Global orthopedic prosthetics market size to record 4.52% CAGR through 2027
The research report on global orthopedic prosthetics market delivers crucial insights such as major growth trends, challenges & limitations, and other expansion prospects formulating the growth matrix of this business sphere over the period of 2020-2027.
Selbyville, Delaware, Jan. 25, 2021 (GLOBE NEWSWIRE) -- As per reliable estimates, global orthopedic prosthetics market is expected to grow with a CAGR of 4.52% between 2020 and 2027. This rapid expansion can primarily be attributed to high occurrence of accidental injuries, trauma cases, and osteosarcoma.
The document boasts of vital information concerning the different market segmentations such as product type, technology type, end-user analysis, and regional outlook. It also offers a detailed SWOT analysis of the several companies operating in this business domain.
For those unversed, orthopedic prosthetics is related to the identification, designing and manufacturing of custom artificial limbs used in a patient. The devices are needed to be low weight and of high strength and hence, materials such as carbon fiber, metals, thermoplastics, and EVA (ethylene-vinyl acetate) is used for their production.
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Orthopedic prosthetics are widely adopted to replace a missing or damaged body part caused due to a disease, trauma or other medical conditions. Increasing number of cases related to ankle and feet disorders coupled with growing demand for lower extremity prosthetics is also augmenting global orthopedic prosthetics industry remuneration.
According to the National UAE, around 3712 severe road accidents were recorded in the year 2018. Likewise, the Ministry of Transport in Saudi Arabia claimed that over 17,632 accidents had resulted in approximately 14,481 injuries and 2331 deaths in the year 2017. Thus, increased pervasiveness of severe road accidents has impelled the demand for orthopedic prosthetics, thereby favoring the overall market outlook.
Surging R&D investments and subsequent technological developments are also facilitating the overall business scenario. However, high costs associated with the product could act as a bottleneck towards global orthopedic prosthetics industry expansion.
*An overview of the market segmentations *
Global orthopedic prosthetics market is bifurcated on the basis of product type, technology type, and end-user spectrum. Speaking of the product landscape, the market is segmented into modular components, sockets, liners, low extremity prosthetics, and upper extremity prosthetics.
By technology, the industry is divided into conventional, electric powered, and hybrid orthopedic prosthetics segments. The end-user scope of global orthopedic prosthetics industry consists of rehabilitation center, prosthetics clinics, hospitals, and others.
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*Regional Outlook*
Global orthopedic prosthetics market is split into North America, Europe, Latin America, Asia-Pacific and rest of the world. According to reliable predictions, North America currently dominates the overall market in terms of revenue share and is likely to display similar growth trends in the upcoming years. Availability of an advanced healthcare infrastructure and widespread adoption of advanced technologies are positively impacting the regional market scenario.
On the other hand, Asia-Pacific is estimated to generate lucrative returns for worldwide orthopedic prosthetics market by the end of the forecast duration. Mounting cases of orthopedic-related disorders is promoting the business outlook in Asia-Pacific.
*Global Orthopedic Prosthetics Market by Product Variety (Revenue, USD Million, 2017-2027)*
· Modular Components
· Sockets
· Liners
· Low Extremity Prosthetics
· Upper Extremity Prosthetics
*Global Orthopedic Prosthetics Market by Technology Type (Revenue, USD Million, 2017-2027)*
· Hybrid Orthopedic Prosthetics
· Conventional
· Electric Powered
*Global Orthopedic Prosthetics Market End-user Analysis (Revenue, USD Million, 2017-2027)*
· Rehabilitation Center
· Prosthetics Clinics
· Hospitals
· Others
*Global Orthopedic Prosthetics Market by Geographical Reach (Revenue, USD Million, 2017-2027)*
*North America*
· United States
· Canada
*Latin America*
· Mexico
· Brazil
*Europe*
· Italy
· Spain
· France
· Germany
· United Kingdom
· Rest of Europe
*Asia-Pacific*
· Australia
· China
· Japan
· South Korea
· India
· Rest of Asia-Pacific
*Rest of the World*
*Global Orthopedic Prosthetics Market Competitive Outlook (Revenue, USD Million, 2017-2027)*
· Ottobock
· The Ohio Willow Wood Company
· Blatchford Ltd.
· Fillauer LLC
· Hanger Inc.
· Zimmer Biomet
· Smith & Nephew plc
· B. Braun Melsungen AG
· Johnson & Johnson
· Össur hf.
*Table of Content:*
*Chapter 1. Executive Summary *
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Million)
1.2.1. Orthopaedic Prosthetics Market, by Region, 2018-2027 (USD Million)
1.2.2. Orthopaedic Prosthetics Market, by Product, 2018-2027 (USD Million)
1.2.3. Orthopaedic Prosthetics Market, by Technology, 2018-2027 (USD Million)
1.2.4. Orthopaedic Prosthetics Market, by End User, 2018-2027 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
*Chapter 2. Global Orthopaedic Prosthetics Market Definition and Scope *
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
*Chapter 3. Global Orthopaedic Prosthetics Market Dynamics *
3.1. Orthopaedic Prosthetics Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
*Chapter 4. Global Orthopaedic Prosthetics Market Industry Analysis*
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
*Chapter 5. Global Orthopaedic Prosthetics Market, by Product *
5.1. Market Snapshot
5.2. Global Orthopaedic Prosthetics Market by Product, Performance - Potential Analysis
5.3. Global Orthopaedic Prosthetics Market Estimates & Forecasts by Product 2017-2027 (USD Million)
5.4. Orthopaedic Prosthetics Market, Sub Segment Analysis
5.4.1. Upper Extremity Prosthetics
5.4.2. Lower Extremity Prosthetics
5.4.3. Liners
5.4.4. Sockets
5.4.5. Modular Components
*Chapter 6. Global Orthopaedic Prosthetics Market, by Technology *
6.1. Market Snapshot
6.2. Global Orthopaedic Prosthetics Market by Technology, Performance - Potential Analysis
6.3. Global Orthopaedic Prosthetics Market Estimates & Forecasts by Technology 2017-2027 (USD Million)
6.4. Orthopaedic Prosthetics Market, Sub Segment Analysis
6.4.1. Conventional
6.4.2. Electric Powered
6.4.3. Hybrid Orthopedic Prosthetics
*Chapter 7. Global Orthopaedic Prosthetics Market, by End User *
7.1. Market Snapshot
7.2. Global Orthopaedic Prosthetics Market by End User, Performance - Potential Analysis
7.3. Global Orthopaedic Prosthetics Market Estimates & Forecasts by End User 2017-2027 (USD Million)
7.4. Orthopaedic Prosthetics Market, Sub Segment Analysis
7.4.1. Hospitals
7.4.2. Prosthetic Clinics
7.4.3. Rehabilitation Center
7.4.4. Others
*Chapter 8. Global Orthopaedic Prosthetics Market, Regional Analysis *
*Related Report:*
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Orthodontic Supplies Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026 *
The orthodontic supplies market is projected to foresee commendable growth in coming years owing to rising prevalence of malocclusion, increasing number of patient population under 18 years of age suffering from orthodontic condition, and increasing use of orthodontic adhesives in malocclusion treatment. Orthodontics is basically the branch of dentistry known for correcting teeth as well as jaws that are improperly positioned. From a regional frame of reference, in 2019, the Middle East & Africa orthodontic supplies market was valued at more than $106 million and is projected to witness 12.5% market growth by the end of the analysis timeline. This estimated growth is ascribed to the increasing prevalence of malocclusion across the countries in the region.
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