The global prosthetics and orthotics market is expected to reach a
notable growth during forecast period 2018-2032. The market is driven by the
increasing prevalence of chronic diseases, such as diabetes and obesity, which
are leading to an increase in amputations. Additionally, the rising geriatric
population is another key factor driving the market growth.
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Key players in the global
prosthetics and orthotics market include:
- Ottobock
- Ossur
- Blatchford
- Wright
Medical
- Stryker
- Zimmer
Biomet
- Envision
Healthcare
- Hanger
- Fillauer
- Coapt
- WillowWood
These companies are focusing
on developing new and innovative prosthetic and orthotic devices to meet the
growing needs of the patients. Additionally, they are expanding their presence
in emerging markets to capitalize on the growing demand for prosthetics and
orthotics in these regions.
North America prosthetics and orthotics market is the largest market for
prosthetics and orthotics in the globe, accounting for over 35% of the global
market share in 2022. The high prevalence of chronic diseases, the increasing
geriatric population, and the well-developed healthcare infrastructure in the
region are the major factors driving the market growth.
Europe prosthetics and orthotics market is the second-largest
market for prosthetics and orthotics in the globe, accounting for over 25% of
the global market share in 2022. The high prevalence of chronic diseases, the
aging population, and the government support for the use of advanced prosthetic
and orthotic devices are the major factors driving the market growth.
Asia Pacific prosthetics and orthotics market is the fastest-growing
market for prosthetics and orthotics, with a CAGR of 10.2% from 2022 to 2027.
The increasing prevalence of chronic diseases, the growing geriatric
population, and the rising disposable incomes in the region are the major
factors driving the market growth.
Latin America and the Middle
East and Africa are relatively smaller markets for prosthetics and orthotics,
accounting for over 10% and 5% of the global market share, respectively, in
2022. However, the markets are expected to grow at a significant CAGR during
the forecast period, due to the increasing prevalence of chronic diseases and
the growing geriatric population in these regions.
Related Charts:
GCC
Prosthetics And Orthotics Market Outlook (2018 to 2032)
Turkey
Prosthetics And Orthotics Market Outlook (2018 to 2032)
Israel
Prosthetics And Orthotics Market Outlook (2018 to 2032)
South Africa
Prosthetics And Orthotics Market Outlook (2018 to 2032)
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