Frequently asked questions
The global limb prosthetics market was valued at USD 1754.8 Million in 2022.
The limb prosthetics market is predicted to grow at a CAGR of 5.8% between 2023 and 2030, reaching USD 2754.9 Million in 2030.
Upper limb prosthetics are the leading type of limb prosthetic segment, holding over 58% share in value in 2022.
The myoelectric prosthetics segment governs the global demand for limb prosthetics, holding a massive share of over 40% in 2022.
The transradial segment will post the highest CAGR over the projection period.
North America is fueling the robust growth of the limb prosthetics industry, with over one-third of its share in 2022.
The top players include Fillauer Companies Inc (U.S.), Hanger Inc (U.S.), Össur (Iceland), Blatchford Limited (U.K.), Ottobock (Germany), WillowWood Global LLC (U.S.), Steeper Inc (U.K), Uniprox (Bauerfeind) (Germany), Ortho Europe (U.K.), and Others.
Advancements in technology and the increasing prevalence of chronic diseases and accidents are the major market drivers of the limb prosthetics industry.
High costs and regulatory challenges are the major market restraints of the limb prosthetics industry.
The development of smart prosthetics and the expansion of prosthetic services in emerging markets are the major market opportunities of the limb prosthetics industry.