Pune, India, March 16, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that the global orthotics market, which accumulated a valuation of USD 3.81 billion in 2021, is likely to record a robust growth rate throughout the forecast period 2022-2027.
A meticulous segmental analysis that evaluates every sub-market individually is included in the document. Further, the research literature draws attention to the competitive framework of this domain wherein major companies are profiled on this basis of their strategies, product/service offerings, pricing structures and financials, so as to enable stakeholders in understanding the market dynamics better and amplify their returns in the forthcoming years. Additionally, it encompasses insights into the actions that must be undertaken to effectively deal with spurring challenges brought forth by the Covid-19 pandemic.
Rising burden of chronic ailments, increasing geriatric population, and escalating sports injury incidences are the major factors propelling the market growth. Moreover, improvements in healthcare infrastructure, focus on research and development activities, and new product launches are unearthing new avenues for business expansion. Besides, increasing adoption of universal health coverage policies in both developed and developing markets is enhancing the industry outlook.
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Covid-19 impact overview:
The ongoing Covid-19 pandemic has significantly decelerated market progression as companies are witnessing a decline in earnings due to reduced patient admission in hospitals and clinics over safety concerns. Moreover, government mandates concerning postponement of non-essential planned surgeries and procedures, lockdowns, and travel restrictions further led to a decline in market demand.
Regional rundown:
North America, Europe, Asia Pacific, Latin America and middle East & Africa are the major regional contributors to the global orthotics market development. North America market is slated to progress at a strong pace during the forecast period, ascribed to growing prevalence of chronic diseases such as cardiovascular and neurological ailments that result in spinal injury or affect the nervous system of a person.
Competitive landscape summary:
Trulife Inc., Bauerfeind AG, Ossur hf., Colfax Corporation, Orthofix Company, DeRoyal Industries, Otto Bock, Chas A. Blatchford & Sons Company, Fillaeur Companies Inc., and Thuasne USA are the prominent players influencing global orthotics market trends.
These companies are directing continuous efforts towards increasing their remuneration potential through deliberate endeavors like mergers, acquisitions, partnerships, and R&D investments for new product development.
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Global Orthotics Market, by Posture (Value, USD Million, 2017-2027)
- Dynamic Orthoses
- Static Orthoses
Global Orthotics Market, by Anatomical Position (Value, USD Million, 2017-2027)
- Spinal Orthosis
- Lower Extremity Orthosis
- Upper Extremity Orthosis
Global Orthotics Market, by End-Users (Value, USD Million, 2017-2027)
- Rehabilitation Centers
- Prosthetics and Orthotics Clinics
- Hospitals
Global Orthotics Market, by Region (Value, USD Million, 2017-2027)
North America
- Canada
- United States
Europe
- United Kingdom
- Germany
- Italy
- France
Asia Pacific
- India
- Japan
- China
- Australia
Global Orthotics Market by Company Profiles (Value, USD Million, 2017-2027)
- Trulife Inc.
- Bauerfeind AG
- Ossur hf.
- Colfax Corporation
- Orthofix Company
- DeRoyal Industries
- Otto Bock
- Chas A. Blatchford & Sons Company
- Fillaeur Companies Inc.
- Thuasne USA
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Global Orthotics Market: Product Outlook
4. Global Orthotics Market: Size and Forecast
4.1 Global Orthotics Market Size, By Value, 2017-2027
5. Global Orthotics Market Segmentation - By Posture, By Anatomical Position, By End-users
5.1 Competitive Scenario of Global Orthotics Market: By Posture
5.1.1 Static Orthoses - Market Size and Forecast (2017-2027)
5.1.2 Dynamic Orthoses - Market Size and Forecast (2017-2027)
5.2 Competitive Scenario of Global Orthotics Market: By Anatomical Position
5.2.1 Upper Extremity Orthoses - Market Size and Forecast (2017-2027)
5.2.2 Lower Extremity Orthoses - Market Size and Forecast (2017-2027)
5.2.3 Spinal Orthoses - Market Size and Forecast (2017-2027)
5.3 Competitive Scenario of Global Orthotics Market: By End-users
6. Global Orthotics Market: Regional Analysis
6.1 Competitive Scenario of Global Orthotics Market: By Region
7. North America Orthotics Market: An Analysis (2017-2027)
7.1 North America Orthotics Market: Size and Forecast (2017-2027), By Value
7.2 North America Orthotics Market - Prominent Companies
7.3 Market Segmentation By Posture (Static Orthoses, Dynamic Orthoses)
7.4 Market Segmentation By Anatomical Position (Upper Extremity Orthoses, Lower Extremity Orthoses, Spinal Orthoses)
7.5 Market Segmentation By End-users (Hospitals, Prosthetics & Orthotics Clinic and Rehabilitation Centres)
8. Europe Orthotics Market: An Analysis (2017-2027)
8.1 Europe Orthotics Market: Size and Forecast (2017-2027), By Value
8.2 Europe Orthotics Market - Prominent Companies
8.3 Market Segmentation By Posture (Static Orthoses, Dynamic Orthoses)
8.4 Market Segmentation By Anatomical Position (Upper Extremity Orthoses, Lower Extremity Orthoses, Spinal Orthoses)
8.5 Market Segmentation By End-users (Hospitals, Prosthetics & Orthotics Clinic and Rehabilitation Centres)
9. Asia Pacific Orthotics Market: An Analysis (2017-2027)
9.1 Asia Pacific Orthotics Market: Size and Forecast (2017-2027), By Value
9.2 Asia Pacific Orthotics Market - Prominent Companies
9.3 Market Segmentation By Posture (Static Orthoses, Dynamic Orthoses)
9.4 Market Segmentation By Anatomical Position (Upper Extremity Orthoses, Lower Extremity Orthoses and Spinal Orthoses)
9.5 Market Segmentation By End-users (Hospitals, Prosthetics & Orthotics Clinic and Rehabilitation Centres)
10. Global Orthotics Market Dynamics
10.1 Drivers
10.2 Restraints
10.3 Trends
11. Market Attractiveness
11.1 Market Attractiveness Chart of Global Orthotics Market - By Posture, 2027
11.2 Market Attractiveness Chart of Global Orthotics Market - By Anatomical Position, 2027
11.3 Market Attractiveness Chart of Global Orthotics Market - By End-users, 2027
11.4 Market Attractiveness Chart of Global Orthotics Market - By Region, 2026
12. Competitive Landscape
Related Report:
Orthopedic Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
The orthopedic devices market is anticipated to witness significant growth by 2027 owing to growing penetration of orthopedic devices across the healthcare vertical, improving focus towards setting up a well-developed healthcare infrastructure, and growing adoption of stem cell and tissue engineering technologies. The presence of well-developed healthcare infrastructure, hi-tech equipment, and well-qualified staff in Gulf countries are some of the factors which will aid the market growth. In fact, Dubai for instance has the best public health system across the globe, providing a very high standard of medical care in modern facilities. From a regional frame of reference, in 2020, the orthopedic devices market in Middle East & Africa was valued at above $906 million. The region is poised to grow at a CAGR of 6.6% over the assessment time period. The growing awareness regarding orthopedic devices coupled with surgeries across the countries in the region will drive the regional market growth.
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