Prosthesis Equipment Market Size

Prosthesis Equipment Market size is likely to register more than 4.5% CAGR during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the increasing incidences of severe limb injury that may require amputation. Such injuries are very common in road accidents, sports mis happenings, and due to diseases, such as, diabetes. Moreover, various kind of cancers, such as, osteosarcoma, may require limb amputation. This is estimated to boost the market growth. As per the National Health Statistics Reports, every year, on an average, 8.6 sports-related injuries occur, out of which 64.9% injuries occur among individuals aged 5-24 years of age. Furthermore, the increasing research and development, along with increasing investment in prosthetics is estimated to boost the market growth. In fact, occupation in orthotists and prosthetists is growing massively. According to the Bureau of Labor Statistics, employment of orthotists and prosthetists will grow 17% from 2019 to 2029, which is expected to positively impact the market growth.