Europe Orthopedic Prosthetics Market, By 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, Other End Users) - Industry Trends and Forecast to 2030.
Europe Orthopedic Prosthetics Market Analysis and Size
An orthopedic prosthesis is known to be an artificial limb intended to substitute a patient's mislaid flesh portion. The protocol shaped orthopedic prosthetics need a small weight and huge resistance combination. The rise in the prevalence of road accidents is escalating the growth of the orthopedic prosthetics market.
Data Bridge Market Research analyses that the Europe orthopedic prosthetics market which was USD 1.96 million in 2022, would rocket up to USD 3.97 million by 2030, and is expected to undergo a CAGR of 9.5% during the forecast period. "Spinal Orthotics" dominates the Europe orthopedic prosthetics market's product type segment due to the rising prevalence of road accidents. 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.
Europe Orthopedic Prosthetics Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By 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, Other End Users)
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Countries Covered
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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe
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Market Players Covered
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Market Opportunities
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Market Definition
The area of the healthcare market known as orthopaedic prosthetics includes developing, manufacturing, and supplying artificial devices that replace or improve the functionality of the musculoskeletal system. Orthopaedic prosthetics are specially made for people who have lost a limb, have limb deformities, or have reduced musculoskeletal function due to ailments, including congenital disorders, trauma, diseases, or sports injuries. They offer support, stability, and mobility.
Europe Orthopedic Prosthetics Market Dynamics
Drivers
- Increasing prevalence of orthopedic disorders
All illnesses and conditions involving the muscles, joints, and ligaments are categorized as orthopaedic disorders. Orthopaedic conditions are quite common and numerous. The increase in occurrences of orthopaedic illnesses such as osteoarthritis, osteoporosis, and others significantly drives the market for orthopaedic prosthetics. Due to these disorders, prosthetic devices are frequently required to restore movement and functionality. Thus, an increase in the incidence rates of orthopedic disorders is driving the market growth.
- Growing geriatric population
Ageing is a strong risk factor for many orthopedic issues. The geriatric population requires more medical services relative to the adult age group. Older people may need joint replacements, limb prostheses, or other orthopaedic devices to retain their mobility and independence since they are more prone to orthopaedic problems. Age-related bone fragility raises the risk of fracture, especially in diseases such as osteoporosis. In treating fractures in older individuals, orthopaedic prostheses, including casts, braces, and external fixators, are frequently utilized to promote healing and immobilization. Owing to this, it is estimated that the growing geriatric population is the major driving factor in the market's growth.
- Rising demand of personalized or customized products
Orthopaedic prostheses are individualized and specially made to match the distinct anatomical requirements of each patient. By ensuring a better fit, this customization provides greater comfort, better functionality, and a decrease in problems such as discomfort, skin irritation, and pressure spots. Patients' satisfaction levels are likely to rise if they participate in the design and customising process. Patients who feel more engaged and in charge of the design and performance of their prosthetic device frequently express better degrees of happiness and acceptance.
- Rising sports or trauma injuries among the population
Trauma and sports-related accidents can cause limb loss or serious injury, necessitating orthopaedic prosthesis to restore function. Limb prosthetics—including below-knee, above-knee, and upper-limb prostheses—are crucial for people with limbs amputated or who suffer limb malformations due to trauma. Orthopaedic prostheses created for injuries sustained in sports strongly emphasize improving athletic performance. Running blades for lower-limb amputees are one instance of a prosthetic device that mimics the natural movement and provides the necessary energy return so that athletes can compete in sports and perform at a high level.
Opportunities
- The surge in novel technological advancements
The design, production, and usability of prosthetic devices have undergone radical change due to technological breakthroughs, which have substantially impacted orthopaedic prosthetics. Orthopaedic prosthetics are incorporating robotics and Artificial Intelligence technology to improve usability and user experience. Robotic prosthetic limbs with sensors and actuators replicating human muscle activity can offer more natural movement and better control. AI systems can examine sensor data and modify prosthesis responses to offer more individualised and intuitive user interactions, creating a major opportunity for the orthopedic prosthetics market.
