ORTHOPEDIC PROSTHETIC MARKET ANALYSIS

Orthopedic Prosthetic Market, By Product Type (Upper Extremity Prosthetics, Lower Extremity Prosthetics, Liners, Sockets, Modular Components, and Others), By Technology (Conventional, Electric Powered, and Hybrid Orthopedic Prosthetics), By End User (Hospitals, Prosthetic Clinics, Rehabilitation Center, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Apr 2024
Code : CMI1150
Pages :155
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges – Irritations with Prosthesis and ill-Fitting Socket

The major factors that hinder the global orthopedic prosthetic market growth include the irritations with prosthesis that cause frustration and ill-fitting socket. For instance, in January 2022, a paper was published by Frontiers in Rehabilitation Sciences, according to which irritation due to prosthesis is not easily solvable due to its make-up and design. As there is continual changes to the user's residual limb, the sockets present in the prosthetic are rigid in nature due to which they cannot change according to users’ limb functioning.

Market Opportunities – Increasing Inorganic Growth Strategies

Increasing adoption of inorganic growth strategies, such as collaborations, is expected to offer lucrative growth opportunities in the market. For instance, in February 2023, MIT’s K. Lisa Yang Center for Bionics entered into a collaboration with the government of Sierra Leone to strengthen the capabilities and services of that country’s orthotic and prosthetic (O&P) sector.