Orthosis And Prosthetics Market is projected to grow at a CAGR of 4.8% during the forecast period 2021 to 2030 | Top Players Ultraflex Systems, Inc., e-Life International Co., Ltd., Rehan International Co., Ltd., and Xiamen Huakang Orthopedic Co., Ltd.

The Orthosis And Prosthetics Market is expected to reach USD 6,250.2 million in 2021 and is projected to grow at a CAGR of 4.8% during the forecast period. A prosthesis is a device that is used to replace a missing or defective limb or part. An orthosis is an externally applied device that modifies the skeletal and neuromuscular systems' functional and structural features.

The growing geriatric population, which necessitates orthosis treatment due to growing demand in this age group for non-invasive therapy, is likely to boost the orthosis and prosthetics market growth. Increased incidence of ailments including vascular disease and osteoarthritis, as well as rising obesity rates, have resulted in health issues that limit mobility.

The rising incidence of traffic accidents and sports injuries, as well as the availability of customised orthopaedic prosthetics thanks to medical advancements, are likely to drive market growth. With increased support measures and financing, the government and international health welfare organisations are stepping up their efforts to provide better healthcare. For example, the World Health Organization (WHO) announced the Rehabilitation 2030 project in 2017, which highlights the importance of strengthening health systems. The effort is intended to serve as a rallying cry for all stakeholders throughout the world to increase rehabilitation funding and improve data collecting and research.

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Major Companies:

1. Blatchford, Inc.
2. Fillauer LLC
3. The Ohio Willow Wood Company
4. Ossur, Steeper Group
5. Ottobock Healthcare GmbH
6. Ultraflex Systems Inc.
7. e-Life International Co.
8. Rehan International Co., Ltd.
9. Xiamen Huakang Orthopedic Co

Market Segmentation

The market for prosthetics and orthotics is divided into two categories: product type and end user. The market is divided into orthotics and prosthetics based on product type. Upper limb, lower limb, and spinal orthotics are the three types of orthotics. Upper extremity, lower extremity, liners, sockets, and modular components are the different types of prosthetics.On the basis of end user, the market is segmented as hospitals, ambulatory surgical centers, and others.

Regional Level Analysis

The paper gives a comprehensive overview of the industry, using both qualitative and quantitative data. It gives an overview of the Prosthetics and Orthotics Market and forecasts for key segments. It also includes market size and forecast projections for five major regions: North America, Europe, Asia-Pacific (APAC), the Middle East, and Africa, from 2020 to 2028.

The study discusses the market's significant advancements, as well as organic and inorganic growth strategies. Product launches, product approvals, and other organic growth tactics such as patents and events are being prioritised by a number of companies. Acquisitions, as well as partnerships and collaborations, were seen as inorganic growth tactics in the market.

The Report Provides:

1. Increasing demand for virtual reality in healthcare will drive market growth.
2. Increasing usage of virtual reality in healthcare is anticipated to fuel the market.
3. The growth of the healthcare industry is expected to augment market growth due to the increasing population.
4. Increasing research and development activities to explore the applications of virtual reality-based technology in the healthcare industry is anticipated to drive the market growth.

In the near future, technological advancements in orthotics and prosthetics are projected to promote market growth. LimbForge's 3D printed prosthetics, for example, are likely to acquire market share in underdeveloped countries due to their low cost and ease of use. Ottobock launched the C-brace with swing phase control in September 2018 to boost its market exposure in the orthotics space.

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Market Segmentation:

By Product Type:
• Orthosis
o Knee Ankle Foot Orthoses (KAFO)
o Wrist Hand Orthoses (WHO)
o Foot Orthoses (FO)
o Ankle Foot Orthoses (AFO)
o Elbow Orthosis (EO)
o Hip Knee Ankle Foot Orthoses (HKAFO)
o Shoulder Orthoses
o Upper Limb Orthoses
o Others
• Prosthetic
o Below Knee (BK)
o Transtibial
o Above Knee (AK)
o Transfemoral
o Upper Extremity (UE)
o Transradial
o Transhumeral

By Age Group
•
o Pediatric
o Adult

By Indication
•
o Lower Limb Deformities
o Upper Limb Deformities
o Spinal

By Region:

North America Orthosis and Prosthetics Market
• North America, by Country
o US
o Canada
o Mexico
• North America, by Product Type
• North America, by Age Group
• North America, by Indication

Europe Orthosis and Prosthetics Market
• Europe, by Country
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Rest of Europe
• Europe, by Product Type
• Europe, by Age Group
• Europe, by Indication

Asia Pacific Orthosis and Prosthetics Market
• Asia Pacific, by Country
o China
o India
o Japan
o South Korea
o Australia
o Rest of Asia Pacific
• Asia Pacific, by Product Type
• Asia Pacific, by Age Group
• Asia Pacific, by Indication

Middle East and Africa Orthosis and Prosthetics Market
• Middle East and Africa, by Country
o UAE
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East and Africa
• Middle East and Africa, by Product Type
• Middle East and Africa, by Age Group
• Middle East and Africa, by Indication

South America Orthosis and Prosthetics Market
• South America, by Country
o Brazil
o Argentina
o Rest of South America
• South America, by Product Type
• South America, by Age Group
• South America, by Indication

Objectives of This Report:
• To estimate the market size for the orthosis and prosthetics market on a regional and global basis
• To identify major segments in the orthosis and prosthetics market and evaluate their market shares and demand
• To provide a competitive scenario for the orthosis and prosthetics market with major developments observed by the key companies in the historic years
• To evaluate key factors governing the dynamics of orthosis and prosthetics market with their potential gravity during the forecast period
• To evaluate the leading company-wise pricing analysis for the mentioned applications

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