Orthopedic Prosthetic Market, Size, Share, Global Forecast 2024-2030, Industry Trends, Growth, Insight, Top Companies Analysis
Orthopedic Prosthetic Market Outlook
Global Orthopedic Prosthetics Market to reach US$ 3.31 Billion by 2028 according to Renub Research. Orthopedic prosthetics are more concerned with bones, artificial limbs, joints than any other body parts. This is because people need to add support to body parts weakened by injury, disease, or disorders of the nerves, muscles, or bones. In addition, orthopedic prosthetics involve using artificial limbs to enhance the lifestyle and function of people with loss of limb caused by disease or other medical conditions.
Lower limb prosthetics stabilize standing, walking, running, jumping, shock absorption, and other activities. Upper limb prosthetics also include artificial limbs used in grasping and reaching and for specific occupational challenges such as painting, hammering, or weight lifting and activities of daily living such as eating, writing, and dressing. The global Orthopedic Prosthetics Market is expected to grow at a CAGR of 6.55% during the forecast period 2023-2028.
Electric Prostheses are the Future
Electric prostheses, also known as myoelectric prostheses, are controlled using electric signals created by the body’s muscles. The electric-powered prosthetics use the user’s existing muscles in the residual limb to control the functions of the prosthetic device itself. For instance, in June 2020, Unlimited Tomorrow Inc., a medical device company manufacturing accessible prosthetic limbs, announced the launch of TrueLimb. This next-generation prosthetic arm is available through an utterly remote process that amputees can initiate online, broadening access to customized devices like this for the first time. Hence, such innovations and development in electric prostheses are expected to fuel market growth.
Worldwide Orthopedic Prosthetics Market was US$ 2.26 Billion in 2022
In recent years, technical innovations have combined to make artificial limbs much more comfortable, efficient, and lifelike than earlier versions. However, future innovations will likely depend on the interaction between three powerful forces amputee demands, advances in surgery and engineering, and healthcare funding sufficient to sustain the development and application of technological solutions.
Traffic accidents often lead to severe injuries and are expected to support the demand for electric prostheses. Hence, these have become an excellent option for a natural-looking prosthesis that utilizes the existing nerves for practical use. But unfortunately, an alarming rise in road accidents is a leading factor in driving amputation. In June 2021, around 1.3 million people died yearly from road traffic crashes, according to the WHO.
Regional Analysis
In 2021, North America was the leading market. This growth can be attributed to favorable reimbursement policies, well-established healthcare infrastructure, and increasing R&D investments by companies. The prompt and well-established healthcare services and infrastructure in the Asian region contribute to the regional Orthopedic Prosthesis Devices market growth. In addition, the Asia Pacific region is driven by the rise in road accidents, an increasing number of diabetes-related amputations, and supportive government initiatives. According to Asian Diabetes Prevention Initiative, 60% of the diabetic population currently lives in Asia. China and India will have more than half a million people with diabetes by 2030.
Key Market Players
The Orthopedic Prosthetics industry consists of numerous global and local players. Global prosthetics and orthotics players are Zimmer Biomet, Stryker Corporation, Hanger Inc., Össur, and Ottobock Healthcare, Smith & Nephew Plc, Johnson & Johnson and Globus Medical Inc.
 For instance, in Nov 2021, Otto bock acquired suitX, specializing in the research and development of medical exoskeletons and occupational.
 In Sept 2020, Otto Bock Company launched two new products in the Taleo foot portfolio: Taleo Harmony and Taleo Vertical Shock (VS).
Renub Research report titled “Global Orthopedic Prosthetic Market by Products (Upper Extremity Prosthetics, Lower Extremity Prosthetics, Prosthetic Liners, Others), By Technology (Electric Powered Technology, Hybrid Technology, Conventional Technology), Regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Company (Zimmer Biomet, Stryker Corporation, Hanger Inc., Össur, Ottobock Healthcare, Smith & Nephew Plc, Johnson & Johnson & Globus Medical Inc.)” provides an all-encompassing analysis on the global orthopedic prosthetic industry.
