North America dominates global orthopedic prosthetic devices market: 5 things to know

Written by Megan Wood | February 29, 2016 | Print  |

The orthopedic prosthetic device market is segmented into upper extremity prosthetics, lower extremity prosthetics, liners and sockets, based on a Future Market Insights report, according to medGadget.

Here are five things to know:

 

1. The United States sees about 185,000 amputations yearly.

 

2. Technological advancement, increased number of disabilities and increased rate of chronic disease drive the market's growth.

 

3. An increasing healthcare budget and unfavorable reimbursement will pose as obstacles to market growth.

 

4. Asia Pacific, Middle East and Africa will see significant growth in the market because of developing economies and technology.

 

5. Key market players include Hanger, Otto Bock HealthCare, Endolite, Touch Bionics, Ossur, The Ohio Willow Wood, Fillauer and Howard Orthopedics.

 

More articles on devices:
Surface Dynamics validates Evonik's PEEK polymer for titanium coating — 5 observations
RTI Surgical names 2 new board members: 6 things to know
Medtronic, Wright Medical, RTI Surgical & more: 17 key notes

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