Orthosis and prosthetics play a vital role in improving mobility and quality of life for disabled individuals. Orthosis such as knee braces, back braces, arm supports etc help patients in attaining mobility and stability while prosthetics provide physical support to amputees. The China orthosis and prosthetics market witnesses high demand due to rapid growth in elderly population and rising incidences of disability. Other factors contributing to market growth include increasing healthcare spending, growing reimbursement rates and technological advancements.
The China Orthosis and Prosthetics Market Demand is estimated to be valued at US$ 2113.57 Mn in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period from 2024 to 2030.
Key Takeaways
Key players operating in the China Orthosis and Prosthetics are RETAL Industries Ltd., Plastipak Holdings, Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, and Resilux NV. Orthosis such as braces, supports etc helps patients in attaining mobility by providing physical support and stability to injured or disabled body parts. Prosthetics are artificial devices that replace missing or non-functional body parts providing a functional alternatives. The rising geriatric population along with increasing prevalence of chronic diseases such as diabetes, obesity etc has fueled the demand for orthosis and prosthetics in China.
The increasing accessibility of medical reimbursements in China has boosted the affordability of orthosis and prosthetic devices. Various government initiatives to provide healthcare coverage has driven the adoption of orthosis and prosthetics. For instance, the National Healthcare Security Administration of China provides basic medical insurance to both urban and rural residents covering a portion of orthosis and prosthetics costs.
Globally, China dominates the orthosis and prosthetics market owing to large patient pool and rapid economic growth. Manufacturers are expanding their manufacturing footprint in China to further tap into the lucrative market opportunities. Foreign players are also partnering with local Chinese companies for establishing manufacturing and distribution networks in the country. The growing medical devices industry coupled with favorable regulations is expected to drive higher investments in the China orthosis and prosthetics market.
Market Key Trends
The increased usage of 3D printing technology for developing customized orthosis and prosthetic solutions is one of the key trends observed in the China orthosis and prosthetics market. 3D printing helps in accurate scanning of patient's residual limb and producing a uniquely fitted prosthetic device. It aids in addressing complex cases and improves cosmetic match. Additionally, 3D printed implants offer benefits such as reduced production time, lower costs and on-demand manufacturing over traditional socket interface technologies. This trend is positively impacting the market growth and is expected to revolutionize the orthosis and prosthetics field.
Porter’s Analysis
Threat of new entrants: High investment costs and specialized technology for production acts as significant entry barrier.
Bargaining power of buyers: Large number of established orthotic and prosthetic companies offers buyers more choice and lower prices.
Bargaining power of suppliers: Availability of wide variety of raw materials from different suppliers gives them lower bargaining power.
Threat of new substitutes: Emerging technologies like robotic limbs pose threat of substitution but high costs currently limit their adoption.
Competitive rivalry: Intense competition among large number of domestic and international companies to gain market share.
Geographical Regions
China's orthosis and prosthetics market is concentrated in eastern regions due to availability of advanced healthcare infrastructure and high population density. Cities like Beijing, Shanghai, Guangzhou and Shenzhen account for over 60% of the national market value.
Southeast region growing at the fastest pace driven by rising medical expenditure, increased healthcare access and growing elderly population in provinces of Fujian, Guangdong and Hainan. Expanding hospital networks and focus towards indigenous research and production also contribute to its growth.
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