Orthotic Devices Market: high applications for as supporting equipment and for chronic diseases
Orthotic devices are used to externally to control and modify physical deformities or treat malfunctioning of the body parts. These devices are used as corrective or supportive device. The Orthotic Devices Market deals with demand and supply of the different types of orthotic devices, production of OTT and custom orthotic equipment and scope of orthotic devices in various regions during 2015-2020.
The rapid increase in elderly population, high incidence of chronic illnesses, and disabilities, rise in sports injuries and growing awareness among the people are the driving factors of the Orthotic Devices Market across the globe during 2015-2020. AFO is one of the highly demanded devices among other orthotics and prosthetics equipment.
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North America is the dominating market region of orthotic devices and will continue to lead the Orthotic Devices Market in future through 2020. The major causes driving the market in this region are increase in incidences of chronic diseases that includes diabetes, arthritis and cancer.
Europe and APAC are the other leading regions of the Orthotic Devices Market. The major driving factor for growth of this market in Europe is rapidly aging population as well as availability of a wide patient pool requiring urgent orthotic support and attention. Where as in APAC, the region has a large chunk of global population, thus it is creating a huge market scope for orthotic devices.
Segmentation and key players of Orthotic Devices Market:
According to the IndustryARC market research report, the Orthotic Devices Market is segmented into various categories by method of manufacturing, by type of device, by end user application and by geography.
By method of manufacturing: prefabricated over the counter (OTC) orthotic devices and custom orthotic devices
By type of device: knee braces and supports, ankle braces and supports, upper extremity braces and supports, spinal braces and supports and foot insoles
By end user application: injuries, chronic diseases, support applications, disabilities and pediatrics
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Orthotic Devices Market as mentioned in the IndustryARC market research report are as follows:
- DJO Global Inc. (U.S.)
- Otto Bock Holding GmbH & Co. KG (Germany)
- Ossur hf. (Iceland)
- Bauerfeind AG (Germany)
- DeRoyal Industries, Inc. (U.S.)
The Orthotic Devices Market is a rapidly growing market owing its growth to rise in elderly population and the increasing patients with chronic illnesses. This is a profitable market for investment with high demand of orthotic devices in various regions across the globe during 2015-2020.
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