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%.
