Orthopedic Prosthetics Global Market Report 2020-30: COVID-19 Impact and Recovery provides strategists, marketers and senior management with the critical information they need to assess the global orthopedic prosthetics market as it emerges from the COVID-19 shut down.
Reasons to Purchase
Description:
Where is the largest and fastest growing market for the orthopedic prosthetics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Orthopedic Prosthetics Market Global Report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive land scape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered:
1) By Product Type: Upper Extremity Prosthetics; Lower Extremity Prosthetics; Sockets; Other Products
2) By End Users: Hospitals; Prosthetic Clinics; Rehabilitation Center; Others
3) By Technology: Conventional orthopedic prosthetics; Electric-powered orthopedic prosthetics; Hybrid orthopedic prosthetics
Companies Mentioned: Otto Bock HealthCare GmbH; Blatchford Ltd; Zimmer Biomet Inc.; DePuy Synthes; Stryker Corp.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data Segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Description:
Where is the largest and fastest growing market for the orthopedic prosthetics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Orthopedic Prosthetics Market Global Report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive land scape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The Market Characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive land scape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: Upper Extremity Prosthetics; Lower Extremity Prosthetics; Sockets; Other Products
2) By End Users: Hospitals; Prosthetic Clinics; Rehabilitation Center; Others
3) By Technology: Conventional orthopedic prosthetics; Electric-powered orthopedic prosthetics; Hybrid orthopedic prosthetics
Companies Mentioned: Otto Bock HealthCare GmbH; Blatchford Ltd; Zimmer Biomet Inc.; DePuy Synthes; Stryker Corp.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data Segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Table of Contents
1. Executive Summary2. Orthopedic Prosthetics Market Characteristics26. Key Mergers And Acquisitions In The Orthopedic Prosthetics Market27. Orthopedic Prosthetics Market Trends And Strategies28. Orthopedic Prosthetics Market Future Outlook and Potential Analysis
3. Orthopedic Prosthetics Market Size And Growth
4. Orthopedic Prosthetics Market Segmentation
5. Orthopedic Prosthetics Market Regional And Country Analysis
6. Asia-Pacific Orthopedic Prosthetics Market
7. China Orthopedic Prosthetics Market
8. India Orthopedic Prosthetics Market
9. Japan Orthopedic Prosthetics Market
10. Australia Orthopedic Prosthetics Market
11. Indonesia Orthopedic Prosthetics Market
12. South Korea Orthopedic Prosthetics Market
13. Western Europe Orthopedic Prosthetics Market
14. UK Orthopedic Prosthetics Market
15. Germany Orthopedic Prosthetics Market
16. France Orthopedic Prosthetics Market
17. Eastern Europe Orthopedic Prosthetics Market
18. Russia Orthopedic Prosthetics Market
19. North America Orthopedic Prosthetics Market
20. USA Orthopedic Prosthetics Market
21. South America Orthopedic Prosthetics Market
22. Brazil Orthopedic Prosthetics Market
23. Middle East Orthopedic Prosthetics Market
24. Africa Orthopedic Prosthetics Market
25. Orthopedic Prosthetics Market Competitive Landscape And Company Profiles
29. Appendix
Executive Summary
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.The global orthopedic prosthetics market is expected to decline from $2.1 billion in 2019 to $1.7 billion in 2020 at a compound annual growth rate (CAGR) of -20%. The decline is mainly due to COVID-19 outbreak and the measures to contain it. Several medical care facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. The orthopedic surgeries have been postponed and in some cases cancelled due the nations lockdown. The restrictions on non-essential medical services including orthopedic services coupled with slowed production of orthopedic devices and implants due to extending factory closures in various countries is contributing to the markable decline in the market growth. The market is then expected to recover and grow at a CAGR of 6.2% from 2021 and reach $2.6 billion in 2023.
North America was the largest region in the orthopedic prosthetics market in 2017. The orthopedic prosthetics market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
The orthopedic prosthetics market is being driven by an increasing number of trauma cases and accidental injuries. The trauma cases and accidental injuries 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 are 2.1 million people living with limb loss in the USA and about 300-500 amputations were performed each day. Therefore, driving the demand for orthopedic prosthetics, thus growth in the orthopedic prosthetics market.
The orthopedic prosthetics market is being restrained by entry barriers due to guidelines by the FDA's regulatory control over these devices based on the risks associated with them. These devices fall into the class III category as per the FDA, which includes devices involving high risk associated with the usage. Class III devices are required to undergo a premarket approval application (PMA), which is the FDA process of scientific evaluation for assessing the safety of these devices. Such stringent guidelines associated with these devices are creating an entry barrier and thus restraining the orthopedic prosthetics market. For instance, DePuy's hip prosthetic device was denied approval by the FDA after it was assessed as unsafe, thus creating an entry barrier and restraining the market.
The 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. For instance, Zdravprint is a Russian company which is developing prosthetics for hand, elbow and shoulder using 3D printing technology.
The orthopedic prosthetics market is regulated as per the guidelines by the food and drug administration (FDA). The FDA has subjected these devices under the class III category, which includes those devices involving a high risk associated with the usage. Class III devices are required to undergo a premarket approval application (PMA) before they can be used. PMA is the process followed by the FDA for scientific evaluation, to assess the safety of the devices. If a PMA application is found to be lacking valid clinical assessment and correct scientific reasoning, it impacts the FDA's approval and prevents the prosthetic device from being released into the market.
In February 2018, TPG Capital, a leading global alternative asset firm acquired Exactech, Inc. for $737 million. With this acquisition, TPG capital focus on expanding its business in orthopedic prosthetic devices. Exactech, Inc., is a US-based company that manufactures and distributes orthopedic prosthetic devices.
Major players in the market are Otto Bock HealthCare GmbH, Blatchford Ltd, Zimmer Biomet Inc., DePuy Synthes, Stryker Corp.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Otto Bock HealthCare GmbH
- Blatchford Ltd
- Zimmer Biomet Inc.
- DePuy Synthes
- Stryker Corp.
- The Ohio Willow Wood Co
- Ossur
- Smith and Nephew plc
- Biomet Inc
- Touch Bionics Inc
- Fillauer
- Advanced Arm Dynamics
- Stryker Corp
- Bock Healthcare Gmbh
- Medtronic Spinal
- DJO Global
- Integra Lifesciences
- NuVasive Inc
- Globus Medical
- Wright Medical
- Arthrex
- Johnson & Johnson Services
- OrthoPediatrics
- Pega Medical
- WishBone Medical
- Hanger Inc.
- Howard Orthopaedics Inc.
- Exactech Inc.
Methodology
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