Orthotic devices refer to a supporting device for treating muscles and joints which are weak, deformed, injured, and ineffective. The increasing number of patients with bone disorders boosting the demand for orthotic devices. Further, growth in geriatric population, development of advanced orthotic devices, and growing healthcare infrastructure in the developing economies expected to drive the demand for orthotic devices over the forecasted period.This growth is primarily driven by Growth in Geriatric Population and Reimbursement Coverage for Orthopedic Treatments.
Globally, a noticeable market trend is evident Rise in Prevalence of Sports-Related Injuries
. Major Players, such as Medtronic PLC (Ireland), Stryker Corporation (United States), Zimmer-Biomet Holdings, Inc. (United States), Smith and Nephew PLC (United Kingdom), Aesculap Implant Systems, LLC (United States), Conmed Corporation (United States), Donjoy, Inc. (United States), NuVasive, Inc. (United States), BSN Medical (Germany) and DeRoyal Industries, Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
“According to the Sec. 890.3025 Prosthetic and orthotic accessory of Food and Drug administration. A prosthetic and orthotic accessory is a device intended for medical purposes to support, protect, or aid in the use of a cast, orthosis (brace), or prosthesis. Examples of prosthetic and orthotic accessories include the following: A pelvic support band and belt, a cast shoe, a cast bandage, a limb cover, a prosthesis alignment device, a postsurgical pylon, a transverse rotator, and a temporary training splint.”
- Growth in Geriatric Population
- Reimbursement Coverage for Orthopedic Treatments
- Rise in Prevalence of Sports-Related Injuries
- Emphasizing On Development of Advanced Orthotic Devices
- Stringent Government Regulations Regarding Medical Device Manufacturing
Growing Healthcare Infrastructure in the Developing Countries and Increasing Demand for Orthotic Devices in Patients with Orthopedic and Other Bone Disorders
Lack of Advanced Healthcare Facilities in the Emerging Economies
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