The global lower limb prosthetics market is anticipated to grow at a considerable CAGR of 5.2% during the forecast period (2023-2030). The surge in road accidents globally is set to contribute to the demand for lower limb prosthetics. According to the National Safety Council (NSC), in 2022 exercise equipment accounted for an estimated 445,642 injuries, the most in any sports and recreation category. Further, the rising occurrence of conditions such as osteosarcoma and an increasing rate of sports injuries are factors projected to boost market expansion.
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According to the Arthroscopy, Sports Medicine, and Rehabilitation, structural knee injuries occurred in 21% of players in this study with an overall rate of 5.42 injuries per 1,000 game exposures. Stratified by age, structural knee injury rate was greatest in players less than 20 years old (3.23/1000 GE) followed by those less than 30 years old (3.11/1000 GE), 25 to 29 years (2.97/1000 GE), and 20 to 24 years (2.26/100 GE). Knee injury by minutes per game, the rate was greatest in those playing more than 30 minutes (3.86/1000 GE), followed by 20.0 to 29.9 minutes (3.03/1000 GE), and 10.0 to 19.9 minutes (1.82/1000 GE).
As a result of the rising government investments in prosthetics research, the number of companies focusing on the development of lower limb prosthetics has increased significantly over the last few years. As a result of these factors, major players in this market are making significant investments in R&D, resulting in a strong pipeline of products based on various approaches to lower limb prosthetics. Further, the rising number of FDA approvals are also contributed to propel the adoption of lower limb prosthetics. In August 2023, BionicM, a Japanese medical device startup, a received US Food and Drug Administration (FDA) 510(k) exemption registration for Bio Leg; its robotic prosthetic knee. This registration marked a significant milestone in the company's commitment to deliver its robotic prosthetic knee to the US market in 2024 with Japanese-proven technologies.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Technology
o By Type
o By End-user
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- including Blatchford Inc., Bauerfeind AG, Otto Bock HealthCare LP, WillowWood Global LLC., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Lower Limb Prosthetics Market Report Segment
By Technology
- Electric Powered Lower Extremity Prosthetics
- Conventional Lower Extremity Prosthetics
- Hybrid Lower Extremity Prosthetics
By Type
- Prosthetics Leg
- Prosthetics Foot
- Prosthetics Knee
- Prosthetics Hip
- Prosthetics Ankle
By End-user
- Hospitals
- Clinics
- Others (Research Institute)
A full report of Lower Limb Prosthetics Market available @ https://www.omrglobal.com/industry-reports/lower-limb-prosthetics-market
Lower Limb Prosthetics Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· Aesthetic prosthetics Inc.
· Aether Biomedical sp. z o.o.
· College Park Industries
· Deka Research and Development Corp.
· DePuy Synthes (Johnson & Johnson MedTech)
· Enovis Inc.
· Fillauer LLC (Fillauer Companies, Inc.)
· Hanger, Inc.
· Naked Prosthetics
· Ortho Europe Ltd.
· Össur Group
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