Global Orthopedic Prosthetics Industry is projected to achieve a significant US$ 3.62 billion by 2032, blending scientific expertise with creative ingenuity | FMI

Orthopedic Prosthetics Industry

The global orthopaedic prosthetics industry size is expected to reach a value of about US$ 2.33 billion in 2022. The market for orthopaedic prosthesis is projected to reach US$ 3.62 billion by 2032. The market for orthopaedic prosthetics is predicted to grow at a CAGR of 4.5% from 2022 to 2032.  In addition to increased mobility, orthopaedic prosthetics have various other benefits. They are crucial for improving psychological health since they make people feel confident and normal again. Due to their immaculate body integration, these prostheses remove barriers to participation in a wide range of social activities, employment, and sports.

The Orthopaedic Prosthetics Market have revolutionised medical technology, restoring movement and independence to those who have lost or been rendered limbless. These incredible devices are designed to look and function almost exactly like human limbs, enabling users to resume their daily activities with ease and confidence.

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Orthopaedic prostheses are custom-made for every patient to meet their unique needs, taking into account the level of amputation, the shape of the residual limb, and the functional requirements. Using cutting-edge materials and cutting-edge technology, these elaborately crafted devices—which could be a prosthetic limb, arm, hand, or even a sophisticated joint replacement—are created. Myoelectric prostheses, which use impulses from the user’s muscles to regulate movement, are one of the most ground-breaking recent advancements in orthopaedic prosthetics. These devices’ wider range of motion and more lifelike appearance enable users to precisely carry out difficult tasks.

As was already mentioned, digitization also makes it simpler to trace products, which makes customising them easier. Furthermore, because 3D imaging enables patients to visualise the placement of their replacement limbs beforehand, patients are better equipped to select the implant options they want. Although North America and Europe continue to generate the majority of income, opportunities in Asia Pacific are growing. Healthcare spending as a percentage of GDP is about to increase in countries like Saudi Arabia, China, Thailand, and India. Since Asia Pacific is where most diabetic patients dwell, the orthopaedic prosthetics market is expected to catch up in this region. On the other side, the consistency seen in North America and Europe may be due to the rise in limb-related peripheral vascular diseases and sports-related injuries.

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According to the following criteria: product (upper extremity prosthetics, lower extremity prosthetics, sockets, liners, and modular components), technology (conventional, hybrid orthopaedic prosthetics, and electric powered orthopaedic prosthetics), and end user, Future Market Insights’ most recent report, “Orthopaedic Prosthetics Market,” provides opinions on the market’s development from 2014 to 2018 as well as demand projections for the years 2020 to 2030.

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Key Players in Orthopaedic Prosthetics Market:

• Exatech Inc.
• Howard Orthopaedics Inc.
• Hanger Inc.
• Wishbone Medical
• Pega Medical
• OrthoPediatrics
• Arthrex
• Touch Bionics Inc.
• Advanced Arm Dynamics
• Medtronic Spinal
• Integra Lifesciences
• Globus Medical
• DJO Global

The global orthopaedic prosthetics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

Orthopaedic Prosthetics Market Segmentation:

Product

• Upper Extremity Prosthetics
  • Hand Prosthetics
  • Elbow Prosthetics
  • Shoulder Prosthetics
• Lower Extremity Prosthetics
  • Foot & Ankle Prosthetics
  • Knee Prosthetics
  • Hip Prosthetics
• Liners
• Sockets
• Modular Components

Technology

• Conventional
• Electric Powered
• Hybrid Orthopaedic Prosthetics

End User

• Hospitals
• Prosthetic Clinics
• Rehabilitation Center
• Others

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Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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