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.
Orthopedic Prosthetic Market Report Snapshots
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