The global orthopedic orthotics market was valued over US$ 3.4 Bn in 2017 and is projected to expand at a cumulative annual growth rate (CAGR) of over 5.5% from 2018 to 2026 to surpass a value of US$ 5.5 Bn by 2026.
Albany, NY -- (SBWIRE) -- 10/01/2018 -- High incidence rates of neuromuscular disorders and fractures and rising cases of osteoarthritis and orthopedic injuries have resulted in an influx of patients, which consequently are projected to drive demand for global orthopedic orthotics in forecast period. Moreover, the development of e-commerce platforms is expected to boost the market.
Revenue earned from the orthopedic orthotics market are estimated to grow at a CAGR of 5.5% through 2026. Such insights have been gleaned from the report titled "Orthopedic Orthotics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" added recently to the immense repository of Market Research Reports Search Engine (MRRSE).
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Increasing popularity of spine orthotics among physicians, owing to its efficacy in easing recovery from health issues such as spine surgery, spine disorders, general back pain are also expected to boost growth.
The North America orthopedic orthotics market is anticipated to continue its dominance as regional market leader. This can be attributed to a rapidly growing population of the elderly, increasing incidences of spine disorders, neuromuscular and musculoskeletal disorders, sports related injuries, and a surge in microprocessor orthotics practices in the region.
Orthopedic orthotics for neuromuscular and musculoskeletal disorders are expected to continue as market share leaders owing to widespread adoption of relevant pain free and value adding treatment procedures in the healthcare sector.
Major market players are focusing on efficient and cost effective orthopedic orthotics designs in addition to acquisition and collaboration strategies in order to gain geographic strength for a competitive edge.
Orthopedic Orthotics Market: Report Overview
This report gives readers a comprehensive regional and global-level analysis & forecast on the orthopedic orthotics market, in terms of value (US$ Mn), for the period of forecast 2018 to 2026. Crucial business dynamics such as social, political and economic factors that impact the requirements and demand for orthopedic orthotics products have been examined and gauged in the report.
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A complete value chain analysis on the orthopedic orthotics industry has been included in the report, and data has been used to help the readers better understand the competitive scenario among leading as well as new market players. A market attractiveness analysis has also been added to the report, where all applications have been benchmarked on the terms of aspects such as market size, growth rate and general attractiveness.
Orthopedic Orthotics Market: Research Methodology
Exhaustive discussions and in-depth interviews have been conducted with a number of eminent opinion leaders and industry experts in order to compile this report. Primary and secondary research methodologies have been used extensively, which has helped greatly in the gathering of reliable intelligence on the orthopedic orthotics market. Primary research represents the bulk of the research efforts, which has been supported and validated by extensive secondary research.
Leading companies and new entrants in the orthopedic orthotics market have been reviewed, while data sources such as annual reports, press releases and other relevant documents have been effectively utilized for extracting an accurate analysis on the market's competitor landscape. The research approach employed here has been proven to be very efficient in recognizing precise information on the market data, insights on the industry participants, and unexplored business opportunities.
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