+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free

Orthopedic Orthotics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Pre Book Price: $ 5216

Original Price: $ 5795

Orthopedic Orthotics Market: Overview

Orthotics is a medical field that deals with designing and construction of orthoses which is an external support to modify, control or immobilize movement. Orthoses assist in correction of muscle and joint by restriction and alignment of bones. Orthopedic orthoses are prescribed in case of deformity due to accidents, trauma, osteoarthritis, birth defects or sports injury. Orthoses can be prefabricated or customized for appropriate fitting. Orthoses devices are usually made from plastic or graphite as they offer appropriate flexibility while restricting abnormal movement. Neoprene is also used widely in soft braces and provides comfort and easy application to the patient. 

For minor deformities and injuries especially during sports and injury, soft braces and usually recommended. Orthopedic orthoses are available for various anatomies such as wrist, hand, elbow, spine, knee, ankle, and foot.

Orthopedic Orthotics Market: Growth Enablers

Technological advances such as computer assisted design (CAD) and 3D printing have increased trend for personalized orthoses. Being customized these devices deliver better results as compared to pre-fabricated, as these devices may not provide proper immobilization. With changing customer preferences due to increasing disposable income, and awareness of available medical services, the market for customized orthoses is increasing rapidly. Increasing trend for physical fitness in baby boomers has increased hospital visits for muscle pain and other skeletal muscular problems.

Sports activities in school also have given rise to injuries among teenagers. According to a survey conducted by Safe Kids Worldwide in 2013, common sports related injuries among teenagers include ankle which accounts for 15% of the injuries, while head and fingers account for 14% and 12% respectively. The report also details that girls are almost 8 times more susceptible to anterior cruciate ligament (ACL) injury as compared to boys. Ligament injuries are most in sports where quick and extreme movements are required such as basketball, soccer, and tennis; while fractures are common in extreme sports. Incidences of Achilles tendon rupture, tennis elbow, and micro fractures are also common in sports.

These increased incidences in sports injuries contribute majorly to the orthopedic orthoses market. International Osteoporosis Foundation suggests that over 200 million individuals globally suffer from osteoporosis. In another data published by Osteoporosis Canada, more than 80% of all fractures in people above 50 years of age are caused by osteoporosis. Thus increased prevalence of osteoporosis is also adding to patient pool for application of orthopedic orthoses. Although aforementioned factors are expected to drive the market lower reimbursement rates are restricting the market growth.

Orthopedic Orthotics Market: Region-wise Insight

North America leads the orthopedic orthotics market owing to the early market initiation and high cost of devices. The market in Asia Pacific region although accounts for a smaller share, is expected to grow at a faster rate as compared to North America and Europe, where India, China and Japan are the major contributors. Major reason are India and China having the highest population densities in the world, while Japan being the second largest medical devices market next to the U.S.. Developing economies and acceptance of latest technology has boosted the market growth in these countries. Higher incidences of road accidents in India will contribute majorly to the orthopedic orthotics market.

Orthopedic Orthotics Market: Key Players

Some of the major players in the orthopedic orthotics market include DJO Global, Ossur, Fillauer, Breg, Thuasne Basko Healthcare, and Allard International. Various local players also exist which provide customized orthopedic orthoses using CAD and 3D printing technologies.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

The study is a source of reliable data on:

  • Key market segments and sub-segments
  • Evolving market trends and dynamics
  • Changing supply and demand scenarios
  • Quantifying market opportunities through market sizing and market forecasting
  • Tracking current trends/opportunities/challenges
  • Competitive insights
  • Opportunity mapping in terms of technological break throughs

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa)

TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.

TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place.  All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.


To receive discount, please click on the button below.

Please click on the button below to customize this report.

 
 
Back To Top