Sandy, Utah, USA, Sept. 19, 2022 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Orthopedic Prosthetic Devices Market Size, Share, Growth Analysis Report By Type (Lower Extremity Prosthetics, Upper Extremity Prosthetics, Sockets, Others), By Technology (Conventional, Electric-Powered, Hybrid), By End User (Research Institutes, Hospitals, Diagnostic Laboratories, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Intelligence, Trends, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand of global Orthopedic Prosthetic Devices Market size & share was valued at approximately USD 1.73 Billion in 2021 to $1.96 billion in 2022 and is expected to reach a value of around USD 3.97 Billion by 2030, at a compound annual growth rate (CAGR) of about 9.5 during the forecast period 2022 to 2030.”
Scrutinizing the uncertainties of the COVID-19 pandemic, our research team is constantly tracking and assessing the impact of the pandemic on the Orthopedic Prosthetic Devices market. Our market search report includes these comprehensive insights as a key market contributor.
Click Here to Access a Free Sample Report of the Global Orthopedic Prosthetic Devices Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=12194
Orthopedic Prosthetic Devices Market: Overview
An orthopedic prosthetic comprises an artificial device that substitutes for missing body parts. These artificial limbs help patients/users with lost body parts (limbs) to function efficiently and resemble natural limbs. The lost parts could result from diseases, surgical removal, congenital conditions, trauma, or disabling illness.
(A free sample of the Orthopedic Prosthetic Devices report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Orthopedic Prosthetic Devices report has been modified to include the COVID-19 impact study prior to delivery.)
To know about the assumptions considered for the study, download the pdf brochure @https://www.custommarketinsights.com/request-for-free-sample/?reportid=12194
Growth Factors
Growth in healthcare infrastructure spending
The rising number of accidental injuries and trauma cases are the major factors bolstering the growth of Orthopedic Prosthetic Devices. Accidental injuries and trauma can result from sports injuries, medical complications, road accidents, and work-related injuries.
Most of these accidents require prosthetics or amputations device to replace the lost body part. For example, around 2.1 million people in the US are living with limb loss, and it is anticipated that the number will be doubled by 2050. Also, on a yearly average, nearly 185,000 of the US population have an amputation, resulting in 300 to 500 amputations/day. This is boosting the growth of the Orthopedic Prosthetics Market.
The rising number of road accidents worldwide is also expected to drive the Orthopedic Prosthetic Devices market. Further, the increasing disability rates worldwide are also boosting the market. Advancements in technology leading to new product launches are offering prosperous opportunities to the orthopedic prosthetic market players. Although, the high cost of these devices is anticipated to be the restraining factor to the growth of the Orthopedic Prosthetic Devices market.
Segmental Overview
The Orthopedic Prosthetic Devices market is segmented into product, technique, and end user. The market is categorized into lower extremity prosthetics, upper extremity prosthetics, sockets, and other products. The lower extremity prosthetics segment is expected to maintain its dominance throughout 2022-2030. Also, the demand for upper extremist prosthetics is increasing owing to the rising number of spinal injuries.
The rising number of diabetes patients globally and increasing obese populations increase the demand for lower extremity prosthetics. Based on technique, the electric-powered segment witnessed exponential growth from 2022 to 2030. By end users, the hospital’s segment is expected to witness a high CAGR during the forecast period.
Key questions answered in this report:
- What is the size of the Orthopedic Prosthetic Devices market and what is its expected growth rate?
- What are the primary driving factors that push the Orthopedic Prosthetic Devices market forward?
- What are the Orthopedic Prosthetic Devices Industry’s top companies?
- What are the different categories that the Orthopedic Prosthetic Devices Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Orthopedic Prosthetic Devices market sample report and company profiles?
To know about the assumptions considered for the study, download the pdf brochure @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=12194
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Directly Purchase a copy of the report [220+ Pages] @ https://www.custommarketinsights.com/report/orthopedic-prosthetics-market/
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 1.73 billion |
| Projected Market Size in 2030 | USD $3.97 billion |
| CAGR Growth Rate | 9.5% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Ossur, B. Braun Melsungen AG, Smith & Nephew , Johnson & Johnson, Exatech Inc., Hanger Inc., Touch Bionics Inc., Howard Orthopaedics Inc., Medtronic Spinal, Globus Medical, Wishbone Medical, OrthoPediatrics, Arthrex, Pega Medical, Integra Lifesciences, Advanced Arm Dynamics, DJO Global, and Others |
| Key Segment | By Type, Technology, End User, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Regional Overview
The Asia Pacific to exhibit noteworthy growth in the Orthopedic Prosthetic Devices market
North America dominated the Orthopedic Prosthetic Devices market, accounting for over 35% in 2021, and is projected to continue its dominance throughout 2022-2030. The region has the presence of major players operating in the Orthopedic Prosthetic Devices market, with significant investment in R&D, rising healthcare spending, and supportive reimbursement policies laid by the federal government.
