by Orthopedic orthoses and prosthetics provide support, protection, bracing, correction of body deformities or improvement of mobility through the use of braces, splints, casts, walking aids or artificial limbs and traction devices. The key products include orthopedic braces, supports and prosthetics for various parts of the body such as the knee, ankle, shoulder, spine etc. Orthopedic supports are used to address joint and ligament injuries, muscle strains and sprains while prosthetics replace missing body parts with artificial substitutes.
The global orthopedic orthoses and prosthetics market in China 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 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Older individuals tend to suffer more from disability, injuries and chronic medical conditions that require orthotic care, medical aids and prosthetics for enhanced mobility. According to market estimates, the number of individuals aged 65 years and above in China will rise to 300 million by 2035. Similarly, the increasing incidence of injuries from road accidents and lifestyle diseases such as diabetes are contributing to traumatic amputations as well as diabetic foot problems necessitating custom orthotics and prosthetic devices. Additionally, growing awareness about treatment options and increasing healthcare expenditure augur well for wider acceptance of orthopedic orthoses and prosthetics.
However, the high cost of technologically advanced prosthetics remains a key challenge, limiting their adoption. Moreover, lack of reimbursement policies for orthotics and prosthetics makes them unaffordable for a large patient base. Industry players are focused on developing low-cost solutions as well as advocating for insurance coverage which can help address these issues to a certain extent.
SWOT Analysis
Strength: China has a large population which translates to a large patient base for orthosis and prosthetics. The country’s healthcare infrastructure is developing rapidly to cater to this population. Government schemes provide reimbursement for orthotic and prosthetic devices which increase accessibility and affordability for patients.
Weakness: Compared to developed markets, the orthotic and prosthetic devices manufacturing industry is still at a nascent stage in China. Dependence on imports of new technologies and materials makes the industry vulnerable. Lack of skilled professionals hampers the quality of services.
Opportunity: Growing geriatric population and rising incidence of amputations and injuries create steady demand for orthosis and prosthetics. Increasing healthcare spending can further drive the market. The government is focused on developing domestic production capabilities through favorable policies which will attract new market entrants.
Threats: Stringent regulatory norms for product approval and manufacturing practices increase compliance costs. Intense competition from global players impacts profit margins for domestic brands. Infrastructure gaps in rural areas pose challenges for last-mile delivery of products and rehabilitation services.
Key Takeaways
The China Orthosis And Prosthetics Market Size is expected to witness high growth over the forecast period on account of rising disease burden, healthcare investments and supportive government policies. The global China Orthosis and Prosthetics Market 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 2024-2031.
Regional analysis reveals that east and central China currently dominate the market owing to concentration of major manufacturers and hospitals in this region. However, western China is expected grow at the fastest pace through 2031 looking at initiatives to improve local production capacity and access in this underpenetrated area.
Key players operating in the market are RETAL Industries Ltd., Plastipak Holdings, Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, and Resilux NV. These companies have established strong distribution networks and product portfolios. RETAL Industries leads the domestic market with widest geographical presence across the country. However, global brands such as Össur and Ottobock have been gaining ground in the China market through acquisitions and new product launches targeting the limb loss patient segment.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
