Orthosis and prosthetics are medical devices designed to support weak or ineffective joints or limbs. They help regain motor function capabilities that have been compromised due to illnesses, injuries or congenital disorders. Orthosis bracing involves using external devices like braces, splints or supports to correct deformities and improve mobility.
The global China Orthosis and Prosthetics Market is estimated to be valued at US$ 2113.57 Mn in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption of orthopedic devices in China is one of the key trends driving the growth of the orthosis and prosthetics market. There has been a significant rise in bone and joint disorders such as osteoarthritis, osteoporosis, rheumatoid arthritis etc. in China owing to increasing geriatric population, sedentary lifestyle and obesity. Moreover, the number of road accidents have also increased rapidly over the past few years causing severe injuries and disabilities. This has fueled the demand for orthosis and prosthetic devices in the country for mobility aid and rehabilitation. Advanced materials and technologies are being utilized to manufacture innovative orthopedic braces, prosthetic limbs and other devices with better functionality and comfort. The growing preference for minimal invasive treatments and rapid recovery is further propelling the demand for orthosis and prosthetics in China.
SWOT Analysis
Strength: The China market has large population base requiring orthosis and prosthetics. Growing geriatric population and rising cases of limb loss and disabilities will drive the demand.
Weakness: High costs associated with advanced orthosis and prosthetics restrict adoption. Lack of awareness about latest technologies in rural areas.
Opportunity: Increasing healthcare spending can boost market. Government initiatives to improve access to rehabilitation services offers growth prospects.
Threats: Threat from alternative treatment therapies. stringent regulatory policies delay product approval and market entry.
Key Takeaways
The China Orthosis And Prosthetics Market Size is expected to witness high growth. The market size for 2024 is US$ 2113.57 Mn and forecasted to grow at a CAGR of 3.9% during the forecast period of 2024 to 2031.
Regional analysis comprises
The North region dominates China Orthosis and Prosthetics market currently. Factors such as advanced healthcare infrastructure, growing medical tourism and major presence of leading players have strengthened North region's position in the market. East region is projected to witness fastest growth during the forecast period owing to rising geriatric population, increasing investment in healthcare services and growing awareness.
Key players
Key players operating in the China Orthosis and Prosthetics market are RETAL Industries Ltd., Plastipak Holdings, Inc., ALPLA Werke Alwin Lehner GmbH & Co KG. These players are focusing on new product launches, acquisitions and partnerships to strengthen their presence and manufacturing capabilities in the China market.
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