Orthopedic prosthetics are artificial devices used to replace a missing body part lost due to disease, trauma, surgical removal of body appendage, disabling illness or congenital conditions.
Orthopedic prosthetic devices are segmented into upper and lower extremity prosthetics.
The global orthopedic prosthetics market is expected to decline from $2.1 billion in 2019 to $1.7 billion in 2020 at a compound annual growth rate (CAGR) of -20%.
DePuy’s hip prosthetic device was denied approval by the FDA after it was assessed as unsafe, thus creating an entry barrier and restraining the market.
3D printed orthopedic prosthetics are devices that are manufactured by the process of 3D printing.