SEATTLE, May 27, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, China orthosis and prosthetics market is estimated to be valued at US$ 1,509.4 million in 2020 and is expected to exhibit a CAGR of 5.0% during the forecast period (2020-2027).
Key Trends and Analysis of the China Orthosis and Prosthetics Market:
Key players are focused on launching new products, which is expected to boost the China orthosis and prosthetics market growth. For instance, in June 2018, Össur announced the launch of Össur Formfit Pro, a range of 3D devices developed for people suffering from musculoskeletal conditions or ailments such as knee osteoarthritis (OA). The Össur Formfit Pro includes Formfit Pro Knee, Formfit Pro Knee OA, Formfit Pro Wrist and Formfit Pro Ankle, Formfit Pro Elbow, and Formfit Pro Back.
Furthermore, technological advancements in orthosis and prosthetic devices ais also expected to propel China orthosis and prosthetics market growth. Myoelectric prosthesis are externally powered prostheses, which are controlled through the signals generated by the body’s muscles. An electric tension in microvolt range is generated through a biochemical process whenever the muscles contracts. This tension can be measured on the skin which is amplified and transferred as control signals to the electronics present in the prosthesis. For instance, Bebionic Hand offered by Ottobock is an example of myoelectric prosthesis.
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Market players are engaged in growth strategies such as geographical expansions to maintain a competitive edge in the market. For instance, in December 2020, Xiamen Huakang Orthopedic Co., Ltd., a China-based manufacturer and supplier of orthopedic braces established a new factory in the country for orthopedic rehabilitation products such as ankle foot orthosis, ankle splints, walker braces, knee braces, hip abduction, LSO spinal back braces, waist belt, shoulder immobilizer arm slings, elbow braces, wrist brace thumb spica, finger braces, cervical collar, and others.
Key players are focused on inorganic strategies such as acquisitions and agreements, in order to strengthen their business and product offerings. For instance, in February 2019, Össur acquired powered prosthetic ankle technology from SpringActive, Inc., a provider of human performance augmentation devices for the development of powered ankle prosthesis.
Key Market Takeaways:
China orthosis and prosthetics market is expected to exhibit a CAGR of 5.0% during the forecast period (2020-2027), owing to the increasing technological microprocessor controlled prosthesis use, a complex system of sensors and motors to provide easy functionality to the limbs. For instance, microprocessor knees ensure stable navigation through hills, ramps and other uneven terrain. The sensors in these prosthesis measure pressure in different parts of the foot and send messages to hydraulic damping system and to micro-motors which act accordingly. For instance, Genium knee prosthetic system offered by Ottobock are microprocessor-controlled prosthetics.
Competitive Landscape:
Key players operating in the China orthosis and prosthetics market include Ottobock, Össur hf, Teh Lin Pros. & Ortho. Inc., Shijiazhuang Wonderfu Rehabilitation Device Technology Co., Ltd., Hebei Baisite Prosthetic Orthotic Technology Co., Ltd., Beijing Jingbo Prosthetics & Orthotics Technical Co., Ltd., Nobel China Limited, Shijiazhuang Aofeite Import & Export Co., Ltd., e-Life International Co., Ltd., Rehan International Co., Ltd., and Xiamen Huakang Orthopedic Co., Ltd.
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Market Segmentation:
- China Orthosis And Prosthetics Market, By Product Type:
- Orthosis
- Knee Ankle Foot Orthoses (KAFO)
- Wrist Hand Orthoses (WHO)
- Foot Orthoses (FO)
- Ankle Foot Orthoses (AFO)
- Elbow Orthosis (EO)
- Hip Knee Ankle Foot Orthoses (HKAFO)
- Shoulder Orthoses
- Upper Limb Orthoses
- Others
- Prosthetic
- Below Knee (BK) – Transtibial
- Above Knee (AK) – Transfemoral
- Upper Extremity (UE) - Transradial, Transhumeral
- Orthosis
- China Orthosis And Prosthetics Market, By Age Group:
- Pediatric
- Adult
- China Orthosis And Prosthetics Market, By Indication:
- Lower Limb Deformities
- Upper Limb Deformities
- Others (Spinal)
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Nanoengineered Prosthetics Market, by Material (Calcium Hydroxyapatite Nanoparticles (Pastes, Powders, Blocks, Granules, and Injection), Carbon Nanotubes, Titanium Oxide, and Others), by Application (Orthopedic Prosthetics, Neuroprosthetics, Myoelectric Prosthetics, Dental Implants, Cardiovascular Implants, and Others), by End User (Hospitals, Ambulatory Surgical Centers, Aesthetic Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
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Orthopedic Prosthetic Market, By Product Type (Upper Extremity Prosthetics (Hand Prosthetics, Elbow Prosthetics, Shoulder Prosthetics), Lower Extremity Prosthetics (Foot & Ankle Prosthetics, Knee Prosthetics, Hip Prosthetics), Liners, Sockets, Modular Components), By Technology (Conventional, Electric Powered, Hybrid Orthopedic Prosthetics), By End User (Hospitals, Prosthetic Clinics, Rehabilitation Center, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
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