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Description
Orthopedic Braces And Supports Market size was valued at USD 4,395.2 million in 2021, growing at a significant CAGR of 6.3% over 2022-2028. The orthopedic braces and supports market is being propelled forward by the growing incidence of orthopedic diseases and disorders, constant technological commercialization, higher product accessibility, availability of materials, increasing number of sports and accident-related injuries, and increasing public awareness of preventive care. Because fat persons are at a higher risk of orthopaedic and musculoskeletal injuries, as well as diabetes, the frequency of orthopaedic diseases and disorders is expected to climb even more in the coming years as the prevalence of overweight and obesity and associated lifestyle problems increases. Orthopedic braces and supports provide various advantages over traditional solutions, including lower cost, improved efficacy, more patient comfort, and ease of use. Key manufacturers are rapidly creating customised solutions for the treatment of various orthopedic ailments as well as to meet unmet market needs as a result of these benefits. Major end-user facilities (such as hospitals, surgical centers, and orthopedic clinics) in developed markets such as the United States, Germany, the United Kingdom, and Japan are progressively adopting innovative orthopedic braces. On the other hand, end-user facilities in emerging and developing markets are cautious about accepting new items due to a lack of understanding and pricing. These people appreciate traditional/well-established things that have proven clinical evidence to support their therapeutic/diagnostic purpose. Hospitals and surgical centers segment will account for the greatest market share in the global orthopedic braces and support market, according to the distribution channel. In 2022, the largest end-user category in the orthopedic braces and supports market is predicted to be hospitals and surgical centers. The expanding number of orthopedic surgical procedures that require post-operative patient rehabilitation, as well as advantageous reimbursement for personalized braces and supports, are driving the market growth.
Recent Market Developments:
In Feb. 2021, Breg, Inc., a leading orthopedic bracing and billing services company, has announced the launch of two new lines of spinal orthoses: Pinnacle and Ascend™. The 15 new products, manufactured exclusively by Breg, are designed to elevate care for patients with spinal injuries.
In March 2022, With changing demographics, the rise of digital technologies, and sharing industry best practices, Ottobock announces the appointment of a dynamic, next-generation leader to take charge of one of the most integral roles in the orthotic and prosthetic industry. Signifying a shift in the way Ottobock approaches education, training, and clinical support, Aideen Curran has been named the Director of Professional and Clinical Services (PCS), Ottobock North America.
