3D Orthopedics/Prosthetics Market 2024 Growth, Size, Share And Industry Insights


Posted March 1, 2024 by sushmithatbrc

The 3d orthopedics/prosthetics market size is expected to see strong growth in the next few years. It will grow to $1.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
 
The 3D Orthopedics/Prosthetics by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In accordance with The Business Research Company's insightful analysis on 3D Orthopedics/Prosthetics, the market has exhibited robust growth, surging from $0.97 billion in 2024 to an anticipated $1.04 billion by the end of the same year, reflecting an impressive Compound Annual Growth Rate (CAGR) of 7.4%. This remarkable expansion in the historical period is attributable to heightened disability rates, augmented demand for orthopedic medical devices, increased prevalence of joint replacement surgical procedures, technological advancements, escalating healthcare expenditure, and the flourishing growth of emerging markets.

Forecasts for the 3D Orthopedics/Prosthetics market project a continued trajectory of substantial growth, poised to reach $1.38 billion by 2028, maintaining a steadfast CAGR of 7.4%. The anticipated surge in the forecast period is underpinned by demographic shifts, particularly the rise in the geriatric population, a surge in diabetes-related amputations, heightened occurrences of road accidents and sports injuries, and an escalating demand for solutions related to joint reconstruction disorders. Notable trends in this forecast include the integration of smart wearables for precise prosthesis control, emphasis on eco-friendly alternatives, utilization of artificial intelligence to analyze a patient's distinct anatomy, incorporation of Internet of Things (IoT) solutions for surgical data monitoring, customization of implants through innovative biomaterials, and technological advancements geared towards enhanced efficiency and outcomes.

The increase in number of trauma cases and accidental injuries is contributing to the growth of the 3D orthopedics/prosthetics market. The use of artificial limbs (prostheses) to improve the function and lifestyle of people who have lost limbs is known as orthopedic prosthetics. To match the functional needs of the individual, the prosthesis must be a unique mixture of appropriate alignment, construction, materials, and design. For instance, according to Hanger, Inc., a US-based company that provides prosthetic and orthotic care devices, in April 2021, the number of Americans living with the loss of a limb due to trauma cases and accidental injuries is more than 2 million, and by the year 2050, a staggering 3.6 million people will be living with limb loss in the USA. Therefore, the increasing number of trauma cases and accidental injuries drives the market for 3D orthopedics/ prosthetics.

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The 3d orthpedics/prosthetics market covered in this report is segmented –
1) By Product Type: Upper Extremity Orthopedic & Prosthetics, Lower Extremity Orthopedic & Prosthetics, Other Product Type
2) By Technology: Conventional, Electric-powered, Hybrid
3) By End User: Hospitals, Orthopedic And Prosthetic Centers, Rehabilitation Center, Other End-Users

A significant development within the 3D Orthopedics/Prosthetics landscape is the growing adoption of smart wearables. These innovative devices leverage robotics and artificial intelligence to intricately regulate prostheses, decoding electric nerve signals from the patient's muscles through advanced algorithms. A notable illustration is Esper Bionics, a pioneering New York-based engineering startup, which, in February 2022, introduced a prosthetic arm featuring intuitive self-learning technology surpassing its counterparts in predicting intended movements. The Esper Hand, operated through a brain-computer interface (BCI) based on electromyography, embodies cutting-edge technology capturing and interpreting brain activity. This breakthrough allows wearers to seamlessly control the prosthetic by sending signals to specific muscles, thereby revolutionizing the landscape of 3D Orthopedics/Prosthetics.

The 3d orthopedics/prosthetics market report table of contents includes:
1. Executive Summary
2. 3D Orthopedics/Prosthetics Market Characteristics
3. 3D Orthopedics/Prosthetics Market Trends And Strategies
4. 3D Orthopedics/Prosthetics Market - Macro Economic Scenario
5. Global 3D Orthopedics/Prosthetics Market Size and Growth
.....

32. Global 3D Orthopedics/Prosthetics Market Competitive Benchmarking
33. Global 3D Orthopedics/Prosthetics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The 3D Orthopedics/Prosthetics Market
35. 3D Orthopedics/Prosthetics Market Future Outlook and Potential Analysis
36. Appendix

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Last Updated March 1, 2024