Asia-Pacific Orthopedic Prosthetics Market – Industry Trends and Forecast to 2030

Asia-Pacific Orthopaedic Prosthetics Market Analysis and Size

The orthopedic prosthetics market is expected to witness market growth at a rate of 6.40% in the forecast period of 2023 to 2030. Data Bridge Market Research report on orthopedic prosthetics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the prevalence of road accidents is escalating the growth of Asia-Pacific orthopedic prosthetics market.

Data Bridge Market Research analyses that the Asia-Pacific orthopedic prosthetics market which was USD 2,100 million in 2022, is expected to reach USD 3,200 million by 2030, and is expected to undergo a CAGR of 6.40% during the forecast period of 2023 to 2030. “Spinal Orthotics” dominates the product type segment of the Asia-Pacific orthopedic prosthetics market owing to the growing demand for better implants, surgical methods and technologies. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Asia-Pacific Orthopaedic Prosthetics Market Scope and Segmentation

Market Definition

Orthopaedic prosthetics are medical devices that are designed to replace missing or damaged bones and joints, thereby restoring mobility and functionality to individuals with musculoskeletal injuries or conditions. The goal of orthopaedic prosthetics design is to create devices that are durable, functional, and flexible, while also being affordable and accessible to a wide range of applications based individual’s prosthetics requirements. An orthopaedic prosthetics is known to be an artificial limb intended to substitute a patient's mislaid flesh portion. The protocol shaped orthopaedic prosthetics needs a small weight and very large resistance combination.

Asia-Pacific Orthopaedic Prosthetics Market Dynamics

Drivers

• Rise in the geriatric population

The market is being pushed by an ageing population and rising rates of osteoarthritis and osteoporosis around the world. Furthermore, the increased medical tourism and technological improvements have played an important role in the global market's expansion. The Asia-Pacific orthopedic prosthetics market is being driven by factors such as an increase in the geriatric population, a high risk of osteoporosis and osteoarthritis, an increase in joint replacement and sports accidents around the world. Fractures and trauma cases are also expected to increase the orthopedic prosthetics market.

• Advancement of 3D printing technology

This has expanded a lot of attraction among medical device manufacturers for making patient-specific implants, prototypes, and biodegradable implants, among other things, propelling the industry forward. Technical advancements such as 3D printing and smart sensors, both of which have a high product penetration, are boosting market growth.

• Significant rise in the number of osteoporosis patients

In the coming years, advances in limiting side effects are projected to generate profitable prospects for the orthopedic business. For instance, Obesity and diabetes, have been linked to an increase in the incidence of degenerative joint disease, particularly among the elderly. As more young people engage in sports and fitness activities, the number of accidents associated with these activities rises. This has resulted in a rise in demand for orthopedic prosthetics all around the world.

Opportunities

• Increasing  automation with robotic surgery

In several areas, robotic surgery is becoming more popular. The use of automation in orthopedic implant technologies is allowing for new growth opportunities. Furthermore, the use of robots simplifies the process. Robots are capable of doing more successful surgery than human surgeons. It increases the robot adoption in the orthopedic prosthetic market. It is a necessary component that promotes rapid growth. Furthermore, the growing research and development is another factor that provides potential for the growth. The market's top regional companies are investing millions of dollars in orthopedic implants.

• Increase in the number of traumatic events 

The market's growth is fueled by the rising cases of traumatic events and road accidents. This will provide beneficial opportunities for the Asia-Pacific Orthopedic Prosthetics market growth.

• Innovative Strategic Developments and Launches

The major market players are adopting new product launches, collaborations, and partnerships to maintain a competitive edge. High investments in electric powered technologies extend profitable opportunities to the market players in the future. Thus, this factor boosts market growth.

Restraint/Challenge

• High cost of Orthopedic Prosthetics

The high costs of prosthetics will impede the orthopedic prosthetics market growth rate. However, the orthopedic prosthetics market's growth may be hampered by tight government standards for approval of orthopedic prosthetics, the high cost of treatments including orthopedic prosthetics and implant therapy.Screws are crucial for the stability of most screw-plate fixation devices, and they are frequently associated with failure owing to pull-out caused by poor screw purchase or bone loss. Plates provide anatomic fracture reduction with open procedures stability for early muscle-tendon unit and joint function, but they must be safeguarded from premature weight-bearing. The possibility of bone refracture following plate removal, stress protection, osteoporosis beneath a plate, plate irritation, and, in rare circumstances, an immunologic reaction are all disadvantages of plate fixation.

The Asia-Pacific orthopedic prosthetics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Asia-Pacific orthopedic prosthetics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In June 2020, REJOINT announced the launch of therapy personalization and mass customization by combining artificial intelligence with additive manufacturing technology using GE Additive Arcam's Electron Beam Melting (EBM) technology and computerized analysis of postoperative and intraoperative data. REJOINT will use these IoT-connected sensorized wearables to construct individualized medical devices in the form of knee implants
• In Jan 2020, Essentium, Inc. and Vorum agreed to collaborate on a 3D printing solution that combines the former's HSE (High-Speed Extrusion) 3D printing technology with the latter's SurePath methodology and CAD/CAM solutions to deliver customized prosthetic devices at a proper scale and speed
• In Oct 2019, Precision Valve & Automation purchased Create Orthotics & Prostheses, a 3D printing start-up, to make prosthetics more comfortable and affordable for persons with disabilities

Asia-Pacific Orthopedic Prosthetics Market Scope

The Asia-Pacific orthopedic prosthetics market is segmented on the basis of product type, technology, application, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Spinal Orthotics
• Sockets
• Modular Components
• Liners
• Braces
• Lower Extremity Prosthetics
• Upper Extremity Prosthetics

 Technology

• Manual Prosthetics
• Hybrid Orthopedic Prosthetics
• Electric Powered
• Conventional​​​​​​​

Application

• Disabled Children
• Disabled Adult

End User

• Trauma Centers
• Rehabilitation Center
• Prosthetic Clinics
• Outpatient Centre
• Orthopedic Clinics
• Hospitals
• Others

Asia-Pacific Orthopedic Prosthetics Market Regional Analysis/Insights

The Asia-Pacific orthopedic prosthetics market is analysed and market size insights and trends are provided by country, product type, application, technology, and end user as referenced above.

The countries covered in the Asia-Pacific orthopedic prosthetics market report are Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)

Japan dominates the Asia-Pacific orthopedic prosthetics market because of the improving healthcare facilities, strong presence of major players in the market, the extraordinary healthcare infrastructure and large population pool.   

China is expected to witness significant growth during the forecast period of 2023 to 2030 due to the rising implants and surgery awareness among the people and growing demand of advanced medical technology, large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The Asia-Pacific orthopedic prosthetics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Asia-Pacific orthopedic prosthetics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Asia-Pacific orthopedic prosthetics market.

Competitive Landscape and Asia-Pacific Orthopedic Prosthetics Market Share Analysis

The Asia-Pacific orthopedic prosthetics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Asia-Pacific  orthopedic prosthetics market.

Some of the major players operating in the Asia-Pacific orthopedic prosthetics market are:

• Zimmer Biomet (U.S)
• Ottobock (Germany)
• Johnson & Johnson Services, Inc. (U.S)
• Smith + Nephew (U.K.)
• Stryker Corporation (U.S)
• Blatchford Limited.(U.K.)
• OTTO GROUP (Germany)
• Össur (Iceland)
• Abbott (U.S)
• Abiomed Medtronic (U.S)
• Teleflex Incorporated (U.S)
• SynCardia Systems (U.S)
• Fresenius Medical Care AG & Co. KGaA (Germany)
• Getinge (Sweden)

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