Market Size of Prosthetic Liners Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Prosthetic Liners Market Analysis
The prosthetic liners market is expected to register a CAGR of 4.5% over the forecast period.
The COVID-19 pandemic significantly impacted the prosthetic liners market during the initial phases, primarily due to a reduction in the number of accidents and collisions during the pandemic period. Also, the pandemic disrupted the supply chain, affecting the availability of raw materials for prosthetic limb manufacturers to produce and distribute prosthetic liners. Furthermore, as per the article published in September 2021 by BMC journal, it was estimated that the traffic volume around the world dropped during the pandemic, which was associated with a significant reduction in the number of road traffic collisions in the world. Such a reduction in the number of accidents substantially affected the growth of the prosthetic liners market during the COVID-19 pandemic. However, as the restrictions are eased all over the world, the number of accidents and collisions increased, which is expected to get the market back on track over the forecast period.
The rising number of road accidents and government initiatives related to the product are expected to aid the market growth. For instance, as per the WHO June 2022 update, road accidents are the leading cause of injuries for the population aged 5-29 years. Between 20-50 million people suffer from non-fatal injuries, with many incurring a disability because of their injury. Developing countries have a high rate of traffic injuries, with a majority of road accidents occurring in low- and middle-income countries. These accidents may lead to permanent physical injuries/disabilities. According to the severity of injuries, there is likely to be a chance for amputation in some cases, which requires prosthetic liners for improving the quality of life of the patients, thereby boosting the market growth over the forecast period.
Furthermore, as per the September 2022 report from Planning and Statistics Authority, Qatar, the number of road accidents in September 2022 was approximately 803, representing a 31.6% rise from 2020. Moreover, as per the ISTAT 2021 report, 151,875 accidents were reported in Italy in 2021, whereas 204,728 were injured in 2021. Hence, such a high number of road accidents is likely to increase the demand for prosthetic liners thereby boosting the market growth over the forecast period. The recent product launches by the market players are also expected to have a significant impact on market growth. For instance, in January 2021, ALPS launched an innovative and skin-friendly silicone prosthetic liner for lower limb amputation.
Hence, due to the rise in the number of road accidents and the increase in government initiatives related to the prosthetic liners, the studied market is anticipated to witness growth over the forecast period. However, the risks associated with prosthetic liners are expected to restrict the growth of the market over the forecast period.
