The global prosthetics and orthotics market size is expected to reach USD 8.48 billion by 2030, registering a CAGR of 4.4% from 2025 to 2030, according to a new report by Grand View Research, Inc. Rising occurrence of osteosarcoma, growing geriatric population, and increasing incidences of sports injuries are the key factors driving the market growth. For instance, in 2023, according to the American Cancer Society’s estimates, 3,970 new cases were diagnosed with primary cancer of the bones and joints.
Globally, increasing geriatric population is the major factor driving demand for prosthetics & orthotics. The elderly population frequently utilizes orthopedic solutions due to increased prevalence of osteoporosis and osteopenia. For instance, according to the World Health Organization (WHO), globally, people aged 60 years or above are expected to double by 2050, increasing from 1.0 billion in 2020 to 2.1 billion in 2050. Thus, the increasing geriatric population boosts demand for various orthopedic solutions.
Prominent players in the market are involved in various strategic initiatives, such as acquisitions, product launches, and collaborations, to gain a competitive edge in the market. For instance, in October 2023, Blatchford, a prosthetics manufacturer company, Tectus, an orthotic device that helps people with partial lower limb paralysis to walk more efficiently, comfortably, and naturally with increased safety. Furthermore, in March 2023, Fabtech Systems, a prosthetic and orthotic solutions provide, partnered with OPIE Software, a clinical practice management software provider, to offer its products to customers using the OPIE system.
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Prosthetics And Orthotics Market Report Highlights
By product type, the orthotics segment accounted for the largest revenue share of 60% in 2024 due to rising incidence of falls and increasing prevalence of paralysis.Prosthetics segmentin product type is expected to show substantial growth during the forecast period. Growing cases of diabetes-related amputations across the globe fuel the segment's growth.In 2024, North America dominated the overall market with a revenue share of 37.0% owing to presence of leading market players, advanced healthcare facilities, and growing incidence of orthopedic disordersRegional Insights
North America prosthetics and orthotics market dominated the global market with a revenue share of 37.0% in 2024. This growth can be attributed to well-established healthcare infrastructure, increasing R&D investments by companies, and favorable reimbursement policies. Moreover, the rising prevalence of osteosarcoma and increasing incidences of sports injuries are expected to drive market growth. Moreover, the focus of the U.S. healthcare system on the quality of care and value-based services has led to a favorable market environment for prosthetics & orthotics. For instance, in August 2023, LIMBER Prosthetics & Orthotics, Inc., a San Diego startup company, received an investment of USD 388 thousand to develop their prosthetics & orthotics products.
Key Prosthetics And Orthotics Company Insights
Key participants in the industry are focusing on developing innovative business growth strategies in the form of product portfolio expansions, partnerships & collaborations, mergers & acquisitions, and business footprint expansions.
List Of Key Players Prosthetics And Orthotics Market
OssurBlatchford LimitedFillauer LLCOttobockWillowWood Global LLC.Ultraflex Systems Inc.Steeper GroupBauerfeindAether BiomedicalMobius BionicsOrder a free sample PDF of the Prosthetics And Orthotics Market Intelligence Study, published by Grand View Research.
