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Description
Global orthopedic braces & support, casting & splints market was valued at US $ XX Mn and expected to grow at 5.58% Compound Annual Growth Rate (CAGR) over the 2017 to 2023.
Market Outline: Orthopedic Braces & Support, Casting & Splints Market
Orthopedic braces and orthopedic splints are medical devices designed to address musculoskeletal issues, they are used to properly align, correct the position, support, stabilize, and protect certain parts of the body, particularly the muscles, joints, and bones as they heal from injury or trauma. These medical devices are often prescribed for the patient to wear during the process of recovery and rehabilitation.
Market Dynamics: Orthopedic Braces & Support, Casting & Splints Market
Increase in the geriatric population along with increase in the bone related issues are driving the growth of the orthopedic braces & support, casting & splints market. Rising demand for the orthopedic braces and splints is attributing the growth of the market. Increase in the sport injuries is adding fuel for the growth of the orthopedic braces & support, casting & splints market. According to the Centers for Disease Control and Prevention (CDC), more than 2.6 million children 0-19 years old are treated in the emergency department each year for sports and recreation-related injuries. Growing obese population is another factor enhancing the growth of the orthopedic braces & support, casting & splints market. Technological advancements are further providing an opportunity for the growth of the market. However, the high price of the product is hampering the growth of the orthopedic braces & support, casting & splints market. The stringent government regulations are hindering the growth of the market.
Market Scope: Orthopedic Braces & Support, Casting & Splints Market
Orthopedic braces & support, casting & splints market is segmented based on the product, technology, disease indication, and distribution channel
Based on the product, the market is segmented into the following:
- Orthopedic Braces and Supports
- Upper Extremity Braces and Support
- Elbow Braces and Support
- Wrist Braces and Support
- Spinal Braces and Support
- Shoulder Braces and Support
- Neck Braces and Support
- Low Extremity Braces and Support
- Hip Braces and Support
- Knee Braces and Support
- Ankle Braces and Support
- Casting Supplies & Equipment
- Cast Cutters
- Casting Tools and Accessories
- Plaster Casts
- Casting Tapes
- Splinting Supplies & Equipment
- Splinting Tools and Accessories
- Fiberglass Splints
- Plaster Splints
- Others
- Upper Extremity Braces and Support
Based on the type, the market is segmented into the following:
- Soft & Elastic Braces and Supports
- Hinged Braces and Supports
- Hard & Rigid Braces and Supports
Based on the application, the market is segmented into the following:
- Post-operative Rehabilitation
- Osteoarthritis
- Ligament Injury
- Preventive Care
- Others
Based on the end user, the market is segmented into the following:
- Orthopedic Clinics
- Hospitals & Surgical Centers
- Others
Regional Analysis: Orthopedic Braces & Support, Casting & Splints Market
Geographically, global orthopedic braces & support, casting & splints market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America orthopedic braces & support, casting & splints market is growing due to increase in the prevalence of sport injuries which is resulting in increase in the demand for orthopedic braces & support, casting & splints. The rising obese population is another factor boosting the growth of the market in this region. According to the Centers for Disease Control and Prevention (CDC), more than one-third (36.5%) of U.S. adults have obesity and childhood obesity is a serious problem in the United States putting kids at risk for poor health. In 2011-2014 For children and adolescents aged 2-19 years, the prevalence of obesity was 8.9% among 2- to 5-year-olds compared with 17.5% of 6- to 11-year-olds and 20.5% of 12- to 19-year-olds. Europe and the Asia Pacific follow the North America region in the global orthopedic braces & support, casting & splints market. The Asia Pacific orthopedic braces & support, casting & splints market is projected to show the growth over the forecasted period owing to the presence of emerging markets.
Competition Assessment: Orthopedic Braces & Support, Casting & Splints Market
Some of the players in the global orthopedic braces & support, casting & splints market include:
- DeRoyal Industries, Inc. (U.S)
- Bauerfeind AG (Germany)
- DJO Finance LLC (US)
- Breg, Inc. (US)
- Ossur Hf (Iceland)
- Otto Bock HealthCare (Germany)
- BSN Medical (Germany)
- medi GmbH & Co. KG (Germany)
- 3M Company (US)
Notable Market Developments: Orthopedic Braces & Support, Casting & Splints Market
- In January 2017,
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