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What Future CAGR is Anticipated for the Prosthetics & Orthotics Market Over the 2025–2034 Period?

There has been impressive growth in the prosthetics & orthotics market in the past few years. The market, valued at $8.39 billion in 2024, is projected to reach $8.87 billion in 2025, marking a compound annual growth rate (CAGR) of 5.7%. Various factors have contributed to this growth during the historic period, including an increase in disabilities and amputations, advancements in production processes and materials, a rising awareness and acceptance of prosthetics, the development of healthcare infrastructure, and growth in sports and rehabilitation sectors.

In the coming years, the prosthetics & orthotics market is anticipated to witness robust growth. The market is set to expand to $11.24 billion by 2029, registering a compound annual growth rate (CAGR) of 6.1%. This predicted growth during the forecasted period is driven by factors like tailor-made and patient-focused prosthetic solutions, the incorporation of artificial intelligence and robotics in prosthetics, sustainable and environmentally friendly prosthetic materials, growth in child-specific prosthetics and orthotics, and the rise in telehealth options for orthotic services. Key trends forecasted for this period include prosthetics controlled by neurology, the adherence to regulations related to safety and standards of prosthetic, sensory feedback-enabled smart prosthetics, designed-to-order prosthetic solutions for unique requirements, and transparency in the cost and insurance aspects of prosthetics.

What Industry-Specific Factors Are Fueling the Growth of the prosthetics & orthotics Market?

The rise in instances of sports-related injuries and road accidents are key drivers propelling the prosthetics and orthotics market. Road crashes, largely due to distracted driving and excessive speed, lead to a host of disabilities requiring the application of prosthetics and orthotics to recuperate and regain normality in daily life functions. For example, the National Highway Traffic Safety Administration, a US transportation safety agency, reported in April 2024 that distracted driving in 2022 resulted in the fatalities of 3,308 individuals and considerably injured an estimated 289,310 more in road accidents. Moreover, the main contributor to sports injuries is the continuous participation of athletes in a singular sport, increasing the chances of injuries. In addition, in 2022, as per the National Security Council, a nonprofit advocating for safety in the US, around 3.6 million individuals had to be treated in emergency rooms for injuries sustained through sports and recreational equipment. Hence, the growing number of sports injuries and road accidents is projected to amplify the demand for prosthetics and orthotics in the coming period.

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Who Are the Influential Players Fueling Innovation and Growth in the Prosthetics & Orthotics Market?

Major companies operating in the prosthetics & orthotics market include:

• Fillauer LLC_x000D_

• Bauerfeind AG_x000D_

• Otto Bock Healthcare GmbH_x000D_

• Zimmer Biomet Holdings Inc._x000D_

• Blatchford Limited_x000D_

What Impact Are Industry Trends Having on the Prosthetics & Orthotics Market’s Future Prospects?

The rise of technology is a burgeoning trend in the prosthetics and orthotics field. Firms operating in the prosthetics and orthotics market aim to incorporate sophisticated technology into their products to bolster their market standing. They integrate emerging technologies such as automation, AI, microprocessors, neuromuscular signal technology, and sensory control into their product and service offers. This enhances the smoothness and natural motion of their prosthetics and orthotics. For example, in February 2022, Iceland’s Ossur, an orthotics and prosthetics firm, introduced POWER KNEE. This is the first actively powered microprocessor prosthetic knee aimed at individuals with limb differences or above-knee amputations. The POWER KNEE creates movement by providing powered assistance and perception of whether the wearer is sitting, standing, or walking on varying terrains and slopes.

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Which Growth-Oriented Segments of the Prosthetics & Orthotics Market Are Leading the Industry’s Development?

The prosthetics & orthotics market covered in this report is segmented –

1) By Type: Prosthetics, Orthotics

2) By Category: Upper limb, Lower limb, Spinal

3) By Technology: Conventional, Electric-Powered, Hybrid Orthopedic Prosthetics

4) By Application: Hospitals, Clinics, Rehabilitation Centers, Other Applications

Subsegments:

1) By Prosthetics: Lower Limb Prosthetics, Upper Limb Prosthetics, Cosmetic Prosthetics, Hybrid Prosthetics, Pediatric Prosthetics

2) By Orthotics: Ankle-Foot Orthoses (AFO), Knee-Brace Orthoses, Spinal Orthoses, Wrist-Hand Orthoses (WHO), Custom Orthotics

What Regions Are Leading the Growth Trajectory of the Prosthetics & Orthotics Market?

North America was the largest region in the prosthetics orthotics market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the prosthetics orthotics market share during the forecast period. The regions covered in the prosthetics & orthotics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Are the Defining Aspects of the Prosthetics & Orthotics Market Landscape?

Prosthetics & orthotics refer to artificial prosthetics and orthotics medical devices used to support deformity parts of the human body. The purpose of prosthetics and orthotics devices is to fit comfortably and allow people with limb amputations or physical impairments of their limbs or spines to achieve functional ability.

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