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Orthopedic Prosthetic Devices Market Size, Segmentation, Opportunities, Trends, Growth and Industry Forecast To 2022

Overview

Orthopedic prosthetic devices are external medical substitutes for the missing skeletal part. Orthopedic prosthetics are a vital component of the rehabilitation of the injured or harmed skeletal system, associated musculature, and joints. These devices are mostly used after trauma or surgical removal of body appendages, disability arising from congenital conditions, or similar disabling illnesses. Orthopedic prosthetic devices efficiently facilitate the replacement of such missing body parts and make up for a normal living. With over 50,000 amputations occurring in the U.S. alone, the market for orthopedic prosthetics holds a significant position in the overall medical devices market.

This market is currently driven by factors such as technological development in robotic prosthetics, growing incidence of debilitating diseases, rising number of amputations resulting from war and combat, and rise in lifestyle-related chronic conditions. Other market drivers include factors such as a growing preference for regaining and improving quality of life and a rise in sports injuries. In addition, the advent of advanced bionics, products such as robotic exoskeletons, and such rapid technical innovations serve as lucrative opportunities for future growth of the market. Conversely, high expenditure, issues with reimbursement, and certain entry barriers specifically relating to regulatory guidelines are the major factors that may hold back the growth of this market.

The global orthopedic prosthetic devices market is technology driven and is characterized by several market consolidation events taking place in the recent past. Improved ergonomics of orthopedic prosthetics play a critical role for the new market players. The use of special materials such as Kevlar, carbon fiber, titanium, and others, with a focus on improving sturdiness, controlled movement, and quicker rehabilitation, forms a major trend in this market. In addition, the introduction of CAD/CAM technology in creating more precise custom implants is another rising trend in the orthopedic prosthetic devices market in developed regions.

The global orthopedic prosthetic devices market is segmented on the following bases:

Products

Upper Extremity Prosthetics

  • Shoulder
  • Elbow
  • Hand

Lower Extremity Prosthetics

  • Hip
  • Knee
  • Foot and Ankle

Technology

  • Manual Prosthetics
  • Electric Powered Prosthetics
  • Hybrid Prosthetic

Geography

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Rest of APAC
  • Latin America
  • Middle East and Africa

Key players identified for the orthopedic devices market include but are not limited to:

Zimmer Holdings, Inc., Exactech, Inc., Touch Bionics Inc., Otto Bock HealthCare GmbH, Stryker Corp., Biomet Inc., DePuy, Inc., Smith and Nephew plc, and others.

This report offers the following:

  • An overview of the global markets for orthopedic prosthetic devices
  • Market trends assessment for the period 2014-2022, with historical information for 2014 & 2015, and projections through 2022, with respective CAGRS during 2016-2022
  • Qualitative assessment tools such as market drivers, challenges and future prospects, major commercial events, etc.
  • Market competition scrutiny tools such as market share analysis, attractive investment proposition, and Porter’s Five Forces model
  • Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics
  • A general overview of the industry structure

Company profiles highlighting key information about the major players operating in the orthopedic prosthetic devices market.

Frequently asked questions :

The market for Orthopedic Prosthetic Device Marke is expected to reach US$ XX Bn in 2022.

The Orthopedic Prosthetic Device Marke is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2016-2022.

The base year of this report is 2021.

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Trusted By
Godaddy
Published Date:  May 2016
Category:  Medical Devices
Report ID:   57833
Report Format:   PDF
Pages:   120
Rating:    4.1 (44)
Delivery Time: 24 Hours to 48 Hours   
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