China Orthosis and Prosthetics Market to Surpass US$ 2,122.8 Million by 2027 - Coherent Market Insights

China Orthosis and Prosthetics Market, 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, and Others), and Prosthetic (Below Knee (BK) – Transtibial, Above Knee (AK) – Transfemoral, and Upper Extremity (UE) - Transradial, Transhumeral), by Age Group (Pediatric and Adult), and by Indication (Lower Limb Deformities, Upper Limb Deformities, and Others (Spinal), is estimated to be valued at US$ 1,509.4 million in 2020 and is expected to exhibit a CAGR of 5.0% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

China Orthosis and Prosthetics Market - Recommendations for Coronavirus (COVID-19) Pandemic

In May 2020, the experts from Chinese Association of Orthopedic Surgeons and Chinese Orthopedic Association released an expert consensus for the diagnosis and treatment of orthopedic emergency surgery during the outbreak of COVID-19. The recommendations were published in the Chinese Journal of Orthopedic Trauma. The experts from Chinese Association of Orthopedic Surgeons and Chinese Orthopedic Association categorized orthopedic patients into four types.

• Type 1: Patients who have not travelled in area where the COVID-19 outbreak is severe within 14 days and had no history of direct or indirect contact with suspected or confirmed cases. For type 1 patients, the medical staff was recommended to take first-level protection measures.
• Type 2: These are the patients who have direct or indirect contact history with people from the COVID-19 prone area within 14 days. For these patients, second-level protection measures were recommended for the medical A specially assigned medical staff should treat these patients in a single ward. A negative pressure operating room should be prepared and two types of disinfectants should be used for disinfecting these operating rooms after the surgery. Regular inspection of patients should be done. The patients should be re-classified as type 3 or type 4 if the diagnosis of COVID-19 is suspected or confirmed.
• Type 3: Patients who are diagnosed as suspected case of COVID-19
• Type 4: Patients with confirmed diagnosis of COVID-19

The increasing number of product launches, technological advancements, and inorganic strategies such as merger and acquisitions are the major factors, which are expected to drive growth of the China orthosis and prosthetics market during the forecast period.

Rising product launches of orthosis and prosthetics products is expected to propel the China orthosis and prosthetics market growth over the forecast period. For instance, in May 2018, Össur, a medical device company, which manufactures non-invasive orthopedics equipment, launched Össur Formfit Pro, a range of 3D knitted supports for athletes of all abilities, and Pro-Flex LP Align prosthetic foot at the OTWorld 2018, International Trade Show and World Congress, held in Leipzig, Germany from 15 to 18 May 2018.

Increasing technological advancements of orthosis and prosthetics is also expected to boost the China orthosis and prosthetics market growth in the near future. For instance, 3D printing has revolutionized the orthosis and prosthetics market as it has advantages over traditional orthosis and prosthetics, which are mentioned below:

• Custom shapes and geometrics can be produced through 3D printing
• The devices can be easily modified and reproduced
• More sustainable as less material is consumed and the leftover material can be reused

Browse 26 Market Data Tables and 29 Figures spread through 129 Pages and in-depth TOC on China Orthosis and Prosthetics Market, by Product (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, and Others), and Prosthetic (Below Knee (BK) – Transtibial, Above Knee (AK) – Transfemoral, and Upper Extremity (UE) - Transradial, Transhumeral), by Age Group (Pediatric and Adult), and by by Indication (Lower Limb Deformities, Upper Limb Deformities, and Others (Spinal) - Forecast to 2027"

To know the latest trends and insights related to China Orthosis and Prosthetics market, click the link below:

https://www.coherentmarketinsights.com/market-insight/china-orthosis-and-prosthetics-market-4443

The increasing mergers and acquisitions between key companies is expected to drive growth of the China orthosis and prosthetics market over the forecast period. For instance, in March 2017, Ottobock announced the acquisition of BionX Medical Technologies, Inc., a U.S.-based manufacturer of active prosthetic foot and ankle solution. Through this acquisition, Ottobock is planning to strengthen its position in the prosthesis market.

Key Takeaways of the China Orthosis and Prosthetics Market:

• The China orthosis and prosthetics market is expected to exhibit a CAGR of 5.0% during the forecast period (2020-2027), owing to increasing product approvals and technological advancements in terms of orthosis products. For instance, Invent Medical, a company that provides 3D-printed custom-made orthosis and prosthetic products, adopted 3D scanning and 3D printing technology in its brand, Piro to offer lightweight and thin ankle foot orthoses (AFO) for pediatric patients. The company offers around five variations such as Active (SMO), Dynamic, Control, Block, and Static through this brand.
• Among product type, orthosis segment is expected to hold a major revenue share in 2027, owing to the increasing demand of orthosis products. The key players in the market manufactures a huge variety of orthosis products for all type of injuries. For instance, Xiamen Huakang Orthopedic Co., Ltd. manufactures braces, stabilizers, splints, walkers, slings for neck, shoulder, knee, foot, back, arms, legs, and other injuries.
• Major 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.