Orthopedic Prosthetics Market| Use of Technically Advanced Orthopedic Prosthetics to Boost the Market Growth | Technavio

LONDON--(BUSINESS WIRE)--The global orthopedic prosthetics market size is poised to grow by USD 468.88 million during 2020-2024, progressing at a CAGR of over 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The emergence of technically advanced orthopedic prosthetics will drive the growth prospects for the global orthopedic prosthetics market during the forecast period. The market is experiencing a huge shift from conventional lower extremity and upper extremity prosthetics toward the technologically advanced orthopedic prosthetics since superior prosthetics include electricity powered and hybrid orthopedic prosthetics, unlike traditional prosthetics that involved custom-made sockets. Additionally, the focus of manufacturers on offering low-weight prosthetics by incorporating flexible polymers such as Kevlar, carbon fiber, and titanium will also propel the growth of the orthopedic prosthetics market.

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Report Highlights:

• The major orthopedic prosthetics market growth came from the lower extremity orthopedic prosthetics segment. Factors such as the growing demand to restore the mobility of amputees, the rising awareness among the people, and technological advancements will fuel the adoption of lower extremity prosthetics in the market. Also, the high prevalence of diabetes, the increasing number of trauma cases, and the rapid advancement in lower extremity prosthetics will further drive the growth prospects of the lower extremity orthopedic prosthetics segment.
• North America was the largest orthopedic prosthetics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing prevalence of peripheral vascular diseases related to limbs and sports-related injuries and the rising number of cases of diabetes will significantly drive orthopedic prosthetics market growth in this region over the forecast period.
• The global orthopedic prosthetics market is concentrated. 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 help clients improve their market position, this orthopedic prosthetics market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global orthopedic prosthetics market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Growing Popularity of customized Orthopedic Prosthetics will be a Key Market Trend

The growing popularity of customized orthopedic prosthetics is one of the major trends that will induce the growth of the orthopedic prosthetics market during the next four years. Since fabricated prosthetics offer a superior level of functionality and match with the shape of the amputee's limb, a large number of athletes and accident victims prefer customized orthopedic prosthetics, which, in turn, will stimulate demand and adoption of orthopedic prosthetics on a global level.

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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 orthopedic prosthetics market vendors

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Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• 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

Customer landscape

• Overview

Geographic Landscape

• 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
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption
• Competitive scenario

Vendor Analysis

• 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.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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