The main function of orthopedic prosthetic is to to restore the function of the lost body part. Orthopedic prosthetic is used as a substitute of the bone in leg, hip, elbow and other part of the body. Liner, sockets, upper extremity prosthesis and lower extremity prosthesis are some of the common types of the orthopedic prosthetics. Today, many different technologies such as hybrid, electric powered and manual prosthetics are used. These prostheses can be generated by using Computer- aided design or by hand. These devices are very useful for the treatment of conditions such as back pain, implants such as bone screw, bone plates and others. Prosthetics are made of material such as wood, rubber, plastics, carbon fiber, titanium, aluminum and other.
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Factors responsible for the growth of these markets are as follow:
The global orthopedic prosthetics market is segmented on the basis of product type which is segmented as upper extremity prosthetics which is further sub- segmented as hand prosthetics, elbow prosthetics, shoulder prosthetics and lower extremity prosthetics which is sub segmented as foot & ankle prosthetics, knee prosthetics, hip prosthetics, then there is liners, sockets, modular components. Then technology is segmented as manual prosthetics, electric powered prosthetics and hybrid prosthetics and end user is segmented as hospitals, clinics, rehabilitation centers, and others.
Some of the launches and acquisition in the market are as follow:
“According to Data Bridge Market Research, Global Orthopedic prosthetics Market is expected to reach an estimated value of USD 3.24 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026”
Few of the major competitors currently working in the orthopedic prosthetics market are Blatchford Group (UK), Touch Bionics Inc. (US), The Ohio Willow Wood Co. (US), Össur (Iceland), Ottobock (Germany), Fillauer LLC. (US), Advanced Arm Dynamics, inc. (US) Smith and Nephew (UK), Touch Bionics Inc (US)., Zimmer Boimet Holdings Inc. (US), Stryker Corp (US) DePuy Synthes (US). Blatchford Ortopedi AS (Norway), Exactech, Inc (US) Globus Medical Inc, (US), RTI Surgical Inc (US), Wright Medical Group N.V.,(US), Johnson & Johnson Services, Inc. (US), Arthrex Inc,(US), AlloSource (US) and others.
Orthopedic prosthetics is very helpful for the patients as it is helping them to get better life. These devices are providing them an alternative for their injured part, so that they can work properly. Increasing sports incidences and accidents worldwide which causes injuries to the bone; is the factor which is creating an opportunity for this market. Availability of different devices as per the need of the patient, and comfort provided by these device is also creating demand for these devices in the market.
Europe Orthopedic Prosthetics Market - Industry Trends and Forecast to 2026
Asia-Pacific Orthopedic Prosthetics Market - Industry Trends and Forecast to 2026
Global Orthopedic prosthetics Market – Industry Trends - Forecast to 2026
North America Orthopedic Prosthetics Market- Industry Trends and Forecast to 2024