The global prosthetic liners market size is expected to reach USD 369.81 million by 2026, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.1% during the forecast period. Rising prevalence of osteoarthritis, orthopedic injuries and other extremities that require prosthetics is expected to drive the product demand.
In addition, a paradigm shift toward cost-effective and durable materials used in prosthetic procedures is anticipated to fuel the market growth. Rise in road traffic accidents and sports injuries can be attributed to the growing demand for prosthetic procedures. This factor is projected to drive the demand for prosthetic liners over the forecast period.
Strategic initiatives such as technologically advanced product launch, mergers & acquisitions, and collaborative agreements are adopted by the market participants to gain greater market share. For instance, in July 2018, Blatchford announced the launch of Orion3 programming app for clinicians via Bluetooth for enabling faster and straight forward limb setup available on iOS. This innovative app provides reliable connectivity. Such initiatives are expected to boost the growth of the prosthetic liners market over the forecast period.
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Further key findings from the report suggest:
- Silicone material is the most preferred material for prosthetic liner manufacturing and hence accounted for the largest market share in terms of revenue in 2018
- Upper extremity led the prosthetic liners market in 2018, owing to rising application of the product as they offer rapid and painless recovery. It also helps regain normal functioning of the affected area within a short period. Major companies manufacturing this product are Zimmer Biomet Holdings Inc.; Blatchford Inc., and Össur
- Hospitals accounted for the largest revenue share in 2018 due to the availability of highly skilled professionals and an increasing number of orthopedic surgeries performed in these settings
- North America registered the dominant market share in 2018, due to the presence of a large number of industry players and supportive government initiatives
- Asia Pacific is expected to witness the fastest CAGR over the forecast period owing to increasing number of target population and awareness among prosthetists regarding the benefits of liners for better health outcomes
- Some of the key market players are Blathford Inc.; Fillauer LLC; Ottobock Healthcare GmbH; WilliowWood Company; and Zimmer Biomet