ORTHOPEDIC PROSTHETICS MARKET ANALYSIS BY SMITH AND NEPHEW, TOUCH BIONICS INC, ZIMMER BOIMET HOLDINGS INC., STRYKER CORP
Global Orthopedic Prosthetics Market By Product Type (Upper Extremity Prosthetics (Hand Prosthetics, Elbow Prosthetics, Shoulder Prosthetics), Lower Extremity Prosthetics (Foot & Ankle Prosthetics, Knee Prosthetics, Hip Prosthetics), Liners, Sockets, Modular Components); Technology (Manual Prosthetics, Electric Powered Prosthetics, Hybrid Prosthetics); End User (Hospitals, Clinics, Rehabilitation Centers, and Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
Global Orthopedic Prosthetics Market is expected to rise from its initial estimated value of USD 2.11 billion is 2018 to an estimated value of USD 3.24 billion by 2026, registering a CAGR of 5.5% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing number of amputations leading to use of orthopedic prosthetic devices.
Few of the major competitors currently working in the orthopedic prosthetics market are Blatchford Group (UK), Touch Bionics Inc. (US), The Ohio Willow Wood Co. (US), Össur (Iceland), Ottobock (Germany), Fillauer LLC. (US), Advanced Arm Dynamics, inc. (US) Smith and Nephew (UK), Touch Bionics Inc (US)., Zimmer Boimet Holdings Inc. (US), Stryker Corp (US) DePuy Synthes (US). Blatchford Ortopedi AS (Norway), Exactech, Inc (US) Globus Medical Inc, (US), RTI Surgical Inc (US), Wright Medical Group N.V.,(US), Johnson & Johnson Services, Inc. (US), Arthrex Inc,(US), AlloSource (US) and others.
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Key Developments in the Market:
- In April 2019, Scheck & Siress announces the acquisition of Ballert Orthopedic. Ballert Orthopedic has89-years history as a leader in orthotics and prosthetics. This will enhance Scheck’s ability to deliver best-in-class, convenient O&P care throughout the Chicago area.
- In March 2019, Exactech acquires XpandOrtho. XpandOrtho is a designer of soft tissue balancing instruments for knee replacement surgery. Focus of this acquisition is to support Exactech’s growth strategy and commitment to improving surgeon experience and patient outcomes.
Competitive Analysis: Global Orthopedic prosthetics Market
Global orthopedic prosthetics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of orthopedic prosthetics market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Definition: Global Orthopedic prosthetics Market
Orthopedic Prosthetics is an artificial replacement or substitute of bones in different parts of the body. The typical orthopedic prosthetic devices are for hip, knee, elbow, ankle, leg among others.
According to Stanford Children’s Health, there were an estimated 3.5 million sports injuries occurred, this significant number is expected to act as a driver to the market growth.
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- There is rise in number of amputations leading to use of orthopedic prosthetic devices is also expected to act as a driver to the market growth
- Technological advancement in developing prosthetic devices is driving the market.
- High amount of costing of these equipment is expected to act as a restraint to the market growth
Segmentation: Global Orthopedic prosthetics Market
By Product Type
- Upper Extremity Prosthetics
- Hand Prosthetics
- Elbow Prosthetics
- Shoulder Prosthetics
- Lower Extremity Prosthetics
- Foot & Ankle Prosthetics
- Knee Prosthetics
- Hip Prosthetics
- Modular Components
- Manual Prosthetics
- Electric Powered Prosthetics
- Hybrid Prosthetics
By End User
- Rehabilitation Centers
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Reasons to Purchase this Report
- Current and future of global orthopedic prosthetics market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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