The prosthetics & orthotics market report from The Business Research Company covers growth-driving insights such as prosthetics & orthotics market size, prosthetics & orthotics market trends and drivers, prosthetics & orthotics market segmentation, prosthetics & orthotics market competitive landscape and more

The prosthetics & orthotics market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 5%, as per The Business Research Company’s market report!

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The Prosthetics & Orthotics Market Size In 2022 And Forecast

The global prosthetics & orthotics market is expected to grow from $7.32 billion in 2021 to $7.65 billion in 2022 at a compound annual growth rate (CAGR) of 4.57%. The global prosthetics and orthotics market size is expected to grow to $9.33 billion in 2026 at a compound annual growth rate (CAGR) of 5.09%.

The prosthetics & orthotics market consists of the sales of prosthetics and orthotics products by entities (organizations, partnerships, and sole proprietors) that refer to artificial prosthetics and orthotics medical devices used to support deformed parts of the human body.

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The Increasing Sports Injuries And Road Accident Cases Is Driving The Growth Of The Prosthetics & Orthotics Market

According to the report by the National Crime Records Bureau, India, in July 2021, road crash deaths in the country increased by 1.3 percent to 1,54,732 from 1,52,780. Additionally, the leading cause of sports injuries is the year-round participation of athletes in a single sport, resulting in more injuries. For instance, in a report by the National Safety Council (NSC), cycling sports were responsible for approximately 426,000 damages in 2020; exercise, with or without equipment, was in second with about 378,000 injuries; OHV, moped, and minibikes were in third with 230,000 injuries; and skateboard, scooter, and hoverboard were in fourth with 218,000 injuries. Therefore, increasing sports injuries and road accident cases are expected to boost demand for prosthetics and orthotics during the forecast period.

Competitive Landscape And The Regional Analysis Of The Prosthetics & Orthotics Market

Fillauer LLC, Bauerfeind AG, Otto Bock Healthcare GmbH, Zimmer Biomet Holdings Inc, Blatchford Limited, WillowWood Global LLC, The Ohio Willow Wood Company, Steeper Group, Johnson and Johnson, Stryker Corporation, Smith & Nephew PLC, Howard Orthopedics Inc, Shapeways Inc, Hanger Inc, and Coloplast.

Additionally, as per TBRC’s research – North America was the largest region in the prosthetics & orthotics market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Prosthetics & Orthotics Global Market Report 2022  covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the prosthetics & orthotics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the prosthetics & orthotics market.

Technological Advancement – A Key Trend In The Prosthetics & Orthotics Market

Major companies operating in the prosthetics and orthotics market are focused on providing technologically advanced products to strengthen their market position. These companies are implementing next-generation technologies into their products and related services, such as automation, artificial intelligence (AI), microprocessors, neuromuscular signal technology, sensory control, and others, to provide smoother, more natural motions and functions.

Prosthetics & Orthotics Market Segmentation By The Business Research Company

1) By Type: Prosthetics, Orthotics

2) By Category: Upper limb, Lower limb, Spinal

3) By Technology: Conventional, Electric-Powered, Hybrid Orthopedic Prosthetics

4) By Application: Hospitals, Clinics, Rehabilitation Centers, Others

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3D Orthpedics/Prosthetics Global Market Report 2022

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