Wrist Hand Orthosis Market, By Type (Dynamic Orthotics and Static Orthotics), By Application (Hospitals, Clinics, and Homecare Settings), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI70519 | Publish Date: February 2024 | No. of Pages: 180

Global Wrist Hand Orthosis Market Overview

Introduction:

Medical devices known as wrist hand orthosis are used to treat disorders or injuries that affect the wrist or hand. They also aid in rehabilitation. These orthotic devices help to protect, immobilize, or facilitate the healing process of the injured body parts. Over the course of the projected period, a considerable expansion in the wrist hand orthosis market is expected to happen. The market for these orthotic devices is being driven by factors including the expanding aging population, an increase in accidents caused by sports, and the increased prevalence of wrist and hand ailments.

Further driving market expansion are technological developments like the creation of flexible and lightweight materials. The market is expanding as a result of the growing trend of personalization in orthotic devices. The market is also being supported by the growing use of orthotic devices in homecare settings and the growing understanding of the significance of early rehabilitation and secondary problem avoidance. However, a few obstacles can prevent the market from expanding. These include the expensive price of orthotic devices, the restrictive reimbursement guidelines, and the dearth of qualified specialists who can offer appropriate direction and orthosis fitting.

During the projected period, the market for elbow wrist hand orthoses is expected to expand substantially. The market is anticipated to continue expanding as a result of the increased demand for customized orthotic devices and the increasing prevalence of wrist and hand ailments. The development of the technology and materials utilized in these orthoses is probably going to help the market grow as well.

Wrist Hand Orthosis Market - Introduction

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Global Wrist Hand Orthosis Market Dynamics

Wrist Hand Orthosis Market Key Drivers:

  • Increasing wrist and hand injuries

The population of old people is continuously rising at a steady rate. With the rise in geriatric population the prevalence of wrist bones and hand movement complications will take place, and hence will pose a need for this population to avail for wrist hand orthosis equipment. For example, according to the International Osteoporosis Foundation, Bone development slows down as people become older and more bone is degraded slowly. Bone loss starts to accelerate at the age of 40. Low bone mass at the age of 70 is more likely to occur in males than in women. Increased fracture risk and osteoporosis are two consequences of bone density loss. which in turn leads to weakened body parts including hands and wrists.

Also, the young population taking part in the sports and fitness activities which is further driving the wrist hand orthosis market.

  • Technological advancements

Continuous developing innovations in the equipment for wrist hand orthosis have driven the market to different levels. Innovations in the materials of the equipment like the fabric, is made breathable so the hand and wrist obtain optimal space to breathe and move as well. Also the 3D printed fabric is also used for the material for the equipment. The technology is enabling the users avail a comfortable, effective and personalized wrist hand orthosis equipment. The design can be fed in the system and the computer will make the wrist hand equipment as demanded from the customers. The helps the customers obtain a more personalized and comfortable design of the equipment. Further, telehealth solutions like digital health platforms, allow the user for remote fitting and to monitor wrist hand orthosis more precisely and help the patient provide optimal health solution.

Wrist Hand Orthosis Market Restrains:

  • Lack of skilled healthcare professionals

The market faces some hindering factors like lack of skilled healthcare professionals in some developing regions. The patients need someone who can help them easily fit and monitor the device for them as proper fitting and monitoring of wrist hand orthosis is crucial for effectiveness of the equipment and the safety of the patient. If the patients are kept from the basic care their condition might worsen and cause new problems. The high cost and reimbursement limitations also restricts access to some patient who cannot afford the expensive equipment which poses as a further issue for the wrist hand orthosis market to flourish.

Wrist Hand Orthosis Market Opportunities:

  • Increasing elderly population

The market for wrist and hand orthoses is anticipated to expand significantly over the next several years. The elderly population is growing, musculoskeletal problems are becoming more common, and technological improvements are fueling the market's expansion. The industry is also being helped by the availability of personalized orthotic devices and the rising desire for non-invasive treatment methods. The industry is also being helped by the growing use of these gadgets by professional athletes and sportsmen to improve performance and avoid accidents. With ongoing expenditures in R&D for technologically improved products and growing patient and healthcare professional knowledge of their advantages, the market for wrist hand orthosis has a bright future.

Global Wrist Hand Orthosis Market Segmentation

Wrist Hand Orthosis Market is segmented based on Type, Application, and region.

Type Insight:

  • Dynamic Orthotics:

The dynamic orthotics allow controlled movement of the hand and wrist along with providing proper support. This equipment is commonly used in the rehabilitation therapy to provide support to the injured part of the hand and prevent chances of re-injury.

  • Static Orthotics:

Static orthotics are used for limiting to movement of hand and wrist completely. This equipment is commonly used in the situations of fracture healing or if any injury requires complete immobilization of the hand and wrist.

Among all the segments mentioned above the one that dominates the most is the dynamic orthotics segment due to the flexible and controlled movement it offers to the patient, comfortable designs and growing innovative alternatives.

