Global Orthopedic Orthotics Market to Reach $4.7 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on the Orthopedic Orthotics market. The global market for orthopedic orthotics is projected to reach US$4.7 billion by the year 2015, driven by an aging global population, and increasing incidence of conditions such as diabetes, arthritis and obesity.

Orthopedic Orthotics: A Global Strategic Business Report

Several macro and market specific trends contribute to the growth of the global orthopedic industry. Macro demographic factors continue to drive growth in the overall industry, which, in turn are boosting demand for ancillary/adjunctive/conjunctive devices. The orthopedic orthotics market, consisting of ancillary devices used post-operatively as well as for non-operative functions, is being bolstered by the growth in the parent orthopedic industry.

The United States, Europe and Japan account for a lion’s share of the orthopedic orthotics market, as stated by the new market research report on orthopedic orthotics. Changing consumer profile, together with rising disposable incomes, expanded coverage of health insurance and public health programs world over, spells healthy growth for the worldwide orthopedic orthotics industry. Increasingly active lifestyles of people, and rising occurrence of vascular diseases due to obesity are driving growth in the orthopedic orthotics market. However, the global economic meltdown, increasing availability of pain medications, continuous developments and improvements in invasive procedures are likely to restrict the extent of growth.

Value-added functionalities, along with technically advanced materials, are triggering higher use of orthopedic support devices. The market consists of a variety of products ranging from those that meet highly specific clinical needs to inexpensive over-the-counter devices. Revolutionary improvements in the material and modeling technologies have eased the task of customizing and /or standardizing specifications of orthotic devices, extended the lifespan of products, enhanced the pliability or rigidity of braces in accordance with consumer needs. The US constitutes the largest market for orthopedic braces. Repetitive stress injuries and increasing number of implant surgeries are primed to boost sales of orthotic braces geared for these implications. Growing incidence of injuries as a result of an active aging population is one of the major factors spurring non-operative use of orthopedic braces and supports.

One of the key characteristics of the orthotics segment is consistent demand stemming from recurrent replacement and modification of products. An average orthotic device lasts for one to three years, and needs to be replaced on a periodic basis, thus ensuring continuous demand for orthotic devices. Currently, orthotic devices are being made more durable, effective and lightweight through advanced graphite and carbon fiber materials. Moreover, products are turning more sports-specific with specialized devices for individual sports.

The global orthopedic orthotics market comprises both niche companies as well as large diversified orthopedic companies. Major players profiled in the report include Biomet Inc., Bledsoe Brace Systems, BSN Medical Gmbh & Co. KG, DeRoyal Industries, DJO Incorporated, Orthofix International NV, Ossur hf., and Zimmer Holdings Inc.

The research report titled “Orthopedic Orthotics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a review of key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections for the years 2007 through 2015, and 2000 to 2006 by the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key segments and sub-segments analyzed include Orthopedic Braces (Knee Braces, Ankle Braces and Others) and Orthopedic Support Devices.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Orthopedic_Orthotics_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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