Global Prosthetics and Orthotics Market valued at ~$4 billion, is poised to grow at ~5% CAGR by 2027

BRUSSELS - May 5, 2023 - PRLog -- Prostheses and orthoses enable patients with physical impairments or functional limitations to live a healthy, productive and an independent life. Prosthetic products include artificial lower and upper limbs, liners, and related products for amputees while bracing & supports products are primarily used to support joints and other body parts for osteoarthritis patients and those with sports injuries.

Role of Orthotics in Lessening the Foot & Ankle Pain Drives the Prosthetics and Orthotics Market

Orthoses are primarily used to control, stabilize or immobilize a joint. It can be used as a fixed or mobile support, depending on the treatment plan to counter symptoms of pain and discomfort in the feet and legs such as correcting foot deformities, offering support to the ankle, lessening risks of further injuries and helping the foot or ankle function better.

Technological Innovations Fuels the Growth of Prosthetics and Orthotics Market

Innovative market solutions and developments in this segment improves the quality of life of amputees and those suffering from neurological diseases such as stroke, spinal cord injury, and multiple sclerosis. Further, technological innovations in the orthopedic segment such as the 3D printing of implants and the introduction of bionic technology, and sensor technology in prosthetic limbs offers an ample growth opportunity in the global prosthetics and orthotics market.

Growing Trend Towards 3D Printed Prosthetics and Sensitive Limb-Based Products is Fueling the Prosthetics and Orthotics Market Growth

Prosthetic technologies have advanced rapidly to include lightweight running legs and more responsive legs and feet, thus allowing for more effective navigation. The future trend is towards building more sensitive limb-based products and brain-controlled prosthetics with the emergence of neuroprosthetics. Many of these technologies are still in development process and could take years before the most advanced prosthetics reach the prosthetics and orthotics market.

North America is Poised to Hold a Higher Market Share in the Prosthetics and Orthotics Market

From a geographical overview, North America is set to hold a higher market share in the prosthetics and orthotics market. This can be mainly attributed to the growing number of sports injuries, growing number of diabetes-related amputations, technological advancements and better healthcare coverage in this region.

Competitive Landscape Analysis: Prosthetics and Orthotics Market

Some of the leading and emerging players operating in the global prosthetics and orthotics market are Ossur, Ottobock Healthcare GmbH, Blatchford Inc., and Hanger, Inc. etc.

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