Market Definition
Orthopedic braces are primarily medical devices that are designed to address musculoskeletal issues, including properly aligning, correcting the position, and protecting the muscles, joints, and bones while healing from injury or trauma.
Market Outlook
The global orthopedic braces & supports market was valued at USD 3.7 billion in 2021 and it is anticipated to grow up to USD 7.3 billion by 2031, at a CAGR of 7.0% during the forecast period.
Orthopedic braces are primarily medical devices that are designed to address musculoskeletal issues, including properly aligning, correcting the position, and protecting the muscles, joints, and bones while healing from injury or trauma. They are increasingly preferred over other invasive treatments as they are less painful and assist in quick recovery while limiting the incidences of post-surgical complications.
The incidence of orthopedic diseases & disorders is expected to increase further in the coming years with the rising prevalence of obesity and related lifestyle disorders, as obese individuals are at a greater risk of orthopedic & musculoskeletal injuries as well as diabetes. Orthopedic braces and supports offer several benefits, such as better affordability, higher efficacy, greater patient comfort, and ease of use compared to conventional products. Due to these benefits, key players are increasingly developing specialized products for the treatment of various orthopedic diseases as well as to address the unmet market needs. In developed as well as emerging markets, patient preference for orthopedic braces is rising due to their financial affordability and easy market accessibility. Sports and related physical activities often result in musculoskeletal injuries such as sprains, ligament injuries, and fractures. Therefore, the increasing public participation in such activities drives the prevalence of these conditions. Orthopedic braces and supports are increasingly being considered an effective clinical alternative for orthopedic surgeries for conditions such as rheumatoid arthritis, osteoporosis, gout, and fractures. Various public-private sports organizations and medical professionals are undertaking initiatives to spread public awareness related to the clinical management of orthopedic injuries, such as conferences, workshops, and symposiums.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Orthopedic Braces & Supports Market Segmental Overview
The report analyses the global orthopedic braces & supports market based on product, application, end use, and region.
Based on product, it is segmented into upper extremity braces and supports and lower extremity braces and supports. Upper extremity braces and supports further sub-segmented into shoulder braces and supports, elbow braces and supports, hand and wrist braces and supports. While, lower extremity braces and supports sub-segmented into Ankle braces and supports, Knee braces and supports, Foot braces and supports, Back, hip and spine braces and supports. Among these, lower extremity brace and support segment accounted for significant market share in 2021. The rising prevalence of knee, ankle, and upper extremity-related disorders and injuries has led to a huge demand for these products. Knee braces and supports held the largest revenue share in 2021, owing to a rising number of the target population affected by knee joint-related ailments. Knee braces help in pressure relief from knee joints affected by arthritis. These products are majorly used by individuals suffering from arthritis and other joint-related disorders, sports players, and patients who have undergone knee surgery. Global Orthopedic Braces & Supports Market by Application Based on application, it is segmented into preventive care, injury, post-operative rehabilitation, osteoarthritis and others. Among them, injury segment is expected to experience the fastest growth rate during the forecast period. The large share of this segment can be attributed to increasing public participation in sports & athletic activities coupled with the rising incidence of sports-related injuries, the rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries will augment the segmental growth. Global Orthopedic Braces & Supports Market by End-use Based on end-use, it is segmented into pharmacies, e-commerce, hospitals, orthopedic clinics and others. The orthopedic clinics segment accounted for significant revenue share in 2021 owing to the orthopedic clinics being the primary point of care for patients suffering from musculoskeletal pain. Hospitals held a significant market share owing to a large number of patients seeking treatment at hospitals, especially in case of traumatic injuries. These may range from spinal injuries, bone fractures, and injuries suffered in road accidents.
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Major Players in the Global Orthopedic Braces & Supports Market
The key players in the market are DJO Finance LLC (US), Ossur HF (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Essity (Sweden), 3M (USA), Ottobock Holding GmbH (Germany), Thuasne Group (France), Zimmer Biomet Holdings, Inc. (US) and ALCARE (Japan), among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Market Size in 2024 – US$ 3.7 Billion
- Market Size in 2033- US$ 7.3 Billion
- CAGR % – 7.0%
- Historic Period – 2015-2022
- Forecast Period – 2024-2033
- Base Year – 2024
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