Asia-Pacific Orthopedic Prosthetics Market By Product Type ( Spinal Orthotics, Sockets, Modular Components, Liners, Braces, Lower Extremity Prosthetics, Upper Extremity Prosthetics), By Technology ( Manual Prosthetics, Hybrid Orthopedic Prosthetics, Electric Powered, Conventional), By Application ( Disabled Children, Disabled Adult), By End User ( Trauma Centers, Rehabilitation Center, Prosthetic Clinics, Outpatient Centre, Orthopedic Clinics, Hospitals, Other End Users), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific) - Industry Trends and Forecast to 2026
Market Analysis: Asia-Pacific Orthopedic Prosthetics Market
Asia-Pacific orthopedic prosthetics market is registering a substantial CAGR in the forecast period of 2019-2026. This rise in the market can be attributed to the technology advancements in the field of orthopedic prosthetics design and manufacturing and growing incidence of trauma and road accident.
Market Definition: Asia-Pacific Orthopedic Prosthetics Market
An orthopedic prosthesis is an artificial limb intended to substitute a patient's mislaid flesh portion. The protocol produced orthopedic prosthetics requires a small weight and very large resistance combination. Supplies such as Kevlar, carbon fiber and titanium are therefore widely used for manufacturing. Orthopedic prosthesis relates to the area of identification, development, manufacture and adjustment of custom artificial limbs in individuals with lacking arms left owing to injury, disease or genetic disease.
- Technology advancements in the field of orthopedic prosthetics design and manufacturing are driving the growth of the market
- Growing incidence of trauma is boosting the growth of the market
- Rising incident of road accidents is contributing to the growth of the market
- growing population of elderly is propelling the growth of market
- High cost of the device is hampering the growth of the market
- Absence of reimbursement policies is hindering the growth of the market
- Regulatory requirement is also restraining the growth of the market
Segmentation: Asia-Pacific Orthopedic Prosthetics Market
By Product Type
- Spinal Orthotics
- Modular Components
- Lower Extremity Prosthetics
- Arm Prosthesis
- Prosthetic legs
- Knee Prosthetics
- Hip Prosthetics
- Foot & Ankle Prosthetics
- Upper Extremity Prosthetics
- Shoulder Prosthetics
- Hand Prosthetics
- Elbow Prosthetics
- Manual Prosthetics
- Hybrid Orthopedic Prosthetics
- Electric Powered
- Disabled Children
- Disabled Adult
By End User
- Trauma Centers
- Rehabilitation Center
- Prosthetic Clinics
- Outpatient Centre
- Orthopedic Clinics
- Other End Users
- South Korea
- Rest of Asia-Pacific
Key Developments in the Market:
- In February 2019, Össur has bought SpringActive, Inc., a privately-owned engineering company specializing in computer-controlled prosthetic devices and manufacturing exotic systems, SpringActive's electric prosthetic ankle technology allows the patient to operate and ambulate on all terrains, offering a variety of movement designed to allow the customer to manage and execute normal ankle activities. This purchase investigated the ability of technology to distribute across various consumer systems, a powerful operating connection between organizations and supplementary characteristics between the two R&D groups.
- In May 2018, Researchers at Stanford and Seoul National University have developed a new Synthetic Nerve System that would make it possible for prosthetic limbs to have a sense of touch. These nervous systems take skin for granted, but it is a complicated sensory, signaling and decision-making scheme. This interactive sensory nervous system is a move towards creating skin-like peripheral neural networks for all kinds of application
Asia-Pacific orthopedic prosthetics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares Orthopedic Prosthetics for Asia Pacific
Key Market Competitors:
Few of the major market competitors currently working in the Asia-Pacific orthopedic prosthetics market are Ottobock, Johnson & Johnson Services, Inc., Smith & Nephew, Stryker, Zimmer Biomet, Blatchford Limited., OTTO GROUP, Össur Corporate, UNYQ. , and others.
Research Methodology: Asia-Pacific Orthopedic Prosthetics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of Asia-Pacific orthopedic prosthetics market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)