1.1. Market size and forecast
5.2. Exoskeletal Design
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Endoskeletal Design
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
CHAPTER 6: PROSTHETICS MARKET, BY END USER
6.1. Overview
6.1.1. Market size and forecast
6.2. Prosthetics Clinics
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Hospitals
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Others
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
CHAPTER 7: PROSTHETICS MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
7.2. North America
7.2.1. Key trends and opportunities
7.2.2. Market size and forecast, by Product
7.2.3. Market size and forecast, by Design
7.2.4. Market size and forecast, by End User
7.2.5. Market size and forecast, by country
7.2.5.1. U.S.
7.2.5.1.1. Key market trends, growth factors and opportunities
7.2.5.1.2. Market size and forecast, by Product
7.2.5.1.3. Market size and forecast, by Design
7.2.5.1.4. Market size and forecast, by End User
7.2.5.2. Canada
7.2.5.2.1. Key market trends, growth factors and opportunities
7.2.5.2.2. Market size and forecast, by Product
7.2.5.2.3. Market size and forecast, by Design
7.2.5.2.4. Market size and forecast, by End User
7.2.5.3. Mexico
7.2.5.3.1. Key market trends, growth factors and opportunities
7.2.5.3.2. Market size and forecast, by Product
7.2.5.3.3. Market size and forecast, by Design
7.2.5.3.4. Market size and forecast, by End User
7.3. Europe
7.3.1. Key trends and opportunities
7.3.2. Market size and forecast, by Product
7.3.3. Market size and forecast, by Design
7.3.4. Market size and forecast, by End User
7.3.5. Market size and forecast, by country
7.3.5.1. Germany
7.3.5.1.1. Key market trends, growth factors and opportunities
7.3.5.1.2. Market size and forecast, by Product
7.3.5.1.3. Market size and forecast, by Design
7.3.5.1.4. Market size and forecast, by End User
7.3.5.2. France
7.3.5.2.1. Key market trends, growth factors and opportunities
7.3.5.2.2. Market size and forecast, by Product
7.3.5.2.3. Market size and forecast, by Design
7.3.5.2.4. Market size and forecast, by End User
7.3.5.3. UK
7.3.5.3.1. Key market trends, growth factors and opportunities
7.3.5.3.2. Market size and forecast, by Product
7.3.5.3.3. Market size and forecast, by Design
7.3.5.3.4. Market size and forecast, by End User
7.3.5.4. Italy
7.3.5.4.1. Key market trends, growth factors and opportunities
7.3.5.4.2. Market size and forecast, by Product
7.3.5.4.3. Market size and forecast, by Design
7.3.5.4.4. Market size and forecast, by End User
7.3.5.5. Spain
7.3.5.5.1. Key market trends, growth factors and opportunities
7.3.5.5.2. Market size and forecast, by Product
7.3.5.5.3. Market size and forecast, by Design
7.3.5.5.4. Market size and forecast, by End User
7.3.5.6. Rest of Europe
7.3.5.6.1. Key market trends, growth factors and opportunities
7.3.5.6.2. Market size and forecast, by Product
7.3.5.6.3. Market size and forecast, by Design
7.3.5.6.4. Market size and forecast, by End User
7.4. Asia-Pacific
7.4.1. Key trends and opportunities
7.4.2. Market size and forecast, by Product
7.4.3. Market size and forecast, by Design
7.4.4. Market size and forecast, by End User
7.4.5. Market size and forecast, by country
7.4.5.1. China
7.4.5.1.1. Key market trends, growth factors and opportunities
7.4.5.1.2. Market size and forecast, by Product
7.4.5.1.3. Market size and forecast, by Design
7.4.5.1.4. Market size and forecast, by End User
7.4.5.2. Japan
7.4.5.2.1. Key market trends, growth factors and opportunities
7.4.5.2.2. Market size and forecast, by Product
7.4.5.2.3. Market size and forecast, by Design
7.4.5.2.4. Market size and forecast, by End User
7.4.5.3. India
7.4.5.3.1. Key market trends, growth factors and opportunities
7.4.5.3.2. Market size and forecast, by Product
7.4.5.3.3. Market size and forecast, by Design
7.4.5.3.4. Market size and forecast, by End User
7.4.5.4. Australia
7.4.5.4.1. Key market trends, growth factors and opportunities
7.4.5.4.2. Market size and forecast, by Product
7.4.5.4.3. Market size and forecast, by Design
7.4.5.4.4. Market size and forecast, by End User
7.4.5.5. South Korea
7.4.5.5.1. Key market trends, growth factors and opportunities
7.4.5.5.2. Market size and forecast, by Product
7.4.5.5.3. Market size and forecast, by Design
7.4.5.5.4. Market size and forecast, by End User
7.4.5.6. Rest of Asia-Pacific
7.4.5.6.1. Key market trends, growth factors and opportunities
7.4.5.6.2. Market size and forecast, by Product
7.4.5.6.3. Market size and forecast, by Design
7.4.5.6.4. Market size and forecast, by End User
7.5. LAMEA
7.5.1. Key trends and opportunities
7.5.2. Market size and forecast, by Product
7.5.3. Market size and forecast, by Design
7.5.4. Market size and forecast, by End User
7.5.5. Market size and forecast, by country
7.5.5.1. Brazil
7.5.5.1.1. Key market trends, growth factors and opportunities
