Orthopedic Prosthesis Devices Market

• The leading Orthopedic Prosthesis Devices companies working in the Orthopedic Prosthesis Devices Market include B Braun Meslungen AG, BestMedical, MINZE HEALTH, Santron Meditronic., Potent Medical, Laborie, MEDKONSULT medical technology s.r.o., The Prometheus Group®, HCItalia srl, DeltaMed, MEDICA S.P.A, Aymed Medical Technology, EV.SERVICE ITALIA, tic Medizintechnik GmbH & Co. KG, Creo Medical Ltd, Stericom Ltd., Amecath Medical Technologies, Cook, Well Lead Medical Co., Ltd, and others.
• Data from the National Safety Council (2024), stated that in 2023, emergency departments treated 3.7 million people for injuries related to sports and recreational equipment.

Orthopedic Prosthesis Devices Market by Product Type (Upper Extremity Orthopedic Prosthesis Devices [Shoulder, Elbow, Hand & Wrist, and Fingers], and Lower Extremity Orthopedic Prosthesis Devices [Foot & Ankle, Knee, Hip, and Others]), Orthopedic Prosthesis Devices Market by Technology (Active [Body-Powered and Electric-Powered] and Passive), Orthopedic Prosthesis Devices Market by Customization (Prefabricated and Customized), Orthopedic Prosthesis Devices Market by Age Group (Adult and Pediatric), Orthopedic Prosthesis Devices Market by Distribution Channel (Hospitals & Clinics, Pharmacies, E-Commerce, and Others), Orthopedic Prosthesis Devices Market by Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a substantial CAGR forecast till 2030 owing to the increasing prevalence of lifestyle disorders and rising number of trauma cases across the globe.

The orthopedic prosthesis devices market was valued at USD 2.11 billion in 2023, growing at a CAGR of 5.88% during the forecast period from 2024 to 2030, to reach USD 2.96 billion by 2030. The orthopedic prosthesis devices market is experiencing significant growth due to the increasing prevalence of lifestyle disorders like diabetes, increasing instances of trauma cases resulting from road traffic accidents, and the rising number of sports-related injuries that are acting as major factors contributing to the overall growth of the orthopedic prosthesis devices market during the forecast period from 2024 to 2030.

Orthopedic Prosthesis Devices Market Dynamics:

According to data from the International Diabetes Federation (2022), in 2021, 537 million adults aged 20-79 were living with diabetes, equating to about 1 in 10 individuals. This number is expected to increase to 643 million by 2030 and reach 783 million by 2045. Notably, over 75% of adults with diabetes reside in low- and middle-income countries. Additionally, 541 million adults had Impaired Glucose Tolerance (IGT), putting them at elevated risk for developing type 2 diabetes. Orthopedic prosthesis devices play a crucial role in managing complications associated with diabetes, particularly in preventing and treating foot and limb complications. For individuals with diabetes who experience severe foot ulcers or infections, these devices can aid in limb preservation or, in more severe cases, support amputation procedures. Post-amputation, prosthetic limbs are essential for restoring mobility and improving the quality of life.

As per data from the World Health Organization factsheet (2023) on road traffic injuries, road traffic injuries are the leading cause of fatality in children and young adults in the age group of 5-29 years. The same factsheet further stated that near about 20-50 million people suffer from non-fatal injuries in road accidents resulting in a disability as a result of their injury globally each year. These incidents majorly result in bone fractures and dislocations. 

Data from the National Safety Council (2024), stated that in 2023, emergency departments treated 3.7 million people for injuries related to sports and recreational equipment. The activities that most often led to these injuries were exercise, cycling, and basketball. Furthermore, it stated that injuries from exercise and exercise equipment went up by 8% in 2023, with 482,886 injuries compared to 445,642 in 2022. The highest injury rate was among 15 to 24-year-olds.

Orthopedic prosthesis devices are essential in treating injuries from road traffic accidents and sports activities, especially when dealing with severe bone fractures and dislocations. These devices restore function and mobility by replacing or supporting damaged bone structures. In road traffic injuries, prostheses are used when bone damage is significant, while in sports injuries, they aid in the recovery and rehabilitation process, helping individuals regain normal function.

Hence, the interplay of all the above-mentioned factors are expected to drive the market for orthopedic prosthesis devices market during the given forecast period from 2024 to 2030.

However, the side effects associated with prolonged use of orthopedic prosthesis devices and fitting-related issues, along with with social stigma, and others may restrict the market growth.

Orthopedic Prosthesis Devices Market Segment Analysis:

Orthopedic Prosthesis Devices Market by Product Type (Upper Extremity Orthopedic Prosthesis Devices [Shoulder, Elbow, Hand & Wrist, and Fingers], and Lower Extremity Orthopedic Prosthesis Devices [Foot & Ankle, Knee, Hip, and Others]), Orthopedic Prosthesis Devices Market by Technology (Active [Body-Powered and Electric-Powered] and Passive), Orthopedic Prosthesis Devices Market by Customization (Prefabricated and Customized), Orthopedic Prosthesis Devices Market by Age Group (Adult and Pediatric), Orthopedic Prosthesis Devices Market by Distribution Channel (Hospitals & Clinics, Pharmacies, E-Commerce, and Others), Orthopedic Prosthesis Devices Market by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the orthopedic prosthesis devices market, the lower extremity orthopedic prosthesis devices category is expected to have a significant revenue share in the year 2023. This is due to the availability of various key features and advantages offered by lower extremity orthopedic prosthesis devices.

