The orthopedic prosthetic market is a growing industry driven by an aging population and increasing incidence of orthopedic conditions such as osteoarthritis and osteoporosis. Technological advancements, such as 3D printing and smart prosthetics, are also driving growth in the market. However, the high cost of prosthetic devices and limited insurance coverage are major barriers to adoption. The market is also highly competitive, with a few dominant players and many small to medium-sized companies. The COVID-19 pandemic has had a mixed impact on the market, with increased demand for prosthetics in some areas but disrupted supply chains and reduced patient access to care in others. Overall, the orthopedic prosthetic market is expected to continue to grow in the coming years, driven by innovation and demographic trends.
Global Orthopedic Prosthetic Market is estimated to be valued at US$ 2,246.7 million in 2022 and is expected to exhibit a CAGR of 5.3% during the forecast period (2022-2030).
Market Leaders in the Orthopedic Prosthetic Industry:
1. Össur
Founded in 1971, Össur is an Icelandic company that specializes in developing and manufacturing non-invasive orthopedic and prosthetic solutions. The company's headquarters are located in Reykjavik, Iceland, and it operates in over 25 countries worldwide. Össur is a leading innovator in the field of prosthetics and orthotics, and its product range includes a variety of solutions for amputees, including prosthetic limbs, braces, and supports. In 2022, Össur launched a new prosthetic knee joint called the "X4" which incorporates advanced sensor technology and artificial intelligence to improve user control and stability.
2. Hanger Inc.
Hanger Inc. is an American company that was founded in 1861 and is headquartered in Austin, Texas. The company specializes in providing orthotic and prosthetic solutions, as well as rehabilitation services. Hanger operates in over 700 patient care clinics in the United States and has a presence in several other countries worldwide. In 2021, Hanger Inc. announced the launch of its "Stride" foot and ankle prosthetic system, which uses advanced materials and design to provide a more natural gait for amputees.
3. Ottobock
Ottobock is a German company that was founded in 1919 and is headquartered in Duderstadt, Germany. The company specializes in developing and manufacturing prosthetic and orthotic solutions for people with physical disabilities. Ottobock operates in over 50 countries worldwide and is recognized as a global leader in the field of prosthetics. In 2022, Ottobock announced the development of a new type of prosthetic limb called the "Brain-Computer Interface," which uses signals from the user's brain to control the movements of the prosthetic limb.
4. Blatchford Limited
Blatchford Limited is a British company that was founded in 1890 and is headquartered in Basingstoke, England. The company specializes in developing and manufacturing prosthetic and orthotic solutions, including advanced microprocessor-controlled prosthetic limbs. Blatchford operates in several countries worldwide and is known for its innovative and high-quality products. In 2021, Blatchford Limited launched a new prosthetic foot called the "Elan IC," which incorporates advanced microprocessor technology to provide a more natural and comfortable gait for users.
5. WillowWood Global LLC
WillowWood Global LLC is a US-based company that was founded in 1907. Its headquarters are located in Mount Sterling, Ohio. WillowWood specializes in the design and manufacture of prosthetic products for amputees. The company operates in multiple countries, including the United States, Canada, Mexico, Brazil, and the United Kingdom.
6. Fillauer LLC
Fillauer LLC is another US-based company that was founded in 1914. Its headquarters are located in Chattanooga, Tennessee. Fillauer develops and manufactures prosthetic products, including prosthetic feet, knees, and hands. The company operates in multiple countries, including the United States, Germany, and China.
7. Howard Orthopaedics Inc.
Howard Orthopaedics Inc. is a US-based company that was founded in 1985. Its headquarters are located in San Diego, California. Howard Orthopaedics specializes in the design and manufacture of prosthetic products, including prosthetic knees and feet. The company operates in multiple countries, including the United States, Canada, and the United Kingdom.
8. Aether Biomedical
Aether Biomedical is a Canadian company that was founded in 2016. Its headquarters are located in Toronto, Ontario. Aether Biomedical specializes in the design and manufacture of prosthetic products, including prosthetic hands and arms. The company operates in multiple countries, including Canada and the United States.
9. United Prosthetics
United Prosthetics is a US-based company that was founded in 1914. Its headquarters are located in Boston, Massachusetts. United Prosthetics specializes in the design and manufacture of prosthetic products, including prosthetic limbs and braces. The company operates in multiple countries, including the United States and Canada. In 2022, United Prosthetics announced the launch of a new line of prosthetic feet called the "Innovative Foot Collection," which uses advanced materials and design to provide improved comfort and performance.
10. Advanced Arm Dynamic
Advanced Arm Dynamic is a US-based company that was founded in 2013. Its headquarters are located in Portsmouth, New Hampshire. Advanced Arm Dynamic specializes in the design and manufacture of prosthetic arms. The company operates in multiple countries, including the United States and Canada.
11. TASKA Prosthetics
TASKA Prosthetics is a New Zealand-based company that was founded in 2016. Its headquarters are located in Auckland, New Zealand. TASKA Prosthetics specializes in the design and manufacture of prosthetic hands. The company operates in multiple countries, including New Zealand, Australia, and the United Kingdom. In 2022, TASKA Prosthetics announced the launch of a new prosthetic hand called the "TASKA Hand 2," which uses advanced sensor technology and artificial intelligence to provide improved grip strength and precision.
12. Steeper Inc.
Steeper Inc. is a UK-based company that was founded in 1917. Its headquarters are located in Leeds, England. Steeper Inc. specializes in the design and manufacture of prosthetic products, including prosthetic limbs and braces. The company operates in multiple countries, including the United Kingdom and the United States.
13. BioMetrics Prosthetic and Orthotic CT
BioMetrics Prosthetic and Orthotic CT is a US-based company that was founded in 2017. Its headquarters are located in Bridgeport, Connecticut. BioMetrics Prosthetic and Orthotic CT specializes in the design and manufacture of prosthetic products, including prosthetic limbs and braces. The company operates in the United States.
14. Trulife
Trulife is an Irish-based company that was founded in 1958. Its headquarters are located in Dublin, Ireland. Trulife specializes in the design and manufacture of prosthetic products, including prosthetic limbs and braces. The company operates in multiple countries, including the United States, Canada, and the United Kingdom. In 2022, Trulife announced the launch of a new prosthetic knee joint called the "Endurance," which uses advanced materials and design to provide improved durability and performance.
*Definition- Orthopedic prosthetics are artificial devices that replace or supplement the function of a missing or damaged body part, such as a limb or joint.
