LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global orthopedic prosthetics market size and it is poised to grow by USD 468.88 million during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
What was the size of the orthopedic prosthetics market in 2019?
As per Technavio, the global market size was USD 2028.49 million in 2019 and is poised to reach USD 2497.37 million by 2024.
Based on segmentation by product, which is the leading segment in the market?
Lower extremity prosthetics is the leading segment in the market.
At what rate is the market projected to grow?
Growing at a CAGR of over 4%, the market growth will accelerate during the forecast period of 2020-2024.
What are the top players in the market?
Blatchford Ltd., Fillauer LLC, Globus Medical Inc., Johnson & Johnson, Ossur hf., Ottobock SE & Co. KGaA, Smith & Nephew Plc, Stryker Corp., WillowWood Global LLC, and Zimmer Biomet Holdings Inc. are some of the major market participants.
What are the key market drivers and challenges?
Increasing use of technically advanced orthopedic prosthetics will drive market growth.
How big is the North American market?
The orthopedic prosthetics market in North America was valued at USD 738.37 million in 2019.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Blatchford Ltd., Fillauer LLC, Globus Medical Inc., Johnson & Johnson, Ossur hf., Ottobock SE & Co. KGaA, Smith & Nephew Plc, Stryker Corp., WillowWood Global LLC, and Zimmer Biomet Holdings Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The increasing use of technically advanced orthopedic prosthetics has been instrumental in driving the growth of the market.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Orthopedic Prosthetics Market 2020-2024: Segmentation
Orthopedic Prosthetics Market is segmented as below:
- Lower Extremity Orthopedic Prosthetics
- Upper Extremity Orthopedic Prosthetics
- North America
- South America
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Orthopedic Prosthetics Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The orthopedic prosthetics market report covers the following areas:
- Orthopedic Prosthetics Market Size
- Orthopedic Prosthetics Market Trends
- Orthopedic Prosthetics Market Industry Analysis
This study identifies the growing number of accidents and birth defects as one of the prime reasons driving the orthopedic prosthetics market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Orthopedic Prosthetics Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist orthopedic prosthetics market growth during the next five years
- Estimation of the orthopedic prosthetics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the orthopedic prosthetics market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the orthopedic prosthetics market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Lower extremity orthopedic prosthetics - Market size and forecast 2019-2024
- Upper extremity orthopedic prosthetics - Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Landscape disruption
- Competitive scenario
- Vendors covered
- Market positioning of vendors
- Blatchford Ltd.
- Fillauer LLC
- Globus Medical Inc.
- Johnson & Johnson
- Ossur hf.
- Ottobock SE & Co. KGaA
- Smith & Nephew Plc
- Stryker Corp.
- WillowWood Global LLC
- Zimmer Biomet Holdings Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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