According to MarketIntelReports “World Orthopedic Orthotics Market by Product Type, Market, Players and Regions-Forecast to 2021”:
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Orthotics can be described as a medical field that deals with the designing and construction of Orthoses which acts as a support to modify, control or immobilize movement. Orthoses deals with the correction of muscle and joints by the restriction and alignment of bones. Orthopedic orthoses is prescribed in the case of deformity due to accidents, trauma, birth defects, sports injury, and osteoarthritis. Orthopedic inserts are customized for correct fitting. The devices are made from graphite or plastic to provide flexibility while restricting the abnormal movement. Neoprene is applied in soft braces and provides an easy application to the movement. Orthopedic orthics is available for anatomies like the wrist, hand, elbow, knee, ankle, spine, and foot.
Scope & Regional Forecast of the Orthopedic Orthics Market
The Orthopedic Orthics Market has seen a rise due to technological advances like computer assisted design (CAD) and 3D printing. When the devices are customized, they deliver better results compared to the prefabricated as these devices do not have proper immobilization. The market for orthotic arch supports is increasing rapidly due to the changing customer preferences due to increasing disposable income and awareness of the medical services that are available.
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The Orthopedic Orthics Market gets a boost from the increased incidences in sports injuries. According to the Osteoporosis foundation, around 200 million individuals suffer from Osteoporosis. The increased prevalence of Osteoporosis is adding to the patient pool for the application of orthotics prosthetics. However, the low reimbursement rates are restricting the growth of orthotic appliances. North America has the largest share in the field of medical orthotics and prosthetics. Though the Asia Pacific market is small, it is expected to grow at a faster rate compared to Europe and North America, since China and Japan are the contributors. The main reason for the increase in the usage of ortho inserts in the region is due to the high density population in China and India. Japan stands second in having the largest number of medical devices after US. High incidences of road accidents in India is also a contributor to the market.
Segmentations & Key Players Involved in the Orthopedic Orthics Market
The Orthopedic Orthics market can be broken down into various segments as follows:
- Product- Upper limb orthoses, lower limb orthoses, and spinal orthoses.
- Application- Functional recovery and Deformity.
- Region- North America (USA, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy),Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America, Middle East and Africa.
Some of the key players involved in the Orthopedic Orthics Market are as follows:
- DJO Global
- Ossur hf
- DeRoyal Industries
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