The Prosthetics And Orthotics Global Market Report 2023 by The Business Research Company, provides prosthetics & orthotics market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Prosthetics And Orthotics Global Market Report 2023, the market size is expected to grow from$6.6 billion in 2022 to $6.99 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global prosthetics & orthotics is expected to grow to $8.46 billion in 2027 at a CAGR of 4.9%.
The increase in sports injuries and road accident cases significantly drive the prosthetics and orthotics market. Road accidents are caused by distracted driving and high speeding. These conditions cause many disabilities in the injured people, entailing the use of prosthetics and orthotics for recovery and restoring normal day-to-day function
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The prosthetics & orthotics market is segmented:
1) By Type: Prosthetics, Orthotics
2) By Category: Upper limb, Lower limb, Spinal
3) By Technology: Conventional, Electric-Powered, Hybrid Orthopedic Prosthetics
4) By Application: Hospitals, Clinics, Rehabilitation Centers, Other Applications
Technological advancement is a new trend gaining popularity in the prosthetics and orthotics market. Major companies operating in the prosthetics and orthotics market are focused on providing technologically advanced products to strengthen their market position. These companies are implementing next-generation technologies into their products and related services, such as automation, artificial intelligence (AI), microprocessor, neuromuscular signal technology, sensory control, and others, to provide smoother, more natural motions and functions.
Major Players:
The prosthetics & orthotics market report table of contents includes:
1. Executive Summary
2. Prosthetics & Orthotics Market Characteristics
3. Prosthetics & Orthotics Market Trends And Strategies
4. Prosthetics & Orthotics – Macro Economic Scenario
5. Prosthetics & Orthotics Market Size And Growth
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27. Prosthetics & Orthotics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Prosthetics & Orthotics Market|
29. Prosthetics & Orthotics Market Future Outlook and Potential Analysis
30. Appendix
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