Tag: Upper Limb

Global Orthopedic Prosthetics Market was valued at USD 2,759.6 million in 2017

Global Orthopedic Prosthetics Market was valued at USD 2,759.6 million in 2017

Electric powered technology held the largest revenue share in 2017, and is expected to dominate through 2025, growing at a CAGR of 5.3% during 2018-2025 – GMI Research

The global orthopedic prosthetics market was valued at USD 2,759.6 million in 2017, and is projected to reach USD 4,158.2 million by 2025, growing at a CAGR of 5.3% during 2018–2025. The key factors boosting growth of the market are increasing incidence of trauma/accidental injuries, innovations and technological advancement in orthopedic prosthetics technology and introduction of custom-made implant products.

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Furthermore, increasing adoption of orthopedic prosthetic products at prosthetic clinics, rising technological advancement and spending on healthcare facilities across the globe have led to burgeoning market growth of orthopedic prosthetics market.

Lower limb product type segment is expected to dominate global orthopedic prosthetics market during the forecast period. In 2017, more than half of the market share was held by the lower limb segment. However, the highest growth rate is expected to be witnessed by the upper limb segment during the forecast period owing to growing adoption of upper limb prosthetics among healthcare professionals and patients due to their characteristics of high stability and advanced properties.

Technological advancements in orthopedic prosthetics industry and increasing research & development activities are likely to drive the growth of global orthopedic prosthetics market in near future. Hybrid prosthetics technology in the orthopedic prosthetics market is the upcoming technology to look forward to.

“The companies are focussing on partnership with firms, mergers & acquisitions and investment in research & development activities to keep leadership in the competitive orthopedic prosthetics market. For example: On March, 2016, Zimmer Biomet announced the acquisition of Ortho Transmission and its technology, developed by a US military surgeon, which may improve mobility for amputees.”
—-GMI Research 

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Based on geography, North America held the largest share in the market in 2017 because of large adoption rate of orthopedic prosthetics, high volume of clinical procedures and growth in medical tourism. In addition, there has been a rise in incidence of trauma injuries. Asia-Pacific holds the third largest share in global orthopedic prosthetics market and is expected to grow at a moderate rate during the forecast period.

Key takeaways/key essentials:
•    In 2017, the prosthetic clinics end user type held more than three forth of the market share.
•    Biomet Inc., Johnson & Johnson, and Stryker Corp. are the leading players holding approximately around one third of the market share.
•    The hybrid prosthetics technology type is anticipated to grow at the highest rate during the forecast period from 2018 to 2025.
•    Hybrid prosthetics is the emerging prosthetic technology in the orthopedic prosthetics field, which is intended to cater to the unmet needs of the prosthetic market.
•    North America region occupied maximum revenue share in global orthopedic prosthetics market in 2017.

Some of the key players operating in global orthopedic prosthetics market include, Smith and Nephew plc, Biomet Inc., Johnson & Johnson, Stryker Corp., Otto Bock HealthCare GmbH, Blatchford Ltd, Touch Bionics Inc., Hanger Inc., Fillauer LLC and The Ohio Willow Wood Co.

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 comprises of conventional, electric powered and hybrid prosthetics. The end user type comprises of prosthetic clinics, hospitals, rehabilitation centers and others (ASCs, normal clinics, etc).

The research report “global orthopedic prosthetics market” provides in-depth analysis of orthopedic prosthetics market, globally, based on product type, technology type, end user type and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for orthopedic prosthetics market. The report also analyzes 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.

For more details, browse the Table of Contents: https://www.gmiresearch.com/report/global-orthopedic-prosthetics-market-opportunities-forecast-by-product-type-technology-end-user-share-trends-insights.html

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Global Orthopedic Prosthetics Market Opportunities & Forecast (2018-2025)-GMI Research

Global Orthopedic Prosthetics Market Opportunities & Forecast (2018-2025)-GMI Research

Global Orthopedic Prosthetics Market, By Product Type (Upper Limb, Lower Limb and Others), By Technology Type (Conventional, Electric Powered and Hybrid Prosthetics), By End User Type (Hospitals, Prosthetic Clinics, Rehabilitation Centers, and Others), and Geography – Opportunities & Forecast, 2018-2025

The global orthopedic prosthetics market was valued at USD 2,759.6 million in 2017, and is projected to reach USD 4,158.2 million by 2025, growing at a CAGR of 5.3% during 2018–2025.

