Oct 21, 2022: According to the Orthopedic Braces and Supports Market report by Maximize Market Research, the market was valued at USD 3.6 billion in 2021. According to the forecast period from 2022 to 2029, the market is expected to reach USD 5.7 million by 2029, growing at 6 percent.
Orthopedic Braces and Supports Market Overview
Orthopedic braces are medical devices that are used to support, align, stabilize, and protect certain body parts, in particular muscles, joints, and bones as they recover from damage or injury. Orthopedic braces are utilized in a variety of specialized healthcare fields, such as those that deal with recovery from surgery, treating osteoarthritis, preventing injuries, and more. Some of the reasons that are expected to propel the market growth during the forecast period include rising osteoarthritis incidences, an aging population, an increase in sports-related injuries, and several product releases by key market participants in this sector.
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Orthopedic Braces and Supports Market Dynamics
Since obese are more likely to sustain musculoskeletal and orthopedic injuries as well as diabetes, it is expected that the rising prevalence of obesity and accompanying lifestyle issues would raise the incidence of orthopedic illnesses and disorders in the years to come. Orthopedic supports and braces provide several benefits over more conventional treatments, including cheaper cost, increased efficacy, increased patient comfort, and simplicity of usage. Leading businesses are quickly developing specific solutions in response to unmet market demands and these benefits for the treatment of various orthopedic disorders are likely to boost the Orthopedic Braces and Supports Market.
Demand for high-end products such as Unloaded OA bracing products and postoperative bracing solutions is expected to be driven by rising amateur sports and activity levels, the aging population in emerging markets around the world, and the number of elective orthopedic surgeries, such as knee replacement. Growing osteoarthritis cases are also significant orthopedic conditions affecting product demand. Similarly, arthritis for all ages is also a growing demand for the Orthopedic Braces and Supports market. The Centers for Disease Control and Prevention (CDC) predicted that over 78.2 million U.S. individuals over the age of 18 would be diagnosed with arthritis by 2040.
Large end-user institutions such as hospitals, surgery centers, and orthopedic clinics in industrialized nations like the United States, Germany, The United Kingdom, and Japan are increasingly using innovative orthopedic braces. However, end-user facilities in developing and emerging markets are cautious to embrace new products because of the lack of information and pricing. These customers also favor the usage of conventional and well-proven products whose therapeutic and diagnostic functions are supported by clinical evidence and research.
Due to the need for product customization or modification depending on patient characteristics, certain orthopedic braces may only be worn under the supervision of medical professionals or orthopedic technicians. However, since their use does not require supervision, several braces such as the ankle, wrist/hand, shoulder, elbow, and facial braces are increasingly being provided by shops and e-commerce websites. Such off-the-shelf products are to increase the Orthopedic Braces and Supports Market.
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Orthopedic Braces and Supports Regional Market Insights
The Orthopedic Braces and Supports Regional Market was dominated by North America given the region’s growth in musculoskeletal diseases and increasing incidence of sports-related injuries. The growing geriatric population in the region as well contributed to the growing market in the region. According to the World Population Aging study, the number of individuals over the age of 65 in the United States is expected to increase from 53,340 thousand in 2019 to 84,813 thousand by 2030, with the 65-and-older age group’s percentage of the overall population rising from 16.2% in 2019 to 22.4% by 2050. Given these insights, the Orthopedic Braces and Supports Regional Market is expected to grow.
With the advent of 3D printing technology, mergers, and acquisitions, technological advancements are expected to develop Orthopedic Braces and Support Regional Market internationally. With several start-ups, and global business growth with interest in US markets it is expected the share of the US in the global market is to increase.
Orthopedic Braces and Supports Regional Market Segmentation
By product the Orthopedic Braces and Supports Market is segmented into Knee Braces and Supports, Ankle Braces and Supports, Foot Walkers and Orthoses, Shoulder Braces and Supports, Elbow Braces and Supports, Hand & Wrist Braces and Supports, Facial Braces and Supports, Hip, Back, And Spine Braces and Supports, Neck & Cervical Spine Braces and Supports and Lower Spine Braces and Supports
By type the Orthopedic Braces and Supports Market is segmented into Soft & Elastic Braces and Supports, Hard Braces and Supports, and Hinged Braces and Supports
By application the Orthopedic Braces and Supports Market is segmented into Ligament Injury, Anterior Cruciate, Lateral Collateral, Preventive Care, Post-operative Rehabilitation, Osteoarthritis, Compression Therapy, and Other
By end-users the Orthopedic Braces and Supports Market is segmented into Orthopedic Clinics, Over Counter (OTC), Hospitals, DME Dealers, and Others
Orthopedic Braces and Supports Market Key Players
- DJO, LLC
- Zimmer Biomet
- Stryker Corporation
- NuVasive, Inc
- Integra LifeSciences Corporation
- Globus Medical
- AC Mould Engineering Limited
- Johnson & Johnson Services, Inc
- Weber Orthopedic LP. DBA Hely & Webe
- BSN medical
- Becker Orthopedic
- OPPO MEDICAL INC
- Langer Biomechanics
- Frank Stubbs Company
- DeRoyal Industries
- Ascent Meditech Limited
- Alcare Co., Ltd
Key questions answered in the Automotive Fuse Boxes Market
- What is the market segmentation of the Orthopedic Braces and Supports Market?
- What is the CAGR for the forecast period of the Orthopedic Braces and Supports Market?
- Who are the key players in the Orthopedic Braces and Supports Market?
- What are the factors leading to growth in the Orthopedic Braces and Supports Market?
- Who dominates the Orthopedic Braces and Supports Market in North America?
Related Report Published by Maximize Market Research:
Global Orthopedic Bone Cement and Casting Material Market
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