Global Orthopedic Prosthetics Market will be US$ 2.72 Billion by 2025 | Renub Research
Global Orthopedic Prosthetics Market will be US$ 2.72 Billion by 2025. In medicine, a prosthetic is an artificial device that replaces human body parts such as hands, legs, knee, ankle, hip, elbow, etc.
By: Renub Research
The market for Global Orthopedic Prosthetics Market is increasing year on year according to Renub Research analysis; the market is forecasted to be US$ 2.72 Billion by the end of the year 2025. Growth factors for this market are the prevalence of diabetics and rising sports injuries. North America is leading the market as compared to other regions of the world. The use of electric-powered, conventional and hybrid orthopaedic prosthetics are driving the market. According to Renub Research analysis, electric-powered orthopaedics will have significant market share. Innovation in medical devices and increasing per capita income, as well as financial support by government and NGOs around the world, are enabling the patient to buy orthopaedic prosthetics devices without any hurdle.
The impact of COVID-19 on Global Orthopedic Prosthetics Market
The growth rate of the global orthopaedic prosthetics market has been disturbed by COVID-19 pandemic as most of the healthcare companies are investing heavily in the research and development of Coronvirus treatment. The market for Global Orthopedic Prosthetics Market will decline in the year 2020 as a result of lockdown imposed by government authorities.
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