Prosthetics and Orthotics

By 2027 Prosthetics and Orthotics Market Size Reaches $ 13.2 Billion Mark Prosthetics and Orthotics Market (By Type: Orthotics (Upper Limb, Lower Limb, and Spinal Orthotics); By Prosthetics: Upper Extremity, Lower Extremity, Liners, Sockets, and Modular Components) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027

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The prosthetics and orthotics market size accounted for US$ 9.1 billion in 2019 and is estimated to reach US$ 13.2 billion by 2027 and is anticipated to register a CAGR of 4.8% from 2020 to 2027.

The report provides the overall revenue of the global prosthetics and orthotics market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

Growth Factors

The rising occurrences of sports wounds, aggregate occurrence of osteosarcoma, and intensifying elderly populace are the crucial influences boosting the prosthetics and orthotics market. Currently, more people are choosing sports as a career, growing the likelihood of numerous sports injuries. The elderly are more vulnerable to conditions, for example, osteoporosis, and osteopenia making them common users of numerous orthopedic solutions. Growing the frequency of osteosarcoma in children and adults is furthermore pouring the growth of prosthetics and orthotics market considerably. Patients improving from surgery frequently need orthopedic devices and prosthetics as a part of post-surgery treatment, which is slated to propel the market growth in the upcoming years. Moreover, the technological advancement in orthotics and prosthetics is expected to provide lucrative opportunities to the market in the near future. Conversely, the high cost of the customized orthotic devices is anticipated to hinder the market growth during the forecast period.

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Report Scope of the Prosthetics and Orthotics Market

Report Highlights Details
Market Size USD 13.2 Billion by 2027
Growth Rate CAGR of 4.8% from 2021 to 2027
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2027
Segments Covered Type, Region
Companies Mentioned Ossur, Fillauer LLC, Ottobock Healthcare GmbH, Blatchford Inc., Ultraflex Systems Inc., Shapeways, Inc., Hanger, Inc., Bauerfeind AG

Regional Snapshots

Geographically, the North America region is projected to create the largest revenue in the prosthetics and orthotics market and is expected to continue its dominance over the projection period. Furthermore, technological development could also stoke demand in the region. The availability of impressive healthcare infrastructure, increasing investments in research and development, favorable reimbursement policies and are anticipated to support the demand for prosthetics and orthotics in the North America region. Additionally, the increasing prevalence of osteosarcoma and rising incidences of sports injuries are anticipated to boost the market growth. However, the Asia Pacific region is expected to witness the fastest growth during the projection period owing to the increasing count of road accidents, promising government initiatives, and diabetes-associated amputations to become an attractive market for prosthetics and orthotics. Moreover, the growing consciousness for orthotics and prosthetics has emerged as crucial factor improving the sale in the emerging region.

Report Highlights

  • The orthotics segment is projected to witness considerable growth in terms of revenue, over the forecast period. Growing cases of diabetes-related amputations across the world are acting as the pouring factor for this segment.
  • The Asia Pacific region is projected to exhibit the highest growth rate over the projection period. An upsurge in disposable income and supportive government initiatives will propel the market growth in the coming years.
  • Rising pervasiveness of bone-related illnesses such as osteoporosis, osteosarcoma, and osteopenia are predicted to accelerate demand for orthotics across the globe
  • Product launches, acquisitions, mergers and partnerships & collaborations are considered as fundamental strategies adopted by the plentiful market players to expand their market share and gain a competitive advantage.
  • Development of microprocessor-controlled prosthetics will offer usual prosthetic problems with a front-line tactic and will offer smoother and natural motions via improvement of this technology for prosthetics

Key Players & Strategies

The prosthetics and orthotics market is moderately competitive, and the degree of competition will remain the same during the forecast period. These vendors are constantly focusing on improving R&D and facilitate other organic strategies to gain a competitive edge in the market. Although the escalating growth impetus will offer enormous growth prospects, more prices of prosthetics and orthotics products and treatments will challenge the growth of the market participants. Furthermore, to make the most of the prospects, the prosthetics and orthotics industry participants would emphasis further on the development forecasts in the rapidly expanding segments, while upholding their footprint in the slow-growing segments.

Segments Covered in the Report

This research report estimates revenue growth at global, regional, and country levels and offers an analysis of present industry trends in every sub-segment from 2016 to 2027. This research study analyzes market thoroughly by classifying global prosthetics and orthotics market report on the basis of different parameters including type and region:

By Type

  • Orthotics
    • Upper Limb
    • Lower Limb
    • Spinal Orthotics
  • Prosthetics
    • Upper Extremity
    • Lower Extremity
    • Liners
    • Sockets
    • Modular Components

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Prosthetics And Orthotics Market, By Product

7.1. Prosthetics And Orthotics Market, by Product Type, 2020-2027
7.1.1. Orthotics
7.1.1.1. Upper Limb
7.1.1.2. Lower Limb
7.1.1.3. Spinal Orthotics
7.1.1.4. Market Revenue and Forecast (2016-2027)
7.1.2. Prosthetics
7.1.2.1. Upper Extremity
7.1.2.2. Lower Extremity
7.1.2.3. Liners
7.1.2.4. Sockets
7.1.2.5. Modular Components
7.1.2.6. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Prosthetics And Orthotics Market, Regional Estimates and Trend Forecast

8.1. North America
8.1.1. Market Revenue and Forecast, by Product (2016-2027)
8.1.2. U.S.
8.1.3. Rest of North America
8.1.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.2. Europe
8.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.2.2. UK
8.2.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.2.3. France
8.2.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.2.4. Rest of Europe
8.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.3. APAC
8.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.2. India
8.3.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.3. China
8.3.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.4. Japan
8.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.5. Rest of APAC
8.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
8.4. MEA
8.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.2. GCC
8.4.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.3. North Africa
8.4.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.4. South Africa
8.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.5. Rest of MEA
8.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
8.5. Latin America
8.5.1. Market Revenue and Forecast, by Product (2016-2027)
8.5.2. Brazil
8.5.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.5.3. Rest of LATAM
8.5.3.1. Market Revenue and Forecast, by Product (2016-2027)

Chapter 9. Company Profiles

9.1. Ossur
9.1.1. Company Overview
9.1.2. Product Offerings
9.1.3. Financial Performance
9.1.4. Recent Initiatives
9.2. Fillauer LLC
9.2.1. Company Overview
9.2.2. Product Offerings
9.2.3. Financial Performance
9.2.4. Recent Initiatives
9.3. Ottobock Healthcare GmbH
9.3.1. Company Overview
9.3.2. Product Offerings
9.3.3. Financial Performance
9.3.4. Recent Initiatives
9.4. Blatchford Inc.
9.4.1. Company Overview
9.4.2. Product Offerings
9.4.3. Financial Performance
9.4.4. Recent Initiatives
9.5. Ultraflex Systems Inc.
9.5.1. Company Overview
9.5.2. Product Offerings
9.5.3. Financial Performance
9.5.4. Recent Initiatives
9.6. Shapeways, Inc.
9.6.1. Company Overview
9.6.2. Product Offerings
9.6.3. Financial Performance
9.6.4. Recent Initiatives
9.7. Hanger, Inc.
9.7.1. Company Overview
9.7.2. Product Offerings
9.7.3. Financial Performance
9.7.4. Recent Initiatives
9.8. Bauerfeind AG
9.8.1. Company Overview
9.8.2. Product Offerings
9.8.3. Financial Performance
9.8.4. Recent Initiatives

Chapter 10. Research Methodology

10.1. Primary Research
10.2. Secondary Research
10.3. Assumptions

Chapter 11. Appendix

11.1. About Us
11.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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