ORTHOTIC DEVICES MARKET ANALYSIS

Regional Analysis

Global Orthotic Devices Regional Analysis

North America is expected to hold a significant market share in the global orthotic devices market. This is attributed to increasing number of patients suffering from diabetes that may results in limb amputations, which in turn, is expected to drive the orthotic devices market growth in the region. For instance, in 2016, according to the American Orthotic Devices & Prosthetic Association and the American Diabetes Association (ADA), patient suffering from diabetes are facing problem of losing leg or foot, which is 15 to 40 times higher without the disease. According to the same source, in the U.S, over 80,000 diabetes-related lower limb amputations are performed each year.

Moreover, presence of key players and their partnerships with other companies are expected to drive the global orthotic devices market growth. For instance, in 2018, Bauerfeind USA, Inc., a manufacturer of orthopedic braces, entered into a distribution partnership with AliMed, Inc. In addition, the main objective of this partnership was to provide the customers with the highest quality of orthotic product for the comfort of patient.

Moreover, in 2017, Bauerfeind USA, Inc. was awarded by Arthritis Foundation for its GenuTrain product. Moreover, GenuTrain product such as GenuTrain knee braces provide relief and stability for the knee joint, mostly used in the arthritis.