Orthopedic Braces and Supports Industry Overview
The global orthopedic braces and supports market size was valued at USD 4.35 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2030.
Increasing product and technological developments, rising geriatric population, prevalence of chronic and acute conditions, and initiatives by major companies are some of the key drivers of this market. For instance, in February 2021, BREG, Inc. launched Pinnacle and Ascend lines of orthopedic braces comprising of 15 products for patients with spinal injuries. With this development, the company expanded its portfolio in manufacturing in every major orthopedic bracing category.
The COVID-19 pandemic adversely impacted the market for orthopedic braces and supports in 2020 with low demand and sales. The bracing & support market is largely driven by surgeries, injuries, and access to physicians all of which were affected by the pandemic and the associated measures. The market gradually recovered by the end of 2021, as patient visits resumed and surgery volumes went up.
Gather more insights about the market drivers, restrains and growth of the Global Orthopedic Braces and Supports Market
Clinicians also noted that many people suffered from the effects of detraining when physical activities resumed after the lifting of lockdown restrictions. These included reduced neuromuscular capability, muscle mass, and diminished speed, flexibility, strength, and endurance, thus increasing the risk of injury. Factors unrelated to the pandemic also presented challenges for market stakeholders. For example, competitive bidding for off-the-shelf spinal and back braces came into effect in January 2021 in the U.S. This is expected to increase pressure on pricing for certain products.
Increasing amateur sports and activity levels, rising geriatric population in key markets across the globe, growing number of elective orthopedic surgeries, e.g., knee replacement are anticipated to drive the demand for high-end products such as the Unloader OA bracing products and postoperative bracing solutions. The rising incidence of osteoarthritis is a leading orthopedic condition impacting product demand. It is the most common form of arthritis affecting population of all ages.
The Centers for Disease Control and Prevention (CDC) estimated that nearly 78 million U.S. adults above 18 years of age are anticipated to be diagnosed with arthritis by 2040.
Geriatric population is considered one of the highest contributors to the demand for orthopedic braces and supports. This population is highly susceptible to musculoskeletal disorders. Bones and connecting tissues, such as ligaments and cartilages, naturally weaken with growing age. This poses high risk for muscle injury mainly in knees and shoulders of the elderly.
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Orthopedic Braces and Supports Market Segmentation
Grand View Research has segmented the global orthopedic braces and supports market on the basis of product, end user, and region:
· Orthopedic Braces And Supports Product Outlook (Revenue, USD Million, 2017 - 2030)
o Braces & Supports Type
o Pain Management Products
· Orthopedic Braces And Supports End User Outlook (Revenue, USD Million, 2017 - 2030)
o Orthopedic Clinics
o Over the Counter (OTC)
o Hospitals
o DME Dealers
o Others
· Orthopedic Braces And Supports Regional Outlook (Revenue, USD Million, 2017 - 2030)
o North America
o Europe
o Asia Pacific
o Latin America
o MEA
Market Share Insights
· February 2021: Breg partnered with Club Warehouse in Australia to distribute its product lines in the country. This enabled the company to offers its portfolio to various orthopedic practices and sports organizations including the National Rugby League (NRL), Australian Football League (AFL), and Rugby Union Clubs.
· June 2021: TayCo Brace a medical device start-up specializing in ankle braces for injury recovery, received USD 1.2 million funding from multiple investors. The company’s customer base includes over 65 NCAA teams, medical providers in 47 states, 17 NFL teams, and several medical centers.
Key Companies profiled:
Some prominent players in the orthopedic braces and supports market include
- GAF Össur
- BREG, Inc.
- DeRoyal Industries, Inc.
- Bauerfeind
- ALCARE Co., Ltd.
- Ottobock
- Fillauer LLC
- Frank Stubbs Company Inc.
- McDavid
- Hely & Weber
Order a free sample PDF of the Orthopedic Braces and Supports Market Intelligence Study, published by Grand View Research.
The data included in this Orthopedic Braces and Supports Market report provides detailed information of the geographic landscape, competitive scenarios and upcoming opportunities in the Industry.
The inclusion of the statistical records in the Orthopedic Braces and Supports Market report helps in authenticating the results that are being presented and thus provide a clear vision and indication to clients in understanding the response of the participants.Global orthopedic braces and supports market is estimated to reach USD 6.8 billion by 2026 registering a substantial CAGR of 6.6%.
The increased awareness of public about preventive care, affordability of products and growth in the sector are major key drivers of the market.Fill Out Details to Receive Sample Report Copy Here: https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-orthopedic-braces-and-supports-marketMarket Definition: Global Orthopedic Braces and Supports MarketThe global orthopedic braces and supports market is driven by the rising population of geriatric population globally.
Some of the major healthcare condition driving this market is osteoarthritis, sports injuries, other traumatic wounds, orthopedic surgeries, obesity and osteoporosis.
