Global Orthotic And Prosthetic (O&P) Devices Market to Expand Rapidly owing to Increasing Prevalence of Osteoarthritis


Published Date : Jan 08, 2016

ALBANY, NY, Jan 8, 2016: MarketResearchReports.biz announces the addition of the new report, titled ‘Orthotic And Prosthetic (O&P) Devices - Current And Future Players’ to its online repository. As per the report, the global orthotics and prosthetics (O&P) devices market is expected to expand due to the growing aging population and a rise in the occurrence of vascular diseases and osteoarthritis.

The global orthotics and prosthetics (O&P) devices market consists of braces and supports and prosthetic medical devices. Braces and supports are the external devices that provide the required support to the joints and also to the weakened musculoskeletal groups to enable fast healing and better functioning. Orthotics and prosthetics are primarily used in osteoarthritis management, strains, fractures, tear treatment, and sprains. Orthotics and prosthetics are also commonly used as medical devices for prophylactic sports. Increasing incidence of diabetes and various vascular diseases will propel the global orthotics and prosthetics (O&P) devices market in the years to come. Further, increasing adoption of braces and support for non-invasive treatments, especially in post-operative rehabilitation and fracture management, is expected to drive the global orthotics and prosthetics (O&P) devices market in the years to come.

Emerging companies are focusing on improving the applications and techniques of orthotic and prosthetic devices in the next few years. Emerging orthotics and prosthetics technologies are focusing on improving functionality to enable increased product adoption and better patient comfort.

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An increasing number of mergers and acquisitions by the leading companies will make the global orthotics and prosthetics (O&P) devices market highly competitive in the years to come. Bauerfeind AG, Breg, Inc., BSN Medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Endolite (Blatchford), Hanger, Inc., Medi GmbH & Co. KG, Ossur hf., Ottobock HealthCare GmbH, Spinal Technology, Inc., Touch Bionics Limited, WillowWood are some of the leading companies in the global orthotics and prosthetics (O&P) devices market. Advances in medical science are expected to lead to a growing number of people needful of physical rehabilitation, thus generating demand from the global orthotics and prosthetics (O&P) devices market in the near future. The recent advancements in material technology have assisted in manufacturing better medical devices and products that can be easily customized to meet the changing trends.

Considering the increasing demand for orthotics and prosthetics, the leading players are focusing on introducing new O&P devices in the global orthotics and prosthetics (O&P) devices market. Factors such as the willingness of the patients to pursue an active lifestyle and increasing occurrence of degenerative joint diseases are expected to drive the global orthotics and prosthetics (O&P) devices market in the next few years. The pace of growth of the global orthotics and prosthetics (O&P) devices market slowed down during the economic downturn from 2008 to 2009. Since then, the global orthotics and prosthetics (O&P) devices market has recovered steadily.

The global knee and hip implant market has also contributed towards the growth of the global orthotics and prosthetics (O&P) devices market in the recent past. The combination of factors such as the end of the recent recession period and rise in technology adoption will boost the global market for orthotic and prosthetic devices.

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