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The prosthetics and orthotics market size is forecast to increase by USD 2.86 billion at a CAGR of 5.68% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. Advancements in technology, including the integration of robotics and artificial intelligence, are leading to more natural-appearing and effective prosthetic and orthotic solutions. Additionally, the increasing prevalence of orthopedic disorders, such as those caused by obesity and unhealthy lifestyles, is driving demand for these devices. In developed healthcare systems, favorable reimbursement scenarios are also contributing to market growth. However, high costs remain a challenge for many individuals and healthcare facilities, particularly in developing and underdeveloped regions. Eco-friendly solutions are also becoming increasingly important as consumers and healthcare providers seek sustainable options.
Moreover, in the US, digital health systems are also playing a role in increasing access to prosthetic and orthotic devices, particularly in rural areas where healthcare facilities may be limited. Key market trends include the adoption of more advanced materials and manufacturing techniques, as well as the integration of sensors and other smart technologies to improve pain reduction and overall functionality.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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