SAN FRANCISCO, November 13, 2018
SAN FRANCISCO, November 13, 2018 /PRNewswire/ --
The global prosthetics and orthotics market size is expected to reach USD 12.28 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 5.1% CAGR during the forecast period. Increasing incidence of sports injuries, rising incidence of osteosarcoma, and expanding geriatric population base are key factors driving market growth.
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Rising geriatric population across the globe has become one of the key factors driving demand for prosthetics and orthotics. For instance, as per the United Nations, the number of people aged 60 years or over globally is expected to more than double by 2050, increasing from 962 million in 2017 to 2.1 billion in 2050. Geriatrics are more susceptible to conditions such as osteoporosis and osteopenia, making them common users of various orthopedic solutions.
Increasing incidence of osteosarcoma in young adults and children is also driving the market to a great extent. For instance, Children with Cancer UK, a member of the Association of Medical Research Charities (AMRC), reported that osteosarcoma is the most common bone tumor in children and every year around 30 new cases in children are diagnosed in U.K. Osteosarcoma is generally treated with the help of chemotherapy, surgery, and radiation. Patients recovering from this surgery generally need orthopedic devices and prosthetics as a part of post-surgery treatment, which is slated to drive the market in the upcoming years.
Browse full research report with TOC on "Prosthetics and Orthotics Market Size, Share & Trends Analysis Report By Type (Orthotics (Upper Limb, Lower Limb, Spinal), Prosthetics (Upper Extremity, Lower Extremity), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/prosthetics-orthotics-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global prosthetics and orthotics market on the basis of type and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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