Global Orthotic Devices Market Is Anticipated to Surge Approximately $30.3 Billion By 2030

The global orthotic devices industry size was nearly $25.2 Billion in 2022 and is anticipated to surge to approximately $30.3 billion by 2030 along with recording the highest growth rate of nearly 11.1% from 2023 to 2030.

Orthotic devices are recommended by doctors for a slew of uses including supporting the foot & ankle, correcting foot deformities, and improving functions of the ankle & foot. Furthermore, orthotic devices find lucrative applications in neuropathy. Apart from this, these products assist in minimizing pain and enable treatment for patients with spine injuries as well as brachial plexus injuries. In addition to this, orthotic devices are applied externally with the purpose of aiding, mobilizing, and altering the structure of human muscles. They also support and improve the neuromuscular system that is weak, damaged, and ineffective.

Furthermore, the rise in aging population prone to bone as well as neuromuscular disorders has proliferated the growth of the global orthotic devices market. In addition to this, an increase in bone degeneration among sports persons as well as old people has created a huge demand for orthotic devices. Apart from this, the increase in the number of people with disabilities has inflated the global market demand. Additionally, disorders including degenerative bone disorders have led to pain in bones, dislocation, and incapacitated patients, thereby driving the growth of the market across the globe.

However, massive costs related to the usage of customized raw components can put brakes on the global orthotic devices industry expansion. Nevertheless, a rise in the frequency of orthopedic disorders in individuals globally is anticipated to open new growth avenues for the market across the globe.

The global orthotic devices market is sectored into product type, functionality, end-user, and region.

The product type segment of the orthotic devices market is sub-segmented into lower limb orthotic devices, upper limb orthotic devices, and spinal orthotic devices segments. Furthermore, the lower limb orthotic devices segment, which contributed majorly towards the global market earnings in 2022, is projected to dominate the segment in the upcoming years. The segmental surge in the coming eight years can be credited to the use of the product in certain regions of the lower limb for adjusting the alignment of abnormal joints apart from providing external aid to human anatomy.

Based on functionality, the orthotic devices industry across the globe is sectored into static orthotic devices and dynamic orthotic devices segments. The static orthotic devices segment, which contributed remarkably towards the global market share in 2022, is predicted to record the fastest CAGR over the assessment period. The segmental expansion in the ensuing years is due to a slew of advantages provided by static orthotic devices such as reducing joint stiffness, enhancing muscle flexibility, improving mobility of humans, and reducing pain caused during body movement. Moreover, static orthotic devices find a plethora of applications in arthritis treatment as well as in nerve damage, tendon injuries, broken bones, and muscle weakness therapies.

On the basis of end-user, the orthotic devices market across the globe is divided into hospitals & clinics, ambulatory surgical centers, and homecare settings segments. Moreover, the ambulatory surgical centers segment, which accounted majorly towards the global market share in 2022, is set to record the highest gains in the ensuing years. The growth of the segment in the next couple of years can be credited to the escalating use of the product in treating patients in ambulatory surgical centers.

Furthermore, North America, which contributed to over one-third of the global orthotic devices industry share in 2022, is anticipated to lead the regional industry expansion over the analysis period. The regional market surge over the forecast timeline can be owing to growing incidences of osteoporosis and bone disorders in the countries such as the U.S. and Canada. Additionally, a surge in the geriatric population prone to bone disorders & neuromuscular disorders and high awareness among healthcare service providers about disease management will boost the market profitability in the region. Furthermore, the presence of diverse patient population in Canada and the U.S. will increase the use of orthotic devices in the sub-continent. In addition to this, access to advanced healthcare amenities in the region will open new facets of growth for the market in the sub-continent.

Browse the full “Orthotic Devices Market By Functionality (Static Orthotic Devices and Dynamic Orthotic Devices), By Product Type (Upper Limb Orthotic Devices, Spinal Orthotic Devices, and Lower Limb Orthotic Devices), By End-User (Hospitals & Clinics, Homecare Settings, and Ambulatory Surgical Centers), and By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.” Report at https://www.zionmarketresearch.com/report/orthotic-devices-market

Recent Developments:

• In the second half of 2022, ActivArmor, a biomedical tech firm based in the U.S., entered into a strategic alliance with Fusion3, a U.S.-based firm manufacturing 3D printers for commercial & educational purposes, for commercialization of waterproof custom cast fabrication. Moreover, the move is aimed at expanding its business across the U.S.
• In the third quarter of 2022, Enovis, a medical technology firm focusing on providing effective & customized orthopedic solutions to its customers, launched an AR device for orthopedic surgery. The AR device can be controlled by physicians for aligning implants with accuracy. The initiative is likely to boost the demand for orthotic devices across the globe.

Key players in the global orthotic devices market include:

• Hanger Clinic
• Ottobock
• Conwell Medical Co. Ltd
• Boston Orthotics & Prosthetics
• DJO
• Becker Orthopedic
• LeTourneau Prosthetics and Orthotics
• ORTHOMERICA PRODUCTS
• INC
• Acor Orthopaedic Inc.
• B BOUNDLESS BIOMECHANICAL BRACING INC.
• Steeper Inc
• Fillauer LLC
• Basko Healthcare
• Aetrex Worldwide Inc.
• Allard USA Inc
• Bauerfeind
• Breg Inc LLC
• Aspen Medical Products LLC
• Trulife
• Kinetec Medical Products UK Ltd

The global orthotic devices market is segmented as follows:

By Functionality

• Static Orthotic Devices
• Dynamic Orthotic Devices

By Product Type

• Upper Limb Orthotic Devices
• Spinal Orthotic Devices
• Lower Limb Orthotic Devices

By End-User

• Hospitals & Clinics
• Homecare Settings
• Ambulatory Surgical Centers

 By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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