North America Orthopedic Prosthetics Market, by Product Type (Upper Extremity, Prosthetics, Lower Extremity Prosthetics, Liners, Sockets and Modular Components), Technology Type (Conventional, Electric Powered and Hybrid Prosthetics), End User Type (Hospitals, Prosthetic Clinics, Rehabilitation Centers, and Others), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Orthopedic Prosthetics Market
Rising prevalence of orthopaedic disorders globally, growing number of road accidents and increasing research and development proficiencies have led to the rise in orthopedic prosthetics market value. Data Bridge Market Research analyses that the orthopedic prosthetics market will exhibit a CAGR of around 5.1% for the forecast period of 2021-2028.
From the name itself, it is clear that orthopedic prosthetics are the custom-made artificial limbs that are used to replace the damaged and untreatable limbs in the body. Orthopedic prosthetics are a combination of low weight and very high strength materials such as Kevlar, carbon fiber, and titanium.
Growing technological advancements in CAD/CAM technologies, significant developments in designing and production technologies and increased demand for materials that offer enhanced level of comfort, usability, better fixation, and excellent resistance to wear and tear will propel the market growth rate. Rising public expenditure to develop healthcare infrastructure coupled with rising cases of trauma will further propel growth in the market value. Ever-rising geriatric population base and growing acceptance of upper limb orthopedic prosthetics amongst healthcare professionals and patients will also emerge as other important market growth determinants.
However, lack of the professionals and technological experts, unfavourable reimbursement scenario and budgetary constraints in the developing and underdeveloped economies will challenge the growth of market in the forecast period mentioned above. Also, high pricing and costly maintenance will obstruct the market growth rate.
This 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 localised 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 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.
North America Orthopedic Prosthetics Market Scope and Market Size
The orthopedic prosthetics market is segmented on the basis of product type, technology type and end user type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on the product type, the orthopedic prosthetics market is segmented into upper extremity, prosthetics, lower extremity prosthetics, liners, sockets, modular components.
- Based on the technology type, the orthopedic prosthetics market is segmented into conventional, electric powered and hybrid prosthetics.
- Based on the end user type, the orthopedic prosthetics market is segmented into hospitals, prosthetic clinics, rehabilitation centers, and others.
Orthopedic Prosthetics Market Country Level Analysis
The orthopedic prosthetics market is analysed and market size insights and trends are provided by product type, technology type and end user type as referenced above.
The countries covered in the orthopedic prosthetics market report are U.S., Canada and Mexico.
U.S. in North America dominates the orthopedic prosthetics market owing to the prevalence of advanced healthcare technologies, increased funding for research and development activities, increasing incidence of orthopedic disorder and growing geriatric population.
The country section of the orthopedic prosthetics market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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 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 digital health technologies market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the orthopedic prosthetics market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Orthopedic Prosthetics Market Share Analysis
The 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 orthopedic prosthetics market.
The major players covered in the orthopedic prosthetics market report are Zimmer Biomet, Stryker, Smith & Nephew, Johnson & Johnson Services Inc., B. Braun Melsungen AG, OTTOBOCK, Hanger Clinic., and WillowWood Global LLC among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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