Be the first to like this
The global orthotic devices market has been segmented into prefabricated over-the-counter and custom-made devices. These segments are further classified by type of device, by area of fit/use, by end …
The global orthotic devices market has been segmented into prefabricated over-the-counter and custom-made devices. These segments are further classified by type of device, by area of fit/use, by end users, by method of manufacturing and by type of materials used, providing exhaustive value analysis for the years 2013, 2014 and forecast to 2020. The end user applications for the orthotics devices are segmented into five categories, namely, Injuries, Chronic diseases, Support applications for aging population and post-operative rehabilitation, disabilities and pediatric orthotics. Each segment of the orthotic device market is analyzed expansively at micro level by geography (North America, Europe, Asia Pacific and Rest of the World) to provide a detailed perspective on the global orthotic device market scenario.
According to the IndustryARC analysis, DJO Global, Inc. and Otto Bock Holding GmbH& Co. Kg dominated the competitive landscape of the global orthotic devices market in 2013. The top five companies together held a share of over 60% in the global market, with companies such as Össurhf, DeRoyal Industries, Inc. and Bauerfeind AG contributing to the market share.
The global orthotic devices market has shown three-fold growth with respect to the number of product launches between 2012 & 2014 (as of June 2014). By end of the year 2014, the total number of product launches is expected to cross 25, with majority of the new product lines focused on patient’s comfort, durability and cost-effectiveness. Major launches were by companies such as Orthofix International, Otto Bock, Össur, Otto Bock and Becker Orthopedic. The main features that were similar in all the recent launches were light-weight, low-friction and pain management technologies.
In 2013, the new products launched by the key players in the market were knee orthotics, foot correction orthotic insoles and arch liners, and other orthotics using light-weight materials and innovative fabrics. In March 2014, BauerfeindAG launched three new sports foot orthoses based on patented weightflex technology: ErgoPad ball & racket for ball and racket sports, ErgoPad run & walk for running and walking, and ErgoPad ski & skate for winter sports. In June 2014, Becker Orthopedic launched Stride4 Shadow, a lightweight, mechanical stance control KAFO. In May 2013, Otto Bock launched a new electronicknee Joint: 3E80 in India. In January 2014, Ottobock also launched Patella PRO Orthosis.