Products - Orthopedic Prosthetic Market
1. Upper Extremity Prosthetics
2. Lower Extremity Prosthetics
3. Prosthetic Liners
4. Others
Technology - Global Orthopedic Prosthetic Market
1. Electric Powered Technology
2. Hybrid Technology
3. Conventional Technology
Regions - Global Orthopedic Prosthetic Market
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa
Company Insights - Global Orthopedic Prosthetic Market
1. Zimmer Biomet
2. Stryker Corporation
3. Hanger Inc.
4. Össur
5. Ottobock Healthcare
6. Smith & Nephew Plc
7. Johnson & Johnson
8. Globus Medical Inc.
Report Details:
| Report Features | Details |
| Base Year | 2022 |
| Historical Period | 2018 - 2022 |
| Forecast Period | 2023 - 2028 |
| Market | US$ Billion |
| Segment Covered | Products, Technology, End Users, and Regions |
| Region Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Companies Covered | Zimmer Biomet, Stryker Corporation, Hanger Inc., Össur, Ottobock Healthcare, Smith & Nephew Plc, Johnson & Johnson & Globus Medical Inc. |
| Customization Scope | 20% Free Customization |
| Post-Sale Analyst Support | 1 Year (52 Weeks) |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamic
4.1 Growth Drivers
4.2 Challenges
5. Global Orthopedic Prosthetic Market
6. Market Share - Global Orthopedic Prosthetic
6.1 Products
6.2 Technology
6.3 End Users
6.4 Regions
7. Product - Orthopedic Prosthetic Market
7.1 Upper Extremity Prosthetics
7.2 Lower Extremity Prosthetics
7.3 Prosthetic Liners
7.4 Others
8. Technology - Global Orthopedic Prosthetic Market
8.1 Electric Powered Technology
8.2 Hybrid Technology
8.3 Conventional Technology
9. End User - Global Orthopedic Prosthetic Market
9.1 Hospitals
9.2 Prosthetics Clinics
9.3 Rehabilitation Centre
9.4 Others
10. Region - Global Orthopedic Prosthetic Market
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 Latin America
10.5 Middle East & Africa
11. Company Insights - Global Orthopedic Prosthetic Market
11.1 Stryker Corp.
11.1.1 Overview
11.1.2 Recent Development
11.1.3 Revenue Analysis
11.2 Zimmer Biomet Holdings Inc.
11.2.1 Overview
11.2.2 Recent Development
11.2.3 Revenue Analysis
11.3 Hanger Inc.
11.3.1 Overview
11.3.2 Recent Development
11.3.3 Revenue Analysis
11.4 Össur
11.4.1 Overview
11.4.2 Recent Development
11.4.3 Revenue Analysis
11.5 Ottobock Healthcare
11.5.1 Overview
11.5.2 Recent Development
11.5.3 Revenue Analysis
11.6 Smith & Nephew Plc
11.6.1 Overview
11.6.2 Recent Development
11.6.3 Revenue Analysis
11.7 Johnson & Johnson
11.7.1 Overview
11.7.2 Recent Development
11.7.3 Revenue Analysis
11.8 Globus Medical Inc.
11.8.1 Overview
11.8.2 Recent Development
11.8.3 Revenue Analysis
List of Figures:
Figure-01: Global – Orthopedic Prosthetic Market (Million US$), 2018 – 2022
Figure-02: Global – Forecast for Orthopedic Prosthetic Market (Million US$), 2023 – 2028
Figure-03: Product – Upper Extremity Prosthetics Market (Million US$), 2018 – 2022
Figure-04: Product – Forecast for Upper Extremity Prosthetics Market (Million US$), 2023 – 2028
Figure-05: Product – Lower Extremity Prosthetics Market (Million US$), 2018 – 2022
Figure-06: Product – Forecast for Lower Extremity Prosthetics Market (Million US$), 2023 – 2028
Figure-07: Product – Prosthetic Liners Market (Million US$), 2018 – 2022
Figure-08: Product – Forecast for Prosthetic Liners Market (Million US$), 2023 – 2028
Figure-09: Product – Others Market (Million US$), 2018 – 2022
Figure-10: Product – Forecast for Others Market (Million US$), 2023 – 2028
Figure-11: Technology – Electric Powered Technology Market (Million US$), 2018 – 2022
Figure-12: Technology – Forecast for Electric Powered Technology Market (Million US$), 2023 – 2028
Figure-13: Technology – Hybrid Technology Market (Million US$), 2018 – 2022