Figure 1: Global Orthopedic Prosthetics Market Revenue, 2018–2025 (USD Million)

Source: GMI Research

The key factors bolstering the market growth are increasing incidence of trauma/accidental injuries, introduction of custom-made implant products, favorable reimbursement for orthopedic prosthetics, rise in prevalence of life-style related diseases and disorders, and growing focus on containment of healthcare costs and distribution.
Based on product type, lower limb is anticipated to lead the market during 2018–2025

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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 orthopedic prosthetics market in the next 8 to 10 years.

Based on technology type, electric powered segment is anticipated to lead the market during 2018–2025
Electric powered technology segment is expected to hold maximum share in the market during the forecast period due to innovations, technological advancement and high stability in the field of medical devices. Hybrid prosthetics segment is predicted to exhibit a high growth rate during the forecast period owing to surging adoption of technology among healthcare professionals.

Based on end user type, prosthetic clinics segment dominates the market and is projected to grow at the highest rate during 2018–2025
The end-user segment includes, hospitals, prosthetic clinics, rehabilitation centers and others. Technological advancement in healthcare industry and increasing research & development activities are likely to drive the growth of this segment. Prosthetic devices have been playing a crucial role in the healthcare facilities, especially in hospitals and prosthetic clinics, owing to their various advantages, such as they are user friendly, stable, technological advanced and nearly restores the normal function of the missing body part. The healthcare practitioners are increasingly using technology platforms to serve the growing hospitals and patients’ needs.

Big players are investing a lot in research & development activities. The companies are focusing on product launches for keeping their leadership in global orthopedic prosthetics market. 

Figure 2: Global Orthopedic Prosthetics Market Revenue, by Region, 2017

Source: GMI Research

North America held the largest share in global orthopedic prosthetics market in 2017 owing to increased government and private funding on healthcare infrastructure, growth in medical tourism and technological awareness in healthcare. Asia-Pacific is predicted to be the third most attractive regional market in global orthopedic prosthetics market and is likely to show steady growth rate in the next few years.

Various notable players operating in global orthopedic prosthetics market include, Smith and Nephew plc, Biomet Inc., Johnson & Johnson, Fillauer LLC, Stryker Corp., Otto Bock HealthCare GmbH, Blatchford Ltd, Touch Bionics Inc., Hanger Inc., and The Ohio Willow Wood Co.

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, etc.).

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 2018 to 2025. 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 analyzes 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.

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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Table of Contents (TOC)

1.    Executive Summary

2.    Introduction      
2.1.    Study Objectives
2.2.    Market Definition
2.2.1.     Market Covered
2.2.2.    Geographical Coverage
2.2.3.    Study Years & Currency
2.3.    Market Stakeholders
2.4.    Key Questions this Study will Answer
2.5.    GMI Research’s Approach & Methodology
3.    Global Orthopedic Prosthetics Market – Overview
3.1.    Introduction         `
3.2.    Market Segmentation
3.3.    Pipeline Analysis
3.4.    Drivers
3.5.    Restraints
3.6.    Trends
4.    Global Orthopedic Prosthetics Market Revenue Forecast till 2025

5.    Global Orthopedic Prosthetics Market by Product Type Revenue Forecast till 2025 
5.1.    Upper Limb
5.2.    Lower Limb
5.3.    Others
6.    Global Orthopedic Prosthetics Market by Technology Type Revenue Forecast till 2025
6.1.    Conventional Technology
6.2.    Electric Powered Technology
6.3.    Hybrid Technology
7.    Global Orthopedic Prosthetics Market by End User Revenue Forecast till 2025  
7.1.    Hospitals
7.2.    Prosthetic Clinics
7.3.    Rehabilitation Centers
7.4.    Others
8.    Global Orthopedic Prosthetics Market by Geography Revenue Forecast till 2025

8.1.    North America Orthopedic Prosthetics Market Revenue Forecast till 2025
8.1.1.    North America Orthopedic Prosthetics Market by Product Type (Option 1: 25% customization)
8.1.1.1.    Upper Limb
8.1.1.2.    Lower Limb
8.1.1.3.    Others
8.1.2.    North America Orthopedic Prosthetics Market by Technology Type
8.1.2.1.    Conventional Technology
8.1.2.2.    Electric Powered Technology
8.1.2.3.    Hybrid Technology
8.1.3.    North America Orthopedic Prosthetics Market by End User
8.1.3.1.    Hospitals
8.1.3.2.    Prosthetic Clinics
8.1.3.3.    Rehabilitation Centers
8.1.3.4.    Others

