Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The orthosis device is an externally applied device used to modify the structural or functional characteristics of the neuro-musculoskeletal system. Alternate definition: An apparatus used to support, align, prevent, or correct deformities or to improve the function of movable parts of the body. The Prosthetic device is an artificial substitute for a missing part of the body. The artificial parts that are most commonly used for prostheses are those that replace lost arms and legs, but bone, artery, and heart valve replacements are common, and artificial eyes and teeth are also correctly termed prostheses. In China, various e-commerce platforms such as Alibaba, JD.com, and Pinduoduo offer orthosis products with discounted rates, which is expected to boost the China orthosis and prosthetics market growth.
China Orthosis and Prosthetics Market – Impact of Coronavirus (Covid-19) Pandemic
Since the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it as a public health emergency. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 83 million cases and 1.8 million deaths due to coronavirus (COVID-19) were reported up till January 03, 2021, across the globe. Furthermore, the global pandemic has led to a sudden halt in manufacturing activities across the globe specially in China, thereby affecting demand for prosthesis and orthosis, as well as production and processing of medical devices accessories or parts used in the manufacturing of prosthesis and orthosis components.
China orthosis and prosthetics market is estimated to be valued at US$ 1,509.46 million in 2020 and is expected to exhibit a CAGR of 5.0% during the forecast period (2020-2027).
Figure 1. :China Orthosis and Prosthetics Market Share (%) Analysis, By Product Type 2020 & 2027
Increasing prevalence of sports injuries, fractures, and work related disorders are expected to drive growth of the China orthosis and prosthetics market during the forecast period
An increase in the number of sports injuries and fractures are expected to drive growth of the China orthosis and prosthetic market during the forecast period. For instance, a research article was published in the International Journal of Sports and Exercise Medicine in September 2019, determined that 47% of ankle injuries, 34% of waist injuries, 25% of knee injuries, 20% of face and head injuries, and 16% of leg and feet injuries were suffered by futsal players from five universities in China (China Three Gorges University, Hubei University, Beijing Sport University, Shanghai University of Engineering Science, and Guangzhou Sport University).
Furthermore, technological advancements in the field of orthotics and prosthetics is expected to provide a significant boost to the growth of China orthosis and prosthetics market during the forecast period. Development of brain-controlled or neuroprostheses prosthetic devices is creating lucrative growth opportunities for the market players to launch advanced products in the market. Neuroprosthesis devices are devices, which enhance the input and output of neural systems. For instance, myoelectric prostheses can be controlled through the signals generated by muscles in the body.
Hydroxychloroquine Market Report Coverage
||Market Size in 2019:
||US$ 1,509.4 Mn
|Historical Data for:
||2017 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 2,122.8 Mn
- By Product Type:
- Orthosis: Knee Ankle Foot Orthoses (KAFO), Wrist Hand Orthoses (WHO), Foot Orthoses (FO), Ankle Foot Orthoses (AFO), Elbow Orthosis (EO), Hip Knee Ankle Foot Orthoses (HKAFO), Shoulder Orthoses, Upper Limb Orthoses, Others
- Prosthetic: Below Knee (BK) – Transtibial, Above Knee (AK) – Transfemoral, Upper Extremity (UE) - Transradial, Transhumeral
- By Age Group: Pediatric, Adult
- By Indication: Lower Limb Deformities, Upper Limb Deformities, Others (Spinal)
Ottobock, Össur hf, Teh Lin Pros. & Ortho. Inc., Shijiazhuang Wonderfu Rehabilitation Device Technology Co., Ltd., Hebei Baisite Prosthetic Orthotic Technology Co., Ltd., Beijing Jingbo Prosthetics & Orthotics Technical Co., Ltd., Nobel China Limited, Shijiazhuang Aofeite Import & Export Co., Ltd., e-Life International Co., Ltd., Rehan International Co., Ltd., and Xiamen Huakang Orthopedic Co., Ltd.
- The increasing incidence of sports injuries, fractures, and work-related musculoskeletal disorders
- Benefits of custom orthotics and prosthetics
|Restraints & Challenges:
- Higher cost of prosthetics
China Orthosis and Prosthetics Market – Restraints
High cost of customized and myoelectric prosthesis is a major factor, which is expected to hinder growth of the China orthosis and prosthetics market. For instance, price of a prosthetic leg starts from US$ 5,000 and a high end prosthetic leg can cost over US$ 50,000 and these prosthetics have a life of three to five years irrespective of their cost. High cost of the equipment can increase the high financial burden on patients, and healthcare systems in emerging countries such as China, where healthcare infrastructure is less advanced compared to developed economies. These factors are expected to hamper growth of the China orthosis and prosthetics market.
Figure 2. : China Orthosis and Prosthetics Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027
China Orthosis and Prosthetics Market - Competitive Landscape
Key players operating in the China orthosis and prosthetics market include Ottobock, Össur hf, Teh Lin Pros. & Ortho. Inc., Shijiazhuang Wonderfu Rehabilitation Device Technology Co., Ltd., Hebei Baisite Prosthetic Orthotic Technology Co., Ltd., Beijing Jingbo Prosthetics & Orthotics Technical Co., Ltd., Nobel China Limited, Shijiazhuang Aofeite Import & Export Co., Ltd., e-Life International Co., Ltd., Rehan International Co., Ltd., and Xiamen Huakang Orthopedic Co., Ltd.