Osteoarthritis Assistive Devices Market : Size, Share, Emerging Trends, Analysis

Posted by Rohini Chaudhari on June 21st, 2019

Osteoarthritis Assistive Devices Market Introduction

Osteoarthritis (OA) is a type of degenerative joint disorder and the most common type of arthritis. Osteoarthritis largely affects middle-aged and elderly people. Presently, there is no cure for osteoarthritis. There are also several areas where information related to osteoarthritis is still lacking such as pathophysiology, epidemiology, environmental factors, and genetic factors. According to the Arthritis Foundation, 91 million people in the U.S. had osteoarthritis in 2017. Nearly 1 in every 3 people in the U.S. aged between 18 and 64 has arthritis. Osteoarthritis is the most common arthritis condition and is a major cause of impaired mobility and disability among people.

Currently available treatment options are insufficient, as these primarily focus on symptom relief and pain mitigation. No drugs are available that can cure, reverse, or halt disease progression. A large number of patients are unable to find relief through the currently available medicines and continue to suffer in pain. Therefore, demand for innovative treatment options for osteoarthritis is high. Osteoarthritis assistive devices help patients in easy mobility.

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Osteoarthritis Assistive Devices Market – Competitive Landscape

Key players operating in the global osteoarthritis assistive devices market include Invacare Corporation, Betterlife Healthcare Ltd., Ossenberg GmbH, GF Health Products, Inc., Honda Motor Co. Ltd., Karma Healthcare Ltd., Besco Medical Co. Ltd., Homecare Product, Inc., Permobil, Inc., and Sunrise Medical LLC. Increase in mergers & acquisitions, strategic collaborations, and new product launches are expected to drive the global market during the forecast period. Additionally, strong product portfolio, high brand recognition, and strong geographic presence are likely to boost the growth of the global osteoarthritis assistive devices market during the forecast period.

Invacare Corporation

Invacare Supply Group was formed in 1885 and was acquired by a group of investors in 1979. In the same year, Cleveland-based Technicare, a medical device manufacturer sold its wheelchair segment to this company which is now known as Invacare. The company is engaged in manufacturing and distribution of home and long term care equipment that include wheelchairs and patient aids. The company operates in four business segments, namely, lifestyle products, mobility and seating, respiratory therapy and continuing care.

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Sunrise Medical LLC

Founded in 1983, Sunrise Medical is engaged in the manufacture and sale of home healthcare products. These products include wheelchairs, medical beds, and mobility scooters and customized seating and positioning systems. The company manufacture these home healthcare products at multiple locations including Germany, U.S., Mexico, U.K., China and Spain. The products are marketed under Sopur, Quickie, Sterling, Breezy, Zippie and jAY brands.

Osteoarthritis Assistive Devices Market Dynamics

The global osteoarthritis market is expected to be driven by various factors such as increase in the prevalence of osteoarthritis, increase in geriatric population, and rise in incidence of obese population. Moreover, surge in technological innovations and investment by public and private sectors for the advancement of health care are projected to boost the market during the forecast period. Obesity is considered a risk factor for osteoarthritis, especially knee osteoarthritis.  According to the World Health Organization, obesity has nearly tripled since 1975, globally. In 2016, more than 650 million adults and 41 million children, under 5 years of age, were obese. However, high cost of these devices and less awareness among population are expected to restrain the global osteoarthritis assistive devices market in the next few years. Also, the presence of large numbers of manufacturers and fragmented market is expected to decrease the profit margins. Government funding in emerging countries is likely to create lucrative opportunities in the market during the forecast period.