Prosthetics and Orthotics Market Size Worth $12.28 Billion by 2025: Grand View Research, Inc.

SAN FRANCISCO, November 13, 2018 /PRNewswire/ --

The global prosthetics and orthotics market size is expected to reach USD 12.28 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 5.1% CAGR during the forecast period. Increasing incidence of sports injuries, rising incidence of osteosarcoma, and expanding geriatric population base are key factors driving market growth.

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Rising geriatric population across the globe has become one of the key factors driving demand for prosthetics and orthotics. For instance, as per the United Nations, the number of people aged 60 years or over globally is expected to more than double by 2050, increasing from 962 million in 2017 to 2.1 billion in 2050. Geriatrics are more susceptible to conditions such as osteoporosis and osteopenia, making them common users of various orthopedic solutions.

Increasing incidence of osteosarcoma in young adults and children is also driving the market to a great extent. For instance, Children with Cancer UK, a member of the Association of Medical Research Charities (AMRC), reported that osteosarcoma is the most common bone tumor in children and every year around 30 new cases in children are diagnosed in U.K. Osteosarcoma is generally treated with the help of chemotherapy, surgery, and radiation. Patients recovering from this surgery generally need orthopedic devices and prosthetics as a part of post-surgery treatment, which is slated to drive the market in the upcoming years.

Browse full research report with TOC on "Prosthetics and Orthotics Market Size, Share & Trends Analysis Report By Type (Orthotics (Upper Limb, Lower Limb, Spinal), Prosthetics (Upper Extremity, Lower Extremity), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/prosthetics-orthotics-market

Further Key Findings From the Report Suggest: 

• In terms of revenue, the orthotics segment is projected to ascend at a CAGR of 5.2% over the forecast period. Increasing cases of diabetes related amputations across the globe is acting as the driving factor for this segment
• By revenue, Asia Pacific is expected to exhibit the highest growth rate over the forecast period. Rising awareness and supportive government initiatives will fuel market growth
• Some of the key companies present in the market are Ossur; Zimmer Biomet Holdings Inc.; Blatchford Inc.; Fillauer LLC; Ottobock Healthcare GmbH; The Ohio Willow Wood Company; and Ultraflex Systems Inc.

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Grand View Research has segmented the global prosthetics and orthotics market on the basis of type and region: 

• Prosthetics and Orthotics Type Outlook (Volume, Units Sold; Revenue, USD Million, 2014 - 2025) 
  • Orthotics
    • Lower limb
    • Upper limb
    • Spinal
  • Prosthetics
    • Upper Extremity
    • Lower Extremity
    • Liners
    • Sockets
    • Modular Components
• Prosthetics and Orthotics Region Outlook (Volume, Units Sold; Revenue, USD Million, 2014 - 2025) 
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
  • APAC
    • Japan
    • China
  • LATAM
    • Brazil
    • Mexico
  • MEA
    • South Africa

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About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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