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Home » Press Releases » Orthopaedic Prosthetics Market will be worth $3.27 billion by 2030

Orthopaedic Prosthetics Market will be worth $3.27 billion by 2030


Published Date: Apr-2022 | Report Format:Electronic (PDF)

The report " orthopaedic prosthetics" Market by Product (Upper Extremity, Prosthetics, Lower Extremity Prosthetics, Liners, Sockets, Modular Components), Type(Orthotics, and Prosthetics), Technology (Conventional, Electric Powered, Hybrid Prosthetics), End-User (Hospitals, Prosthetic Clinics, Rehabilitation Centres, and Others) & Region (North America, Europe, Asia Pacific, and Rest of the world)- Global Forecast to 2030. "The Global orthopaedic prosthetics Market share was USD 1.99 billion in 2020. The market is forecasted to reach USD 3.27 billion by 2030, representing a CAGR of 5.10% throughout the forecasted period. 

 

To know more about the report, Click on the link :- https://www.strategicmarketresearch.com/market-report/orthopaedic-prosthetics-market

 

KEY FACTORS THAT ARE CONTINUOUSLY AUGMENTING THE MARKET GROWTH

The worldwide market is expected to be driven by an increase in sports injuries and traffic accidents, a rise in diabetes-related amputations, and an increase in the prevalence of osteosarcoma throughout the world. Many regulatory authorities and non-governmental groups responded to the shifting situation during the epidemic.

 

By Product, the Growth factors and chemokines segment held the highest share in 2020

Based on Product, the orthopaedic prosthetics market is divided into Upper Extremity, Prosthetics, Lower Extremity Prosthetics, Liners, Sockets, and Modular Components. The Lower Extremity Prosthetics segment held the major market share in 2020. The market is expected to increase due to technical advancements in product design and growing product approvals.

 

By Type, the "Orthotics" accounted for the maximum share of the market in 2020

Based on Type, The Orthotics held the largest market share of 74% in terms of sales. This can be due to an increase in the prevalence of osteoarthritis, sports injuries, and the use of orthopaedic technologies. Upper limb orthotics accounted for the highest percentage, owing to a variety of benefits in terms of movement, such as reduced discomfort and quick recovery.

 

By Region, the "North America" accounted for the maximum share of the market in 2020

Based on Regions, the orthopaedic prosthetics market is divided into North America, Europe, Asia Pacific, and LAMEA. In terms of value, North America will continue to dominate the worldwide orthopaedic prosthetics market in 2020, with a 38.8% share, followed by Europe and the Asia Pacific, respectively. The Region's expansion is due to the presence of a well-established healthcare infrastructure, increased R&D spending by businesses, and favourable reimbursement policies. Furthermore, the market is expected to grow as osteosarcoma, and sports injuries become more common.

 

SOME OF THE NOTABLE PLAYERS ARE PREVAILING IN THE MARKET.

Some of the leading players in the Live-cell imaging Market include Abbott Laboratories, Abiomed Medtronic, Teleflex Incorporated, SynCardia Systems, Fresenius Medical Care AG & Co. KGaA, Getinge (Sweden), CardiacAssist Inc., Berlin Heart, Jarvik Heart Inc., SENKO MEDICAL INSTRUMENT Mfg. CO., LTD., CardioDyme, World Heart Corporation, fh orthopaedics inc etc. 

 

Recent Developments: -

  • In February 2022, the new Power Knee microprocessor prosthetic knee system from Ossur got released. The motor-driven "smart" prosthesis uses highly advanced algorithms to detect human movement patterns, learn, and adapt to the wearer's pace in real-time.
  • In December 2021, WillowWood Global LLC and Blue Sea Capital LLC, a growth-oriented private equity firm, formed a strategic relationship. This cooperation will improve the company's finances and assist it in developing more creative items.

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