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| Orthopedic Prosthetic Market |
Orthopedic Prosthetic refer to artificial devices used to replace missing body parts such as hips, knees, shoulders, and elbows due to orthopedic diseases or injuries. They improve the quality of life by restoring normal functioning and mobility. The rising prevalence of orthopedic diseases such as osteoarthritis, trauma, and bone cancer cases are driving the demand for orthopedic Prosthetics. The global Orthopedic Prosthetic Market is estimated to be valued at US$ 2365.78 Mn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend accelerating the growth of the Orthopedic Prosthetic market is
the increasing research and development activities focused on developing 3D
printed prosthetics. 3D printing technology helps in printing prosthetics with
intricate anatomical shapes and details. It reduces manufacturing time and cost
compared to traditional techniques. This technology is being widely adopted by
manufacturers to develop customizable prosthetics matching patients' complex
anatomical structures. Apart from this, advanced materials such as carbon
fiber, titanium, and polymer-based composites are being used to develop
lightweight and durable prosthetics with lifelike functionalities and
appearances.
Segment
Analysis
Orthopedic Prosthetic market comprises of various segments like Upper Extremity
Prosthetics, Lower Extremity Prosthetics, Liners, Sockets and Modular
Components. Among these, Lower extremity prosthetics dominates the market as
the demand for hip and knee replacements is significantly higher owing to aging
population and high rate of orthopedic diseases and injuries like arthritis.
Key Takeaways
The global Orthopedic
Prosthetic Market Share is expected to witness high growth.
Regional
Analysis: The growth of orthopaedic prosthetic market is highest in Asia
Pacific region owing to rapidly growing geriatric population, increasing
healthcare expenditure and rising number of road accidents.
Key players operating in the Orthopedic Prosthetic market are Ward Chemical,
Inc. Ward Chemical, Inc. is one of the leading players offering wide range of
prosthetic components and liners for lower and upper extremities.
For more insights, read- https://www.ukwebwire.com/orthopedic-prosthetic-market-trends-size-and-share-analysis/
For more details on the report, Read- https://dailynewsmotion.weebly.com/report-blog/plant-based-meat-market-is-estimated-to-witness-high-growth-owing-to-opportunity
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