Us Prosthetic Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Prosthetic Market was valued at USD 11.6 Billion in 2022 and is projected to reach USD 22.8 Billion by 2030, growing at a CAGR of 9.1% from 2024 to 2030.
The U.S. prosthetic market is experiencing significant growth, driven by technological advancements and a rising number of amputations. In 2022, the U.S. limb prosthetics market was valued at approximately USD 738.5 million, with projections indicating a compound annual growth rate (CAGR) of 5.8% in the coming years. This surge is largely attributed to the increasing prevalence of conditions necessitating amputations, such as diabetes and vascular diseases, as well as traumatic injuries from accidents.
One notable advancement in the field is the development of brain-controlled prosthetic limbs. Researchers, including Hugh Herr from MIT's Biomechatronics Group, are pioneering prosthetics that interface directly with the user's nervous system, allowing for more natural and intuitive movements. These innovations not only enhance functionality but also significantly improve the quality of life for amputees.
Despite these technological strides, accessibility and affordability remain challenges. High costs associated with advanced prosthetic devices can be prohibitive for many patients, underscoring the need for more inclusive healthcare policies and insurance coverage to ensure broader access to these life-enhancing technologies.
In summary, the U.S. prosthetic market is poised for continued growth, fueled by technological innovations and an increasing demand for advanced prosthetic solutions. Addressing affordability and accessibility will be crucial in ensuring that these advancements benefit a wider population of individuals in need.
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Otto Bock
Ossur
Proteor
Fillauer
Ohio Willow Wood
Trulife
Blatchford
Streifeneder
College Park
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Prosthetic Market
Lower Limb Prosthetics
Upper Limb Prosthetics
Orthotic Devices
Hybrid Prosthetic Devices
Conventional Prosthetics
Advanced Prosthetics
Adults
Children
Geriatric Population
Hospitals and Clinics
Rehabilitation Centers
Home Care Settings
Specialty Care Facilities
Plastic Prosthetics
Metal Prosthetics
Composite Prosthetics
Silicone Prosthetics
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Prosthetic Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Prosthetic Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Prosthetic Market, By Type
6. Global Prosthetic Market, By Application
7. Global Prosthetic Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Prosthetic Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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