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3D Orthpedics/Prosthetics Global Market Report 2024 To 2033 | Johnson & Johnson Inc., Zimmer Biomet, Ottobock Inc., DJO Global Inc., Instalimb Inc., Open Bionics, Tangible Solutions Inc
3D Orthopedics/Prosthetics Market Share
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According to The Business Research Company's, 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 Drivers and Trends:
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.
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.
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Major Key Players of the Market:
Morgan Stanley, Bank of America Corporation, UBS Group AG, Wells Fargo & Company, JPMorgan Chase & Co., Citigroup Inc., HSBC Holdings plc, The Goldman Sachs Group, Inc., Credit Suisse Group AG, BNP Paribas, Kotak Wealth Management, IIFL Wealth Management, Axis Bank Wealth Management, Edelweiss Wealth Management, Angel Broking, Avendus, AUM Capital, KW Wealth Advisors, Noah Holdings, AVIC Trust, CreditEase, Fosun International Limited, China Huarong Asset Management Company Limited, China International Capital Corporation, Goldman Sachs, Macquarie Asset Management, Hamilton Wealth Management, Professional Wealth, Minchin Moore, GFM Wealth Advisory, VISIS Private Wealth, Samsung Asset Management, Asset One, Bank Central Asia, Dolfin, Brewin Dolphin, Canaccord Genuity Wealth Management, Kingswood Group, HSBC, Barclays Wealth Management, Lloyds Banking Group, Santander, AFH Wealth Management, Devonshire Wealth Management, Alexander House Financial Services, St James's Place Wealth Management, Quilter), Indosuez Wealth Management, Societe Generale, UniCredit, Intesa Sanpaolo, Deutsche Bank, Sparkassen, Commerzbank, ING-DiBa, Arcano Partners, BS Wealth Management, Sberbank, ATON, UBS, Wells Fargo, Vanguard, Charles Schwab, Fidelity, BNY Mellon Wealth Management, Northern Trust, Raymond James Financial, RBC Wealth Management, Bessemer Trust, Longview Wealth Management, Nicola Wealth, Steadyhand Investment management, Triasima Portfolio Management, WealthBar, Northwestern Mutual, Basham Ringe y correa s.c, Galicia abogadosare, Edward Jones, BTG Pactual, Monet Investimentos, Quilvest Wealth Management, Aiva, Credicorp, KPMG, Banco Safra, NBK Wealth Management, NOMW Capital, Middle East Financial Investment Company, Jadwa Investment, Arbah Capital, BMO Global Asset Management, AtaInvest, Akbank, Protiviti, Al Rajhi Capital, CI Capital, Griffon Capital, Pioneer Wealth Management, Investec Wealth Management, Rockfin Wealth Management, PSG Wealth, Citadel, Sanlam Private Wealth, Nedbank Wealth, Stone Wealth Management Noble Wealth Management (Pty) Ltd, NFB Private Wealth Management, NEXUS Investment Solution PLC, Brenthurst Wealth management, New Dawn Wealth Management, Alger
3D Orthpedics/Prosthetics Market 2024 Key Insights:
• 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%.
• Rise In Trauma Cases And Accidental Injuries Fuels Growth Of 3D Orthopedics/Prosthetics Market
• Integration Of Smart Wearables Revolutionizes The 3D Orthopedics/Prosthetics Market
• North America was the largest region in the 3D orthopedics/prosthetics market in 2023
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