Prosthetics And Orthotics Market

A prosthesis is an artificial device used to replace the missing part of the body, which may be lost through disease, trauma, or a condition present at birth. While, orthosis a medical device, designed especially for the foot, used to relieve or correct an orthopedic problem. Thus, with the increasing number of road accidents and growing burden of sports injuries around the world, the demand for prosthetics and orthotics is also increasing rapidly.

Market Dynamics:

Increasing burden of osteosarcoma, increasing number of road accidents, growing burden of sports injuries, increasing burden of diabetes-related amputations, and increasing demand for prosthetics and orthotics across the globe are major factors expected to propel growth of the global prosthetics and orthotics market during the forecast period.

For instance, according to World Health Organization (WHO), road traffic injuries are the leading cause of death for children and young adults aged 5-29 years. Each year, the lives of more than 1.3 million people are cut short as a result of a road accidents. Over 20-50 million people suffer non-fatal injuries, with many incurring a disability as a result of their injury.

According to the WHO 2021 report, an estimated 305 million people across the world suffer from musculoskeletal injuries, while 222 million people suffer from neck pain. Moreover, according to the Brain Injury Research Institute, 2021 statistics, every year, more than 1.6 million-3.8 million recreation and sport-related concussions occur in the United States.

Key features of the study:

• This report provides in-depth analysis of the global prosthetics and orthotics market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global prosthetics and orthotics market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Ossur, Steeper Group, Blatchford, Inc., Fillauer LLC, Ottobock, and WillowWood Global LLC, among others.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global prosthetics and orthotics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global prosthetics and orthotics market.

Detailed Segmentation:

• Global Prosthetics And Orthotics Market, By Type:
  • Prosthetics
  • Orthotics
• Global Prosthetics And Orthotics Market, By Geography:
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa
• Company Profiles:
  • Ossur
  • Steeper Group
  • Blatchford, Inc.
  • Fillauer LLC
  • Ottobock
  • WillowWood Global LLC