The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s orthopedic prosthetics market report forecasts the orthopedic prosthetics market size to grow to $2.42 Billion by 2027, with a CAGR (compound annual growth rate) of more than 5%.

Learn More On The Orthopedic Prosthetics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/orthopedic-prosthetics-global-market-report

Orthopedic Prosthetics Market Size Forecast

The global orthopedic prosthetics market is expected to grow from $1.86 billion in 2022 to $1.96 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The orthopedic prosthetics market size is expected to grow to $2.42 billion in 2027 at a CAGR of 5.4%.

North America held the largest orthopedic prosthetics market share.

Key Orthopedic Prosthetics Market Driver ­– Increase In Number Of Trauma Cases And Accidental Injuries

For instance, 2.1 million people are living with limb loss in the USA, and that number is expected to double by 2050. 185,000 people in the U.S have an amputation each year. This means that 300 to 500 amputations have been performed every day. Therefore, driving the demand for orthopedic prosthetics, thus growth in the orthopedic prosthetics market.

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Key Orthopedic Prosthetics Market Trend – Witnessing The Emergence Of 3D Printed Orthopedic Prosthetics

3D printing is a process that involves a digital model being transformed into a three-dimensional solid object. 3D printed orthopedic prosthetics are devices that are manufactured by the process of 3D printing. These devices have shorter lead times, lower costs and consistent quality. For instance, Zdravprint is a Russian company that is developing prosthetics for the hand, elbow, and shoulder using 3D printing technology.

Orthopedic Prosthetics Market Segment

1) By Product Type: Upper Extremity Prosthetics, Lower Extremity Prosthetics, Sockets, Other Products

2) By End Users: Hospitals, Prosthetic Clinics, Rehabilitation Center, Other End Users

3) By Technology: Conventional orthopedic prosthetics, Electric-powered orthopedic prosthetics, Hybrid orthopedic prosthetics

Orthopedic Prosthetics Market Major Players and Strategies

Major players in the orthopedic prosthetics market are Otto Bock HealthCare GmbH, Blatchford Ltd., Zimmer Biomet Inc., DePuy Synthes, Stryker Corporation, The Ohio Willow Wood Co., Ossur, Smith and Nephew PLC., Biomet Inc., and Touch Bionics Inc.

In October 2022, Patient Square Capital, a US-based healthcare investment firm acquired Hanger Inc for $18.75 in cash per stock. The acquisition would make Hanger a private company and help it better serve its customers and continue its growth. Hanger inc is a US-based manufacturer of Orthotic and prosthetic patient care services and solutions.

The Orthopedic Prosthetics Global Market Report 2023 covers regional data on orthopedic prosthetics market size, orthopedic prosthetics market trends and drivers, opportunities, strategies, and orthopedic prosthetics market competitor analysis. The countries covered in the orthopedic prosthetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Orthopedic prosthetics are artificial devices that replace a missing body part that may be lost through trauma, disease, surgical removal of body appendage, disabling illness, or congenital conditions.

View More Reports Related To The Orthopedic Prosthetics Market –

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