2024 Orthopedic Prosthetics Market Summary: 5 Key Findings
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What is the Expected Growth Rate of the Orthopedic Prosthetics Market from 2024 to 2033?
The orthopedic prosthetics market will grow from $1.96 billion in 2023 to $2.07 billion in 2024, at a CAGR of 5.4%. Factors contributing to this growth include an aging population, trauma and injuries, chronic conditions, and advancements in rehabilitation and physical therapy.
The orthopedic prosthetics market is expected to grow to $2.55 billion by 2028, at a CAGR of 5.4%. Factors contributing to this growth include emerging markets, personalized prosthetics, regulatory support, and value-based healthcare. Trends include advanced materials, sensor integration, osseointegration, and user-centered design.
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What Key Factors Are Fueling the Growth of the Orthopedic Prosthetics Market?
The orthopedic prosthetics market is being driven by the growing number of trauma cases and accidental injuries, which often require amputations and prosthetic devices. In the U.S., 2.1 million people live with limb loss, and the number is expected to double by 2050. With approximately 185,000 amputations performed each year in the U.S., the need for orthopedic prosthetics is growing, driving market expansion.
What Are the Major Segments of the Orthopedic Prosthetics Market?
1) By Product Type: Upper Extremity Prosthetics, Lower Extremity Prosthetics, Sockets, Other Products
2) By Technology: Conventional orthopedic prosthetics, Electric-powered orthopedic prosthetics, Hybrid orthopedic prosthetics
3) By End Users: Hospitals, Prosthetic Clinics, Rehabilitation Center, Other End Users
What New Trends Are Transforming the Orthopedic Prosthetics Market?
The orthopedic prosthetics market is experiencing the rise of 3D-printed prosthetics, which offer benefits like lower costs, faster production times, and consistent quality. Russian company Zdravprint is developing 3D-printed prosthetics for the hand, elbow, and shoulder.
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Which Regions Are Driving Growth in the Orthopedic Prosthetics Market?
North America was the largest region in the global orthopedic prosthetics market in 2023. Western Europe was the second-largest region in the orthopedic prosthetics market. The regions covered in the orthopedic prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Orthopedic Prosthetics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the orthopedic prosthetics market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Orthopedic Prosthetics Market Include
1. Orthopedic Prosthetics Market Executive Summary
2. Orthopedic Prosthetics Market Segments
3. Orthopedic Prosthetics Market Size And Template Market Growth Rate
4. Key Orthopedic Prosthetics Market Trends
5. Major Orthopedic Prosthetics Market Drivers
……
25. Key Mergers And Acquisitions In The Orthopedic Prosthetics Market
26. Top Orthopedic Prosthetics Companies
27. Orthopedic Prosthetics Market Opportunities And Strategies
28. Orthopedic Prosthetics Market, Conclusions And Recommendations
29. Appendix
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