Orthopedic prosthetics, as the name implies, are custom-made artificial limbs that are designed and manufactured to replace a broken or damaged limb. Orthopaedic prosthetics provide artificial support to the bones, allow mobility, and relieve pain associated with a broken or damaged limb. Aging is a natural part of life. As we get older, our bone density and bone strength decline. This makes walking independently difficult for an individual. Medical science responded by introducing orthopaedic prosthetics into the market. For a long time, these products were only used in Western economies, but as globalisation increases, there is a greater awareness, availability, and use of orthopaedic prosthetics in other developing economies. Lower Extremity Prosthetics generates more than 60% of revenue. This could be attributed to rising rates of medical conditions such as diabetes, which cause symptoms in the lower half of the body. In addition, many ankle and foot disorders necessitate surgical intervention. Sports injuries are the leading cause of upper extremity prosthetics. Furthermore, an increase in public-private funding for targeted research activities, rising developments in the field of CAD/CAM technology and material science, an increase in the geriatric population base, and rising product innovations and development as a result of technological advancements all over the world will provide profitable opportunities for market players during the forecast period. Furthermore, the rising number of road accidents, rising internet penetration rate, growing promotion of internet of things in prosthetics development, extensive accessibility of technically innovative orthopaedic prosthetics, rising need for custom-made orthopaedic prosthetics, and rising per capita expenditure on health care will all contribute to the market’s future growth rate. COVID-19 caused a drop in prosthetics consumption, causing the market to suffer. The market’s revenue fell as the number of orthopaedic surgeries was delayed. According to the British Journal of Surgery, approximately 6.3 million orthopaedic surgeries will be postponed or cancelled worldwide due to COVID-19 in May 2020. The pandemic reduced demand for electric prostheses. The majority of healthcare resources were devoted to meeting the demand created by the COVID-19 pandemic. However, as economies recover from this pandemic, the market’s future appears to be brighter.
The astute research report on Orthopaedic Prosthetics market provides intricate details for analyzing appropriate parameters and valuable insights. The report offers extensive information about this business to help bring forth the growth potential of the market across various segments and provides the clients with a comprehensive analysis of factors like market size, market growth trends, competitive landscape, product utilization, regional growth prospects, and application potential, etc. The data provided in the report has been gathered from a wide variety of sources by using primary and secondary research. This Orthopaedic Prosthetics research report also provides crucial insights into consumer behaviour, brand positioning, pricing analysis, and key player strategies. The market overview included in the Orthopaedic Prosthetics research report incorporates critical factors procured from industry analysts, prominent players as well as trade and industrial organizations.
The report on Orthopaedic Prosthetics market offers up-to-date information on the factors impeding the market growth which shall provide vendors with crucial insights into understanding the market dynamics thereby aiding the clients to sketch out a better business strategy. These factors will help them identify market growth opportunities. Furthermore, FutureWise research analysts provide timely assistance to their customers in understanding eccentric market parameters more effectively thereby leading to better decision-making.
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The Orthopaedic Prosthetics market research report is segmented – by product, by technology, by end user, and by region. It also consists of insights regarding the revenue value and sales volume during the forecasted timeframe of 2022 to 2028.
Orthopaedic Prosthetics Market Segmentation:
By Product
Upper Extremity Prosthetics
Lower Extremity Prosthetics
Sockets
Other Products
By Technology
Conventional
Electric-powered
Hybrid Orthopedic Prosthetics
By End User
Hospitals
Prosthetic Centers
Other End Users
By Region
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Orthopaedic Prosthetics Market Regional Analysis:
The report provides a complete evaluation of the potential amplification of the Orthopaedic Prosthetics Market in pivotal geographic regions such as North America, Asia Pacific, Europe, Latin America and Middle East & Africa.
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Competitive Landscape:
Some of the key market players are
Blatchford Ltd.
Bock Healthcare GmbH
Fillauer LLC
Willow Wood Global LLC
Shadow Robot Company
Steeper Inc.
Mobius Bionics
Synergy Prosthetics
Human Technology Inc.
United Prosthetics
FutureWise Key Takeaways:
Growth prospects
SWOT analysis
Key market trends
Key data-points affecting market growth
Objectives of the Study:
To provide an extensive analysis of the global Orthopaedic Prosthetics market by product, by technology, by end user, and by region
To carter complex data and information on the characteristics influencing the market growth (drivers, restraints, opportunities, and industry-specific restraints)
To predict and assess micro-markets and the overall market
To anticipate the market size, in key geographical regions (along with countries)— North America, Europe, Asia Pacific, Latin America and the Middle East and Africa
To estimate and inspect competitive landscape mapping- technological advancements, product launches, mergers and expansions
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