7.5.5.1.2. Market size and forecast, by Product
7.5.5.1.3. Market size and forecast, by Design
7.5.5.1.4. Market size and forecast, by End User
7.5.5.2. Saudi Arabia
7.5.5.2.1. Key market trends, growth factors and opportunities
7.5.5.2.2. Market size and forecast, by Product
7.5.5.2.3. Market size and forecast, by Design
7.5.5.2.4. Market size and forecast, by End User
7.5.5.3. South Africa
7.5.5.3.1. Key market trends, growth factors and opportunities
7.5.5.3.2. Market size and forecast, by Product
7.5.5.3.3. Market size and forecast, by Design
7.5.5.3.4. Market size and forecast, by End User
7.5.5.4. Rest of LAMEA
7.5.5.4.1. Key market trends, growth factors and opportunities
7.5.5.4.2. Market size and forecast, by Product
7.5.5.4.3. Market size and forecast, by Design
7.5.5.4.4. Market size and forecast, by End User
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
9.1. Aesthetic Prosthetics Inc.
9.1.1. Company overview
9.1.2. Key Executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.2. Stryker Corporation
9.2.1. Company overview
9.2.2. Key Executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.2.6. Business performance
9.3. Össur
9.3.1. Company overview
9.3.2. Key Executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Business performance
9.4. Blatchford Limited
9.4.1. Company overview
9.4.2. Key Executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.5. B. Braun Melsungen AG
9.5.1. Company overview
9.5.2. Key Executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.5.6. Business performance
9.6. Integra LifeSciences Holdings
9.6.1. Company overview
9.6.2. Key Executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Business performance
9.7. Mobius Bionics LLC
9.7.1. Company overview
9.7.2. Key Executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.8. Aether Biomedical
9.8.1. Company overview
9.8.2. Key Executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.9. Steeper Group
9.9.1. Company overview
9.9.2. Key Executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.10. Ottobock SE & Co. KGaA (suit X)
9.10.1. Company overview
9.10.2. Key Executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
List of Tables
Table 01. Global Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 02. Prosthetics Market for Upper Extremity Prosthetics, by Region, 2021-2031 (Revenue, $Million)
Table 03. Prosthetics Market for Lower Extremity Prosthetics, by Region, 2021-2031 (Revenue, $Million)
Table 04. Prosthetics Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 05. Global Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 06. Prosthetics Market for Exoskeletal Design, by Region, 2021-2031 (Revenue, $Million)
Table 07. Prosthetics Market for Endoskeletal Design, by Region, 2021-2031 (Revenue, $Million)
Table 08. Global Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 09. Prosthetics Market for Prosthetics Clinics, by Region, 2021-2031 (Revenue, $Million)
Table 10. Prosthetics Market for Hospitals, by Region, 2021-2031 (Revenue, $Million)
Table 11. Prosthetics Market for Others, by Region, 2021-2031 (Revenue, $Million)
Table 12. Prosthetics Market, by Region, 2021-2031 (Revenue, $Million)
Table 13. North America Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 14. North America Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 15. North America Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 16. North America Prosthetics Market, by Country, 2021-2031 (Revenue, $Million)
Table 17. U.S. Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 18. U.S. Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 19. U.S. Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 20. Canada Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 21. Canada Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 22. Canada Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 23. Mexico Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 24. Mexico Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 25. Mexico Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 26. Europe Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 27. Europe Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 28. Europe Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 29. Europe Prosthetics Market, by Country, 2021-2031 (Revenue, $Million)
