LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global orthopedic prosthetics market report. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
The global orthopedic prosthetics market will witness significant growth during the forecast period. The market will grow due to the rise in trauma cases and the high prevalence of diabetes and congenital disease. Prosthetic devices with advanced technology such as microprocessor knees, Michelangelo hand, hydraulic ankle, and mind-controlled humonics have addressed the needs of many people.
Competitive vendor landscape
The global orthopedic prosthetics market is characterized by the presence of key and other prominent vendors that have significant market share and offer a broad range of conventional and technologically advanced orthopedics prosthetics. The market is highly concentrated with the key players accounting for a dominant share.
“Ottobock Healthcare and Össur were ranked first and second both in terms of sales volume and revenue. These two companies have a wide geographical presence, superior distribution channels, and long-term contracts with government organizations such as military and non-profit organizations,” says Barath Palada, a lead orthopedics and medical devices research analyst from Technavio.
The key vendors have strong distribution channels globally, thereby leading to an improvement in sales volume. These vendors are focusing on emerging countries such as India, China, and Japan owing to the presence of tremendous growth opportunities in these countries.
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Top five orthopedic prosthetics market vendors
Blatchford offers prosthetics, wheelchairs, orthotics, and special seating. The company manufactures advanced microprocessor artificial limbs. It offers a broad range of sophisticated orthopedic prosthetics such as Endolite and modular assembly prosthetics. It provides exclusive clinical services to the National Health Service (NHS) and the military.
Fillauer manufactures, designs, and customizes prosthetics and orthotics products locally and internationally. The company manufactures more than 3200 prosthetics and orthotics products for pediatrics and adults. It is known for its prosthetic suspension lock system. The company offers orthopedic prosthetics under two product categories, which include upper extremity and lower extremity prosthetics.
Össur manufactures, develops, and sells non-invasive orthopedic equipment such as braces, support products, compression therapy, and prosthetics. Its products include RHEO KNEE, Unloader Hip, Rebound Hip, Unloader one, and Form Fit. The company generated a revenue of USD 521 million in FY2016. The sales growth of prosthetics was 19% in 2016.
Ottobock Healthcare is a German prosthetics company that is a subsidiary of the Ottobock Group. It has four divisions, which include orthotics, prosthetics, mobility solutions, and medical care. The company has a presence in more than 50 countries with wide sales and distribution channels.
Ohio Willow Wood
Ohio Willow Wood manufactures, designs, and distributes prosthetics and solutions for amputation surgeries. The company offers transfemoral, transtibial, upper extremity liners, and low, moderate, high activity prostate foot including the Alpha family of liners, the Fusion foot, and the OMEGA CAD system.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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