- Rising usage of prosthetics
Orthopaedic prosthetics are becoming more widely known and accepted among patients, medical professionals, and the general public. The stigmas attached to prosthetic devices have decreased owing to improved education, lobbying initiatives, and media portrayal, which has also helped to encourage their use. Hence, the rising usage of orthopedic prosthetics is a favorable factor for the market's growth.
Restrains
- Strict regulatory framework
Orthopaedic prosthetic producers may struggle to comply with legal criteria such as medical device laws, quality standards, and safety certifications. Additionally, manufacturers frequently need to offer thorough clinical proof of the security and effectiveness of their prosthetic devices. This entails conducting clinical trials, gathering patient data, and providing regulatory authorities with detailed paperwork. This can lengthen the time and cost required to bring new items to market while ensuring that prosthetic devices are thoroughly examined before entering the market. Thus, strict product regulations may hamper the market's growth.
- Product longevity and maintenance
Due to wear and tear, orthopaedic prosthetics need routine upkeep, modifications, and replacement. Patients may experience difficulties in terms of convenience, cost, and accessibility due to the necessity for routine maintenance and the short lifespan of prosthetic devices. Thus, product longevity and maintenance may hamper the market growth.
Challenges/Restraints
- High cost with limited reimbursement policies
Getting and affording orthopaedic prosthetic devices may be difficult for patients due to the high cost of these devices and the restricted reimbursement coverage. Patients may have financial problems due to inadequate payment rules or reimbursement delays, which may restrict their access to cutting-edge prosthetic treatments. Thus, it is predicted that huge costs with limited reimbursement facilities are the key challenge for the market's future growth.
This Europe orthopedic prosthetics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 biomarkers 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 Development
- In February 2018, Johnson & Johnson Services, Inc. went ahead with the acquisition of Orthotaxy to develop next-generation robotic–assisted surgery platform in orthopedics.
Europe Orthopedic Prosthetics Market Scope
The 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 in making strategic decisions for the identification of 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 Child
- Disabled Adult
End User
- Trauma centres
- Rehabilitation centres
- Prosthetic clinics
- Outpatient centre
- Orthopedic Clinics
- Hospitals
- Others
Europe orthopedic prosthetics market Country Level Analysis/Insights
The Europe orthopedic prosthetics market is analyzed, and market size insights and trends are provided by country, product type, technology, application, and end user as referenced above.
The countries covered in the Europe orthopedic prosthetics market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
Germany dominates the Europe orthopedic prosthetics market due to the increase in the population. Furthermore, the rise in the awareness rate will further boost the growth of the orthopedic prosthetics market in the region during the forecast period.
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 Europe orthopedic prosthetics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the Europe orthopedic prosthetics market, the impact of technology using lifeline curves, and changes in healthcare regulatory scenarios and their impact on the Europe orthopedic prosthetics market. The data is available for the historic period 2010-2019.
Competitive Landscape and Biomarkers Market Share Analysis
The Europe orthopedic prosthetics market competitive landscape provides details by a 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 the Europe orthopedic prosthetics market.
Some of the major players operating in the Europe orthopedic prosthetics market are:
- Ottobock (Germany)
- Johnson & Johnson Services, Inc. (U.S.)
- Smith & Nephew (U.K.)
- Stryker (U.S.)
- Zimmer Biomet (U.S.)
- Otto Group (Germany)
- Ossur (Iceland)
- UNYQ (U.S.)
- Blatchford Limited. (U.K)
- Arthrex Inc. (U.S.)
- Medtronic (Ireland)
- Orthopediatrics Corp. (Indiana)
- Proteor (France)
- Streifeneder ortho.production GmbH (Germany)
- WillowWood Global LLC (U.S.)
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