According to the business intelligence report titled ‘Global Orthotics Market - Analysis By Function (Static, Dynamic), Anatomical Position, End User, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2027)’, available with MarketStudyReport, global orthotics market which accumulated USD 3.81 billion in 2021 is projected to record a robust growth rate throughout the forecast period 2022- 2027.

Growing burden of chronic ailments, rising geriatric population, and burgeoning sports injury incidences are the primary factors propelling the growth of global orthotics industry.

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Moreover, advancements in healthcare infrastructure, mounting research & development activities that bring forth new products are likely to uncover new prospects for market expansion during the forecast timeframe. Besides, increasing adoption of universal health coverage policies in both developed and developing nations is enhancing the industry outlook. 

Moving on, the marketplace is bifurcated on the basis of function, anatomical position, end user scope, and geographical terrain. A meticulous segmental analysis that evaluates every division individually is included in the document.

However, the ongoing Covid -19 pandemic has significantly slowed global orthotics market progression, with companies witnessing a decline in revenue generation due to lack of patient admission in clinics and hospitals over doubts regarding safety.

As per the report, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are the major regional contributors to the market development.

North America industry is anticipated to gain substantial traction during 2022-2027, attributable to surge in the incidences of chronic diseases like cardiovascular ailments and neurological disorders that result in spinal injury or affect the nervous system of
a person.

Trulife Inc., Colfax Corporation, Chas A. Blatchford & Sons Ltd., Orthofix Company, Ossur hf., Ottobock SE & Co. KGaA, Fillauer Companies Inc., DeRoyal Industries, Bauerfeind AG, and Thuasne USA are the prominent players in global orthotics marketplace.

These companies are directing continuous efforts towards broadening the areas of revenue generation on the back of strategic alliances or acquisition deals that aim at bringing out a new product into the industry space.