Frequently asked questions:
The global orthopedic prosthetic devices market was valued at USD 2.3 Billion in 2022.
The orthopedic prosthetic devices market is expected to grow at a CAGR of 5.95% between 2023 and 2030, reaching USD 3.4 Billion in 2030.
During the forecast period, electric powered is expected to lead the segment.
The Conventional segment contributes the rest to the demand for orthopedic prosthetic devices
Lower extremity prosthetics are expected to be the highest CAGR during the forecast period.
North America dominated the global orthopedic prosthetics market in 2022, accounting for 35% of the total value.
The top players include Össur, Hanger Inc, Ottobock, Disney, Blatchford Limited, and WillowWood Global LLC. Other major players include Howard Orthopaedics Inc., Advanced Arm Dynamic, Steeper Inc, and TASKA Prosthetics.
The Raising Awareness of Sports Injuries, an Aging Population, and an Increase in the Number of Traffic Accidents are the major market drivers.
Devices are costly, and the regulatory framework is stringent are the major market restraints.
Technological Advances and an Increased Interest in Smart Prosthetic Devices are the major opportunities in the orthopedic prosthetic devices industry.