Table 30. Germany Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 31. Germany Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 32. Germany Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 33. France Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 34. France Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 35. France Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 36. UK Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 37. UK Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 38. UK Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 39. Italy Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 40. Italy Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 41. Italy Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 42. Spain Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 43. Spain Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 44. Spain Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 45. Rest of Europe Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 46. Rest of Europe Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 47. Rest of Europe Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 48. Asia-Pacific Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 49. Asia-Pacific Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 50. Asia-Pacific Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 51. Asia-Pacific Prosthetics Market, by Country, 2021-2031 (Revenue, $Million)
Table 52. China Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 53. China Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 54. China Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 55. Japan Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 56. Japan Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 57. Japan Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 58. India Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 59. India Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 60. India Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 61. Australia Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 62. Australia Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 63. Australia Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 64. South Korea Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 65. South Korea Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 66. South Korea Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 67. Rest of Asia-Pacific Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 68. Rest of Asia-Pacific Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 69. Rest of Asia-Pacific Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 70. LAMEA Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 71. LAMEA Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 72. LAMEA Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 73. LAMEA Prosthetics Market, by Country, 2021-2031 (Revenue, $Million)
Table 74. Brazil Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 75. Brazil Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 76. Brazil Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 77. Saudi Arabia Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 78. Saudi Arabia Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 79. Saudi Arabia Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 80. South Africa Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 81. South Africa Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 82. South Africa Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 83. Rest of LAMEA Prosthetics Market, by Product, 2021-2031 (Revenue, $Million)
Table 84. Rest of LAMEA Prosthetics Market, by Design, 2021-2031 (Revenue, $Million)
Table 85. Rest of LAMEA Prosthetics Market, by End-user, 2021-2031 (Revenue, $Million)
Table 86. Aesthetic Prosthetics Inc.: Key Executives
Table 87. Aesthetic Prosthetics Inc.: Company Snapshot
Table 88. Aesthetic Prosthetics Inc.: Product Segments
Table 89. Aesthetic Prosthetics Inc.: Product Portfolio
Table 90. Stryker Corporation: Key Executives
Table 91. Stryker Corporation: Company Snapshot
Table 92. Stryker Corporation: Product Segments
Table 93. Stryker Corporation: Product Portfolio
Table 94. Össur: Key Executives
Table 95. Össur: Company Snapshot
Table 96. Össur: Product Segments
Table 97. Össur: Product Portfolio
Table 98. Blatchford Limited: Key Executives
Table 99. Blatchford Limited: Company Snapshot
Table 100. Blatchford Limited: Product Segments
Table 101. Blatchford Limited: Product Portfolio
Table 102. B. Braun Melsungen AG: Key Executives
Table 103. B. Braun Melsungen AG: Company Snapshot
Table 104. B. Braun Melsungen AG: Product Segments
Table 105. B. Braun Melsungen AG: Product Portfolio
Table 106. Integra Lifesciences Holdings: Key Executives
Table 107. Integra Lifesciences Holdings: Company Snapshot
Table 108. Integra Lifesciences Holdings: Product Segments
Table 109. Integra Lifesciences Holdings: Product Portfolio
Table 110. Mobius Bionics LLC: Key Executives
Table 111. Mobius Bionics LLC: Company Snapshot
Table 112. Mobius Bionics LLC: Product Segments
Table 113. Mobius Bionics LLC: Product Portfolio
Table 114. Aether Biomedical : Key Executives
Table 115. Aether Biomedical : Company Snapshot
Table 116. Aether Biomedical : Product Segments
Table 117. Aether Biomedical : Product Portfolio
Table 118. Steeper Group: Key Executives
Table 119. Steeper Group: Company Snapshot
Table 120. Steeper Group: Product Segments
Table 121. Steeper Group: Product Portfolio
