Bionic Prosthetic & Orthotic Market Share

Geographically, the prosthetics and orthotics market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific industry is predicted to account for largest revenue share by 2036, due to rise in number of road accidents and increase in diabetes-related amputations.

Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue because of well-established and well equipped healthcare infrastructure and rise in research and development activities. Along with this, North America also leads in terms of favourable reimbursement policies, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the bionic prosthetics & orthotics market on account of technology advancements in the field of orthopaedic prosthetics design and growth in rate of manufacturing in the region. A recent project by European Agency for Safety and Health at Work (EUOSHA) found that the burden of work injuries is 3.30% of European GDP.

Frequently Asked Questions (FAQ)

Increasing elderly population and growing investment in the development of advanced technologies are the key factors driving market growth.

The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.

Entry barriers in terms of Regulatory Guidelines and Shortage of well-equipped rehabilitation centers are the challenges affecting the growth of this market.

The market in Asia Pacific region will provide ample growth opportunities owing to the increasing awareness about bionic prosthetics & orthotics market.

The major players dominating the bionic prosthetics & orthotics market are Ossur Corporate, Zimmer Biomet, Blatchford Inc., and Fillauer LLC among others.

Bionic Prosthetic & Orthotic Market Share