Tynor Orthotics eyes expansion amid rising global demand for orthopaedic products

Tynor Orthotics Private Limited, an Indian manufacturer and exporter of cost-effective orthopaedic appliances, has set its sights on global markets, including the United States, Canada, Latin America, Africa, and Gulf countries. This is in response to the increasing global demand for orthopaedic products.  

Tynor, a significant player in the Indian market, has identified that the orthopaedics market in India is on a steady growth trajectory, driven by factors such as our increasingly hectic lifestyles, greater awareness of orthopaedic issues, and evolving living patterns.  

"Tynor's vision extends far beyond the borders of India. We recognise the tremendous potential not only in India but also in global markets, including the United States, Canada, Latin America, Africa, Gulf countries, and beyond. These regions are experiencing a growing demand for high-quality healthcare products, with an emphasis on the crucial aspect of effective healing. Tynor is poised to meet this demand and bridge the market gap in these diverse and dynamic regions," said Abhaynoor Singh, Director of Tynor Orthotics.  

"Tynor Orthotics is embarking on an ambitious journey to expand its presence, both domestically and globally. With a significant global footprint spanning over 60 countries, our expansion strategy includes exploring opportunities for setting up manufacturing facilities in regions that align with our growth vision," he added.  

Tynor, headquartered in Mohali, is also working with the Indian government to boost the domestic orthopaedics market. The firms in 2020 inked a pact with the Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST) in Trivandrum, Kerala. SCTIMST is an institute of national importance under the Department of Science and Technology, Government of India. This collaboration is aimed at co-developing orthotic devices and promoting joint research programmes in orthotics and rehabilitation, contributing to the Indian government's goal of achieving a self-reliant India, known as Atmanirbhar Bharat.  

According to government estimates, the global market for knee braces is on the rise, driven by the increasing incidence of osteoarthritis, a growing number of orthopaedic knee surgeries, and the rising prevalence of sports-related injuries in athletes. In 2018, the market size was estimated at USD 1.5 billion, with an anticipated compound annual growth rate (CAGR) of 4.3%. Key factors fueling this growth include the mounting burden of osteoarthritis, an expanding target population, and the development of cost-effective, user-friendly knee braces, according to the government.  

However, the company has also witnessed some challenges in the Indian market. "In the Indian market, several significant challenges merit consideration. Foremost among them is the imperative need for increased awareness and education concerning orthopaedic issues and preventive measures. Often, individuals only contemplate orthopaedic solutions when a doctor prescribes them. Thus, there is a pressing need for a dedicated effort to enhance awareness among consumers," said Singh.  

The company is also looking at global collaborations for growth. "In terms of financial investments, between 2018 and 2020, we successfully secured private equity funding from Lighthouse Funds, a prominent US-based firm. These strategic investments have strengthened our position in the global healthcare market," he said.  

In 2010, Tynor forged a strategic partnership with Thuasne, a France-based company with over 70 years of expertise in the orthotics industry. Within just one year of collaboration, Tynor experienced rapid and substantial growth.  

"When it comes to diversification, while orthopaedic solutions remain our core focus, our deep understanding of human anatomy drives us to take proactive steps to expand into related healthcare segments with our sports and life range products," said Singh.