Market Research

Orthopedic Prosthetic Devices Market Expected to Register CAGR of 5.2% during 2018-2027

The global orthopedic prosthetic devices market can be segmented on the basis of device type, technology, end-user and region. On the basis of the device type, it is sub-segmented into lower extremity prosthetics, upper extremity prosthetics, modular components, sockets and liners. The lower extremity prosthetics is anticipated to lead the device type segment during the forecast period. The rising awareness coupled with the technological development in the lower extremity prosthetics is anticipated to boost the growth of the sub-segment during the forecast period. On the basis of technology, it is sub-segmented into conventional, electric powered and hybrid orthopedic prosthetics. Electric powered is anticipated to lead technology segment during the forecast period. The growing inclination of the various key manufacturers towards developing electric powered devices as it can be obtained from renewable sources of energy is anticipated to be main factor for the growth of the sub-segment.  On the basis of end-user, it is sub-segmented into orthopedic clinics, hospitals and ambulatory surgical centers.

The global orthopedic prosthetic devices market is anticipated to expand at CAGR around 5.2% during 2018-2027. It is expected to reach around USD 3.1 billion market size by 2027. The increasing cases of the diabetic patients coupled with growing number of the aged population is anticipated to be the major factor driving the growth of the global orthopedic prosthetic devices market during the forecast period.

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By region, global Orthopedic Prosthetic Devices Market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to lead the global orthopedic prosthetic devices market during the forecast period. The rising disposable income in the region coupled with the increasing cases of the diabetes is anticipated be the major reason driving the growth of the global orthopedic prosthetic devices market in the region. Asia-Pacific region is expected to be the fastest developing region for the global orthopedic prosthetic devices market. The expansion in the healthcare infrastructure in the region coupled with strict government norms is anticipated to boost the growth of the global orthopedic prosthetic devices market in the region.

Increasing cases of the diabetes is anticipated to boost the growth of the global orthopedic prosthetic devices

The changing lifestyle coupled with the increasing the cases of the diabetes across the globe. There is rising incidence of the diabetes in low and middle income group. The middle income population are more prone to chronic diseases on the account of various socio-economic factors. Thus, the increasing cases of the diabetes is anticipated to foster the growth of the global orthopedic prosthetic devices market during the forecast period.

The report titled “Orthopedic Prosthetic Devices Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global orthopedic prosthetic devices in terms of market segmentation by device, by technology, by end-user and by region.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global orthopedic prosthetic devices which includes company profiling of key companies such as Zimmer Holdings, Inc., Touch Bionics Inc., Exactech, Inc., Stryker Corp., Otto Bock HealthCare GmbH, Smith and Nephew plc, Biomet Inc. and DePuy, Inc.. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global orthopedic prosthetic devices that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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