The Orthosis And Prosthetics Market is expected to reach USD 6,250.2 million in 2021 and is projected to grow at a CAGR of 4.8% during the forecast period. Prosthesis is a device used to replace a part, an absent or deficient limb. Orthosis is an externally applied device used to change the functional and structural characteristics of the skeletal and neuromuscular systems.
The orthosis and prosthetics market growth is expected to be driven by increasing geriatric population, which requires orthosis treatment due to growing demand in this age group for braces and supports for non-invasive treatment. Increasing prevalence of diseases such as vascular diseases, osteoarthritis, and rise in obesity rates has resulted in health conditions that involve restricted movement and disability. Thus, increasing patients seeking treatment for restricted movement due to health conditions and disability contribute to a high demand for orthosis and prosthetics in the healthcare sector.
The increasing number of road accidents and sports injuries and availability of personalized orthopedic prosthetics due to advances in medicine are expected to contribute to market growth. Government and international health welfare organizations are increasing their efforts to offer better healthcare with increasing support initiatives and funding. For instance, in 2017, the World Health Organization (WHO) launched the Rehabilitation 2030 initiative, which emphasizes the need for health system strengthening. The initiative is aimed as a call for all stakeholders worldwide to expand financing for rehabilitation and improving data collection and research on rehabilitation.
Recent trends in orthopedic prosthetics include the use of new polymer materials and the development of prosthetic devices as per the functional needs of patients. Developing lightweight yet long-lasting orthopedic prosthetics to satisfy the needs of users is expected to drive the demand for orthosis and prosthetics during the forecast period. However, unfavorable reimbursement policies, entry barriers in terms of regulatory guidelines, and shortage of well-equipped rehabilitation centers are expected to hamper the market growth.
The COVID-19 pandemic has placed enormous strain on healthcare services and assistive technology practitioners. In these current circumstances, it is necessary to promote health coverage and support to amputees and disabled patients. Emphasis on quality maintenance in orthosis and prosthetics treatment, assuring patient support, and preventive initiatives regarding the COVID-19 pandemic are expected to fuel the orthosis and prosthetics market growth.
TABLE 1: GLOBAL ORTHOSIS AND PROSTHETICS MARKET OVERALL SNAPSHOT
The global orthosis and prosthetics market report has been segmented by product type, age group, indication, and region.
FIGURE 1: GLOBAL ORTHOSIS AND PROSTHETICS MARKET SEGMENTATION
Orthosis and Prosthetics Market, by Product Type
Based on product type, the market is divided into orthosis and prosthetic. Among these segments, orthosis segment holds the largest market share in 2021 and is expected to remain the largest segment during the forecast period.
Increasing incidences of sports injuries, rise in prevalence of osteoarthritis, and increasing adoption of orthopedic technology are expected to drive the segment growth. Increasing use of orthosis to support, align, prevent, or correct deformities or to improve the function of movable parts of the body is expected to fuel the segment growth.
Orthosis and Prosthetics Market, by Age Group
Based on age group, the market is divided into pediatric and adult. Among these segments, the adult segment is expected to be the fastest growing segment during the forecast period.
The segment growth can be attributed to increasing geriatric population seeking orthopedic treatment as they are more prone to injuries as compared to children. As a result, there is an increase in number of adults seeking treatment for orthosis and prosthetics. Orthosis and prosthetics devices are largely used for treating adults as they have high adaptability to these devices and maturity to handle these supporting devices.
Orthosis and Prosthetics Market, by Indication
Based on indication, the market is divided into lower limb deformities, upper limb deformities, and spinal. Among these segments, the lower limb deformities segment holds the largest market share in 2021 and is expected to remain largest during the forecast period.
The segment growth can be attributed to injuries and accidents resulting in disability or genetic disability in lower leg. A lower limb orthosis is used to compensate or control decreased or abnormal forces in the hip, knee, ankle, or foot.
Orthosis and Prosthetics Market, by Region
Based on region, the orthosis and prosthetics market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America.
North American orthosis and prosthetics market holds the largest market share. The regional market growth can be attributed to increased focus on healthcare, the presence of key players with a strong distribution network, and well-established healthcare infrastructure. There is an increasing prevalence of limb amputation in the U.S. According to the Amputee Coalition (Limb Loss and Limb Difference Awareness Month of April 2021), more than 2 million Americans live with limb loss or limb difference, while 185,000 amputations are performed annually. Hence, there is high demand for orthosis and prosthetics due to increasing number of amputation cases in the region.
