Published on : Dec 16, 2016
ALBANY, NY, Dec 16, 2016: The report is a comprehensive analysis of key drivers, challenges, trends, and future potential of the global orthopedic prosthetics products market. It discusses key segments of the market in detail and also elaborates on the leading and declining segments along with reasons behind them. The competitive landscape has been discussed in detail, with information about the market share held by top companies, their recent developments and strategies employed to stay ahead of other players.
Market experts have taken into consideration factors such as rising diagnoses of degenerative joint diseases, increasing aging population, and the desire of patients to lead a more active lifestyle. All these factors have enhanced the sales of orthopedic prosthetics products. The rising awareness among people regarding various treatment procedures is expected to create a long term growth of the global orthopedic prosthetics market. In order to avoid major surgeries an increasing number of people are opting for orthopedic prosthetics products.
The global sales of orthopedic prosthetics products is increasing with the rising prevalence of obesity and vascular diseases. In addition to this, the surge in disposable incomes of people and the growing number of people having health insurance coverages are expected to be other driving factors for the increased sales of orthopedic prosthetics products. Favorable reimbursement scenarios and increasing familiarity of surgical procedures by surgeons are also expected to augment the growth of the market. Sales of orthopedic prosthetics products are also accelerating owing to a number of players developing customized devices. Players are also developing products that are made from wear-resistant materials. The unwillingness to undergo a surgery is also driving the sales of orthopedic prosthetics products.
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Players are making use of advanced technology and creating innovative devices and this is helping doctors treat an increasing number of younger population. Players are making use of biomaterials and novel materials, along with innovative designs. They are also striving to make products that are compact, lighter, reliable, and faster. Moreover, key players are focusing on discovering advanced coating materials that fight infections.
On the basis of geography, China, India, and Latin America are expected to emerge as lucrative markets for the orthopedic prosthetics products market. The growing geriatric population coupled with economic growth are likely to drive the sales of orthopedic prosthetics products in these geographies.
Some of the players profiled in the report for the purpose of study include AAP Implantate AG, Ottobock, Medtronic, Johnson & Johnson, Arthrex, Fillauer, Touch Bionics, Independence Prosthetics Orthotics, The Ohio Willow Wood, Endolite, MatOrtho, Ossur, Stryker, Corin USA, Zimmer, and Hanger.
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