Global Orthopedic Prosthetics Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe. Orthopedic prosthetics is a use of artificial limbs to develop the function and lifestyle of persons with limb loss with the help of creativity in the design and fabrication of external braces as a part of treatment.
The factors that are playing a major role in the growth of Orthopedic Prosthetics Industry are rising popularity of customized orthopedic prosthetics, developments in production and designing technologies, and excellent resistance to wear and tear. On the other hand, high costs of products and lack of favorable reimbursement policies are the factors restraining overall market growth. Orthopedic Prosthetics Market is segmented based on product types, technology, end users, and region. Product types such as Modular Components, Upper Extremity Prosthetics, Sockets, Lower Extremity Prosthetics, and Liners classify the market. Lower Extremity Prosthetics segment accounts for the largest market share of Orthopedic Prosthetics Industry and is estimated to continue its dominance in the years to come. On the other hand, Upper Extremity Prosthetics is another dominant segment with a significant overall market share in terms of revenue.
Technology such as Hybrid Orthopedic Prosthetics, Conventional, Electric Powered, and others classify Orthopedic Prosthetics Market. The electrically powered segment accounts for the largest market share of the industry in terms of revenue and is estimated to grow at highest CAGR in the years to come. End users such as Rehabilitation Center, Hospitals, Prosthetics Clinics, and others classify Orthopedic Prosthetics Market. Prosthetics clinics segment accounts for the largest market share of Orthopedic Prosthetics Industry in terms of revenue and is estimated to lead the overall market in the years to come.
Orthopedic Prosthetics Market is segmented geographically into Americas (North America, Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa. Globally, North America accounts for the largest market share of Orthopedic Prosthetics Market in terms of revenue and is estimated to lead the overall market in the years to come. The reason being developed healthcare infrastructure, rising use of enhanced technology, and increasing awareness regarding Orthopedic Prosthetics amongst the population. Moreover, the presence of developed R&D sectors with enhanced equipment’s is another factor driving the overall market in this region. The United States is a major consumer of Orthopedic Prosthetics Industry in this region. Europe and the Asia Pacific follow suit.
On the other hand, Asia Pacific is estimated to grow at fastest pace in the years to come. The developing regions like India and China are the major consumer of Orthopedic Prosthetics market in this region. The key players of the market are The Ohio Willow Wood Co., Otto Bock Healthcare GmbH, Hanger Inc., Blatchford Ltd., Touch Bionics Inc., and Ossur. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Orthopedic Prosthetics in these regions, from 2012 to 2022 (forecast), covering
• North America
• Southeast Asia
Global Orthopedic Prosthetics market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Johnson & Johnson
• Touch Bionics
• The Ohio Willow Wood
• Corin USA
• AAP Implantate AG
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Upper Prosthesis
• Lower Prosthesis
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Orthopedic Prosthetics for each application, including
• Disabled Children
• Disabled Adult
Research Support Specialist, USA