Orthopaedic Prosthetics Market:
Growth opportunities in the Orthopaedic Prosthetics Market look promising over the next six years. This is mainly due to the ongoing investment by the leading players in research and development activities and the introduction of products to sustain their leadership.
Orthopaedic Prosthetics Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The major driver contributing to the growth of the global orthopedic prosthetics market include the augmenting cases of trauma, and accidental injuries, the launch of customized implant products, the surging occurrence of vascular diseases, osteoarthritis, and diabetes, along with the expanding emphasis on constraining healthcare expenditure and distribution. Also, the accelerating geriatric population and the increasing prevalence of lifestyle diseases and disorders such as obesity will further strengthen the orthopedic prosthetics market size. The ongoing technological innovations in orthopedic implants are driving the market growth. However, the entry barriers as per the regulatory guidelines, lack of well-equipped rehabilitation centers, and unfavorable reimbursement policies may hinder the orthopedic prosthetics market share.
Product Type Segment Drivers
Based on the product type, the lower limb is predicted to expand at a higher CAGR during the forecast period. This is primarily due to technological expansions in the field of healthcare. On the other hand, the upper limb is projected to lead the market over the forecast period owing to their increasing endorsement among healthcare professionals and patients led by their characteristics like high stability and advanced technological properties. Additionally, wide accessibility and fuelling demand for personalized orthopedic prosthetics will further raise the market growth.
End User Segment Drivers
Based on the end-user, the market is segmented into hospitals, prosthetic clinics, and rehabilitation centers. Technological advancement in the healthcare industry along with increasing research & development activities are likely to drive the growth of this segment. Prosthetic devices have been playing a crucial role in healthcare facilities, especially in hospitals and prosthetic clinics, owing to their various advantages, such as they are user-friendly, stable, technologically advanced, and nearly restores the normal function of the missing body part. Healthcare practitioners are increasingly using technology platforms to serve the growing hospitals and patients’ needs.
Orthopaedic Prosthetics Market’s leading Manufacturers:
- The Ohio Willow Wood Co.
- Touch Bionics Inc.
- Otto Bock HealthCare GmbH
- Zimmer Holdings Inc.
- Biomet Inc.
- Hanger Inc.
- Blatchford Ltd
- Stryker Corp
- Johnson & Johnson
- Smith and Nephew plc
Orthopaedic Prosthetics Market Segmentation:
Segmentation by Product Type
- Upper Limb
- Lower Limb
- Others
Segmentation by Technology Type
- Conventional Technology
- Electric Powered Technology
- Hybrid Technology
Segmentation by End User
- Hospitals
- Prosthetic Clinics
- Rehabilitation Centers
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
