Orthopaedic Prosthetics Market Heading Towards Connected Future
Future Market Insights’ new report examines how the technological advancements and greater emphasis on value-added care will shape the future of prosthetics. In 2018, the orthopaedic prosthetics market was valued at US$ 1.8 Bn, which will attain moderate 4% yearly growth in 2019.
Today’s sophisticated prostheses go far beyond replicating the general contours of a missing limb or a body part. In recent years, convergence of healthcare applications with state-of-the-art technologies has triggered advances in the field of orthopaedics and prosthetics. With connected technologies on the horizon, new surgical techniques, and more customized approaches, the field of orthopaedic prosthetics is set to evolve significantly.
FREQUENTLY ASKED QUESTIONS ABOUT Orthopaedic Prosthetics Market
How the Orthopaedic Prosthetics market is expected to grow in forecast period?
The market will grow moderately over the forecast period owing to technological advancements and greater emphasis on value-added care
Which key product will impact the market growth?
Amongst various products, growing demand for Lower Extremity Prosthetic products for treating medical conditions such as diabetes will have the highest impact in the Orthopaedic Prosthetics market
Which key countries will contribute majorly in revenue generation?
North America is anticipated to contribute majorly in revenue generation
Who are the Top 3-5 companies dominating the market?
Ossur, Johnson & Johnson, Smith & Nephew plc and B. Braun Melsungen AG are the key companies that dominate the market
Demand for Lower Extremity Prosthetics on Significant Rise
Accounting for over 60% of total revenue share, lower extremity prosthetics continue to influence growth strategies of market players. Increasing prevalence of medical conditions such as diabetes increases the risk of development of severe symptoms in lower part of the body. Moreover, several feet- and ankle-related disorders require surgical interventions. This, in turn, contributes to a notable increase in the demand for lower extremity prosthetics. Upper limb prosthetics are also garnering significant traction, on the account of growing number of sports injuries and road accidents.
North America’s Market to Cross US$ 1 Bn Mark by 2026
North America continues to offer lucrative opportunity to market players, banking on more advanced healthcare settings. The North American market for orthopaedic prosthetics is set to surpass US$ 1 Bn mark by 2026, attracting huge attention from stakeholders. Market consolidation in developing countries in Asia Pacific also remains a key to gaining distinct competitive edge, given consideration to rising per capita healthcare expenditure and several government initiatives for integrated healthcare systems in the region.
* This data is only a representation. Actual data may vary and will be available in report.
Advanced Technologies to Bridge Gap between Orthopaedic Prosthetics and Human Body Parts
Connected technologies such as Artificial Intelligence in healthcare, virtual reality (VR), and Internet of Things (IoT) have been enabling researchers and manufacturers to fabricate orthopaedic prosthesis that can approximate the dexterity of human body parts. An embrace of R&D on technology for decoding neuromuscular signals and microprocessor controlled prosthetic is underway to allow prosthetic limbs to work much more like natural limbs. Apart from cutting edge technologies paving the way for the next-generation of orthopaedic prosthetics, advances in surgery are taking the field to a new level. With cloud swirling around robotic surgeries and emergence of rotationplasty, key players in the orthopaedic prosthetics are expected to witness a period of robust development and sustained demand.
Lower extremity prosthetics remain top selling category
Surging adoption of upper extremity prosthetics
High demand for electric-powered prosthetics
Conventional prosthetics to witness slow adoption
Prosthetic clinics take the lead
Adoption by rehabilitation center increases significantly
How Growth will Unfold
Demand for orthopaedic prosthetics is currently based on increasing incidence of accidental injuries and amputations in line with introduction of customized implant products. Electric powered prosthetics continue to witness innovations and investments as compared to their conventional and hybrid counterparts. Orthopaedic prosthetics worth of around US$ 855 Mn implanted on patients across the globe in 2018 were electrically powered, and the number is set to increase over the next decade. While better functional outcome continues to influence the demand for hybrid orthopaedic prosthetics, conventional variants will lose their revenue share in the near future.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Orthopaedic Prosthetics Market Analysis 2019 - 2029
A recent market study published by Future Market Insights on the orthopaedic prosthetics market includes global industry analysis for 2014 - 2018 & opportunity assessment for 2019 - 2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters of the orthopaedic prosthetics market, the growth prospects of the market are obtained with maximum precision.