8.2.    Europe Orthopedic Prosthetics Market Revenue Forecast till 2025
8.2.1.    Europe Orthopedic Prosthetics Market by Product Type (Option 1: 25% customization)
8.2.1.1.    Upper Limb
8.2.1.2.    Lower Limb
8.2.1.3.    Others
8.2.2.    Europe Orthopedic Prosthetics Market by Technology Type
8.2.2.1.    Conventional Technology
8.2.2.2.    Electric Powered Technology
8.2.2.3.    Hybrid Technology
8.2.3.    Europe Orthopedic Prosthetics Market by End User
8.2.3.1.    Hospitals
8.2.3.2.    Prosthetic Clinics
8.2.3.3.    Rehabilitation Centers
8.2.3.4.    Others
8.3.    Asia Pacific Orthopedic Prosthetics Market Revenue Forecast till 2025
8.3.1.    Asia-Pacific Orthopedic Prosthetics Market by Product Type (Option 1: 25% customization)
8.3.1.1.    Upper Limb
8.3.1.2.    Lower Limb
8.3.1.3.    Others
8.3.2.    Asia-Pacific Orthopedic Prosthetics Market by Technology Type
8.3.2.1.    Conventional Technology
8.3.2.2.    Electric Powered Technology
8.3.2.3.    Hybrid Technology
8.3.3.    Asia-Pacific Orthopedic Prosthetics Market by End User
8.3.3.1.    Hospitals
8.3.3.2.    Prosthetic Clinics
8.3.3.3.    Rehabilitation Centers
8.3.3.4.    Others
8.4.    Rest of the World Orthopedic Prosthetics Market Revenue Forecast till 2025
8.4.1.    Rest of the World Orthopedic Prosthetics Market by Product Type (Option 1: 25% customization)
8.4.1.1.    Upper Limb
8.4.1.2.    Lower Limb
8.4.1.3.    Others
8.4.2.    Rest of the World Orthopedic Prosthetics Market by Technology Type
8.4.2.1.    Conventional Technology
8.4.2.2.    Electric Powered Technology
8.4.2.3.    Hybrid Technology
8.4.3.    Rest of the World Orthopedic Prosthetics Market by End User
8.4.3.1.    Hospitals
8.4.3.2.    Prosthetic Clinics
8.4.3.3.    Rehabilitation Centers
8.4.3.4.    Others

9.    Competitive Landscape  
9.1.    Industry Attractiveness
9.2.    Porter 5 Analysis
9.3.    Major players and their key strategies
9.4.    Company Share Analysis
10.    Company Profiles (Option 5: 25% Customization – Profiles of 5 Additional Companies of your Choice)
10.1.    Smith and Nephew Plc
10.1.1.    Company Overview
10.1.2.    Financials
10.1.3.    Recent Developments
10.2.    Zimmer Biomet, Inc.
10.2.1.    Company Overview
10.2.2.    Financials
10.2.3.    Recent Developments
10.3.    Johnson & Johnson Inc
10.3.1.    Company Overview
10.3.2.    Financials
10.3.3.    Recent Developments
10.4.    Fillauer LLC
10.4.1.    Company Overview
10.4.2.    Financials
10.4.3.    Recent Developments
10.5.    Stryker Corp
10.5.1.    Company Overview
10.5.2.    Financials
10.5.3.    Recent Developments
10.6.    Otto bock HealthCare GmbH
10.6.1.    Company Overview
10.6.2.    Financials
10.6.3.    Recent Developments
10.7.    Blatchford Ltd
10.7.1.    Company Overview
10.7.2.    Financials
10.7.3.    Recent Developments
10.8.    Touch Bionics Inc
10.8.1.    Company Overview
10.8.2.    Financials
10.8.3.    Recent Developments
10.9.    Hanger, Inc
10.9.1.    Company Overview
10.9.2.    Financials
10.9.3.    Recent Developments
10.10.    The Ohio Willow Wood Co.
10.10.1.    Company Overview
10.10.2.    Financials
10.10.3.    Recent Developments
11.    About GMI Research

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Contact – Sarah Nash

Level 1, The Chase Carmanhall Road,
Sandyford Industrial Estate,
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U.S Office +1 860 881 2270
Europe Office +353 1 442 8820

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