Application Insights:

  • Hospitals:

The treatment for wrist hand orthosis is mainly taken care by the hospitals as they have trained professionals sand doctors, well-established infrastructure and machinery. 

  • Clinics:

Treatment of wrist and hand can also be done in the clinic. But it requires accurate high-end machinery, extreme initial investment. The clinics are an emerging sector with rising outpatient treatments and rehabilitation services.

  • Homecare Settings:

The homecare setting is especially used for the severely injured individuals and old people. This application is rising due to the rising demand of homecare services in the young population as well.

Among all he segments mentioned above the segment that dominates the most is the hospital segment due to the skilled professional, high-end machinery for rehabilitation purposes and constant supervision by the doctors.

Regional Insights:

Wrist Hand Orthosis Market - Regional Insights

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Wrist Hand Orthosis Market Regional Insights:

  • North America market is estimated to witness significantly the largest revenue share over the forecast period, owing to increasing cases of wrist and hand injuries, rising geriatric population and advancing technological innovations in the wrist hand orthosis equipment and devices.
  • Asia Pacific market is estimated to witness fastest revenue share due to the increasing cases of wrist and hand injuries and the rapidly increasing technological advances in the wrist hand orthoses.
  • Europe market is a steadily growing market due to the rising geriatric population in the region and technological advances taking place to meet the needs of these old people who face challenges.
  • Latin America market shows moderate growth due to the growing awareness of wrist hand orthosis and rising healthcare expenditure in the region.
  • Middle East & Africa market is in its development stages and is gradually rising owing to the rising healthcare infrastructure and initiatives taken by the government to spread awareness about wrist and hand injuries.

Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Type - Dynamic Orthotics and Static Orthotics.

By Application - Hospitals, Clinics, and Homecare Settings.

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Wrist Hand Orthosis Market report based on Type, Application and region:

Wrist Hand Orthosis Market, By Type:

  • Dynamic Orthotics
  • Static Orthotics

Wrist Hand Orthosis Market, By Application:

  • Hospitals
  • Clinics
  • Homecare Settings

Wrist Hand Orthosis Market, By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Wrist Hand Orthosis Market Key Players

The key players operating the Wrist Hand Orthosis Market includes, Hanger Clinic, Comprehensive Prosthetics and Orthotics, Essex Orthopaedics, DJO Global, Ottobock, DeRoyal Industries, Thuasne, Xi'an Hai Hong Prosthetic and Orthosis, LANAFORM, and Bauerfeind USA Inc.

Global Wrist Hand Orthosis Market Company Profile

  • Hanger Clinic
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Comprehensive Prosthetics and Orthotics
  • Essex Orthopaedics
  • DJO Global
  • Ottobock
  • DeRoyal Industries
  • Thuasne
  • Xi'an Hai Hong Prosthetic and Orthosis
  • LANAFORM
  • Bauerfeind USA Inc.

“*” marked represents similar segmentation in other categories in the respective section.

Global Wrist Hand Orthosis Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Preview
    • Executive Summary
    • Key Findings—Global Outlook for medical carts Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restrains
      • Market Opportunities
      • Market Trends
    • DR Impact Analysish
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Wrist Hand Orthosis Market, By Type , Forecast Period up to 10 Years, (US$ Bn)
  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Dynamic Orthotics
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Static Orthotics
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Wrist Hand Orthosis Market, By Application, Forecast Period up to 10 Years, (US$ Bn)
  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Hospitals
    • Buildings Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Clinics
    • Buildings Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Homecare Settings
    • Buildings Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Wrist Hand Orthosis Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Type , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • U.S.
    • Canada
  • Europe
    • Market Size and Forecast (US$ Bn), By Type , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • UK
      • France
      • Germany
      • Russia
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Market Size and Forecast (US$ Bn), By Type , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • India
      • Japan
      • South Korea
      • China
      • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By Type , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Type , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East
  1. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  2. Company Profiles 
  • Hanger Clinic
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Comprehensive Prosthetics
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Orthotics
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Essex Orthopaedics
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • DJO Global
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Ottobock
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

Wrist hand orthosis market report segments the market on the basis of type, application, and region.

Limited Patient Compliance, High Costs, Limited Awareness, Design Limitations, Stigma Associated with Usage

Growing Incidence of Orthopedic Disorders, Increasing Aging Population, Technological Advancements, Rehabilitation Programs, Rising Awareness of Rehabilitation Therapies

North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa North America and Europe are traditionally significant markets due to advanced healthcare infrastructure and aging populations. However, market dynamics can evolve over time.

Key players in the wrist hand orthosis market includes Hanger Clinic, Comprehensive Prosthetics and Orthotics, Essex Orthopaedics, DJO Global, Ottobock, DeRoyal Industries, Thuasne, and Xi'an Hai Hong Prosthetic and Orthosis.