Market Challenges And Opportunities

Global Orthopedic Devices Market: Restraints

Issues with fittings and some side effects of wearing splints are expected to hinder growth of the market. Prefabricated stack splint and the dorsal aluminum splint may not fit well and often lead to skin irritation.

Moreover, high cost associated with fiber material is also expected to limit growth of the market. For instance, the cost of high quality braces can be around US$ 900.

Global Orthopedic Devices Market: Opportunities

Adoption of wireless technology is expected to offer lucrative growth opportunities for players in the global orthopedic devices market. For instance, in August 2019, Intellirod Spine launched iLink, a Bluetooth-enabled sensor module that can be attached to any brace, orthotic or prosthetic to measure wearing compliance, upright posture time and mobility daily through a free smartphone app.

Moreover, transparency around the cost of orthopedic devices is also expected to aid in growth of the market. For instance, in January 2020, Breg, Inc. released a new software release focused on improving transparency around the cost of durable medical equipment products such as knee braces, shoulder slings, splints, boots and crutches at the time of dispensement.

Orthopedic Devices Market Report Snapshots