Orthopedic
prosthetic devices are defined as external medical devices that
substitute a missing skeletal part. Orthopedic prosthetics are a
vital components for rehabilitation of injured or harmed skeletal
system, associated musculature and joints. These devices are mainly
used after trauma or surgical removal of body appendage, disability
arising from congenital condition, or disabling illnesses.
Rising
prevalence of lower limb amputation among diabetic patients is
expected to boost growth of the orthopedic prosthetic devices market
A
major driver for market growth is the rising prevalence of lower limb
amputations among diabetic patients such as diabetic foot problems,
which is caused by changes in the blood vessels and nerves that leads
to ulceration and subsequently leads to limb amputation. According to
World Health Organization (WHO), as of 2017, 170 million people are
estimated to be suffering from diabetes globally. Additionally,
increasing number of trauma cases across the globe, is in turn,
increasing the demand for orthopedic prosthetic devices and products.
According to World Health Organization (WHO), 2017, around 50 million
people are severely injured in road accidents every year across the
globe. However, high costs of orthopedic products are expected to
hinder the market growth.
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North
America is expected to be the growth engine of the market
The
global orthopedic prosthetic devices market is segmented into North
America, Latin America, Europe, Asia Pacific, Middle East, and
Africa. North America is expected to hold a dominant position in the
global orthopedic prosthetic devices market, owing to rising number
of lower limb amputations among diabetic patients as well as
affordability of these devices provided with customization and
innovation. For instance, in September 2017, Zimmer, introduced an
innovative persona partial knee system that is known to alleviate
pain, restore mobility, and improve the quality of life of the
patients. Asia Pacific is expected to witness significant traction in
the global orthopedic prosthetics devices market, owing to the
changing healthcare scenario and development of new policies and
regulatory fronts in countries in the region. For instance, the
formulation of Indian Certification of Medical Devices (ICMD) by the
Indian Healthcare regulatory body is expected to bring credibility to
the devices manufactured by regional companies, in turn driving
growth of the orthopedic prosthetic devices market.
Novel
innovations in prosthetic devices adopted by key players to establish
significant position in the global orthopedic prosthetic devices
market
Key
players operating in the global orthopedic prosthetic devices market
include Smith & Nephew, Stryker Corp., DePuy Synthes, Zimmer
Biomet, Medtronic Spinal, DJO Global, Integra Lifesciences, NuVasive
Inc., Globus Medical, and Wright Medical. The key players are
focusing on strategic mergers and acquisitions and development of
innovative systems. For instance, in October, 2017, Zimmer Biomet
Holdings Inc., introduced Avenue T TLIF Cage (Avenue T) in the U.S.
Avenue T manufactures advancements in the posterior lumbar cage
technology, through incorporation of VerteBRIDGE plating. The plating
facilitates intra-discal fixation and cage insertion through
minimally invasive procedure. Avenue T joins the previously
introduced family of its product line of cages, including Avenue L
Lateral Lumbar Cage, ROI-C Cervical Cage, and ROI-A ALIF Cage with
VerteBRIDGE plating. Avenue T is the first product with posteriorly
implanted cage, integrated with anti-migration fixation.
Market
Taxonomy
On
the basis of device type, the global orthopedic prosthetic devices
market is segmented into
-
Upper Extremity Prosthetics
-
Lower Extremity Prosthetics
-
Sockets
-
Modular Components
-
Liners
On
the basis of technology, the global orthopedic prosthetic devices
market is segmented into
-
Electric Powered
-
Conventional
-
Hybrid Orthopedic Prosthetics
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prosthetic devices market, click the link below:
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