MARKET OVERVIEW
Orthotic devices are medical devices designed to support, align, prevent, or correct various body functions such as walking, moving, and standing. They are used to treat various musculoskeletal conditions, such as spinal disorders, joint diseases, and lower limb injuries. The orthotic devices market is segmented into lower extremity, upper extremity, spinal, and others. The use of orthotic devices offers various advantages over traditional methods of treatment. They provide support, stability, and protection to the affected body part, improve posture and gait, relieve pain, and enhance mobility. The orthotic devices industry serves many end-users, including hospitals, clinics, rehabilitation centers, and long-term care facilities. The future of the orthotic devices market is expected to grow significantly, driven by the increasing prevalence of chronic conditions and technological improvements.
MARKET SCOPE
The "Global Orthotic Devices Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the orthotic devices market with detailed market segmentation by type, application, end user and geography. The report provides key statistics on the market status of the leading orthotic devices market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global orthotic devices divided into knee braces and supports, ankle braces and supports, upper extremity braces and supports, spinal braces and supports, and foot insoles.
- Based on the basis of application, the market is segmented into injuries, chronic diseases, support applications, disabilities, and pediatrics.
- Based on the basis of end user, the market is segmented into hospitals, specialty clinics, and ambulatory surgical centers.
MARKET DYNAMICS
Drivers
- Growing geriatric population susceptible to osteoporosis, osteoarthritis, and other bone disorders
- Rising prevalence of bone injuries and increase in sports-related injuries
Restraints
- High cost of customized orthotic devices
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Orthotic Devices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Orthotic Devices market in these regions.
IMPACT OF COVID-19 ONÂ ORTHOTIC DEVICES MARKET
Rising spread of Covid-19 infections, there was a rising concern about a shortage of life-saving equipment and other critical medical supplies required to control the epidemic and provide adequate treatment to those affected. Additionally, until a pharmaceutical cure is developed, ventilators are the first line of treatment for COVID-19 patients requiring critical care. Additionally, there is a compelling need to accelerate the manufacturing process for a diverse range of test kits (antibody tests, self-administered, and others).
MARKET PLAYERS
The report covers key developments in the orthotic devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from orthotic devices market are anticipated to lucrative growth opportunities in the future with the rising demand for orthotic devices in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the orthotic devices market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Acor Orthopaedic, Inc.
- Aextrex Worldwide, Inc.
- Deroyal Industries, Inc.
- DJO Global
- Alcare Co.
- Aspen Medical Products, Inc.
- Basko Healthcare
- Bauerfeind
- Becker Orthopedic
- Zimmer Biomet