Orthotic devices Market to Soar in the Near Future Owing to Growing Consumer Adoption

Braces, splints, and other artificial external devices are examples of orthotic devices that are routinely used to treat upper and lower extremity disorders, particularly in individuals with spina bifida, muscular dystrophy, and multiple sclerosis. Growth in the geriatric population susceptible to osteoporosis, osteoarthritis, and other bone disorders, as well as an increase in the prevalence of bone injuries and sports-related injuries due to increased physical health consciousness, are expected to drive the growth of the global optical fibres in endoscopy market. However, the high cost of personalised orthotic devices is projected to limit market expansion.

One of the primary reasons for the increased use of orthotic devices is the growth in the incidence of arthritis. According to the Arthritis Foundation, in the United States, knee osteoarthritis (OA) grows every decade, primarily in the age group 55 to 64 years. In 2016, around 14 million people in the United States had symptomatic knee osteoarthritis.

However, orthotic device are relatively bulky in nature, which is one of the major factors that is expected to hamper the global orthotic devices market growth over the forecast period. For instance, orthotic braces are bulky, and requires more energy to move. Also, the children with Cerebral Palsy, wearing a brace can be a difficult experience if they have deformities. Hence, it may discourage patient from buying these bulky device, which is expected to reduce demand of orthotic devices.

Furthermore, high cost associated with the custom orthotic devices is expected to hinder the global orthotic devices market growth. For instance, the cost of custom orthotic devices typically ranges between US$ 300 and US$ 600.

Key players operating in the global orthotic devices market include Aspen Pharmacare Holdings Limited, Zimmer Biomet, Chas A Blatchford & Sons, Össur Corporate, Ottobock, The Ohio Willow Wood, SP Ultraflex Systems Pvt. Ltd., Howard Orthopedics, Inc., Bauerfeind USA, Inc, and Touch Bionics, Inc.