The size of the orthopedic orthotics market in Europe is predicted to grow at a CAGR of 5.2% between 2023 to 2028 and be worth USD 495 million by 2028 from USD 384 million in 2023.
The growing geriatric population and the increasing population suffering from osteoarthritis across Europe are majorly fuelling the growth of the orthopedic orthotics market in Europe. As per the statistics published by Eurostat, an estimated 21.1% of the total European population was aged above 65 years. With the increase in age, most people notice changes in their posture and walking pattern. Skeletons play a significant role in providing perfect structure to the body. They allow flexibility to the body for doing daily activities. Along with this, an increase in age also result in loss of bone mass and reduces calcium and minerals in bones. As a result, healthcare providers suggest all these people use orthotics devices for foot pain, deformities, fractures, post-surgical stabilization, spinal cord injuries, and multiple sclerosis.
The rising number of accidents and increasing prevalence of sports injuries are further propelling the orthopedic orthotics market growth in Europe. The growing use of automobiles and increasing traffic are the leading cause for occurring accidents in the European region. Due to heavy practice and injuries during sports, sports people also use these orthotic devices to gain grip and reduce pain while participating in sports. Considering all these factors, the market has the highest growth during the forecast period.
The growing number of R&D activities by the key market participants to develop innovative and effective orthotic devices and products contribute to the regional market growth. Manufacturers and critical players in the region focus on developing devices with customization features. They also use quality materials at an affordable cost to increase the adoption of orthotic devices for various leg issues and diseases. Increasing research and development, increasing reimbursement policies, and increasing product approval support regional market growth.
On the other hand, the high costs associated with orthotic devices are the primary factor restraining the market growth during the forecast period. In addition, side effects of using orthotic devices, such as itching and pain, lack of skilled professionals, lack of awareness, fitting-related issues, and long-time approval for novel products are further hindering the growth rate of the European market.
This research report on the Europe orthopedic orthotics market has been segmented and sub-segmented into the following categories.
By Product:
By Application:
By Material:
By Distribution Channel:
By Country:
Europe is a noteworthy region for orthopedic orthotics worldwide and held the second largest share of the worldwide market in 2022 and is expected to grow at a healthy CAGR during the forecast period owing to the increasing government support for the approval of advanced products for arthritis and increasing healthcare expenditure by the population, a growing number of manufacturing facilities, rising awareness campaigns about the availability of various orthopedic orthotics devices for various joint issues and increasing advertisement about the devices through television and social media.
The UK captured a notable share of the European market in 2022 and is expected to grow at a promising CAGR during the forecast period owing to the growing number of training centers for orthopedic orthotics devices. In addition, the availability of online products is further fuelling the growth rate of the UK market.
Germany held a considerable share of the European market in 2022 and is estimated to witness a prominent CAGR during the forecast period owing to the growing number of manufacturing facilities in Germany. The German manufacturers collect data from the hospitals to know about various types of joint and bone issues and develop devices or products as per the requirement taken from the healthcare specialists and researchers. Most manufacturers are focused on developing an orthotic insole, which is used for several purposes such as sports-related, home, and other types for better grip and comfort.
KEY MARKET PLAYERS:
DJO Global, Inc., Ottobock, Orthofix Medical, Ossur, DeRoyal Industries, Medi GmbH & Co. KG, Biomet, Inc., akamura Brace Co. Ltd., Thuasne SA and Aspen Pharmacare Holdings Limited are some of the notable companies in the European orthopedic orthotics market.
Frequently Asked Questions
Factors driving the growth of the European orthopedic orthotics market include an increase in the prevalence of musculoskeletal disorders, a growing elderly population, technological advancements in orthotic devices, and rising demand for personalized orthotic devices.
Some challenges faced by the European orthopedic orthotics market include strict regulations for medical devices, product recalls due to technical issues, and the high cost of orthotic devices.
Key companies operating in the European orthopedic orthotics market include Össur, DJO Global, Bauerfeind, Basko Healthcare, and Thuasne.
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