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Medical Orthotics & Prosthetics (5999-OP)

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Medical Orthotics & Prosthetics (5999-OP)
  

Overview of Medical Orthotics & Prosthetics (5999-OP)

— Orthotists and prosthetists design and fabricate medical supportive devices and measure and fit patients for them. These devices include artificial limbs (arms, hands, legs, and feet), braces, and other medical or surgical devices. The global orthopedic market is projected to surpass US$56 billion by the year 2017, driven by aging population, rising incidence of age-related conditions such as osteoarthritis, and improving orthopedic surgical procedures. Development of longer-lasting and improved materials and implants is also a key contributor to the industries' growth. Further, rising demand from emerging markets is also expected to contribute to the industries' growth in the long run. Long-term growth in the orthopedic devices market is projected to be strong driven by an aging population, rising incidence of co-morbidities such as diabetes and obesity, increasing prevalence of degenerative joint diseases, and rise in active lifestyles. Further, the advent of technologically advanced products and technologies is expected to foster growth in the industry by allowing surgeons to treat a larger and increasingly younger patient population. Manufacturers engaged in the orthopedic implants business clearly realize the potential of the aging baby boomers segment. Advanced fixation systems incorporating novel materials and innovative device designs, and biomaterials and development of compact, reliable, faster, and lighter power instruments constitute some of the focus areas for researchers across the world. Smart Implants is another potential area of growth for the orthopedic industry.

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