Prosthetic Foot Market By Type (Mechanical Foot, Microprocessor Foot) , By Age Group (Juveniles, Adults) : Global Opportunity Analysis and Industry Forecast, 2024-2033

Prosthetic Foot Market By Type (Mechanical Foot, Microprocessor Foot) , By Age Group (Juveniles, Adults) : Global Opportunity Analysis and Industry Forecast, 2024-2033

The prosthetic foot market was valued at $1.1 billion in 2023, and is projected to reach $2.1 billion by 2033, growing at a CAGR of 6.9% from 2024 to 2033.
Prosthetic foot, or prosthesis, is an advanced medical device that is designed to provide individuals with leg amputations the ability to walk, run, and perform daily activities. Prosthetic feet are engineered to mimic the natural movement of the human foot, providing support and allowing for natural and efficient walking. Lightweight and durable materials such as carbon fiber, plastics, and metal alloys are used in the fabrication of prostheses to ensure both strength and flexibility.
The growth of global prosthetic foot market is majorly driven by increase in cases of accidents causing traumatic injuries and alarming rise in prevalence of diabetes and peripheral vascular diseases that lead to amputations. According to a study published in 2020 in ScienceDirect—the world's leading source for scientific, technical, and medical research—approximately 30,000 to 40,000 civilian injury-related amputations are performed every year in the U.S. Around 59% of the traumatic amputations most commonly involve the lower limb as compared with the upper limb, which is 41%. Furthermore, as per the National Diabetes Statistics Report, around 108,000 adults had lower extremity amputations relating to diabetes in 2014. The market growth is further propelled by surge in geriatric population. This is attributed to the fact that as the global population ages, the number of elderly individuals requiring prosthetic limbs due to age-related conditions, accidents, or diseases is increasing. As per the World Health Organization, the number of people aged 60 years and older was 1 billion in 2019. This number is estimated to increase to 1.4 billion by 2030 and 2.1 billion by 2050, which is likely to significantly contribute toward the market growth. However, high cost associated with prosthetic foot and lack of acceptance act as the key deterrent factors of the market. Moreover, lack of appropriate health facilities to meet population needs in most countries and limited access restrain the market growth. On the contrary, increase in government funding and support for the development and distribution of prosthetic foot is expected to offer remunerative opportunities for the expansion of the market during the forecast period. For instance, the United States Department of Veterans Affairs (VA) initiatives provide extensive support to veterans who have lost limbs through its Prosthetic and Sensory Aids Service. VA allocates substantial funding for the provision of prosthetic devices, including prosthetic feet, to eligible veterans. Furthermore, technological advancements in prosthetic foot devices such as active power, haptic feedback, and machine learning for prosthetic control are expected to open new avenues for the expansion of the global market during the forecast period.
The prosthetic foot market segmented into by type, age group, and region. By type, the market is divided into mechanical foot and microprocessor foot. Depending on age group, it is segregated into juveniles and adults. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

By type, the mechanical foot segment dominated the market, in terms of share, in 2023.
Depending on age group, the adults segment was the major shareholder in 2023, and is expected to register fastest growth by 2033.
Region wise, the market in North America is anticipated to witness notable growth during the forecast period.

Competition Analysis

Competitive analysis and profiles of the major players in the global Prosthetic Foot Market include These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to gain maximum share and sustain the intense competition in the global market.

Key Market Segments

By Type

Mechanical Foot
Microprocessor Foot

By Age Group

Juveniles
Adults

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Otto Bock Healthcare GmbH
Smith and Nephew plc.
WillowWood Global LLC
Zimmer Biomet Holdings, Inc.
Ossur Corporate
Streifeneder KG
Blatchford Group
Fillauer LLC
Ultraflex Systems
Touch Bionics, Inc