Global Lower Limb Prosthetics Market 2023-2030

Global Lower Limb Prosthetics Market 2023-2030

Global Limb Lower Prosthetics Market Size, Share & Trends Analysis Report by Technology (Electric Powered Lower Extremity Prosthetics, Conventional Lower Extremity Prosthetics, and Hybrid Lower Extremity Prosthetics), by Type (Prosthetics Leg, Prosthetics Foot, Prosthetics Knee, Prosthetics Hip, and Prosthetics Ankle), by End-Use (Hospitals, Clinics, and Others), Forecast Period (2023-2030)

The global lower limb prosthetics market is anticipated to grow at a CAGR of 5.2% during the forecast period (2023-2030). Significant factors contributing to the limb lower prosthetics market include robust healthcare infrastructure, increasing investment in R&D of the limb lower prosthetics, and increasing number of trauma and accident cases. Road accidents lead to fractures of various bones, including those in the extremities such as the legs, knee, and foot. According to the national statistics provided by the UK government, in 2022, 29,742 people were killed or seriously injured (KSI) casualties, 1,711 fatalities cases were registered and 135,480 were casualties of all severities. As a result, the number of surgical procedures is increasing in the UK.

Segmental Outlook

The global lower limb prosthetics market is segmented on the by technology, type, and end-use. Based on the technology, the market is sub-segmented into electric powered lower extremity prosthetics, conventional lower extremity prosthetics, and hybrid lower extremity prosthetics. Based on the type, the market is sub-segmented into prosthetics leg, prosthetics foot, prosthetics knee, prosthetics hip, and prosthetics ankle. Further, based on the end-use, the market is sub-segmented into hospitals, clinics, and others. Others includes Research Institute. Among the end-use, the hospitals sub-segment is anticipated to hold a considerable share of the market, owing to the affordability, accessibility, and improved function.

Prosthetics Hip Sub-Segment is Anticipated to Hold a Considerable Share of the Global Lower Limb Prosthetics Market

Among the types, prosthetics hip sub-segments expected to grow over the forecast period. The segment is driven by the increasing prevalence of arthritis among the population and technological advancements in prosthetic hip surgeries. According to the Centers for Disease Control and Prevention, during 2019-2021, about 1 in 5 US adults (21.2%) or about 53.2 million people had doctor-diagnosed arthritis. Arthritis was more common among women (20.9%) compared to men (16.3%). Thus, the increasing incidence of arthritis is expected to drive the demand for prosthetics hip.

Regional Outlook

The global lower limb prosthetics market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America held considerable share in the global market. The growing demand for lower limb prosthetics, increasing geriatric population, and rising healthcare expenditure contributing to the regional market.

Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Lower Limb Prosthetics Market

Among all regions, the Asia-Pacific region is anticipated to grow at a significant CAGR over the forecast period. The Asia-Pacific region is experiencing a rise in the prevalence of chronic diseases such as diabetes, driven by factors such as population growth, aging demographics, and the growing numbers of severe injuries. China dominates the Asia-Pacific lower limb prosthetics market followed by India, Japan, South Korea, and the rest of the Asia-Pacific economies. The lower limb prosthetics market in China is experiencing growth owing to the increasing adoption of lower limb prosthetics and increasing prevalence of chronic disorders, such as diabetes. According to the World Health Organization, China has the highest number of diabetic patients globally, with nearly 116 million active cases in 2019, and is expected to increase to 150 million by 2040. The estimated diabetes prevalence rate in China in 2009 was 3.9% and is projected to increase to 5.4% by 2030. The prevalence of diabetes in Chinese adults aged 20-79 years is projected to increase from 8.2% to 9.7% during 2020-2030.

Market Players Outlook

The major companies serving the lower limb prosthetics market include Blatchford Inc., Bauerfeind AG, Otto Bock HealthCare LP, WillowWood Global LLC., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2021, Boston Orthotics & Prosthetics partnered with the Central Ohio Orthotic & Prosthetic Center (COOP) to provide pediatric orthotic and prosthetic services for patients and families in Central Ohio, including those of Nationwide Children’s Hospital.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global lower limb prosthetics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.