Figure-14: Technology – Forecast for Hybrid Technology Market (Million US$), 2023 – 2028
Figure-15: Technology – Conventional Technology Market (Million US$), 2018 – 2022
Figure-16: Technology – Forecast for Conventional Technology Market (Million US$), 2023 – 2028
Figure-17: End User – Hospitals Market (Million US$), 2018 – 2022
Figure-18: End User – Forecast for Hospitals Market (Million US$), 2023 – 2028
Figure-19: End User – Prosthetics Clinics Market (Million US$), 2018 – 2022
Figure-20: End User – Forecast for Prosthetics Clinics Market (Million US$), 2023 – 2028
Figure-21: End User – Rehabilitation Centre Market (Million US$), 2018 – 2022
Figure-22: End User – Forecast for Rehabilitation Centre Market (Million US$), 2023 – 2028
Figure-23: End User – Others Market (Million US$), 2018 – 2022
Figure-24: End User – Forecast for Others Market (Million US$), 2023 – 2028
Figure-25: North America – Orthopedic Prosthetic Market (Million US$), 2018 – 2022
Figure-26: North America – Forecast for Orthopedic Prosthetic Market (Million US$), 2023 – 2028
Figure-27: Europe – Orthopedic Prosthetic Market (Million US$), 2018 – 2022
Figure-28: Europe – Forecast for Orthopedic Prosthetic Market (Million US$), 2023 – 2028
Figure-29: Asia Pacific – Orthopedic Prosthetic Market (Million US$), 2018 – 2022
Figure-30: Asia Pacific – Forecast for Orthopedic Prosthetic Market (Million US$), 2023 – 2028
Figure-31: Latin America – Orthopedic Prosthetic Market (Million US$), 2018 – 2022
Figure-32: Latin America – Forecast for Orthopedic Prosthetic Market (Million US$), 2023 – 2028
Figure-33: Middle East & Africa – Orthopedic Prosthetic Market (Million US$), 2018 – 2022
Figure-34: Middle East & Africa – Forecast for Orthopedic Prosthetic Market (Million US$), 2023 – 2028
Figure-35: Stryker Corp. – Global Revenue (Billion US$), 2018 – 2022
Figure-36: Stryker Corp. – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-37: Zimmer Biomet Holdings Inc. – Global Revenue (Billion US$), 2018 – 2022
Figure-38: Zimmer Biomet Holdings Inc. – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-39: Hanger Inc. – Global Revenue (Billion US$), 2018 – 2022
Figure-40: Hanger Inc. – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-41: Össur – Global Revenue (Million US$), 2018 – 2028
Figure-42: Össur – Forecast for Global Revenue (Million US$), 2023 – 2028
Figure-43: Ottobock Healthcare – Global Revenue (Billion US$), 2018 – 2022
Figure-44: Ottobock Healthcare – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-45: Smith & Nephew Plc – Global Revenue (Billion US$), 2018 – 2022
Figure-46: Smith & Nephew Plc – Forecast for Global Revenue (Billion US$), 2023 – 2028
Figure-47: Johnson & Johnson – Global Revenue (Billion US$), 2018 – 2022
Figure-48: Johnson & Johnson – Forecast for Global Revenue (Billion US$), 2017 – 2022
Figure-49: Globus Medical Inc. – Global Revenue (Million US$), 2018 – 2022
Figure-50: Globus Medical Inc. – Forecast for Global Revenue (Million US$), 2023 – 2028
List of Tables:
Table-01: Global – Orthopedic Prosthetic Market Share by Product (Percent), 2018 – 2022
Table-02: Global – Forecast for Orthopedic Prosthetic Market Share by Products (Percent), 2023 – 2028
Table-03: Global – Orthopedic Prosthetic Market Share by Technology (Percent), 2018 – 2022
Table-04: Global – Forecast for Orthopedic Prosthetic Market Share by Technology (Percent), 2023 – 2028
Table-05: Global – Orthopedic Prosthetic Market Share by End User (Percent), 2018 – 2022
Table-06: Global – Forecast for Orthopedic Prosthetic Market Share by End User (Percent), 2023 – 2028
Table-07: Global – Orthopedic Prosthetic Market Share by Region (Percent), 2018 – 2022
Table-08: Global – Forecast for Orthopedic Prosthetic Market Share by Region (Percent), 2023 – 2028
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