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Orthopedic Orthotics Market to reach $4,658 million | Scope and overview, Is Projected To Expand At A Healthy Growth Rate By 2031

Orthotics is a specialized medical field that includes construction and design of orthotic device braces, splints, and other artificial external devices used to support the spine or limbs or to assist/prevent relative movements. Orthotic devices are commonly used to treat conditions of the upper and lower extremities, frequently for patients with spina bifida, muscular dystrophy, and multiple sclerosis. Furthermore, these devices aid in recovery of patients suffering congenital conditions, trauma injury, postoperative, osteoarthritis care, and other conditions.

The global orthopedic orthotics market was valued at $3,130 million in 2020, and is projected to reach $4,658 million by 2026, growing at a CAGR of 5.8% from 2021 to 2026.

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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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The growth of the global orthopedic orthotics market is driven by surge in geriatric population and rise in prevalence of osteoporosis, osteoarthritis, and other bone disorders. Furthermore, rise in prevalence of bone injuries and increase in sports-related injuries due to growing physical health consciousness fuel the market growth. However, high costs associated with customized orthotic devices impede this growth.

The global orthopedic orthotics market is segmented on the basis of posture, anatomical region, manufacturing, and region. Based on posture, it is categorized into static orthotic device, dynamic orthotic device, and other orthotic devices. On the basis of anatomical region, the market is divided into upper limb orthotic devices, lower limb orthotic devices, and spinal orthotic devices. Based on the manufacturing, it is classified into prefabricated orthotic devices, custom-fitted orthotic devices, and custom-fabricated orthotic devices. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS

This report provides an extensive analysis of the current and emerging market trends and dynamics in the global Orthopedic Orthotics Market.
This study provides the competitive landscape of the global market to predict the competitive environment across geographies.
This report entails the detailed quantitative analysis of the current trends and future estimations to identify the prevailing opportunities.
Comprehensive analysis of factors that drive and restrict the market growth is provided in the report.
Region- and country-wise analysis is provided to understand the market trends and dynamics.

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KEY MARKET SEGMENTS

By Posture

Static Orthotic Devices
Dynamic Orthotic Devices
Other Orthotic Devices

By Anatomical Region

Upper Limb Orthotic Devices
Shoulder Orthotic Devices
Elbow Orthotic Devices
Hand & Wrist Orthotic Devices
Other Upper Limb Orthotic Devices
Lower Limb Orthotic Devices
Foot & Ankle Orthotic Devices
Knee Orthotic Devices
Hip Orthotic Devices
Other Lower Limb Orthotic Devices
Spinal Orthotic Devices
Cervical Orthotic Devices (CO)
Lumbosacral Orthotic Devices (LSO)
Thoracic-Lumbo-Sacral Orthotic Devices (TLSO)
Cervical-Thoracic-Lumbar-Sacral Orthotic Devices (CTLSO)
Other Spinal Orthotic Devices

By Manufacturing

Prefabricated Orthotic Devices
Custom-fitted Orthotic Devices
Custom-fabricated Orthotic Devices

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By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

The key players profiled in this report are as follows:

Bauerfeind AG
Breg, Inc.
BSN Medical
DeRoyal Industries, Inc.
DJO Global
Ossur
Ottobock
Truelife
Hanger, Inc.
Fillauer LLC

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What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.

Reports on the market include the growth rates of each region, which includes their countries, over the coming years.

How are the key players in the market assessed?

This report provides a comprehensive analysis of leading competitors in the market.

The report includes information about the key vendors in the market.

The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.

The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.

A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

Following are the questions answered by the Market report:

What are the goals of the report?

This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.

On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.

The research report includes various factors contributing to the market’s growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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Updated : 2022-01-20 22:14 GMT+08:00

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