Orthotic Devices Market Growth Fuelled By Rising Geriatric Population

Posted by IndustryARC on June 14th, 2019

Rapidly increasing incidences of chronic diseases and sports related injuries, expanding urbanization, body disabilities, increased focus on improving the quality of human life, growing awareness towards orthopaedic ailments, and innovation in healthcare industry are some of the most important factors that will drive the orthotic devices market according to a market intelligence report by business analysts at IndustryARC. The analyst of the report has estimated the market size of orthotic devices at .13 billion by the year 2023. During the forecast period of 2018-2023, the market is evaluarted to expand at a normal compound annual growth rate (CAGR) of 3.9%.

The report is titled, ‘Orthotic Devices Market: By Type (Knee Braces & Supports, Ankle Braces & Supports Upper Extremity Braces & Supports and Others); By Application (Injuries, Chronic Diseases, Disabilities, Pediatrics); By Geography – Forecast (2018-2023).’ This report has been meticulously prepared by a life sciences and healthcare analyst at IndustryARC who has assessed the market through several parameters including opportunities and market forces.

View Full Table of Contents of Orthotic Devices Market:

https://industryarc.com/Report/163/orthotic-devices-market.html

Global Orthotic Devices Market: Regional Analysis

Some of the common orthotic devices include casts, foot inserts, and splints which are used to support and gradually correct deformities in the human body without invasion. The demand share of the market for these devices was most abundant in North America with a market revenue of 24.3 million in the year 2018. This has mostly materialised due to diabetic spreading as an epidemic in the continent leading to weakening of limbs and joints. An increasing number of population is getting amputated for diabetes with every passing day, thus necessitating the need for orthotic devices. North America also boasts an active sports industry which is another leading factor of this continent capturing a high demand share of the global orthotic devices market.

Growth Drivers and Disruptive Trends

• Rapidly Increasing Geriatric Population

According to the report, global population above 60 years old reached 962 million in 2017, and is projected to reach 2.1 billion by the year 2050. Aging population is often deprived of strong limbs and mobility, which is why they generate a high demand for orthotic devices market with a considerable magnitude.

• Growing Incidences Of Chronic Diseases

Chronic diseases on a rise worldwide due to lifestyle changes, lack of sanitation, and growing population. According to American Academy of Orthotists and Prosthetists, 20.8 million children in United States of America have diabetes. Diseases such as arthritis, obesity, and diabetes are spreading on an epidemic level, thus making patients solicit orthotic devices as limbs become weaker with passage of time in these diseases.

• Disabilities Supplementing Market Growth

According to US Census Bureau, approximately 49% of people with disabilities experience difficulty while walking or climbing a flight of stairs. Similarly accidents also lead to physical disabilities, sometimes for life. Another important factor is behind rising disabilities is armed conflict and violence in regions including Israel and Afghanistan which are responsible for permanent disabilities in soldiers. Any kind of disability leads to orthotic devices market growth, and generates a high demand for the devices.

Global Orthotic Devices Market: Competitive Landscape

Several key market players have made considerable developments in the Orthotic Devices Market market. According to the analyst, some of these companies are Breg Inc., BSN Medical GmbH and Co., DM Orthotics Ltd., Hanger Prosthetics And Orthotics Inc., Ossur HF, Ottobock Holding GmbH and Co., Townsend Design, Tynor Orthotics Pvt. Ltd., Zimmer Biomet Holdings Inc., Amfit Inc., Acor Orthpaedic Inc., Aetrex Worldwide, Inc., Bledsoe Brace Systems, Inc., Deroyal Industries, Inc., DJO Global Inc., Alcare Co. Ltd., Aspen Medical Products, Inc., Basko Healthcare B.V., Bauerfeind AG, and Becker Orthopedic Appliance Co.

What can you expect from the report?

The Orthotic Devices Market is Prepared with the Main Agenda to Cover the following 20 points:

1. Orthotic Devices Market Size by Product Categories & Application

2. Orthotic Devices Market trends & Relevant Market Data

3. Manufacturer Landscape

4. Distributor Landscape

5. Pricing Analysis

6. Top 10 End-user Analysis

7. Product Benchmarking

8. Product Developments

9. Mergers & Acquisition Analysis

10. Patent Analysis

11. Orthotic Devices Market Demand Analysis (Revenue & Volume)

12. Country-level Analysis

13. Competitor Analysis

14. Orthotic Devices Market Shares Analysis

15. Value Chain Analysis

16. Supply Chain Analysis

17. Orthotic Devices Market Strategic Analysis

18. Orthotic Devices Market Current & Future Market Landscape Analysis

19. Opportunity Analysis

20. Orthotic Devices Market Revenue and Volume Analysis

Frequently Asked Questions:

Q. Does IndustryARC provide customized reports and charge additionally for limited customization?

Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:

1. Increase the level of data in application or end user industry.

2. Increase the number of countries in geography chapter.

3. Find out market shares for other smaller companies or companies which are of interest to you.

4. Company profiles can be requested based on your interest.

5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.

Media Contact:

Mr. Venkat Reddy

Sales Manager

Email: sales@industryarc.com

Contact Sales: +1-614-588-8538

About IndustryARC:

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.