Market Research Logo

Gobal Orthopedic Prosthetics Market - Segmented by Product, Technology, End-user, and Geography - Growth, Trends, and Forecast (2018 - 2023)

Gobal Orthopedic Prosthetics Market - Segmented by Product, Technology, End-user, and Geography - Growth, Trends, and Forecast (2018 - 2023)

The global orthopedic prosthetics market is expected to register a good CAGR during the forecast period, 2018 to 2023. Orthopedic Prosthetics is a field concerned with the identification, designing and manufacturing of custom-made artificial limbs in a patient. The devices should be of high strength and low weight. Hence, materials, such as thermoplastics, metals, carbon fiber, EVA (Ethylene-vinyl acetate), or combination of these are commonly used for production. These devices are used to replace a damaged or missing body part caused by trauma, disease, or other medical conditions. In the recent years, the market for orthopedic prosthetics has witnessed significant developments in designing and production technologies. The products have an increased level of comfort, usability and increased resistance to wear and tear. The vast advances in the CAD/CAM technology and material science have helped in the growth of the market.

Increasing Number of Trauma Cases

According to US Department of Health and Human Services, around 8.6 million sports and recreation injuries were reported in 2016. Out of these, 72% were injuries related to lower and upper extremities. The injuries are increasing at a rapid rate and are a major factor for the growth of the orthopedic prosthetics market. Other drivers for this market include the rapid technological developments in prosthetic devices, increasing usage of customized prosthetic devices and increasing osteosarcoma cases.

High Cost of Prosthetic Devices

According to the Bioengineering Institute Center for Neuroprosthetics, at the Worcester Polytechnic Institute, a basic below-the-knee prosthetic that would allow a patient to walk on flat ground costs $5,000-$7,000, while the advanced ones can cost up to $20,000 or more. The high cost of the devices and lack of reimbursement policies are considered as the major restraining factors for the orthopedic prosthetics market. The other factor such regulatory requirements is also hindering the growth of the orthopedic prosthetics market.

US Lead the Market in North America Region

The US orthopedic prosthetics market holds the largest market share in 2017 in North America region due to the presence of high quality healthcare system and presence of large number of trauma cases. In the APAC sector, China and South Korea have been identified as potential emerging markets.

Key Developments in the Market:

  • February 2018 - Stryker has completed the acquisition of Entellus Medical

Reasons to Purchase this Report
  • Current and future orthopedic prosthetics market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support along with the Market Estimate sheet ((in Excel).
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.

1. Introduction
1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Increasing Number of Trauma Cases
6.1.2 Rapid Technological Developments in Prosthetic Devices
6.1.3 Rise in the Usage of Customized Prosthetic Devices
6.1.4 Increasing Osteosarcoma Cases
6.2 Market Restraints
6.2.1 Reimbursement Policies
6.2.2 Regulatory Requirements
6.2.3 High Cost of Prosthetic Devices
6.3 Opportunities
6.4 Key Challenges
7. Market Segmentation
7.1 By Product
7.1.1 Upper Extremity Prosthetics
7.1.2 Lower Extremity Prosthetics
7.1.3 Sockets
7.1.4 Others
7.2 By Technology
7.2.1 Conventional
7.2.2 Electric-Powered
7.2.3 Hybrid Orthopaedic Prosthetics
7.3 By End-user
7.3.1 Hospitals
7.3.2 Prosthetic Centers
7.3.3 Others
7.4 By Geography
7.4.1 North America United States Canada Mexico
7.4.2 Europe France Germany United Kingdom Italy Spain Rest of Europe
7.4.3 Asia-Pacific China Japan India Australia & New Zealand South Korea Rest of Asia-Pacific
7.4.4 Middle East & Africa GCC South Africa Rest of the Middle East & Africa
7.4.5 South America Brazil Argentina Rest of South America
8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.1 Biomet Inc.
9.2 Blatchford Ltd.
9.3 Bock Healthcare Gmbh
9.4 Depuy, Inc.
9.5 Fillauer Llc.
9.6 Ohio Willow Wood Co.
9.7 Touch Bionics Inc.
9.8 Smith And Nephew Plc
9.9 Stryker Corporation
*List Not Exhaustive
10. Future of the Market

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report