Orthopedic Prosthetics Market Growth Analysis With Investment Opportunities For 2024-2033
Orthopedic Prosthetics Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Orthopedic Prosthetics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, September 3, 2024 /EINPresswire.com/ -- The orthopedic prosthetics market1 has experienced robust growth in recent years, expanding from $1.96 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to aging population, trauma and injuries, chronic conditions, rehabilitation and physical therapy.
Strong Future Growth Anticipated
The orthopedic prosthetics market is projected to continue its strong growth, reaching $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to emerging markets growth, personalized prosthetic solutions, regulatory support and reimbursement, value-based healthcare.
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Growth Driver Of The Orthopedic Prosthetics Market
The growing prevalence of orthopedic diseases is expected to propel the growth of the robotic prosthetics market going forward. Orthopedic diseases refer to conditions and disorders that affect the musculoskeletal system, which includes the muscles, bones, nerves, and joints. Prosthetics have a range of essential applications in orthopedics, focusing on treating and correcting musculoskeletal disorders and injuries by limb replacement, gait rehabilitation, and enhanced precision in orthopedic surgical processes.
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Major Players And Market Trends
Key players in the orthopedic prosthetics market include Otto Bock HealthCare GmbH, Blatchford Ltd., Zimmer Biomet Inc., DePuy Synthes, Stryker Corporation, WillowWood, Smith and Nephew PLC.
Major companies operating in the orthopedic prosthetics market are focusing on advanced product launches, such as sports prosthetics, to provide athletes with prosthetic feet that are specifically designed for their athletic applications. A sports prosthetic is a specialized prosthetic designed to meet the unique needs and demands of athletes and individuals engaged in sports and physical activities.
Segments:
1) By Product Type: Upper Extremity Prosthetics, Lower Extremity Prosthetics, Sockets, Other Products
2) By Technology: Conventional orthopedic prosthetics, Electric-powered orthopedic prosthetics, Hybrid orthopedic prosthetics
3) By End Users: Hospitals, Prosthetic Clinics, Rehabilitation Center, Other End Users
Geographical Insights: North America Leading The Market
North America was the largest region in the global orthopedic prosthetics market in 2023. Western Europe was the second-largest region in the orthopedic prosthetics market. The regions covered in the orthopedic prosthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Orthopedic Prosthetics Market Definition2
Orthopedic prosthetics are artificial devices that replace a missing body part that may be lost through trauma, disease, surgical removal of body appendage, disabling illness, or congenital conditions.
Orthopedic Prosthetics Global Market3 Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Orthopedic Prosthetics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on orthopedic prosthetics market size, orthopedic prosthetics market drivers and trends, orthopedic prosthetics market major players, orthopedic prosthetics competitors' revenues, orthopedic prosthetics market positioning, and orthopedic prosthetics market growth across geographies. The orthopedic prosthetics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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