According to the research report titled ‘Global Orthotics Market - Analysis By Function (Static, Dynamic), Anatomical Position, End User, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2027)’, available with MarketStudyReport, global orthotics market was worth USD 3.81 billion in 2021 and is expected to garner notable returns by the year 2027.

As per report findings, global orthotics market growth is attributed to growing prevalence of chronic diseases including neurological disorders, which influence patients' spinal and nervous systems, and cardiovascular diseases.

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For the unversed, orthotics are specialized, individually made shoe or heel inserts that are prescribed by doctor in order to treat issues with the feet, legs, or back. It can be included in a thorough treatment plan to address a variety of problems, most commonly involving pain and discomfort in the legs and feet.

Furthermore, ongoing technical advancements in orthotics treatment field, growing demand from ageing population, and rising sports injuries are also contributing towards industry expansion.

Increasing product launches, rising healthcare infrastructure & expenditure, soaring adoption of universal health coverage in emerging nations, as well as presence of major players who continuously engage in research & development activities are expected to augment market trends in the coming years.

Notably, the advent of COVID-19 out-break have negatively impacted the industry in the recent past, because of fewer number of patients, since they chose to delay the visit in concern for their own health and safety from coronavirus.

Based on function, worldwide orthotics market is split into dynamic orthoses and static orthoses. In terms of anatomical position, the industry is bifurcated into lower extremity orthoses, spinal orthoses, and upper extremity orthoses. On the basis of end user, the market is divided into rehabilitation centers, prosthetics & orthotics clinic, and hospitals.

Regionally speaking, the latest industry trends are studied across North America (U.S., Canada), Europe (UK, Italy, France, Germany), Asia Pacific (China, Australia, India, Japan). Among these, North America market has attained significant revenue share at present.

Coming to competitive landscape, Trulife Ltd., Fillauer Companies, Inc., Thuasne USA, Bauerfeind AG, DeRoyal Industries, Inc., Blatchford, Orthofix Medical, Inc., Ottobock SE & Co. KGaA, Össur hf., and Enovis (formerly Colfax Corporation) are the leading players in global orthotics market.