The global orthotic market is expected to reach $3.5 billion in 2021

GlobalData said in the report that the orthotic market will grow in the 10 major markets of the United States, France, Germany, Italy, Spain, the United Kingdom, Japan, India, China and Brazil, with a moderate 4.6% year. Compound growth rate. The United States continues to dominate the orthotics market and will maintain a 50% market share over the next six years.

Jennifer Ryan, an analyst with GlobalData, points out that the demand for orthoses is increasing, reflecting the rising proportion of people who benefit from the use of orthodontic devices, which means that the number of patients and the elderly after surgery is increasing. Ryan continues to explain that this market is dominated by knee stents, and the upper limb stent market is expected to grow at the fastest rate, with a compound annual growth rate of 5.1% over the next six years. However, in some developing countries, for those patients who need expensive orthopaedic equipment, their medical expenses are reimbursed for little or no reimbursement of medical expenses, which will limit the expansion of the market in these areas.

Analysts stressed that as the number of orthopaedic device indications expands, manufacturers are also working to expand their product portfolio to be able to tailor the product to specific indications. However, the global market is relatively fragmented, with many small players. Those large companies that have gained a certain reputation have occupied most of the market with their famous brands and reliable products, including DJO, Bauerfeind, Breg, Ossur and Ottobock.

Small companies are often successful in an immature market. In these markets, local products have a large advantage over cheaper prices compared to the use of imported branded equipment. However, some key opinion leaders interviewed by GlobalData pointed out that consumers in the orthotic market lack loyalty to products because doctors need to choose as many opportunities as possible to meet the needs of different types of patients, which means that new companies have access. Opportunities in this therapeutic area.

Food Grade Gelatin

Food Grade Gelatin,Food Additives Gelatin,Bovine Gelatin Powder,Edible Gelatin Powder

Hebei Haodong Biological Technology Co.,Ltd. , https://www.hdgelatin.com