What is Orthopedic Orthotics Market?
Orthopedic orthotics devices are designed to prevent or manage musculoskeletal problems, while orthotics support or straighten weak joints or limbs. These devices include back supports and braces, foot and ankle supports, cervical collars, knee and elbow braces and hip supports. The factors such as an Increased Number of Orthopedic Surgeries and High Incidences of Sport-Related Injuries are driving the global orthopedic orthotics market.
The market study is being classified by Type (Upper-limb Orthotics (Hand, Elbow & Wrist Orthotics, and Others), Lower-limb Orthotics (Knee Orthotics, Foot and Ankle Orthotics) and Spine Orthotics), by Application (Neuromuscular and Musculoskeletal Disorders, Fractures and Sports Injuries) and major geographies with country level break-up.
DJO Global, Inc. (United States), Otto Bock (Germany), Ossur (Ireland), DeRoyal Industries (United States), Breg, Inc. (United States), Thuasne (United States), Huici Health Management Co. (China), Nakamura Brace Co., Ltd. (Japan), Orthopedic Arts Laboratory, Inc. (United States) and Orthoshed (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are The Orthotic Group Inc (Canada).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Orthopedic Orthotics market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Orthopedic Orthotics market by Type, Application and Region.
On the basis of geography, the market of Orthopedic 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Number of Orthopedic Surgeries
- High Incidences of Sport-Related Injuries
Market Trend
- Robust Increase in the Distribution Channels
Restraints
- Fluctuations in the Raw Material Prices
Opportunities
- Growing Geriatric Population Worldwide
- Growth in the Healthcare Industry Wordwide
Challenges
- Stringent Government Rules and Regulations
Market Leaders and some development strategies
In November 2018, Colfax Corporation, a leading diversified technology company, has announced it has entered into a definitive agreement to acquire DJO Global Inc. (“DJO”) from private equity funds managed by Blackstone.
Key Target Audience
Orthopedic Orthotics Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
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