San Francisco, 20
November 2018: The global prosthetics and orthotics market size is expected to reach USD 12.28 billion by
2025, according to a new report by Grand View Research, Inc., exhibiting a 5.1%
CAGR during the forecast period. Increasing incidence of sports injuries,
rising incidence of osteosarcoma, and expanding geriatric population base are
key factors driving market growth.
Rising geriatric
population across the globe has become one of the key factors driving demand
for prosthetics and orthotics. For instance, as per the United Nations, the
number of people aged 60 years or over globally is expected to more than double
by 2050, increasing from 962 million in 2017 to 2.1 billion in 2050. Geriatrics
are more susceptible to conditions such as osteoporosis and osteopenia, making
them common users of various orthopedic solutions.
Increasing incidence of
osteosarcoma in young adults and children is also driving the market to a great
extent. For instance, Children with Cancer UK, a member of the Association of
Medical Research Charities (AMRC), reported that osteosarcoma is the most
common bone tumor in children and every year around 30 new cases in children
are diagnosed in U.K. Osteosarcoma is generally treated with the help of
chemotherapy, surgery, and radiation. Patients recovering from this surgery
generally need orthopedic devices and prosthetics as a part of post-surgery
treatment, which is slated to drive the market in the upcoming years.
Access Research Report
of Prosthetics and
Orthotics Market @ www.grandviewresearch.com/industry-analysis/prosthetics-orthotics-market
Further key findings from the report suggest:
· In terms of revenue, the orthotics segment
is projected to ascend at a CAGR of 5.2% over the forecast period. Increasing
cases of diabetes related amputations across the globe is acting as the driving
factor for this segment
· By revenue, Asia Pacific is expected to
exhibit the highest growth rate over the forecast period. Rising awareness and
supportive government initiatives will fuel market growth
· Some of the key companies present in the
market are Ossur; Zimmer Biomet Holdings Inc.; Blatchford Inc.; Fillauer LLC;
Ottobock Healthcare GmbH; The Ohio Willow Wood Company; and Ultraflex Systems
Inc.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the global prosthetics and orthotics market on the basis of type and
region:
Prosthetics and Orthotics Type Outlook (Volume, Units
Sold; Revenue, USD Million, 2014 - 2025)
·
Orthotics
o
Lower limb
o
Upper limb
o
Spinal
·
Prosthetics
o
Upper Extremity
o
Lower Extremity
o
Liners
o
Sockets
o
Modular Components
Prosthetics and Orthotics Region Outlook (Volume, Units
Sold; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
APAC
o
Japan
o
China
·
LATAM
o
Brazil
o
Mexico
·
MEA
o
South Africa
Access Press Release of
Prosthetics and Orthotics Market@ www.grandviewresearch.com/press-release/global-prosthetics-orthotics-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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