Press release
Prosthetic and Orthotics Market Trends and Forecast 2018 - 2028 : Zimmer Biomet Holdings Inc., Ossur, and Blatchford Inc.
The demand within the global market for prosthetics and orthotics has been rising on account of the efforts to enhance the quality of life of individuals with physical disabilities. Over the past decade, the healthcare industry has been studying statistics and figures with regards to the people affected with physical injuries that permanently handicap individuals. The alarming numbers that have come out of these studies have compelled the healthcare fraternity to develop a system for helping people with physical disabilities. Owing to these factors, the field of prosthetics and orthotics has received the attention of several medical researchers and scientists over the past decade. Prosthetics essentially refer to artificial body parts substitute the amputated body parts or limbs of individuals, while orthotics help in enhancing the movement of a person’s natural limbs. Both of these devices are extremely useful for patients with physical disabilities and have helped these people in performing several tasks that otherwise seem impossible. Hence, it is safe to estimate that the global market for prosthetics and orthotics would expand at a starry rate in the years to come.
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The global market for prosthetics and orthotics can be segmented based on the following criteria: type and region. It is important to scrutinize the aforementioned segments in order to get a broad-based view of the global market for prosthetics and orthotics.
A report on the global market for prosthetics and orthotics has pointed to several factors that have aided the growth of the global market in recent times. Furthermore, the report gives an analysis of the regional segments that have cumulated towards the growth of the global market for prosthetics and orthotics.
Global Prosthetics and Orthotics Market: Trends and Opportunities
The demand within the global market for prosthetics and orthotics has been rising on account of huge-scale investments made towards development of effective and flexible artificial limbs and aids. Furthermore, the uptake of sports and a range of strenuous activities has also increased the risk of injuries and fractures that can cause permanent disabilities. This has in turn generated tremendous demand within the global market for prosthetics and orthotics, while giving lucrative opportunities to market stakeholders and vendors. The number of annual road accidents has also been on a rise over the past decade, and this has also led to a boisterous rate of growth for the global prosthetics and orthotics market.
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On the negative end, the low income status of a large population, especially in the emerging economies, has taken a large chunk of consumer base away from the market. Furthermore, the demand within the global prosthetics and orthotics market is also restrained by the rising cases of duplication in this industry.
Global Prosthetics and Orthotics Market: Regional Analysis
The demand within the market for prosthetics and orthotics in North America has been escalating at an unprecedented rate, majorly due to the presence of established providers of prosthetics in the US. Furthermore, the skill and proficiency of medical experts and doctors in the region has prompted people from other regions to go there for prosthetic treatments. It is anticipated that the market for prosthetics and orthotics in Europe and Asia Pacific will also gather momentum over the coming years.
Global Prosthetics and Orthotics Market: Competitive Landscape
Some of the key players in the global market for prosthetics and orthotics are Zimmer Biomet Holdings Inc., Ossur, and Blatchford Inc.
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