Industry Background:
Orthotic devices refer to a supporting device for treating muscles and joints which are weak, deformed, injured, and ineffective. The increasing number of patients with bone disorders boosting the demand for orthotic devices. Further, growth in geriatric population, development of advanced orthotic devices, and growing healthcare infrastructure in the developing economies expected to drive the demand for orthotic devices over the forecasted period.
This growth is primarily driven by Growth in Geriatric Population and Reimbursement Coverage for Orthopedic Treatments.
Globally, a noticeable market trend is evident Rise in Prevalence of Sports-Related Injuries
. Major Players, such as Medtronic PLC (Ireland), Stryker Corporation (United States), Zimmer-Biomet Holdings, Inc. (United States), Smith and Nephew PLC (United Kingdom), Aesculap Implant Systems, LLC (United States), Conmed Corporation (United States), Donjoy, Inc. (United States), NuVasive, Inc. (United States), BSN Medical (Germany) and DeRoyal Industries, Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
“According to the Sec. 890.3025 Prosthetic and orthotic accessory of 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.”
Market Drivers
- Growth in Geriatric Population
- Reimbursement Coverage for Orthopedic Treatments
Market Trend
- Rise in Prevalence of Sports-Related Injuries
- Emphasizing On Development of Advanced Orthotic Devices
Restraints
- Stringent Government Regulations Regarding Medical Device Manufacturing
Opportunities
Growing Healthcare Infrastructure in the Developing Countries and Increasing Demand for Orthotic Devices in Patients with Orthopedic and Other Bone Disorders
Challenges
Lack of Advanced Healthcare Facilities in the Emerging Economies
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Orthotic Devices Study Sheds Light on
The Orthotic Devices Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Orthotic Devices industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Orthotic Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.