The Orthopaedic prosthetics Market have revolutionised medical technology, restoring movement and independence to those who have lost or been rendered limbless. These incredible devices are designed to look and function almost exactly like human limbs, enabling users to resume their daily activities with ease and confidence.
Orthopaedic prostheses are custom-made for every patient to meet their unique needs, taking into account the level of amputation, the shape of the residual limb, and the functional requirements. Using cutting-edge materials and cutting-edge technology, these elaborately crafted devices—which could be a prosthetic limb, arm, hand, or even a sophisticated joint replacement—are created. Myoelectric prostheses, which use impulses from the user’s muscles to regulate movement, are one of the most ground-breaking recent advancements in orthopaedic prosthetics. These devices’ wider range of motion and more lifelike appearance enable users to precisely carry out difficult tasks.
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The market for orthopaedic prosthetics is expected to reach a value of about US$ 2.33 billion in 2022. The market for orthopaedic prosthesis is projected to reach US$ 3.62 billion USD by 2032. The market for orthopaedic prosthetics is predicted to grow at a CAGR of 4.5% from 2022 to 2032. In addition to increased mobility, orthopaedic prosthetics have various other benefits. They are crucial for improving psychological health since they make people feel confident and normal again. Due to their immaculate body integration, these prostheses remove barriers to participation in a wide range of social activities, employment, and sports.
As was already mentioned, digitization also makes it simpler to trace products, which makes customising them easier. Furthermore, because 3D imaging enables patients to visualise the placement of their replacement limbs beforehand, patients are better equipped to select the implant options they want. Although North America and Europe continue to generate the majority of income, opportunities in Asia Pacific are growing. Healthcare spending as a percentage of GDP is about to increase in countries like Saudi Arabia, China, Thailand, and India. Since Asia Pacific is where most diabetic patients dwell, the orthopaedic prosthetics market is expected to catch up in this region. On the other side, the consistency seen in North America and Europe may be due to the rise in limb-related peripheral vascular diseases and sports-related injuries.
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According to the following criteria: product (upper extremity prosthetics, lower extremity prosthetics, sockets, liners, and modular components), technology (conventional, hybrid orthopaedic prosthetics, and electric powered orthopaedic prosthetics), and end user, Future Market Insights’ most recent report, “Orthopaedic Prosthetics Market,” provides opinions on the market’s development from 2014 to 2018 as well as demand projections for the years 2020 to 2030.
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Key Players in Orthopaedic Prosthetics Market:
- Exatech Inc.
- Howard Orthopaedics Inc.
- Hanger Inc.
- Wishbone Medical
- Pega Medical
- OrthoPediatrics
- Arthrex
- Touch Bionics Inc.
- Advanced Arm Dynamics
- Medtronic Spinal
- Integra Lifesciences
- Globus Medical
- DJO Global
The global orthopaedic prosthetics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Product
- Upper Extremity Prosthetics
- Hand Prosthetics
- Elbow Prosthetics
- Shoulder Prosthetics
- Lower Extremity Prosthetics
- Foot & Ankle Prosthetics
- Knee Prosthetics
- Hip Prosthetics
- Liners
- Sockets
- Modular Components
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Technology
- Conventional
- Electric Powered
- Hybrid Orthopaedic Prosthetics
End User
- Hospitals
- Prosthetic Clinics
- Rehabilitation Center
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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