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The Business Research Company's Artificial Limbs Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, February 12, 2025 /EINPresswire.com/ -- Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
Ever wondered about the anticipated growth rate and performance of the artificial limbs market?
In recent years, the artificial limbs market size has seen remarkable growth and significant changes. From a valuation of $2.52 billion in 2024, the market is expected to reach $2.7 billion in 2025, reflecting a compound annual growth rate CAGR of 7.1%. This exceptional growth rate in the historical period can be attributed to increasing instances of limb amputations, enhanced healthcare facilities, improved access to prosthetic care, increased awareness and acceptance, government initiatives, substantial funding, and impressive advancements such as the integration of 3D printing and robotics.
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What makes the artificial limbs market poised to see significant growth?
Looking into the future, the artificial limbs market shows prospects of impressive growth. It is expected to expand to $3.5 billion in 2029, at a compound annual growth rate CAGR of 6.7%. The growth potent in the forecast period can be attributed to the rising prevalence of chronic diseases, broadening healthcare infrastructure, enhanced rehabilitation services, and increased awareness and acceptance. Continued adoption of 3D printing technology, the development of bionic limbs embedded with advanced sensors, advancements in robotic prosthetics, upscaling of user-friendly interfaces, and the burgeoning incorporation of wearable sensors are considered as standout trends that will shape the market's future.
Right now, what is majorly driving the artificial limbs market?
One key factor propelling the growth of the artificial limbs market is the surge in road accidents and traumas. Road accidents and traumas typically result in injuries and fatalities due to vehicular collisions and other road incidents impacting drivers and pedestrians. Distracted driving, speeding, poor road conditions, and inadequate safety measures are the principal causes of such traumas and accidents.
To pre-empt the long-term impacts of such incidents, artificial limbs offer substantial benefits by restoring mobility and functionality, thus enhancing the overall quality of life of victims. Prosthetic limbs allow individuals to regain the ability to walk, run, or use their hands, depending on the limb replaced. Recent statistics from the UK-based government organization, The Road Safety Charity, showed a 10% increase in road accident deaths to reach 1,766 in 2022, with 1,711 occurring in Britain and 55 in Northern Ireland. Hence, the rise in road accidents and traumas is driving the growth of the artificial limbs market.
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Who are the major industry players shaping the artificial limbs market?
Several key players operate in the artificial limbs market, each applying their strategies to ensure a significant market presence. These include Cadence Inc., Nabtesco Corporation, Otto Bock HealthCare GmbH, DJO Global Inc., Össur hf, Hanger Inc., Blatchford Group, Trulife Ltd., Steeper Group Ltd., Fillauer LLC, Orthomerica Products Inc., Cascade Orthopedic Supply LP, The Ohio Willow Wood Company, Spinal Technology Inc., College Park Industries Inc., Comprehensive Prosthetics & Orthotics USA, ALPS South LLC, Touch Bionics Inc., Streifeneder USA Inc., Ekso Bionics Holdings Inc., Freedom Innovations LLC, Proteor USA LLC, United Prosthetics Inc., Liberating Technologies Inc., Naked Prosthetics Inc., Kinetec USA Inc., Endolite North America Inc., Medicare Inc.
What key trends and advancements are influencing the artificial limbs market?
One recurrent trend is the industry's focus on developing innovative products, such as motor-powered knees. These advancements aim to enhance the functionality and adaptability of prosthetic limbs. Motor-powered knees use motors to control the bending and extending of the leg, thus imitating natural knee movements. For example, in February 2022, Össur hf, an Iceland-based equipment manufacturer, launched prosthetic knees for patients with limb differences or above-knee limb loss.
What is the regional perspective on the artificial limbs market potential?
From a regional perspective, North America emerged as the largest region in the artificial limbs market as of 2024. However, Asia-Pacific shows promising potential to be the fastest-growing region in the forecast period. Geographical segments covered include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
However, the artificial limbs market isn't a monolith, being segmented according to product, material, technology, end-user, and various sub-segments. Under product, subcategories include Upper Extremity, Lower Extremity, Liners, Sockets, and Other Products. Material-wise, the market takes into account Titanium, Plastics, and Other Materials. Technology segments span across Body Powered Or Cable Powered, Cosmetic Prosthetics, Myoelectric Or Electrically Powered, and Other Technologies. End-users predominantly consist of Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, Rehabilitation Centers, and Prosthetic Clinics.
Prosthetics and limb solutions from leading providers offer hope and enhanced lifestyle possibilities for countless people worldwide. Staying informed on these trends and upcoming prospects is crucial.
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