PUBLISHER: Allied Market Research | PRODUCT CODE: 1193313
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193313
The global lower extremity device market was valued at $664.56 million in 2021, and is estimated to reach $1,285.57 million by 2031, growing at a CAGR of 6.8% from 2022 to 2031.
The lower extremity devices comprise lower limb orthotics, which are specialized external devices that can be used to restore an incorrect alignment in specific lower limb locations. Orthotics is a specialized medical field that includes construction and design of orthotic device braces, splints, and other artificial external devices used to support the spine or limbs or to assist/prevent relative movements. Orthotic devices are commonly used to treat conditions of the upper and lower extremities, frequently for patients with spina bifida, muscular dystrophy, and multiple sclerosis.
Growth of the global lower extremity device market is driven by rise in prevalence of orthopedic injuries or diseases and rapid increase in geriatric population. In addition, rise in number of patients suffering from joint disorders such as osteoarthritis & rheumatoid arthritis and technological innovations in trauma products propel the market growth. Moreover, rise in healthcare expenditure and increase in demand for advanced products are other factors that contribute toward growth of the market.
One of the main causes of increase in bone-related disorders is traffic accidents. Pelvic fractures are probably the most common shattered bones following auto accidents. Leg fractures occur quite frequently. Thus, increase in road accidents drives the market growth. However, high cost of devices for treatment of injuries and lack of awareness regarding braces and other orthotic devices are expected to hinder growth of the market. Conversely, lucrative opportunities in the emerging countries expected to further propels the market growth.
The global lower extremity device market is segmented on the basis of product, application, distribution channel and region. On the basis of product, the market is categorized into knee orthotics, foot & ankle orthotics and hip orthotics. By application, it is divided into trauma & fracture and others. By end user, it is segmented into hospitals & surgical centers, retail pharmacies, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA).
The major players profiled in the report are 3M, Bauerfeind AG, Enovis, Essity AB, DeRoyal Industries, Inc, Orthofix Medical Inc., (Breg Inc.), Ossur HF, Otto Bock HealthCare GmbH, Thuasne group and Trulife.
Key Benefits For Stakeholders
By Product
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