Lower extremity devices market projected to reach $1.28 billion by 2031: Allied Market Research

Associated Market Research

Associated Market Research

The increase in the number of patients suffering from bone degenerative diseases and the adoption of a modern lifestyle that can increase the risk of trauma and fractures have fueled the growth of the global lower extremity devices market. The Asia Pacific market is estimated to witness the highest CAGR of 7.6% during the forecast period. Compared to other surgeries, most orthopedic surgeries are elective and have therefore been postponed.

PORTLAND, OR, Nov. 15, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global market for lower extremity devices was set at $664.6 million in 2021 and is projected to reach $1.28 billion by 2031, which will grow at a CAGR of 6.8% from 2022 to 2031.

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Report coverage and details:

report coverage

details

forecast period

2022-2031

base year

2021

Market size in 2021

$664.6 million

Market size in 2031

$1.28 billion

CAGR

6.8%

Number of pages in the report

240

segments covered

Product, Application, Distribution Channel and Region

driver

Increase in the number of patients with bone degenerative diseases

Adopting a modern lifestyle that can increase the risk of trauma and fractures

occasions

Emerging Asia Pacific and LAMEA

inhibits

Low awareness of limb devices

Unfavorable reimbursement scenario

Covid-19 scenario:

The Covid-19 pandemic negatively impacted the growth of the global lower extremity devices market. Compared to other surgeries, most orthopedic surgeries are elective and have therefore been postponed. Such a cancellation of operations affected the market.

The global lower extremity devices market is segmented by product, application, distribution channel, and region. Based on product type, the Knee Brace segment is projected to register the highest CAGR of 7.1% during the forecast period. Additionally, in 2021, the segment held the lion’s share, accounting for nearly three-fifths of the market.

Based on the application, the “Other” segment is expected to register the highest CAGR of 7.2% during the forecast period. However, the trauma and fracture segment dominated the market in 2021, contributing about three-fifths of the market.

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On the basis of distribution channel, the hospitals and surgical centers segment held the largest share in 2021, accounting for more than two-fifths of the market. However, the Other segment is expected to register the highest CAGR of 7.5% from 2022 to 2031.

The global Lower Limb Devices Market is analyzed in several regions such as North America, Europe, Asia Pacific and LAMEA. The Asia Pacific market is estimated to witness the highest CAGR of 7.6% during the forecast period. However, the market across North America had the largest share in 2021, contributing more than two-fifths of the market.

Global Lower Limb Devices Market report provides in-depth analysis of major market players such as 3M, Bauerfeind AG, Enovis Corporation, Essity AB, DeRoyal Industries, Inc, Orthofix Medical Inc., (Breg Inc), Össur, Otto Bock HealthCare GmbH, Thuasne Group and Trulife.

The report analyzes these major players in the global lower extremity devices market. These players have applied various strategies like new product launches, expansion, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, business segments, product portfolio and developments of each market player.

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“We have also published some syndicated market studies in similar areas that may be of interest to you. Below is the title of the report for your referenceconsidering the impact of Covid-19 on this market which will help you to assess the aftermath of the pandemic on the short and long term growth trends of this market.”

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global, medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR strives to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 industries, including life sciencesConsumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverage, Energy & Power, Semiconductors & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional business relationships with various companies and this helps us to unearth market data which help us create accurate research data tables and confirm the highest accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients succeed in any way possible. All data presented in the reports we publish are extracted through primary interviews with top officials from leading companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable professionals and analysts in the industry.

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