Orthopaedic Prosthetics Markets Taxonomy
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.
- Upper Extremity Prosthetics
- Hand Prosthetics
- Elbow Prosthetics
- Shoulder Prosthetics
- Lower Extremity Prosthetics
- Foot & Ankle Prosthetics
- Knee Prosthetics
- Hip Prosthetics
- Modular Components
- Electric Powered
- Hybrid Orthopaedic Prosthetics
- Prosthetic Clinics
- Rehabilitation Center
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
The report initiates with the executive summary of the orthopaedic prosthetics market, which includes a summary of key findings and statistics of the market. It also includes drivers and trends pertaining to the orthopaedic prosthetics market.
Readers can find the definition and a detailed segmentation of the orthopaedic prosthetics market in this chapter, which will help them understand the basic information about the orthopaedic prosthetics market. Along with this, comprehensive information pertaining to orthopaedic prosthetics and their properties are provided in this section. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the orthopaedic prosthetics market report.
This section gives information about drivers, and restraints of the orthopaedic prosthetics market. This section also includes various opportunities and key trends of the orthopaedic prosthetics market.
This section gives information about upcoming pipeline products, PEST analysis, Porter’s Five Forces Model, and regulatory scenario of the orthopaedic prosthetics market.
This section explains the global market value analysis and forecast for the orthopaedic prosthetics market during the forecast periods of 2019-2029. This chapter includes a detailed analysis of the historical orthopaedic prosthetics market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).
Based on product, the orthopaedic prosthetics market is broadly segmented into upper extremity prosthetics, lower extremity prosthetics, liners, sockets and modular components. In this chapter, readers can find information about the key trends and developments in the orthopaedic prosthetics market and market attractiveness analysis based on product.
Based on technology, the orthopaedic prosthetics market is segmented into conventional, electric powered, and hybrid orthopaedic prosthetics. In this chapter, readers can understand the market attractive analysis based on technology.
This chapter provides details about the orthopaedic prosthetics market based on the end user, and has been classified into hospitals, prosthetic clinics, rehabilitation center and others. In this chapter, readers can understand the market attractive analysis based on the end user.
This chapter explains how the orthopaedic prosthetics market will grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America orthopaedic prosthetics market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the regional trends, and market growth based on the product, technology, end user, and countries in North America.
This chapter provides the growth scenario of the orthopaedic prosthetics market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Important growth prospects of the orthopaedic prosthetics market based on its end users in several countries such as the U.K., France, Germany, Spain, Italy, Nordics, Benelux and the Rest of Western Europe are included in this chapter.
Important growth prospects of the orthopaedic prosthetics market based on its end users in several countries such as Russia, Poland and the Rest of Eastern Europe are included in this chapter.
In this chapter, China, India, Australia and New Zealand, ASEAN and Rest of Asia Pacific countries are the prominent countries in the Asia Pacific excluding Japan region that are the prime subjects of assessment to obtain the growth prospects of the APEJ orthopaedic prosthetics market. Readers can find detailed information about the growth parameters of the APEJ orthopaedic prosthetics market during the forecast period of 2019-2029.
This section highlights the growth prospects of the orthopaedic prosthetics market for Japan, during the forecast period of 2019-2029.
This chapter provides information about how the orthopaedic prosthetics market will grow in major countries in the MEA region such as GCC Countries, South Africa, and the Rest of MEA, during the forecast period of 2019-2029.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the orthopaedic prosthetics market, along with a detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Zimmer Biomet Holdings Inc., Ossur, Hanger Inc., Johnson & Johnson, Smith & Nephew plc, Otto Bock Healthcare GmbH, WillowWood Global LLC., Blatchford Limited, B. Braun Melsungen AG and Fillauer LLC.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the orthopaedic prosthetics market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the orthopaedic prosthetics market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Raw Material Suppliers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Yesteryear Trends
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity of Assumptions
- Industry Publications
- Journal of Prosthetics and Orthotics
- Prosthetics and Orthotics International
- Journal of Neural Engineering
- Industry Associations
- American Orthotic & Prosthetic Association Administration
- The Association of Bone and Joint Surgeons
- International Society for Prosthetics and Orthotics
- National Association for the Advancement of Orthotics and Prosthetics
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits
Orthopaedic Prosthetics Markets Reports - Table of Contents
18. Assumptions and Acronyms Used
19. Research Methodology