Global
Orthopedic
Prosthetics Market is expected to
grow at a significant CAGR in the upcoming years as the scope and its
applications are rising enormously across the globe. Orthopedic prosthetics is
a use of artificial limbs to develop the function and lifestyle of persons with
limb loss with the help of creativity in the design and fabrication of external
braces as a part of treatment.

The
factors that are playing a major role in the growth of Orthopedic Prosthetics
Industry are rising popularity of customized orthopedic prosthetics, developments
in production and designing technologies, and excellent resistance to wear and
tear. On the other hand, high costs of products and lack of favorable
reimbursement policies are the factors restraining overall market growth.
Orthopedic Prosthetics Market is segmented based on product types, technology,
end users, and region. Product types such as Modular Components, Upper
Extremity Prosthetics, Sockets, Lower Extremity Prosthetics, and Liners
classify the market. Lower Extremity Prosthetics segment accounts for the
largest market share of Orthopedic Prosthetics Industry and is estimated to
continue its dominance in the years to come. On the other hand, Upper Extremity
Prosthetics is another dominant segment with a significant overall market share
in terms of revenue.
Technology
such as Hybrid Orthopedic Prosthetics, Conventional, Electric Powered, and
others classify Orthopedic Prosthetics Market. The electrically powered segment
accounts for the largest market share of the industry in terms of revenue and
is estimated to grow at highest CAGR in the years to come. End users such as
Rehabilitation Center, Hospitals, Prosthetics Clinics, and others classify
Orthopedic Prosthetics Market. Prosthetics clinics segment accounts for the
largest market share of Orthopedic Prosthetics Industry in terms of revenue and
is estimated to lead the overall market in the years to come.
Orthopedic
Prosthetics Market is segmented geographically into Americas (North America,
Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin
America, Middle East and Africa. Globally, North America accounts for the
largest market share of Orthopedic Prosthetics Market in terms of revenue and
is estimated to lead the overall market in the years to come. The reason being
developed healthcare infrastructure, rising use of enhanced technology, and
increasing awareness regarding Orthopedic Prosthetics amongst the population.
Moreover, the presence of developed R&D sectors with enhanced equipment’s
is another factor driving the overall market in this region. The United States
is a major consumer of Orthopedic Prosthetics Industry in this region. Europe
and the Asia Pacific follow suit.
On
the other hand, Asia Pacific is estimated to grow at fastest pace in the years
to come. The developing regions like India and China are the major consumer of
Orthopedic Prosthetics market in this region. The key players of the market are
The Ohio Willow Wood Co., Otto Bock Healthcare GmbH, Hanger Inc., Blatchford
Ltd., Touch Bionics Inc., and Ossur. These players are concentrating on
inorganic growth to sustain themselves amongst fierce competition. As such,
mergers, acquisitions, and joint ventures are the need of the hour.
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