Orthosis and prosthetics refer to medical devices that are externally applied for limb support or replacement of missing limb parts. The devices help patients with injuries or congenital disabilities to regain motor functions and mobility. The Chinese market has witnessed rising demand for orthosis and prosthetics due to a growing aging population and increasing incidence of trauma injuries and amputations. Advancements in 3D printing technologies have enabled customized product designs tailored to the patients' needs and anatomy. This has improved product efficacy and user comfort.
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 2024 to 2030.
Key Takeaways
Key players operating in the China Orthosis and Prosthetics market are RETAL Industries Ltd., Plastipak Holdings, Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, and Resilux NV. These players are focusing on new product launches and partnerships to expand their market share.
The Chinese market provides significant growth opportunities owing to rising healthcare spending, favorable reimbursement policies, and increasing incidence of orthopedic conditions. Market players can leverage these opportunities by strengthening their distribution networks and collaborating with local hospitals and clinics.
Advancements in 3D printing technologies are enabling customized prosthetics and orthosis with complex designs. 3D printed devices offer improved fit and comfort levels. This technology reduces manufacturing time and costs and is gaining popularity in the Chinese market.
Market Drivers
A rapidly growing geriatric population prone to age-related disabilities and injuries is a key driver bolstering demand for orthosis and prosthetics in China. According to estimates, over 255 million people in China will be aged 65 years and above by 2030. This raises the risk of osteoarthritis, fractures, and other musculoskeletal disorders requiring orthotic support.
Secondly, the increasing incidence of trauma injuries from road accidents and other mishaps is propelling the need for prosthetic limb replacements. According to official data, over 10 million road accidents are reported annually in China. Prosthetic devices help accident victims to resume normal motor functions and daily activities.
Current challenges in China Orthosis and Prosthetics Market
The China Orthosis and Prosthetics market is currently facing challenges related to increasing cost of production and rising preference for expensive technologically advanced products. High cost of raw materials and components along with requirement of skilled labor is driving up the production cost. Moreover, growing demand for myoelectric and microprocessor controlled prosthetics and orthoses from patients is putting pressure on prices. Low reimbursement policies and lack of universal healthcare further aggravates the affordability issues. Additionally, limited awareness among general population and lack of trained professionals especially in rural areas pose significant obstacles in market growth.
SWOT Analysis
Strength: Growing geriatric population and increasing prevalence of limb disabilities in China drives demand.
Weakness: High costs associated with manufacturing and technology upgrades. Lack of supportive reimbursement policies.
Opportunity: Potential fordevelopment of customized 3D printed prosthetics and orthoses. Growing medical tourism industry presents export opportunities.
Threats: Threat from inexpensive imports. Stringent regulatory approvals for new products.
Geographical regions with largest market share in terms of value
The key region dominating the China Orthosis and Prosthetics market in terms of value is East China region including Shanghai, Jiangsu and Zhejiang provinces. This is mainly owing to high population density, strong economic conditions and presence of leading domestic manufacturers. The southern region of Guangdong and Fujian along with central China region of Henan and Hubei also account for sizable shares in the country's overall market size. Availability of advanced healthcare facilities and high disposable incomes in tier 1 and tier 2 cities across these regions drive the sales of orthosis and prosthetic devices.
Fastest growing geographical region
The northwest region of China centering Inner Mongolia, Shaanxi, Gansu and Ningxia is expected to witness fastest growth during the forecast period. Significant improvement in basic health infrastructure coupled with government initiatives promoting affordable care in rural localities will aid the market expansion. In addition, rising incidence of work and traffic-related injuries due to robust industrialization will further fuel the demand for orthosis and prosthetics in this region over the coming years.
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