Friday, November 24, 2023

Prosthetics And Orthotics Market : A Regional Analysis of the Market Size, Share, and Trends

 

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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