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Additionally, the increasing incidences of sports injuries and rising occurrence of osteosarcoma are anticipated to drive the demand for Orthopedic Prosthetic Devices. The US healthcare system also focuses on providing high-quality care and value-added services, expected to accelerate the demand shortly.
The Orthopedic Prosthetic Devices market in the Asia Pacific region is experiencing tremendous growth. The factors driving the market include rising diabetes cases, increasing road accidents, and favorable government initiatives in various economies. For instance, in 2018, Asian Prosthetic and Orthotics Meeting were held in Thailand. The meeting was organized to encourage cooperation among Asian economies and discuss the relevant issues concerning prosthetics and orthotics.
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Key Players Insights
The major players in the Orthopedic Prosthetic Devices market are focused on introducing advanced medical devices that offer improved efficiency and patient compliance, expanding their portfolio and attaining a competitive edge. Additionally, the surging awareness concerning the advantages of advanced Orthopedic Prosthetic Devices devices, for instance, the use of 3-D printing for designing devices compared to conventional methods, is boosting the market’s growth.
Also, key participants choose partnerships and cooperation as feasible growth strategies to maintain their competitive edge in the market. Players are involved in strategic agreements worldwide.
To know about the assumptions considered for the study, download the pdf brochure @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=12194
Some of the prominent players
- Ossur
- Braun Melsungen AG
- Smith & Nephew
- Johnson & Johnson
- Exatech Inc.
- Hanger Inc.
- Touch Bionics Inc.
- Howard Orthopaedics Inc.
- Medtronic Spinal
- Globus Medical
- Wishbone Medical
- OrthoPediatrics
- Arthrex
- Pega Medical
- Integra Lifesciences
- Advanced Arm Dynamics
- DJO Global
To know about the assumptions considered for the study, download the pdf brochure @https://www.custommarketinsights.com/request-for-free-sample/?reportid=12194
The global Orthopedic Prosthetics market is segmented as follows:
By Type
- Lower Extremity Prosthetics
- Upper Extremity Prosthetics
- Sockets
- Others
By Technology
- Conventional
- Electric-Powered
- Hybrid
By End User
- Research Institutes
- Hospitals
- Diagnostic Laboratories
- Others
On the basis of Geography
North America
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
To know about the assumptions considered for the study, download the pdf brochure @https://www.custommarketinsights.com/request-for-free-sample/?reportid=12194
Key Insights:
- As per the analysis shared by our research analyst, the Orthopaedic Prosthetics market is estimated to grow annually at a CAGR of around 5% over the forecast period (2022-2030).
- In terms of revenue, the Orthopedic Prosthetics market size was valued at around USD 2.10 billion in 2021 and is projected to reach USD 3.3 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a noteworthy rate.
- Based on product segmentation, the lower extremity prosthetics segment was estimated to hold the maximum market share in the year 2021.
- Based on technology segmentation, the electric-powered segment is expected to witness a high CAGR during 2022-2030.
- By end users, the hospital segment is expected to show a high growth rate during the forecast period.
- On the basis of region, the North American region was the leading revenue generator in 2021.
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Reasons for the Research Report
- The study provides a thorough overview of the global Orthopedic Prosthetic Devices market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Orthopedic Prosthetic Devices market analysis.
- The competitive environment of current and potential participants in the Orthopedic Prosthetic Devices market is covered in the report, as well as those companies’ strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Orthopedic Prosthetic Devices market should find this report useful. The research will be useful to all market participants in the Orthopedic Prosthetic Devices industry.
- Managers in the Orthopedic Prosthetic Devices sector are interested in publishing up-to-date and projected data about the worldwide Orthopedic Prosthetic Devices market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Orthopedic Prosthetic Devices products’ market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
To know about the assumptions considered for the study, download the pdf brochure @https://www.custommarketinsights.com/request-for-free-sample/?reportid=12194
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To know about the assumptions considered for the study, download the pdf brochure @https://www.custommarketinsights.com/request-for-free-sample/?reportid=12194
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