Dublin, Ireland May 13, 2020 (Issuewire.com) - The global Orthopedic prosthetics market was valued at USD 2,949.45 million in 2018, and is projected to reach USD 4,816.2 million by 2026, growing at a CAGR of 6.4% during 2019-2026. The key factors bolstering the market growth are increasing incidence of trauma/accidental injuries, the introduction of custom-made implant products, favourable reimbursement for orthopedic prosthetics, rise in prevalence of lifestyle-related diseases and disorders, growing focus on containment of healthcare costs and distribution.Based on product type, the lower limb is anticipated to lead the market during 2019-2026
Lower limb segment is expected to hold maximum share in the market during the forecast period due to innovations and technological advancement in the field of healthcare. However, the highest growth rate is predicted to be exhibited by upper limb segment during the forecast period owing to surging adoption of upper limb orthopedic prosthetics among healthcare professionals and patients due to their characteristics, such as high stability and technological advanced properties. Additionally, wide availability of technically advanced orthopedic prosthetics and rising demand for custom-made orthopedic prosthetics are likely to push the growth of global orthopaedic prosthetics market in the next 8 to 10 years.
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The global orthopedic prosthetics market has been segmented on the basis of product type, technology type, end-user type and key geographies. Based on product type, the market comprises of upper limb, lower limb and others (sockets, fingers, etc). The technology type includes conventional, electric powered and hybrid prosthetics. The end-user type includes hospitals, prosthetic clinics, rehabilitation centers & others (ASCs, normal clinics).
The research report “Global Orthopedic Prosthetics Market” provides in-depth analysis of the orthopedic prosthetics market, globally, based on product type, technology type, end-user type and major geographies for the forecast period from 2019 to 2026. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report provides market size and forecast for orthopedic prosthetics market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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Key questions answered in this research report:
1- At what pace is the orthopedic prosthetics market growing worldwide? What will be the growth trend in future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the coming years?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in global orthopedic prosthetics market?
4- What are the various application areas and how they are poised to grow?
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