Market Overview:
The global prosthetics and orthotics market is expected to grow at a CAGR of 5.8% from 2018 to 2030. The growth in the market can be attributed to the increasing incidence of disabilities, growing geriatric population, and technological advancements in prosthetic and orthotic devices. Based on type, the prosthetics market is segmented into lower extremity prosthetics and upper extremity prosthetics. The lower extremity prosthetics segment is further divided into below-knee (BK) prostheses, above-knee (AK) protheses, and trans-tibial protheses; while the upper extremity prothetics segment is further classified into arm amputees, shoulder disarticulation amputees, hand amputees etc. Based on application, hospitals accounted for the largest share of the global market in 2017 owing to rising number of surgeries performed for replacement or restoration of body parts lost or damaged due to accidents or diseases Orthotics are medical devices that are used externally for supporting weakened muscles & joints or internally as part of bracing systems worn by patients with conditions such as cerebral palsy & scoliosis .
Product Definition:
Prosthetics are artificial body parts, while orthotics are devices that support or correct the function of the body. Prosthetics and orthotics can be used to improve quality of life for people with disabilities, injuries, or medical conditions.
Prosthetics:
Prosthetics, it's usage and growth factor in prosthetics & orthotics market. Prosthetic devices are used to replace a part of the body such as an amputated limb or organ. They may be temporary or permanent and are available in various forms such as artificial hands, feet, arms & legs made of plastic or metal; bionic eyes; voice synthesizers; heart valves etc.
Orthotics:
Orthotics and Prosthetics are the two parts of same coin. Orthotics is the footwear specially designed for people with foot problems such as flat feet, arthritis, bunions or any other medical condition that affects the way a person's foot functions. On the other hand, prosthetics is about making artificial body part (hand or leg) fit for use by recovering amputees.
Application Insights:
The others application segment held the largest share of over 50.0% in 2017. The other applications include home healthcare, non-clinical settings such as schools and recreational facilities, and clinical settings such as hospitals and clinics. Hospitals accounted for the largest share in prosthetics & orthotics market by application in 2017 owing to rising geriatric population that requires orthopedic implants for bone reconstruction or stabilization.
Clinics are expected to be the fastest-growing segment over the forecast period due to increasing number of sports injuries among children along with growing awareness about total body balance among adults resulting in increased demand for prothetics devices at a reasonable cost. Rehabilitation centers are also projected to grow significantly over the forecast period due to rising cases of road accidents worldwide coupled with high incidences of disc degenerative conditions, spinal stenosis, herniated discs, arthritis pain etc.
Regional Analysis:
Europe dominated the global market in 2017 owing to high prevalence of bone degenerative conditions such as osteoporosis and arthritis. According to the European Society of Regional Anaesthesia & Pain Therapy (ESRA), approximately 1 million people suffer from hip or knee osteoarthritis every year in Europe. Growing geriatric population, increasing cases of trauma, and rising awareness about available options are expected to drive growth over the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period due to growing medical tourism industry, improving healthcare infrastructure, and rising patient affordability coupled with government initiatives for prosthetic rehabilitation. In addition, favorable reimbursement policies for artificial limbs are also expected boost demand for prophylaxis and treatment of various disorders including amputations caused by diabetes or trauma resulting from road accidents among others’ in this region thereby driving regional market growth during the forecast period.
Growth Factors:
- Increasing incidence of disabilities and accidents: The increasing incidence of disabilities and accidents is one of the key growth drivers for the prosthetics and orthotics market. According to the World Health Organization (WHO), there are around 1 billion people living with some form of disability, which is around 15% of the global population. This number is expected to grow in future due to the increase in life expectancy and rapid urbanization. Moreover, according to a study by Johns Hopkins University, every year around 2 million people in the U.S. suffer from traumatic injuries that require prosthetic or orthotic devices for rehabilitation. This provides a major opportunity for players operating in this market
- Rising awareness about advanced prosthetic technologies: There is a growing awareness among patients about advanced prosthetic technologies available in the market today such as microprocessor-controlled knees (MPCKs) and myoelectric arms/legs that offer enhanced functionality as compared to traditional devices. This has led to an increase in demand for these devices, thereby driving growth prospects for this market
Scope Of The Report
Report Attributes
Report Details
Report Title
Prosthetics and Orthotics Market Research Report
By Type
Prosthetics, Orthotics
By Application
Hospitals, Clinics, Rehabilitation Centers, Others
By Companies
Ossur, Zimmer Biomet, Blatchford, Fillauer LLC, Ottobock Healthcare GmbH, WillowWood Global LLC, Ultraflex Systems, Howard Orthopedics, Inc., Bauerfeind AG
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
226
Number of Tables & Figures
159
Customization Available
Yes, the report can be customized as per your need.
Global Prosthetics and Orthotics Market Report Segments:
The global Prosthetics and Orthotics market is segmented on the basis of:
Types
Prosthetics, Orthotics
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Clinics, Rehabilitation Centers, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Ossur
- Zimmer Biomet
- Blatchford
- Fillauer LLC
- Ottobock Healthcare GmbH
- WillowWood Global LLC
- Ultraflex Systems
- Howard Orthopedics, Inc.
- Bauerfeind AG
Highlights of The Prosthetics and Orthotics Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Prosthetics
- Orthotics
- By Application:
- Hospitals
- Clinics
- Rehabilitation Centers
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Prosthetics and Orthotics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Prosthetics and orthotics are medical devices that help people with disabilities or injuries to function more effectively. Prosthetic devices replace missing body parts, such as arms, legs, or hands. Orthotic devices help correct alignment problems in the feet and ankles.
Some of the major players in the prosthetics and orthotics market are Ossur, Zimmer Biomet, Blatchford, Fillauer LLC, Ottobock Healthcare GmbH, WillowWood Global LLC, Ultraflex Systems, Howard Orthopedics, Inc., Bauerfeind AG.
The prosthetics and orthotics market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Prosthetics and Orthotics Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Prosthetics and Orthotics Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Prosthetics and Orthotics Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Prosthetics and Orthotics Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Prosthetics and Orthotics Market Size & Forecast, 2020-2028
4.5.1 Prosthetics and Orthotics Market Size and Y-o-Y Growth
4.5.2 Prosthetics and Orthotics Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Prosthetics
5.2.2 Orthotics
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Clinics
6.2.3 Rehabilitation Centers
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Prosthetics and Orthotics Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Prosthetics and Orthotics Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Prosthetics
9.6.2 Orthotics
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Clinics
9.10.3 Rehabilitation Centers
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Prosthetics
10.6.2 Orthotics
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Clinics
10.10.3 Rehabilitation Centers
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Prosthetics
11.6.2 Orthotics
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Clinics
11.10.3 Rehabilitation Centers
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Prosthetics
12.6.2 Orthotics
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Clinics
12.10.3 Rehabilitation Centers
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Prosthetics
13.6.2 Orthotics
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Clinics
13.10.3 Rehabilitation Centers
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Prosthetics and Orthotics Market: Competitive Dashboard
14.2 Global Prosthetics and Orthotics Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ossur
14.3.2 Zimmer Biomet
14.3.3 Blatchford
14.3.4 Fillauer LLC
14.3.5 Ottobock Healthcare GmbH
14.3.6 WillowWood Global LLC
14.3.7 Ultraflex Systems
14.3.8 Howard Orthopedics, Inc.
14.3.9 Bauerfeind AG
