The orthopaedic prosthetics industry is poised for remarkable growth, as recent projections estimate its value to hit approximately US$ 2.33 billion in 2022, with expectations to skyrocket to a staggering US$ 3.62 billion by 2032. This upward trajectory represents a compelling Compound Annual Growth Rate (CAGR) of 4.5% from 2022 to 2032.
Orthopaedic prosthetics are not just transforming mobility; they are revolutionizing lives. Beyond their fundamental role in enhancing physical movement, these prostheses play a pivotal role in restoring confidence and psychological well-being for individuals. By seamlessly integrating with the body, they eliminate barriers to social engagement, employment opportunities, and active participation in sports, underscoring their multifaceted benefits.
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“Our data reveals a significant upward trend in the orthopaedic prosthetics market, driven not only by technological advancements but also by the profound impact these devices have on individuals’ lives,” said Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “The projected growth underscores the increasing recognition of orthopaedic prosthetics as more than just mobility aids, but as tools that empower individuals to reclaim their sense of normalcy and actively engage in diverse aspects of life.”
This surge in demand for orthopaedic prosthetics aligns with a broader societal shift towards inclusivity, where individuals seek not only physical rehabilitation but also emotional and social reintegration post-injury or surgery. The seamless integration of these prostheses enables users to regain a sense of self-assurance and lead fulfilling lives, transcending limitations previously imposed by conventional prosthetic devices.
The forecasted growth in the orthopaedic prosthetics industry speaks volumes about the crucial role these innovations play in fostering holistic well-being. As technology continues to advance and accessibility increases, the industry is primed to witness an era of unprecedented possibilities, empowering individuals to thrive beyond physical constraints.
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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.
Orthopaedic Prosthetics Market Segmentation:
Product
- Upper Extremity Prosthetics
- Hand Prosthetics
- Elbow Prosthetics
- Shoulder Prosthetics
- Lower Extremity Prosthetics
- Foot & Ankle Prosthetics
- Knee Prosthetics
- Hip Prosthetics
- Liners
- Sockets
- Modular Components
Technology
- Conventional
- Electric Powered
- Hybrid Orthopaedic Prosthetics
End User
- Hospitals
- Prosthetic Clinics
- Rehabilitation Center
- Others
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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