Press release
3D Orthpedics/Prosthetics Market is Expected to grow to $1.38 billion in 2028 at a CAGR of 7.4% within the Forecast Period 2024-2033
3D Orthpedics/Prosthetics Market Report
The Business Research Company offers in-depth market insights through 3D Orthpedics/Prosthetics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The 3d orthpedics/prosthetics market size has grown strongly in recent years. It will grow from $0.97 billion in 2023 to $1.04 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to increased disability rates, increased demand for orthopedic medical devices, increased joint replacement surgical procedures, advancement in technology, a rise in healthcare expenditure and emerging markets growth.
The 3d orthpedics/prosthetics market size is expected to see strong growth in the next few years. It will grow to $1.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rising geriatric population, rising number of diabetes-related amputations, rising incidences of road accidents and sports injuries and an increase in demand for joint reconstruction disorders. Major trends in the forecast period include adopting smart wearables to precisely control the prosthesis, focusing on eco-friendly alternatives, using artificial intelligence to compare a patient's unique anatomy, using internet-of-things (iot) enabled solutions to help monitor and collect data for surgery, customizing implants according to a patient's problem using novel biomaterials, developing technologies to for improved outcomes and efficiency, partnering with companies to expand their market and leverage each other's resources and investing in the companies to develop advanced products.
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Market Segmentation:
The 3d orthpedics/prosthetics market covered in this report is segmented -
1) By Product Type: Upper Extremity Orthopedic & Prosthetics, Lower Extremity Orthopedic & Prosthetics, Other Product Type
2) By Technology: Conventional, Electric-powered, Hybrid
3) By End User: Hospitals, Orthopedic And Prosthetic Centers, Rehabilitation Center, Other End-Users
Major Driver - Rise In Trauma Cases And Accidental Injuries Fuels Growth Of 3D Orthopedics/Prosthetics Market
The increase in number of trauma cases and accidental injuries is contributing to the growth of the 3D orthopedics/prosthetics market. The use of artificial limbs (prostheses) to improve the function and lifestyle of people who have lost limbs is known as orthopedic prosthetics. To match the functional needs of the individual, the prosthesis must be a unique mixture of appropriate alignment, construction, materials, and design. For instance, according to Hanger, Inc., a US-based company that provides prosthetic and orthotic care devices, in April 2021, the number of Americans living with the loss of a limb due to trauma cases and accidental injuries is more than 2 million, and by the year 2050, a staggering 3.6 million people will be living with limb loss in the USA. Therefore, the increasing number of trauma cases and accidental injuries drives the market for 3D orthopedics/ prosthetics.
Competitive Landscape:
Major companies operating in the 3d orthpedics/prosthetics market report are Johnson & Johnson Inc., Zimmer Biomet, Ottobock Inc., DJO Global Inc., Instalimb Inc., Open Bionics, Tangible Solutions Inc., Allegra Orthopedics, DePuy Synthes, Tornier Inc., Corin Group Plc., Covidien plc, PolyNovo Limited, Exactech Inc., United Orthopedic Corporation, Aesculap Implant Systems Victrex, Evonik, Exactech, Stryker Corporation, Allegra Orthopedics, Lepu Medical Technology Company (Beijing) Co. Ltd, Yuwell - Jiangsu Yuyue Medical Equipment & Supply Co. Ltd, Shanghai Runda Medical Technology Co. Ltd., GE Healthcare China Co. Ltd., Beznoska Company Ltd, Sanatmetal Ltd, Medin a.s., Globus Medical Inc., Collagen Matrix Inc., NEOORTHO, Manoel Amaral Baumer, Biomecânica, ORTOBIO, Smith & Nephew, Ortosintese, IMPOL Próteses Ortopédicas, Wright Medical, B. Braun, Meril Life, Shalina Healthcare, Elixir Medical Equipment LLC, Matrix Medical, Gulf Medical Co, Almarfa Medical, Lithotech Medical, 3D Systems, Global Medical, Medtronic Africa, EgiFix Medical
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Top Trend - Integration Of Smart Wearables Revolutionizes The 3D Orthopedics/Prosthetics Market
Smart wearables are gaining traction in the 3D orthopedics/prosthetics market. Smart wearables use robotics and artificial intelligence to precisely control the prosthesis by allowing the algorithm to understand electric nerve signals from the patient's muscles. For instance, in February 2022, Esper Bionics, a New York-based engineering startup, constructed a prosthetic arm with intuitive self-learning technology that outperforms comparable prosthetics in its ability to predict intended movement. Esper Hand controls movement via a brain-computer interface (BCI) based on electromyography, a method of computer-based technology that collects brain activity or information. The brain of the wearer sends signals to particular muscles to activate them when they desire to operate the prosthetic.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. 3D Orthpedics/Prosthetics Market Characteristics
3. 3D Orthpedics/Prosthetics Market Trends And Strategies
4. 3D Orthpedics/Prosthetics Market - Macro Economic Scenario
5. 3D Orthpedics/Prosthetics Market Size And Growth
…..
27. 3D Orthpedics/Prosthetics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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