The Global Orthotic Devices Market was valued at USD 2.39 billion in 2020, growing at a CAGR of 5.09% during the forecast period from 2021 to 2026 to reach USD 3.20 billion by 2026. The key factors such as the growing prevalence of degenerative bone disorders, rising prevalence of neuromuscular diseases, increasing geriatric population, rising number of accident and trauma cases, and the rising number of sports-related injuries among other factors are expected to drive the orthotic devices market. Improving healthcare facilities and disposable incomes have been key factors in improving the quality of life and life expectancy in general.
Some of the Global Orthotic Devices Companies with their Orthotic Devices products in various stages of development include Ottobock, Boston Orthotics & Prosthetics, LeTourneau Prosthetics, and Orthotics, B BOUNDLESS BIOMECHANICAL BRACING INC., Becker Orthopedic Trulife, Hanger Clinic, Fillauer LLC, Basko Healthcare, Bauerfeind, Breg, Inc, and others.
DelveInsight’s “Orthotic Devices System Market Insights and Forecast” report provides the current and forecasted ankle-foot Orthotic Devices Market trends for the next five years, upcoming innovation in the devices, individual Orthotic Devices market shares, challenges, drivers and barriers, and key competitors in the domain.
Orthotic Devices Overview
A footpad or a heel insert that can be purchased at the local pharmacy is called an orthotic device. It is also known as a custom-molded individually designed shoe insert or ankle brace. These devices are frequently used in the treatment of various conditions related to the foot and the ankle.
These are also found to be extremely effective when relieving normal complaints. These devices are used for several reasons including, alignment or for supporting the foot and ankle, prevention, correction, and accommodation of foot-related deformities, and improvising the overall function related to the foot and the ankle.
Interested in knowing how Orthotic Devices Market will be growing by 2026? Click to get a snapshot of Orthotic Devices Market Report
Recent Breakthrough in the Orthotic Devices Market
In recent years, the Orthotic Devices market observed expansions in terms of clinical, commercial, and clinical development.
- In 2022, ISPO will continue to collaborate with its members and partners on projects aimed at improving the quality of life for people who may benefit from prosthetic, orthotic, mobility, and assistive technology rehabilitation.
- In 2021, ISPO collaborated with the Global Disability Innovation Hub (GDI) to gather data on the usage of digital technology in prosthetics manufacturing. As part of a consensus-building process to determine which technologies and approaches would benefit the most from R&D investment, orthoses were used.
According to DelveInsight, the Orthotic Devices Clinical Development market would rise rapidly throughout the forecast period due to continuous commercial and clinical development.
Key Players Proactively Working in the Orthotic Devices Market Insights
Key players operating the global market for Orthotic Devices contribute a lot to the development of these devices, they are also involved in mergers and acquisitions to strengthen their market position. Some of the orthotic devices market companies operating actively in the Orthotic Devices included Ottobock, Boston Orthotics & Prosthetics, LeTourneau Prosthetics and Orthotics, B BOUNDLESS BIOMECHANICAL BRACING INC., Becker Orthopedic Trulife, Hanger Clinic, Fillauer LLC, Basko Healthcare, Bauerfeind, Breg, Inc, and others.
Learn more about the Orthotic Devices, get an in-depth insight at @ Orthotic Devices Types & Product Profiles
COVID-19 Impact Analysis on Orthotic Devices Market
The COVID-19 pandemic had a profound impact on elective and non-urgent surgeries across the countries. The demand for Orthotic Devices is primarily affected by the outbreak of the COVID-19 pandemic. The government imposed lockdowns to curb the spread of the virus leading to restrictions in movement and a decrease in regular check-ups.
Owing to the COVID-19 pandemic situation, various forms of elective procedures were temporarily stopped in contrast to the COVID-19 affected patients that were given utmost priority. This led to a decrease in the surgery required for Orthotic Devices. However, decreasing the number of cases, increasing vaccination number, and relief in lockdowns are expected to boost the demand for Orthotic Devices.
However, post-COVID-19 the healthcare system is trying to get normalcy owing to the resumed patent visits, the opening of manufacturing facilities, leverage given in terms of lockdown restrictions among others. Hence, the demand for Orthotic Devices is expected to rise in the market in the post-pandemic orthotic device market scenario during the forecast period.
To discuss more regarding the short/long-term impact of COVID-19, get a snapshot of the report Orthotic Devices Market Trends
Scope of the Orthotic Devices Market Report
- Geography Covered:- Global
- Study Period:- 2021-2026
- Orthotic Devices Market Segmentation: By Functionality, By Types of Products, By Customization, and By End-User, and By Geography
- Key Global Orthotic Devices Companise in the Market- Ottobock, Boston Orthotics & Prosthetics (Boston O&P), LeTourneau Prosthetics and Orthotics, B BOUNDLESS BIOMECHANICAL BRACING INC., Becker Orthopedic, Trulife, Hanger Clinic (HNGR), Fillauer LLC, Basko Healthcare, Bauerfeind, Breg, Inc, and others.
- Porter’s Five Forces Analysis
- Orthotic Devices Product Profiles
- Case studies
- KOL’s Views
- Analyst’s View
Table of content
- Report Introduction
- Executive Summary
- Regulatory and Patent Analysis
- Key Factors Analysis
- Orthotic Devices Market Porter’s Five Forces Analysis
- COVID-19 Impact Analysis
- Layout
- Global Orthotic Devices Market Company Share Analysis – Key 3-5 Companies
- Company and Product Profiles
- Project Approach
- KOL Views
- DelveInsight Capabilities
- Disclaimer
- About DelveInsight
To know about key companies related to Orthotic Devices Market, get a snapshot of the Orthotic Devices Regulatory and Patent Analysis
Key Takeaways from the Orthotic Devices Market Report Study
- Market size analysis for current orthotic devices market size (2020), and market forecast for 5 years (2021-2026)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the orthotic devices market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the global orthotic devices market.
- What are the top-performing segments in 2020? How these segments will perform in 2026.
- Which are the top-performing regions and countries in the current orthotic devices market scenario?
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