Table 122. Ottobock SE & Co. KGaA (Suit X): Key Executives
Table 123. Ottobock SE & Co. KGaA (Suit X): Company Snapshot
Table 124. Ottobock SE & Co. KGaA (Suit X): Product Segments
Table 125. Ottobock SE & Co. KGaA (Suit X): Product Portfolio
List of Figures
Figure 01. Prosthetics Market, 2021-2031
Figure 02. Segmentation of Prosthetics Market, 2021-2031
Figure 03. Top Investment Pockets in Prosthetics Market (2022-2031)
Figure 04. High Bargaining Power of Suppliers
Figure 05. Moderate Bargaining Power of Buyers
Figure 06. Moderate Threat of Substitutes
Figure 07. Moderate Threat of New Entrants
Figure 08. Moderate Intensity of Rivalry
Figure 09. Drivers, Restraints and Opportunities: Globalprosthetics Market
Figure 10. Prosthetics Market, by Product, 2021(%)
Figure 11. Comparative Share Analysis of Prosthetics Market for Upper Extremity Prosthetics, by Country 2021-2031(%)
Figure 12. Comparative Share Analysis of Prosthetics Market for Lower Extremity Prosthetics, by Country 2021-2031(%)
Figure 13. Comparative Share Analysis of Prosthetics Market for Others, by Country 2021-2031(%)
Figure 14. Prosthetics Market, by Design, 2021(%)
Figure 15. Comparative Share Analysis of Prosthetics Market for Exoskeletal Design, by Country 2021-2031(%)
Figure 16. Comparative Share Analysis of Prosthetics Market for Endoskeletal Design, by Country 2021-2031(%)
Figure 17. Prosthetics Market, by End-user, 2021(%)
Figure 18. Comparative Share Analysis of Prosthetics Market for Prosthetics Clinics, by Country 2021-2031(%)
Figure 19. Comparative Share Analysis of Prosthetics Market for Hospitals, by Country 2021-2031(%)
Figure 20. Comparative Share Analysis of Prosthetics Market for Others, by Country 2021-2031(%)
Figure 21. Prosthetics Market by Region, 2021
Figure 22. U.S. Prosthetics Market, 2021-2031 ($Million)
Figure 23. Canada Prosthetics Market, 2021-2031 ($Million)
Figure 24. Mexico Prosthetics Market, 2021-2031 ($Million)
Figure 25. Germany Prosthetics Market, 2021-2031 ($Million)
Figure 26. France Prosthetics Market, 2021-2031 ($Million)
Figure 27. UK Prosthetics Market, 2021-2031 ($Million)
Figure 28. Italy Prosthetics Market, 2021-2031 ($Million)
Figure 29. Spain Prosthetics Market, 2021-2031 ($Million)
Figure 30. Rest of Europe Prosthetics Market, 2021-2031 ($Million)
Figure 31. China Prosthetics Market, 2021-2031 ($Million)
Figure 32. Japan Prosthetics Market, 2021-2031 ($Million)
Figure 33. India Prosthetics Market, 2021-2031 ($Million)
Figure 34. Australia Prosthetics Market, 2021-2031 ($Million)
Figure 35. South Korea Prosthetics Market, 2021-2031 ($Million)
Figure 36. Rest of Asia-Pacific Prosthetics Market, 2021-2031 ($Million)
Figure 37. Brazil Prosthetics Market, 2021-2031 ($Million)
Figure 38. Saudi Arabia Prosthetics Market, 2021-2031 ($Million)
Figure 39. South Africa Prosthetics Market, 2021-2031 ($Million)
Figure 40. Rest of LAMEA Prosthetics Market, 2021-2031 ($Million)
Figure 41. Top Winning Strategies, by Year
Figure 42. Top Winning Strategies, by Development
Figure 43. Top Winning Strategies, by Company
Figure 44. Product Mapping of Top 10 Players
Figure 45. Competitive Dashboard
Figure 46. Competitive Heatmap: Prosthetics Market
Figure 47. Top Player Positioning, 2021
Figure 48. Stryker Corporation: Net Revenue, 2019-2021 ($Million)
Figure 49. Stryker Corporation: Revenue Share by Segment, 2021 (%)
Figure 50. Stryker Corporation: Revenue Share by Region, 2021 (%)
Figure 51. Össur: Net Sales, 2019-2021 ($Million)
Figure 52. Össur: Revenue Share by Segment, 2021 (%)
Figure 53. Össur: Revenue Share by Region, 2021 (%)
Figure 54. B. Braun Melsungen AG: Net Sales, 2019-2021 ($Million)
Figure 55. B. Braun Melsungen AG: Revenue Share by Region, 2021 (%)
Figure 56. B. Braun Melsungen AG: Revenue Share by Segment, 2021 (%)
Figure 57. Integra Lifesciences Holdings: Net Revenue, 2019-2021 ($Million)
Figure 58. Integra Lifesciences Holdings: Research & Development Expenditure, 2019-2021
Figure 59. Integra Lifesciences Holdings: Revenue Share by Region, 2021 (%)
Figure 60. Integra Lifesciences Holdings: Revenue Share by Segment, 2021 (%)
Executive Summary
According to the report titled, 'Prosthetics Market,' the prosthetics market was valued at $1.6 billion in 2021, and is estimated to reach $2.5 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.A prosthetic is an artificial limb that replaces a missing body part. Its goal is to replace as much function of the original limb as possible. In case of the demand of the prosthetics then many amputees have lost a limb as part of treatment for cancer, diabetes or severe infection. A prosthesis might also be an alternative to reconstructive surgery; for example, after removal of a nose or breast to treat cancer. Modern prostheses for areas such as the hands, feet and face look very natural. They are often used to improve appearance rather than function.