Lower extremity prostheses are custom-made, which is crucial for comfort and effective function. Advanced materials and technologies, such as 3D scanning and printing, allow for personalized fittings that accommodate the unique anatomy of each patient. These are designed to replicate the natural movement of the lower limb. Features such as articulated joints, shock absorption systems, and energy-storing components enhance mobility and mimic the natural gait, allowing users to walk, run, and engage in various physical activities.

Modern prostheses use high-strength, lightweight materials like carbon fiber, titanium, and advanced polymers. These materials provide durability while minimizing the overall weight of the prosthesis, which is essential for ease of movement and reducing fatigue. Many lower extremity prostheses include adjustable components to accommodate changes in the user's condition or activity level. These adjustments can be made to optimize alignment, improve comfort, and enhance performance

Therefore, the widespread uses of lower extremity orthopedic prosthesis devices category that enhance performance, solidify the impact on the growth of the overall orthopedic prosthesis devices market during the forecast period from 2024 to 2030.

North America is expected to dominate the overall orthopedic prosthesis devices market:

Among all the regions, North America Orthopedic Prosthesis Devices Market is estimated to hold a significant revenue share in the orthopedic prosthesis devices market. This can be attributed to several factors, including the rising incidence of joint replacements, advancements in prosthetic technologies, and ongoing regulatory approvals, which collectively contribute to the growth of the orthopedic prosthesis devices market in the North America region during the forecast period from 2024 to 2030.

According data from the American Academy of Orthopaedic Surgeons in 2024 stated that over 700,000 total knee replacement surgeries are performed each year in the US. In addition to this, recent updates provided by the Arthritis Society Canada (2022), stated that 1 million Canadians were affected by gout, which is the most common form of inflammatory arthritis. Gout predominantly impacts males more than females, with approximately 4% of men and 1% of women affected. Among the various joints that can be affected, the knee joint is the most commonly involved.

According to data from the American Academy of Orthopaedic Surgeons (2024), annually, over 300,000 individuals in the US experience a hip fracture, with the majority occurring in those aged 65 and older due to falls in the home or community. Orthopedic prosthesis devices play a crucial role in the management and recovery of conditions mentioned. For total knee replacements and prosthetic knee joints are used to replace damaged cartilage and bone, restoring function and reducing pain. In the case of gout, which often affects the knee joint, prosthetic devices can help manage severe joint damage and improve mobility when other treatments are insufficient. For hip fractures, prostheses such as hip replacements are used to repair or replace the fractured hip joint, facilitating quicker recovery and improved quality of life.

Various product developmental strategies such as clearances by regulatory authorities in the region play a major role in pushing forward the revenue shares of orthopedic prosthesis devices in the region. For example, in July 2024, Orthofix Medical secured 510(k) clearance from the US Food and Drug Administration (FDA) for its Fitbone Transport and Lengthening System.

Therefore, the interplay of all the factors mentioned above would provide a conducive growth environment for the North America region in the orthopedic prosthesis devices market during the forecast period from 2024 to 2030.

Orthopedic Prosthesis Devices companies:

Some of the key Orthopedic Prosthesis Devices companies operating in the orthopedic prosthesis devices market include Ottobock, Boston Orthotics & Prosthetics, LeTourneau Prosthetics and Orthotics, Advanced Arm Dynamics, TASKA Prosthetics, NAKED PROSTHETICS, Steeper Inc., Össur, medi GmbH & Co. KG, Orthotic & Prosthetic Lab, Inc., BioMetrics Prosthetic and Orthotic CT, Trulife, INTEGRUM, Mobius Bionics, Open Bionics, Blatchford Limited, inMotion Prosthetics and Orthotics, SYNERGY PROSTHETICS, Motorica LLC, WillowWood Global LLC, and others.

Recent Developmental Activities in the Orthopedic Prosthesis Devices Market:

• In March 2024, Proteor launched the SYNSYS full-leg system, which featured hydraulic kinetic coupling and hip-knee-ankle triple flexion for improved movement.
• In December 2022, NYU Langone Health completed its first set of surgeries using the only US Food and Drug Administration (FDA), approved implantable prosthetic for people with limb loss available in the greater New York City area. The procedure, known as osseointegration, sought to improve the quality of life for people with limb loss by enhancing the connection between limb and prosthesis.
• In January 2022, Copper3D and Prótesis 3D joined forces to produce anti-microbial copper orthopedic implants. Through this agreement, they produced over 200 prosthetic devices to assist disabled children from low-income households. 

Key takeaways from the Orthopedic Prosthesis Devices Market Report:

• Orthopedic Prosthesis Devices Market size analysis for current orthopedic prosthesis devices market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key Orthopedic Prosthesis Devices product/services developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key Orthopedic Prosthesis Devices companies dominating the orthopedic prosthesis devices market
• Various opportunities available for other competitors in the orthopedic prosthesis devices market space
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current orthopedic prosthesis devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for orthopedic prosthesis devices market growth in the coming future?

Target audience who can be benefited from this Orthopedic Prosthesis devices market report study

• Orthopedic prosthesis device providers
• Research organizations and consulting companies 
• Orthopedic prosthesis devices related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in orthopedic prosthesis devices 
• Various end-users who want to know more about the orthopedic prosthesis devices market and the latest developments in the orthopedic prosthesis devices market

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