The Business Research Company’s Orthopedic Prosthetics Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON , UK, September 17, 2021 /EINPresswire.com/ — Companies in the orthopedic prosthetics market are witnessing the emergence of 3D printed orthopedic prosthetics. 3D printing is a process which involves a digital model being transformed into a three-dimensional solid object. 3D printed orthopedic prosthetics are devices that are manufactured by the process of 3D printing. These devices have shorter lead times, lower costs and consistent quality. Zdravprint is a Russian company which is developing prosthetics for hand, elbow and shoulder using 3D printing technology.
The orthopedic prosthetics market is being driven by an increasing number of trauma cases and accidental injuries. These cases are caused by various factors such as road accidents, sports injuries, other medical complications, and work-related accidents. Most of these injuries may require amputations and prosthetic devices to replace the lost body part. For instance, as of 2017 there were 2.1 million people living with limb loss in the USA and about 300-500 amputations were performed each day. Thus the growth in the orthopedic prosthetics market.
The global orthopedic prosthetics market size is expected to grow from $1.75 billion in 2020 to $1.95 billion in 2021 at a compound annual growth rate (CAGR) of 11.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.53 billion in 2025 at a CAGR of 6.7%.
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The orthopedic prosthetics market consists of sales of orthopedic prosthetic devices. Orthopedic prosthetics are artificial devices used to replace a missing body part lost due to disease, trauma, surgical removal of body appendage, disabling illness or congenital conditions. Orthopedic prosthetic devices are segmented into upper and lower extremity prosthetics. Upper extremity prosthetics include hand, elbow, shoulder and lower extremity prosthetics include foot and ankle, knee, hip.
Major players covered in the global orthopedic prosthetics industry are Otto Bock HealthCare GmbH, Blatchford Ltd, Zimmer Biomet Inc., DePuy Synthes, Stryker Corp.
TBRC’s global orthopedic prosthetics market report is segmented by product type into upper extremity prosthetics, lower extremity prosthetics, sockets, other products, by end users into hospitals, prosthetic clinics, rehabilitation center, others, by technology into conventional orthopedic prosthetics, electric-powered orthopedic prosthetics, hybrid orthopedic prosthetics.
Orthopedic Prosthetics Global Market Report 2021 – By Product Type (Upper Extremity Prosthetics, Lower Extremity Prosthetics, Sockets), By End Users (Hospitals, Prosthetic Clinics, Rehabilitation Center), By Technology (Conventional Orthopedic Prosthetics, Electric-powered Orthopedic Prosthetics, Hybrid Orthopedic Prosthetics), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides orthopedic prosthetics market overview, forecast orthopedic prosthetics market size and growth for the whole market, orthopedic prosthetics market segments, and geographies, orthopedic prosthetics market trends, orthopedic prosthetics market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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