Key factors driving the growth of the prosthetics market include technological advancements in prosthetic, increase in number of accidents and trauma, rise in prevalence of bone conditions such as osteosarcoma, osteoporosis and osteopenia, increase in injuries related to lower and upper extremities and increase in deaths due to bone and joint cancer that is helping the to shift the preference of people for becoming more reliable on prosthetics product which is expected to notably contribute toward the market growth. For instance, according to the data by article published on Taylor & Francis Group named Bone Health 2022; an update, in 2022, osteoporosis caused more than 8.9 million fractures annually, resulting in an osteoporotic fracture every 3 seconds. It is estimated that osteoporosis affected 200 million women worldwide. One-tenth of women aged 60, one-fifth of women aged 70, two-fifths of women aged 80 and, actually two-thirds of women aged 90 carried this diagnosis.
Also, the innovation, acceptance, and awareness about advantages of prosthetics products, various initiatives & funding from government & private bodies for innovation in medical devices thereby boosting the growth of market. However, increase in costs of the devices and surgical services is expected to hinder the growth of the market.
The market also offers growth opportunities to the key players in the market. The target population is in tremendous need of the devices in the region like North America and Asia-Pacific. Hence, challenges to supply of the devices for the target population in the region provides the growth opportunities.
The prosthetics market is segmented on the basis of product, design, end user, and region. On the basis of product, the market is classified into upper extremity prosthetics, lower extremity prosthetics and others. On the basis of design, the market is bifurcated into exoskeletal design and endoskeletal design. On the basis of end user, the market is categorized into prosthetics clinics, hospitals, and others. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include Aesthetic Prosthetics Inc., Aether Biomedical, B. Braun Melsungen AG, Blatchford Limited, Integra Lifesciences Holdings, Mobius Bionics LLC, Ossur, Ottobock SE and Co. KGaA, Steeper Group and Stryker Corporation. The players in the market have been actively engaged in the adoption various Strategies such as product approval, product launch, agreement and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in February 2022, Össur announced launched its new POWER KNEETM, the world's first actively powered microprocessor prosthetic knee for people with above-knee amputation or limb difference. The POWER KNEE is groundbreaking bionic technology a motor-powered ''smart'prosthesis that uses advanced algorithms to detect human movement patterns, learns and adjusts to its wearer's speed and cadence in real-time
Key Market Insights
By product, the lower extremity prosthetics segment is the highest revenue contributor to the market and estimated to continue this during the analysis period, with a CAGR of 4.3%. However, the upper extremity prosthetics segment is estimated to be the fastest-growing segment with a CAGR of 4.8% during the forecast period.Based on design, the endoskeletal design segment was the highest revenue contributor to the market with a CAGR of 6.9% during the forecast period. However, the invasive segment is estimated to be the fastest-growing segment with a CAGR of 4.9% during the forecast period.
Based on end user, the prosthetics clinics segment was the highest revenue contributor to the market with a CAGR of 7.0% during the forecast period. However, the exoskeletal design segment is estimated to be the fastest-growing segment with a CAGR of 4.9% during the forecast period.
Based on region, North America garnered the largest revenue share in 2021 with a CAGR of 3.8% during the forecast period. However, the Asia-Pacific is estimated to be the fastest-growing segment with a CAGR of 5.9% during the forecast period.
Companies Mentioned
- Aesthetic Prosthetics Inc.
- Össur
- Blatchford Limited
- Integra LifeSciences Holdings
- Steeper Group
- Ottobock SE & Co. KGaA (suit X)
- Stryker Corporation
- B. Braun Melsungen AG
- Aether Biomedical
- Mobius Bionics LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 220 |
| Published | January 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1604.69 million |
| Forecasted Market Value ( USD | $ 2484.12 million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
