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Global Orthopedic Prosthetics Market Report 2024: Size, Market Share, Analysis, Regional Outlook, Growth Trends, Key Players, And Competitive Strategies Forecast To 2033
Orthopedic Prosthetics Global Market
The Business Research Company's Orthopedic Prosthetics Global Market Report 2024 identifies increasing number of trauma cases and accidental injuries as the major driver for the Orthopedic Prosthetics market's growth in the forecast period. The trauma cases and accidental injuries are caused by various factors such as road accidents, sports injuries, other medical complications, and work-related accidents. Most of these injuries may require amputations and prosthetic devices to replace the lost body part. For instance, 2.1 million people are living with limb loss in the USA, and that number is expected to double by 2050. 185,000 people in the U.S have an amputation each year. This means that 300 to 500 amputations have been performed every day. Therefore, driving the demand for orthopedic prosthetics, thus growth in the orthopedic prosthetics market.
The orthopedic prosthetics market size has grown strongly in recent years. It will grow from $1.96 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to aging population, trauma and injuries, chronic conditions, rehabilitation and physical therapy.
The orthopedic prosthetics market size is expected to see strong growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to emerging markets growth, personalized prosthetic solutions, regulatory support and reimbursement, value-based healthcare. Major trends in the forecast period include advanced materials, sensor integration, osseointegration, user-centered design.
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Major competitors in the Orthopedic Prosthetics market are Otto Bock HealthCare GmbH, Blatchford Ltd., Zimmer Biomet Inc., DePuy Synthes, Stryker Corporation, WillowWood, Smith and Nephew PLC, Biomet Inc., Touch Bionics Inc., Fillauer Companies Inc., Advanced Arm Dynamics.
A key trend in the Orthopedic Prosthetics market includes emergence of 3D printed orthopedic prosthetics. 3D printing is a process that involves a digital model being transformed into a three-dimensional solid object. 3D printed orthopedic prosthetics are devices that are manufactured by the process of 3D printing. These devices have shorter lead times, lower costs and consistent quality. For instance, Zdravprint is a Russian company that is developing prosthetics for the hand, elbow, and shoulder using 3D printing technology.
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The Orthopedic Prosthetics market is segmented -
1) By Product Type: Upper Extremity Prosthetics, Lower Extremity Prosthetics, Sockets, Other Products
2) By Technology: Conventional orthopedic prosthetics, Electric-powered orthopedic prosthetics, Hybrid orthopedic prosthetics
3) By End Users: Hospitals, Prosthetic Clinics, Rehabilitation Center, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Orthopedic Prosthetics market.
The Business Research Company's "Global Orthopedic Prosthetics Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Orthopedic Prosthetics Market Include:
1. Executive Summary
2. Orthopedic Prosthetics Market Characteristics
3. Orthopedic Prosthetics Market Trends And Strategies
4. Orthopedic Prosthetics Market - Macro Economic Scenario
5. Global Orthopedic Prosthetics Market Size and Growth
……
31. Global Orthopedic Prosthetics Market Competitive Benchmarking
32. Global Orthopedic Prosthetics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Orthopedic Prosthetics Market
34. Orthopedic Prosthetics Market Future Outlook and Potential Analysis
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