Market Analysis: Global Orthopedic prosthetics Market
Global Orthopedic prosthetics Market is expected to rise from its initial estimated value of USD 2.11 billion is 2018 to an estimated value of USD 3.24 billion by 2026, registering a CAGR of 5.5% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing number of amputations leading to use of orthopedic prosthetic devices.
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An influential Orthopedic Prosthetics Market report gives an idea about consumer’s demands, preferences, and their altering likings about particular product. A data triangulation method has been employed in this entire report which entails data mining, analysis of the impact of data variables on the market & primary (industry expert) validation. This market research report has been generated by considering a range of objectives of market research that are vital for the success of Healthcare industry. It evaluates CAGRs in percentages which designate the rise or fall occurring in the market for particular product in the specific forecast period.
Key Market Competitors: Global Orthopedic prosthetics Market
Few of the major competitors currently working in the orthopedic prosthetics market are Blatchford Group (UK), Touch Bionics Inc. (US), The Ohio Willow Wood Co. (US), Össur (Iceland), Ottobock (Germany), Fillauer LLC. (US), Advanced Arm Dynamics, inc. (US) Smith and Nephew (UK), Touch Bionics Inc (US)., Zimmer Boimet Holdings Inc. (US), Stryker Corp (US) DePuy Synthes (US). Blatchford Ortopedi AS (Norway), Exactech, Inc (US) Globus Medical Inc, (US), RTI Surgical Inc (US), Wright Medical Group N.V.,(US), Johnson & Johnson Services, Inc. (US), Arthrex Inc,(US), AlloSource (US) and others.
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Market Definition: Global Orthopedic prosthetics Market
Orthopedic Prosthetics is an artificial replacement or substitute of bones in different parts of the body. The typical orthopedic prosthetic devices are for hip, knee, elbow, ankle, leg among others.
According to Stanford Children’s Health, there were an estimated 3.5 million sports injuries occurred, this significant number is expected to act as a driver to the market growth.
Orthopedic prosthetics Market Drivers
- There is rise in number of amputations leading to use of orthopedic prosthetic devices is also expected to act as a driver to the market growth
- Technological advancement in developing prosthetic devices is driving the market.
Orthopedic prosthetics Market Restraints
- High amount of costing of these equipment is expected to act as a restraint to the market growth
Segmentation: Global Orthopedic prosthetics Market
Orthopedic prosthetics Market : By Product Type
- Upper Extremity Prosthetics
- Lower Extremity Prosthetics
- Modular Components
Orthopedic prosthetics Market : By Technology
- Manual Prosthetics
- Electric Powered Prosthetics
- Hybrid Prosthetics
Orthopedic prosthetics Market : By End User
- Rehabilitation Centers
Orthopedic prosthetics Market : By Geography
- North America
- South America
- Middle East & Africa
Key Developments in the Orthopedic prosthetics Market:
- In April 2019, Scheck & Siress announces the acquisition of Ballert Orthopedic. Ballert Orthopedic has89-years history as a leader in orthotics and prosthetics. This will enhance Scheck’s ability to deliver best-in-class, convenient O&P care throughout the Chicago area.
- In March 2019, Exactech acquires XpandOrtho. XpandOrtho is a designer of soft tissue balancing instruments for knee replacement surgery. Focus of this acquisition is to support Exactech’s growth strategy and commitment to improving surgeon experience and patient outcomes.
Competitive Analysis: Global Orthopedic prosthetics Market
Global orthopedic prosthetics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of orthopedic prosthetics market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Research Methodology: Global Orthopedic prosthetics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted 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 can 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. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global orthopedic prosthetics market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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