The prosthetics & orthotics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Prosthetics & Orthotics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The prosthetics & orthotics market size has grown strongly in recent years. It will grow from $8.1 billion in 2023 to $8.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to rising prevalence of disabilities and amputations, advancements in materials and manufacturing techniques, increasing awareness and acceptance of prosthetics, healthcare infrastructure development, growth in sports and rehabilitation.
The prosthetics & orthotics market size is expected to see strong growth in the next few years. It will grow to $10.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to customized and patient-specific prosthetic solutions, integration of ai and robotics in prosthetics, sustainable and eco-friendly prosthetic materials, expansion in pediatric prosthetics and orthotics, adoption of telehealth for orthotic services. Major trends in the forecast period include neurological-controlled prosthetics, regulatory compliance in prosthetic safety and standards, smart prosthetics with sensory feedback, personalized prosthetic solutions for individual needs, transparency in prosthetic pricing and insurance.
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Scope Of Prosthetics & Orthotics Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Prosthetics & Orthotics Market Overview
Market Drivers –
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. According to the report by National Crime Records Bureau, India, in July 2021, road crash deaths in the country have increased by 1.3 percent to 1,54,732 from 1,52,780. Additionally, the leading cause of sports injuries is the year-round participation of athletes in a single sport, resulting in more injuries. For instance, according to the National Security Council, which is America’s nonprofit safety advocate, in 2022, 3.6 million people were treated in emergency departments for injuries involving sports and recreational equipment in the US . Therefore, increasing sports injuries and road accident cases are expected to boost demand for prosthetics and orthotics during the forecast period.
The prosthetics & orthotics market covered in this report 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
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Regional Insights –
North America was the largest region in the prosthetics orthotics market in 2023. The Asia-Pacific is expected to be the fastest-growing region in the prosthetics orthotics market share during the forecast period. The regions covered in the prosthetics & orthotics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the prosthetics & orthotics market include Fillauer LLC, Bauerfeind AG, Otto Bock Healthcare GmbH, Zimmer Biomet Holdings Inc., Blatchford Limited, Ability Matters Group Ltd., Steeper Inc., Össur hf, WillowWood Global LLC, Ultraflex Systems Inc., Hanger Inc., Mobius Bionics LLC, Ohio Willow Wood Co., Esper Bionics Inc., ToughWare Prosthetics Inc., Campbell Soup Company, College Park Industries Inc., Hosmer Dorrance Corporation, Kingsley Manufacturing Company, Mica Manufacturing Company, Sterling Check Corp., Carbon Copy Pathfinder, Proteor SA, Seattle Systems Company, Bhagwan Mahaveer Viklang Sahayata Samiti, Endolite Ltd., Freedom Innovations LLC, Spinal Technology LLC, Trulife Group Limited, Fillauer Europe AB, Ortho Europe Abingdon Ltd.
Table of Contents
- Executive Summary
- Prosthetics & Orthotics Market Characteristics
- Prosthetics & Orthotics Market Trends And Strategies
- Prosthetics & Orthotics Market – Macro Economic Scenario
- Global Prosthetics & Orthotics Market Size and Growth
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- Key Mergers And Acquisitions In The Prosthetics & Orthotics Market
- Prosthetics & Orthotics Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Prosthetics & Orthotics Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Prosthetics & Orthotics Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Prosthetics & Orthotics Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………….
Table 75: Fillauer LLC Financial Performance
Table 76: Bauerfeind AG Financial Performance
Table 77: Otto Bock Healthcare GmbH Financial Performance
Table 78: Zimmer Biomet Holdings Inc. Financial Performance
Table 79: Blatchford Limited Financial Performance
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