Asia Pacific is expected to be the fastest growing market during the forecast period. The regional market is driven by a rise in the number of road accidents, increasing cases of diabetes-related amputations, and supportive government initiatives and activities to promote healthcare and rehabilitation. The Asian Prosthetic and Orthotics Meeting took place in November 2018 in Thailand for fostering cooperation between Asian countries and discussing the ongoing and emerging issues related to prosthetics and orthotics. Hence, such initiatives and increasing government support is expected to boost regional market growth during the forecast period.
TABLE 2: GLOBAL ORTHOSIS AND PROSTHETICS MARKET OVERVIEW
FIGURE 2: GLOBAL ORTHOSIS AND PROSTHETICS MARKET (USD MILLION), 2021-2030
Recent Developments in the Global Orthosis and Prosthetics Market
- November 2020 - Open Bionics introduced the developed version of its existing product, Hero Arm. The metal gear solid prosthetic/bionic version was made with the aim of providing prosthetics at affordable prices.
- February 2020 - In2Bones Global Inc. introduced the Avenger Radial Head Prosthesis System in the United States market. This product is used for primary and revision joint replacement of the radial head.
- February 2018 - FX Solutions established a subsidiary named FX Shoulder USA Inc. to provide its unique, large, and innovative offer of shoulder implants.
- May 2018 - Ossur introduced products, such as Ossur Formfit Pro Line of 3D knitted supports at OTWorld, to gain more market penetration.
- July 2018 - Blatchford launched a new sandal toe foot shell for its various products, such as Linx, Elan, and Echelon VAC, to improve its product portfolio.
What Does This Report Provide?
This report provides a detailed understanding of the orthosis and prosthetics market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market and an in-depth analysis of the leading companies operating in the market. The major market drivers, challenges, and opportunities for the orthosis and prosthetics market have been covered in the report. This report further includes the market shares of the leading companies operating in the global market, along with their production capacities and the growth strategies adopted by them.
By Product Type:
- Knee Ankle Foot Orthoses (KAFO)
- Wrist Hand Orthoses (WHO)
- Foot Orthoses (FO)
- Ankle Foot Orthoses (AFO)
- Elbow Orthosis (EO)
- Hip Knee Ankle Foot Orthoses (HKAFO)
- Shoulder Orthoses
- Upper Limb Orthoses
- Below Knee (BK)
- Above Knee (AK)
- Upper Extremity (UE)
By Age Group
- Lower Limb Deformities
- Upper Limb Deformities
North America Orthosis and Prosthetics Market
- North America, by Country
- North America, by Product Type
- North America, by Age Group
- North America, by Indication
Europe Orthosis and Prosthetics Market
- Europe, by Country
- Rest of Europe
- Europe, by Product Type
- Europe, by Age Group
- Europe, by Indication
Asia Pacific Orthosis and Prosthetics Market
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Product Type
- Asia Pacific, by Age Group
- Asia Pacific, by Indication
Middle East and Africa Orthosis and Prosthetics Market
- Middle East and Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Middle East and Africa, by Product Type
- Middle East and Africa, by Age Group
- Middle East and Africa, by Indication
South America Orthosis and Prosthetics Market
- South America, by Country
- Rest of South America
- South America, by Product Type
- South America, by Age Group
- South America, by Indication
Major Companies: The major companies of the market include Blatchford, Inc., Fillauer LLC, The Ohio Willow Wood Company, Ossur, Steeper Group, Ottobock Healthcare GmbH, Ultraflex Systems, Inc., e-Life International Co., Ltd., Rehan International Co., Ltd., and Xiamen Huakang Orthopedic Co., Ltd.
Objectives of This Report:
- To estimate the market size for the orthosis and prosthetics market on a regional and global basis
- To identify major segments in the orthosis and prosthetics market and evaluate their market shares and demand
- To provide a competitive scenario for the orthosis and prosthetics market with major developments observed by the key companies in the historic years
- To evaluate key factors governing the dynamics of orthosis and prosthetics market with their potential gravity during the forecast period
- To evaluate the leading company-wise pricing analysis for the mentioned applications
Key Questioned Answered in the Study:
- What are major growth drivers and market trends that are affecting the orthosis and prosthetics market?
- What is the market size in terms of both value and volume for the orthosis and prosthetics market?
- Who are the leading market players and who are the new market players that operate in the orthosis and prosthetics market with an estimated market share?
- What are the future investment pockets and opportunity in the orthosis and prosthetics market?
- Major list of customers and potential futuristic customer list along with an estimated buying volume.
- What will be the impact of COVID-19 on the orthosis and prosthetics market?
This study is customized to meet your specific requirements:
- By sub-segment
- By client-specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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