Orthotic Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Orthotic Devices Market By Functionality (Static Orthotic Devices and Dynamic Orthotic Devices), By Product Type (Upper Limb Orthotic Devices [Shoulder, Elbow, Hand & Wrist, and Finger], Lowerlimb Orthotic Devices [Foot & Ankle, Knee, Hip, and Others], Spinal Orthotic Devices [Cervical Orthotic Devices (Co), Lumbosacral Orthotic Devices (Lso), and Others]), By Customization (Prefabricated and Customized), and By End User (Hospitals & Clinics, Ambulatory Surgical Centers, Homecare Settings, and Others), By Geography is expected to grow at a steady CAGR forecast till 2027 owing to the rising geriatric population and increasing prevalence of neuromuscular disorders.

Global Orthotic Devices Market was valued at USD 2.51 billion in 2021, growing at a CAGR of 5.13% during the forecast period from 2022 to 2027 to reach USD 3.38 billion by 2027. Factors such as the growing prevalence of degenerative bone disorders, rising prevalence of neuromuscular diseases, increasing geriatric population, rising number of accident and trauma cases, and the rising number of sports-related injuries among other factors are expected to drive the orthotic devices market.

Orthotic Devices Market Dynamics:

One of the major factors driving the orthotic devices market is the rising geriatric population across the globe. Improving healthcare facilities and disposable incomes have been key factors in improving the quality of life and life expectancy in general. The elderly population is susceptible to numerous bone-related disorders and degenerative bone diseases. As per the United Nations in 2020, approximately 727 million people above the age of 65 years were living across the globe. It has been estimated that the elderly population is further expected to double in number reaching over 1.5 billion over the period of three decades. The elderly population is susceptible to develop degenerative bone disorders more frequently than younger population. Some of the common bone-related diseases are osteoarthritis, osteoporosis, scoliosis among others.

As per a study published in the Lancet Journal titled “Global, regional prevalence, incidence and risk factors of knee osteoarthritis in population-based studies” by Cui et al., in 2020, there were around 654.1 million individuals (40 years and older) with knee osteoarthritis worldwide. As per the aforementioned source, the pooled global incidence of knee OA was 203 per 10,000 person-years in individuals aged 20 and over. Additionally, in 2020, there were around annual 86.7 million individuals (20 years and older) with incident knee OA worldwide. Osteoarthritis (OA) is classified as an age-related disorder. It is commonly described as a chronic degenerative disease and is often associated as a consequence of aging. In OA, degradation and loss of the articular cartilage is a central feature that is sometimes attributed to "wear and tear". Individuals with osteoarthritis (OA) of the knee can be treated with a knee brace or a foot/ankle orthoses. The main purpose of these aids is to reduce pain, improve physical function and, possibly, slow disease progression.

Furthermore, besides the increase in geriatric population and degenerative bone diseases, there has been an increase in the number of people living with some form of disability, many of which include complications associated with neuromuscular disorders and need orthotic devices to carry on their day to day activity. According to the factsheet by the World Health Organization (WHO) on Disability and Health, in 2020, over one million people were living with some form of disability.

Orthotic devices are supportive devices that are used in providing support and aligning the affected anatomical region such as foot, shoulder, or the spine. These devices are defined or described by the area of the body that they are treating (e.g., ankle-foot orthosis [AFO]).

Diseases such as degenerative bone disorders and neuromuscular diseases majorly result in bone pains, dislocation, and render patients with weak muscles incapacitated to support themselves. These can drastically affect the quality of life of patients, where in orthotic devices are employed to offer relief and support to patients. Therefore, the rising geriatric population base, increasing incidence of neuromuscular disorders, and the growing prevalence of degenerative bone diseases are expected to aid in the growth of the orthotic devices market.

However, side effects associated with the prolonged usage of orthotics, and fitting-related issues with orthotics may prove to be certain restraints to the orthotics devices market growth.

Orthotics Devices Market Segment Analysis:

Orthotic Devices market by Functionality (Static Orthotic Devices And Dynamic Orthotic Devices), Orthotic Devices market by Product Type (Upper Limb Orthotic Devices [Shoulder, Elbow, Hand & Wrist, And Finger], Lower Limb Orthotic Devices [Foot & Ankle, Knee, Hip, And Others], Spinal Orthotic Devices [Cervical Orthotic Devices (CO), Lumbosacral Orthotic Devices (LSO), and Others]), Orthotic Devices market by Customization (Prefabricated And Customized), Orthotic Devices market by End User (Hospitals & Clinics, Ambulatory Surgical Centers, Homecare Settings, and Others), and Orthotic Devices market by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In product segment of the orthotics devices market, the lower limb orthotics devices category is expected to account for the significant market share during the forecast period. Lower limb orthotic devices are specialized external devices that are used in specific areas of the lower limb to correct an abnormal alignment or provide external support to the anatomical region. These include braces, insoles, splints or other devices. This can be attributed to the rising prevalence of neuromuscular indications among people. Neuromuscular ailments broadly refer to any disease or illness which affects the nervous system and muscles of the body. Many people living with a neuromuscular condition can experience muscle weakness. As a result, movement can become uncontrolled and lead to abnormal joint alignment. This can affect walking and other functional activities.

For example, stroke often results in weakness in the muscles that enable person in lifting the toes and bending the ankle. Weakness in this muscle group results in ‘foot drop' where the toes drag during walking and increases the likelihood of tripping and can result in permanent shortening of the calf muscle. The muscle shortening negatively impacts walking, and may even cause the knee to thrust backward (hyper-extend) thereby causing damage to the knee joint. In this example, an orthosis that might help is an ankle foot orthosis (AFO). It prevents the ankle from going into a ‘foot-drop' position. The key purpose of an orthosis in this example is to aid safe and efficient walking, reduce falls and improve independence. Some people with neuromuscular conditions may experience weakness in the muscles that move and stabilize the knee, for example, those with post-polio syndrome or spinal cord injury. Weak thigh muscles may result in uncontrolled bending of the knee which can result in a fall.

