ORTHOTIC DEVICES MARKET ANALYSIS

Orthotic Devices MarketSize and Trends

Global Orthotic Devices Market Drivers

The global orthotic devices market is expected to witness significant growth over the forecast period due to increasing launches of advanced orthotic devices for people suffering from neuromuscular disorders. For instance, in 2016, Myomo, Inc., a medical device company specialized in manufacturing myoelectric orthotic devices, launched MyoPro Motion-G. MyoPro Motion-G is a first orthotic devices that provides elbow flexion as well as grasping function, and allow patients to perform their essential daily activities. Moreover, MyoPro Motion-G is also used for controlling the movement of partially paralyzed arm using their own muscle signals.  

Moreover, rising number of patients with disability is expected to boost the global orthotic devices market growth. For instance, according to the WHO, in 2018, over one billion people suffered from some form of disability globally. Moreover, between 110 million and 190 million adults suffered problem in functioning of the body parts. According to the same source, increasing geriatric population, coupled with growing chronic health conditions such as cerebral palsy are the factors responsible for increasing rate of disability.