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The orthopedic prosthetics 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 Orthopedic Prosthetics Market Size In 2022 And Forecast

The global orthopedic prosthetics market grew from $1.33 billion in 2021 to $1.45 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The orthopedic prosthetics market is expected to grow to $1.79 billion in 2026 at a CAGR of 5.3%.

The orthopedic prosthetics market consists of sales of orthopedic prosthetic devices. Orthopedic prosthetics are artificial devices used to replace a missing body part lost due to disease, trauma, surgical removal of body appendage, disabling illness, or congenital conditions.

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Increase In Number Of Trauma Cases And Accidental Injuries Is Driving The Growth Of The Orthopedic Prosthetics Market

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.

Competitive Landscape And The Regional Analysis Of The Orthopedic Prosthetics Market

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.

Additionally, as per TBRC’s research – North America was the largest region in the orthopedic prosthetics market in 2021 holding the largest market share.

The Orthopedic Prosthetics 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 orthopedic prosthetics 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 orthopedic prosthetics market.

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

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.

Orthopedic Prosthetics Market Segmentation By The Business Research Company

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

Here Are Some Reports Related To The Orthopedic Prosthetics Market –

Orthopedic Accessories Global Market Report 2022

Orthopedic Braces And Support Devices And Equipment Global Market Report 2022

3D Printed Prosthetics Global Market Report 2022

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