With the increasing number of movement-associated and neuromuscular disorders that severely impact the efficacy of lower limbs, these devices are expected to witness a high jump in their demand in the forecast period.

Among lower limb orthotics, knee ankle foot orthoses are expected to witness the highest growth in demand due to their extensive utilization by both pediatric and adult population as a rehabilitation measure in the management of various neuromuscular disorders.

North America is expected to dominate in the overall Orthotic Devices Market:

Among all the regions, North America is expected to account for the significant market share in the orthotic devices market. North America is predicted to account for the dominant market share because of the high prevalence of osteoporosis and other bone diseases, rising population of the elderly, increasing number of neuromuscular diseases as well as high awareness among people regarding disease management and ability to afford such devices and among other factors in the region.

One of the key factors supporting the growth of the North American orthotics devices market is the high prevalence of neuromuscular disorders. As per the data provided by the Muscular Dystrophy Organization (2021), the prevalence of Duchene Muscular Dystrophy is 6 per 100,000 individuals in North America. It is a rare neuromuscular disorders where in the muscles of upper arm, thighs, and hips are affected in early stages.

In addition, a recent epidemiological study conducted by the National Multiple Sclerosis Society in the United States estimated that approximately one million people were living with MS in the country (2020). MS is a neurological indication which leads to the weakening of limbs among other range of symptoms.

As per the facts provided by the National Safety Council (NSC), a US-based non-profit organization, in 2019, irrespective of the use of exercise equipment, exercise-related injuries accounted for about 468,000 injuries, the most of any category of sports and recreation. It was followed by bicycling with about 417,000 injuries, while basketball with 404,000 injuries, and football, with 292,000 injuries, ranked third and fourth.

The abovementioned facts point towards the presence of diverse patient pool in the country as well as region that may benefit from the utilization of orthotic devices. Furthermore, the well-established patient care system along with awareness among patients and caregivers regarding different types of orthotic devices is further expected to propel the North American orthotic devices market growth.

Furthermore, the prompt and well-established healthcare services and infrastructure further contributes to the growth of the regional orthotic devices market growth. Moreover, the presence of key players in the region and supportive reimbursement programs further provide immense growth opportunities for orthotic devices market.

Orthotic Devices Market Key Players:

Some of the key market players operating in the orthotic devices market includes Ottobock, Boston Orthotics & Prosthetics, LeTourneau Prosthetics and Orthotics, B BOUNDLESS BIOMECHANICAL BRACING INC., Becker Orthopedic, Trulife, Hanger Clinic, Fillauer LLC, Basko Healthcare, Bauerfeind, Breg, Inc, DJO, LLC, Acor Orthopaedic, Inc., Aspen Medical Products, LLC, Aetrex Worldwide, Inc. Allard USA Inc, Steeper Inc, ORTHOMERICA PRODUCTS, INC, Conwell Medical Co., Ltd, Kinetec Medical Products UK Ltd and others.

Key Takeaways from the Orthotic Devices Market Report Study

• Market size analysis for current orthotic devices market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the orthotic devices market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global orthotic devices market.
• Various opportunities available for the other competitor in the orthotic devices market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current orthotic devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for orthotic devices market growth in the coming future?

Target Audience who can be benefited from this Orthotic Devices Market Report Study

• Orthotic Devices products providers
• Research organizations and consulting companies
• Orthotic Devices-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in orthotic devices
• Various End-users who want to know more about the orthotic devices market and latest technological developments in the orthotic devices market.

Frequently Asked Questions for Orthotic Devices Market:

1. What is an Orthotic Device?

Orthotic devices are supportive devices that are used in providing support and aligning the affected anatomical region such as foot, shoulder, or the spine. These devices are defined or described by the area of the body that they are treating.

2. What is the market for Global Orthotic Devices?

Global Orthotic Devices Market was valued at USD 2.51 billion in 2021, growing at a CAGR of 5.13% during the forecast period from 2022 to 2027 to reach USD 3.38 billion by 2027.

3. What are the drivers for Global Orthotic Devices Market?

Factors such as the growing prevalence of degenerative bone disorders, rising prevalence of neuromuscular diseases, increasing geriatric population, rising number of accident and trauma cases, and the rising number of sports-related injuries among other factors are expected to drive the orthotic devices market.

4. What are the key players operating in Global Orthotic Devices Market?

Some of the major market players operating in the Orthotic Devices market comprises Ottobock, Boston Orthotics & Prosthetics, LeTourneau Prosthetics and Orthotics, B BOUNDLESS BIOMECHANICAL BRACING INC., Becker Orthopedic, Trulife, Hanger Clinic, Becker Orthopedic, Fillauer LLC, Basko Healthcare, Bauerfeind, Breg, Inc, DJO, LLC, Acor Orthopaedic, Inc., Aspen Medical Products, LLC, Aetrex Worldwide, Inc. Allard USA Inc., Steeper Inc, ORTHOMERICA PRODUCTS, INC, Conwell Medical Co., Ltd, Kinetec Medical Products UK Ltd, and others.

5. Which region has the highest share in Orthotic Devices market?

North America is expected to dominate the overall Orthotic Devices market during the forecast period, 2022 to 2027. North America is predicted to account for the dominant market share because of the high prevalence of osteoporosis and other bone diseases, rising population of the elderly, increasing number of neuromuscular diseases as well as high awareness among people regarding disease management and ability to afford such devices and among other factors in the region.


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