According to a new report Global Prosthetics and Orthotics Market, published by KBV Research, The Global Prosthetics and Orthotics Market size is expected to reach $11.7 billion by 2025, rising at a market growth of 4.6% CAGR during the forecast period.
In 2019, Orthotics retained the largest share of revenue in the prosthetics and orthotics industry. This can be attributable to increasing osteoarthritis incidence, rising occurrence of sports injuries, and extensive penetration of orthopedic technology. The segment Prosthetics is projected to see substantial growth over the forecast period.
North America was the dominant regional segment in 2019 and is expected to witness the same trend in the near future. This growth can be linked to well-established healthcare infrastructure, increased R&D investments by businesses, and favorable reimbursement policies. The Asia Pacific market is projected to witness lucrative growth over the coming years. The region is affected by a growing number of amputations related to diabetes, an increase in the number of road accidents and government initiatives that support it. The Europe market is expected to witness a CAGR of 4.2% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/prosthetics-and-orthotics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ossur Hf., Zimmer Biomet Holdings, Inc., Blatchford Limited, Fillauer LLC (Fillauer Companies, Inc.), Otto Bock Healthcare GmbH (Otto Bock Holding GmbH & Co. KG), WillowWood Global LLC, Ultraflex Systems, Inc., Johnson and Johnson, Stryker Corporation, and Smith & Nephew PLC.
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