About Prosthetics & Orthotics
Prosthetics & orthotics are types of medical devices that enable people with disability or functional limitations to live independently, healthy, productive, and with dignity like other people. Prosthetics involves solutions such as artificial legs, arms, etc. for people with disability. Orthotics are devices that refer to people who need support for weakened body parts due to injury, accidents, or any other reason. Rising incidences of accidents and sports-related injuries are expected to drive the market during the forecast period.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The key players are targeting the innovations of the Solutions with better quality, and better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Prosthetics & Orthotics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Otto Bock (Germany), Medtronic PLC (Ireland), Stryker Corporation (United States), Zimmer-Biomet Holdings, Inc. (United States), Smith and Nephew PLC (United Kingdom), Conmed Corporation (United States), Donjoy, Inc. (United States), NuVasive, Inc. (United States), Aesculap Implant Systems, LLC (United States), BSN Medical (Germany) and DeRoyal Industries, Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Prosthetics & Orthotics market by Type (Prosthetics (Artificial Legs, Artificial Hands, Upper Limb Prosthetics, Lower Limb Prosthetics) and Orthotics (Knee Braces and Supports, Ankle Braces and Supports, Upper Extremity Braces and Supports, Spinal Braces and Supports, Foot Insoles)) and Region.
On the basis of geography, the market of Prosthetics & Orthotics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Conventional will boost the Prosthetics & Orthotics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material Type, the sub-segment i.e. Thermoplastics will boost the Prosthetics & Orthotics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Age Group, the sub-segment i.e. Children will boost the Prosthetics & Orthotics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Prosthetics & Orthotics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of 3D Printing Technology and integration of Cutting Edge Technologies and Growing Popularity of Myoelectric Prosthetics and Orthotics Devices That Use Muscle’s Electricity
Market Growth Drivers:
Rising Limb Loss and Physical Disabilities Incidences Due to Trauma, Accidents, and Sports Related Injuries and Increasing Ageing Population Is Likely to Create Demand for Orthotics Devices
Challenges:
Lack of Awareness and Limited Access in Rural and Underdeveloped Areas
Restraints:
High Cost of Devices and Stringent Regulations for Approval
Opportunities:
High Investment in Healthcare Sector and Demand for Bionic and Robotic Prosthetics and Orthotics Solutions
According to Sec. 890.3025 Prosthetic and orthotic accessory of the Food and Drug Administration. A prosthetic and orthotic accessory is a device intended for medical purposes to support, protect, or aid in the use of a cast, orthosis (brace), or prosthesis. Examples of prosthetic and orthotic accessories include the following: A pelvic support band and belt, a cast shoe, a cast bandage, a limb cover, a prosthesis alignment device, a postsurgical pylon, a transverse rotator, and a temporary training splint.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Prosthetic and Orthotics Manufacturers, Suppliers & Distributors, Raw Material Providers, Government Regulatory Bodies, Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.