Manufacturers and suppliers developing and promoting braces and supports for prophylactic and performance-enhancing products are expected to fueling the market revenue.
Also stock and bill programs allow manufacturers to bill insurers directly another positive factor for this markets growth.Segmentation: Global Orthopedic Braces and Supports MarketGlobal Orthopedic Braces and Supports Market By Type (Soft & Elastic Braces and Supports, Hard & Rigid Braces and Supports, Hinged Braces and Supports)Product Type (Upper Extremity, Lower Limb Neck and Spine, Pelvis-Hip-Femur)End-User (Hospitals, Clinics, Home Healthcare and Others)Distribution Channel (Orthopedic Clinics, Hospitals, Over the Counter (OTC), E-Commerce, Prescription)Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)Top Manufacturers Covered in the Report:Few of the major market competitors currently working in the global orthopedic braces and supports market are DJO global, Zimmer Biomet, Medtronic, Smith and Nephew, Stryker, Össur, NuVasive®, Inc., Integra LifeSciences, Globus Medical Inc., DePuy Synthes, Ottobock., AC Mould Engineering Limited, Johnson & Johnson Services, Inc., Weber Orthopedic Inc., BSN medical, Inc., Becker Orthopedic, OPPO Medical Inc., Langer Biomechanics, McDavid Inc., Frank Stubbs Company Inc., DeRoyal Industries, Inc., Ascent Meditech Limited, Alcare Co., Ltd., among othersFocal points covered in this Orthopedic Braces and Supports Market reportThis Orthopedic Braces and Supports Market report provides pin point analysis of the market outlook and later establishes its comparison with current patterns.
The global orthopaedic braces and supports market size was worth USD 3.1 billion in 2015 which is anticipated to grow at a CAGR of more than 6.7% during the forecast period.
This population is highly affected by musculoskeletal disorders.
According to International Osteoporosis Foundation, osteoporosis and low bone mass is a major threat to around 44 million U.S. men and women of age 50 and older.
Weakening of bones, connecting tissues such as cartilages and ligaments with age increases the risk of muscle injury in knees and shoulders.
While performing health benefit related activities, athletes tend to sustain injuries which may give rise to ligament injuries.
It helps to restrict the movement of the unwanted part during any activity, thereby facilitating a convenient play.
Data Bridge Market Research has provides the Qualitative and informative knowledge by adding titled “Orthopedic Braces and Supports Market by By Type (Soft & Elastic Braces and Supports, Hard & Rigid Braces and Supports, Hinged Braces and Supports), Product Type (Upper Extremity, Lower Limb Neck and Spine, Pelvis-Hip-Femur), End-User (Hospitals, Clinics, Home Healthcare and Others), Distribution Channel (Orthopedic Clinics, Hospitals, Over the Counter (OTC), E-Commerce, Prescription), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) Analysis and Forecast, 2019 – 2026”.
The Orthopedic Braces and Supports Market report additionally states import/trade utilization, free market activity figures, cost, value, volume and gross edges.
Few of the leading organizations’ names are listed here- DJO global, Zimmer Biomet, Medtronic, Smith and Nephew, Stryker, Össur, NuVasive®, Inc., Integra LifeSciences, Globus Medical Inc., DePuy Synthes, Ottobock., AC Mould Engineering Limited, Johnson & Johnson Services, Inc., Weber Orthopedic Inc., BSN medical, Inc., Global orthopedic braces and supports market is estimated to reach USD 6.8 billion by 2026 registering a substantial CAGR of 6.6%.
The increased awareness of public about preventive care, affordability of products and growth in the sector are major key drivers of the market.For In-Depth Review | Get Sample PDF @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-orthopedic-braces-and-supports-marketMarket Definition: Global Orthopedic Braces and Supports Market Orthopedic braces and supports are the devices or product made to support the body parts after injury as well as they also provide prevention from the injury.
They also provide alignment on abnormal injury through rehabilitation and recovery Top Manufacturers Covered in the Report: Few of the major market competitors currently working in the global orthopedic braces and supports market are DJO global, Zimmer Biomet, Medtronic, Smith and Nephew, Stryker, Össur, NuVasive®, Inc., Integra LifeSciences, Globus Medical Inc., DePuy Synthes, Ottobock., AC Mould Engineering Limited, Johnson & Johnson Services, Inc., Weber Orthopedic Inc., BSN medical, Inc., Becker Orthopedic, OPPO Medical Inc., Langer Biomechanics, McDavid Inc., Frank Stubbs Company Inc., DeRoyal Industries, Inc., Ascent Meditech Limited, Alcare Co., Ltd., among others Competitive Analysis: Global Orthopedic Braces and Supports Market The global orthopedic braces and supports market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions and others to increase their footprints in this market.
The report includes market shares of orthopedic braces and supports market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
