Orthotic can be defined as the support, brace, or splint used to support, prevent, align, or to correct the functioning of movable body parts such as neck, shoulder, wrist, knee and etc.
These devices are used to change the functioning and structural features of the neuromuscular and skeletal system. The medical field which deals with the design and manufacturing of these devices is known as Orthotics.
The orthotic devices are mainly used to overcome from the traumatic injury, congenital condition or disabling illness. This devices helps the individuals with cerebral palsy, multiple sclerosis, muscular dystrophy, spina bifida and scoliosis, and also for those who are suffering from spinal cord injuries or amputations.
Orthotic Devices – Orthotic Splints and Orthopedic Braces and Support Market: Drivers and Restraints
Presently, orthotic devices global market is driven by the aging population, increasing in the number of incidence of disabilities, growing rate of chronic and lifestyle disease.
Orthotic Devices market is driven by the aging population around the globe, increased focus on improving quality of life, rapid innovations in production and modeling technologies, growing awareness towards orthopedic ailments and rise in sports injuries. However, growing healthcare budget, poor healthcare reimbursement and payment models, and consolidation of market leaders act as a major barrier for the growth of this market.
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Orthotic Devices – Orthotic Splints and Orthopedic Braces and Support Market: Segmentation
Orthotic devices market is segmented into following types:
- Orthopedic Braces and Support
- Upper Extremity Braces and Support
- Shoulder Braces and Support
- Neck Braces and Support
- Elbow Braces and Support
- Wrist Braces and Support
- Spinal Braces and Support
- Low Extremity Braces and Support
- Knee Braces and Support
- Ankle Braces and Support
- Hip Braces and Support
- Orthotic Splints
- Upper Extremist Splints
- Lower Extremist Splints
Orthotic Devices – Orthotic Splints and Orthopedic Braces and Support Market: Overview
With rapid innovations in production and modeling technologies and growing awareness towards orthopedic ailments and rise in sports injuries. The global Orthotic devices market is expected to have a healthy growth rate in the forecast period (2012-2025).
Orthotic Devices – Orthotic Splints and Orthopedic Braces and Support Market: Region-Wise outlook
Depending on geographic regions, global orthotic devices/orthotic splints and braces market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
North America held largest share in the global orthotic devices market followed by Europe and Asia Pacific. The developing nations in Asia pacific, Middle East and Africa hold huge potential for growth in the global orthotic device market, owing to developing economies and technological advances
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Orthotic Devices – Orthotic Splints and Orthopedic Braces and Support Market: Key Players
Some of the key participating players in the orthotic devices global market are DeRoyal Industries, Otto Bock Holding GmbH& Co., Bauerfeind AG, DJO Inc. and others.