Prosthetic Composites Market Analysis | 2024-2030

“The Prosthetic Composites Market size was valued at US$ 273 million in 2023 and is likely to grow at a healthy CAGR of 4.8% in the long run to reach US$ 384 million in 2030”.

Market Dynamics

Introduction

Prosthetics are nothing short of a miracle for millions of people with congenital conditions, liabilities, and injuries. Prosthetics is the branch of medicine that treats the damage to the skeletal system, ligaments, and muscles. It comprises prosthetics (devices that substitute for a limb or joint) and orthotics (lower back support and knee braces). Since the first use of artificial legs, the orthopedics market has come a long way. The biggest technological leap occurred in the late 1980s with the advent of composite materials in producing orthopedic devices.

This industry highly relies on high-performing composites, as they offer the best chance to recreate the diverse structures of our bones and limbs so that prosthetics can perform just as well as the real deal. Prosthetic devices from composite materials deliver excellent lightweight, durable, and corrosion-resistant features. Owing to these advantages, composite materials started gaining traction in sporting events such as the Paralympic and Olympics. However, the high cost of these materials is still acting as a bottleneck towards greater adoption among the user base.

Recent Developments

Other than a large number of M&A activities and product development, the market has consistently moved forward over the past few years.

• Fillauer partnered with Protolabs Network: Fillauer Composites manufactures prosthetic feet using carbon fiber and fiberglass.  Fillauer partnered with Protolabs Network to reduce the cost of production and open up more time for their engineers to focus on perfecting the designs.
• Cevotec’s Patch2Patient Project: The base technologies for establishing a digital, flexible, and automated value chain to produce personalized composite medical products, such as prosthetics and orthotics, have been developed in the Patch2Patient project coordinated by Cevotec in Germany.
• Allard's new Dynamic Response Foot - Meracus®: Meracus® sets a new standard in prosthetic design, crafted from 100% composite materials. It is a prosthetic foot free from metal joints and extraneous components. The pure composite design, combined with a rocker sole, ensures a smooth, natural transition from heel strike to toe-off.

Segments Analysis

By Product Type

“Lower limb prosthetics are expected to remain the dominant demand-generating application in the market by 2030”.

• The market is segmented into orthotics, lower limb prosthetics, and others.
• Key factors propelling growth: High cases of lower limb amputations, improving healthcare spending across the globe, and higher adoption of composite materials in artificial leg manufacturing.
• According to the World Health Organization and other groups monitoring amputation and limb loss, 60 to 100 million people worldwide need a prosthetic limb. This population is expected to double by 2050, driven primarily by the growth in diabetes and vascular disease. Depending on the country and age group, >80% of those needing prostheses involve lower limbs, yet only 5% to 15% of amputees have access to prosthetics.

By Material Type

“Carbon fiber composites are anticipated to remain the fastest-growing fiber type in the market during the forecast period”.

• The market is segmented into nylon composites, cotton composites, carbon fiber composites, and others.
• There has been an incessant increase in the adoption of carbon fiber composites in lower limb prosthetics in the wake of greater performance including excellent strength-to-weight ratio and corrosion resistance over their counterparts.
• Carbon fiber is used widely across the industry because it is malleable enough to create the unique, tailor-made, and complex structures needed for high-performance prosthetics.
• Carbon fiber composites are also ideal for producing parts with compound curves and thin walls. Even the most complex prosthetics are made possible with carbon fiber.

By Resin Type

“Epoxy composites are expected to mark exceptional growth in the market during the forecast period”.

• The market is segmented into acrylic composites, vinyl ester composites, epoxy composites, and others.
• Epoxy is highly compatible with carbon fiber, which is rapidly being adopted for composites in prosthetic applications.
• High specific strength: Carbon/epoxy composite most closely resembles native bone in absolute strength, modulus, and fracture toughness.
• Ideal weight distribution: The specific strength of the carbon/epoxy composite is so high that it is possible to produce a prosthesis that has the same strength as a natural leg, but at the same time is up to 60% lighter.
• Hygiene: After curing and washing, epoxy resin does not irritate the human skin and is non-allergic. Accidental exposure of the skin to the prosthesis does not cause any harm.

Regional Analysis

“North America is expected to remain the largest market for prosthetic composites during 2024-2030”.

• North America has well-formulated healthcare policies regarding prosthetics & orthotics, huge healthcare expenditure, and higher adoption of advanced technology.
• In terms of countries, the USA is expected to remain the largest market, globally.
• According to ‘Amputee Coalition Org.’, more than 5.6 million people are currently living with limb loss (2.3 million people) or limb difference (3.4 million people) in the USA. Lower limb amputations occur more frequently (~83%) as compared to upper limb amputations (~17%).

Key Players

The market is highly consolidated, with the presence of a handful number of players globally. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Prosthetic Composites Market:

• Alchemy Composites
• Blatchford Prosthetics
• Fillauer LLC
• Howard Prosthetics Inc.
• Össur
• Ottobock SE & Co. KGaA
• Steeper Inc.
• WillowWood Global LLC

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s orthopedic composites market realities and future market possibilities for the forecast period. 
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• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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