Orthosis and prosthetics involve medical devices used as substitutes for missing body parts or to aid and support body parts. They are used for the management of conditions such as osteoarthritis, rheumatoid arthritis, osteoporosis, fractures, and spinal injuries. The orthosis and prosthetics market in China is driven by the rise in geriatric population, increasing prevalence of injuries and disabilities, growth in healthcare expenditure, and technological advancements. The market provides various products such as upper-limb, lower-limb, and spinal orthosis and upper-limb and lower-limb prosthetics. These devices help improve the mobility and quality of life of patients. The increasing number of road accidents and sports injuries is also propelling the demand for orthosis and prosthetics in China.
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 are RETAL Industries Ltd., Plastipak Holdings, Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, and Resilux NV. These companies are focusing on new product launches and strategic collaborations to expand their market share.
The rising geriatric population suffering from mobility issues and chronic conditions presents significant growth opportunities for players in the China orthosis and prosthetics market. Additionally, increasing investments by both public and private sectors in healthcare infrastructure development will support the demand for these medical devices over the coming years.
Geographically, East China accounts for the largest share in the country's orthosis and prosthetics market due to the concentration of major manufacturers in this region. However, central and western China are expected to offer lucrative expansion opportunities for market players driven by improving medical infrastructure and increasing healthcare access in rural areas.
Market Drivers
The growing aging population suffering from osteoarthritis, fractures, and spinal disorders is a major driver of the China orthosis and prosthetics market. According to the National Bureau of Statistics of China, the number of people aged 60 years or older is estimated to reach over 400 million by 2035. Moreover, the rising incidence of injuries from road accidents and trauma cases is propelling the demand for these devices in China. Favorable government initiatives to promote accessibility of assistive technologies will further support the market growth over the forecast period.
PEST Analysis
Political: Government policies and regulations related to import duties on raw materials and components and healthcare budgets can have an impact on the orthosis and prosthetics market in China.
Economic: Factors such as rising disposable income, economic growth and increasing healthcare spending can drive the demand for prosthetic and orthotic devices. China's growing economy leads to higher spending power.
Social: factors including growing geriatric population, rising incidence of accidents and disorders increases the need for orthosis and prosthetics. Increased health awareness also impact market growth.
Technological: Advancements in materials, designs and manufacturing processes are enabling affordable, lightweight and cosmetic appeal in devices. Technologies such as 3D printing support customized solutions.
China Orthosis and Prosthetics Market geographical concentration
In terms of value, East China region accounts for the largest share of orthosis and prosthetics market in China, primarily led by provinces like Jiangsu and Zhejiang. The high population density, medical infrastructure and economic strength of cities in this region drive the market. North China follows next, led by Beijing and Tianjin which are major healthcare hubs.
Fastest growing region for China Orthosis and Prosthetics Market
The Southwest region of China comprising of Sichuan, Guizhou and Yunnan provinces is estimated to be the fastest growing region for orthosis and prosthetics market during the forecast period. This is attributed to improving healthcare access in rural areas, infrastructure investments and government focus on disability support in this region.
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