North America Prosthetics and Orthotics Market By Type (Orthotics and Prosthetics) By Orthotics Category (Upper limb, Lower limb and Spinal) By Prosthetics Category (Upper extremity, Lower extremity, Liners, Sockets and Modular components) By Country, Industry Analysis and Forecast, 2019 - 2025
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Market Report Description
The North America Prosthetics and Orthotics Market would witness market growth of 4% CAGR during the forecast period (2019-2025). With the progressive healthcare reforms of today, the capacity of the O&SP physician to measure the quality of healthcare delivery and cost-effectiveness of treatment is essential for the future success of the clinical practice. In the manufacturing sector, the emergence of total quality management has developed concepts of quality control procedures. Today, managed care, government, and other businesses assess and use outcome measures as the primary mode of quality assessment of the delivery of healthcare.
Rising incidences of sports injuries, growing osteosarcoma prevalence and expanding geriatric population base are the main driving factors for the industry. The growth of the geriatric population worldwide has become a major driving force in demand for prosthetics and orthotics. For example, according to the United Nations, by 2050, the number of people aged 60 years or over worldwide is projected to more than double, from 962 million in 2017 to 2.1 billion in 2050. Elderly people are more sensitive to disorders like osteoporosis and osteopenia, making them frequent consumers of various orthopedic solutions.
The growing incidence of osteosarcoma in young adults and children also significantly drives the market. Patients recovering from this operation typically require orthopedic equipment and prosthetics as part of post-surgery care that will drive the market in the years to come. As of 2018, approximately 800 to 900 new cases of osteosarcoma are recorded annually in the US.
Based on Type, the market is segmented into Rollators, Walkers and Others. Based on Rollators Type, the market is segmented into Premium and Low Cost. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
Scope of the Prosthetics and Orthotics Market Analysis
- Upper limb
- Lower limb
- Rest of North America
- 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
- Smith & Nephew PLC
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