Orthopedic Braces And Supports Market: Global Market Estimation, Dynamics, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Global Orthopedic Braces And Supports Market: By Product Type (Ankle Braces and Supports, Hip, Back, & Spine Braces and Supports, Knee Braces and Supports, Elbow Braces and Supports, Hand/Wrist Braces and Supports, Shoulder Braces and Supports and Others), By Brace Type (Hard Braces and Supports, Hinged Braces and Supports, Soft & Elastic Braces and Supports), By Application (Compression Therapy, Post-operative Rehabilitation, Osteoarthritis, Ligament Injury, Preventive Care Others) and Geography

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Report

Description

The Global Orthopedic Braces and Supports Market estimated to be valued US$ 1,789.3 Mn in 2020 and poised to grow at significant CAGR of 13.1% over 2021-2026. Increase in the prevalence of orthopedic diseases and disorders such as rheumatoid arthritis, osteoarthritis, osteoporotic fractures, excessive use orthopedic braces and supports by athletes for sports injuries. Sports related injuries are burgeoning over the past few years owing to increase in number of sports activities are some key factors fostering the market growth. Orthopedic braces and supports products are used to give extra support and help control the joint pains. They are most seen in the ankle and knee, but there are braces for the hip, back, neck, elbow, wrist, and fingers. Orthopedic braces are engineered to control the position of the limb and to facilitate or hinder specific movements. It may also compensate for weak muscles and correct structural deformities. Orthopedic braces are commonly used for a wide range of diagnoses such as cerebral palsy, spina bifida, scoliosis, spinal cord injury or stroke. Braces and supports are also commonly used after joint surgery to keep them motionless for a while or to control their motion as the joint recovers. However, complications with the use of orthopedic braces and supports and lack of awareness about the orthopedic braces and supports in underdeveloped economies are restricting the market growth. In addition, presence of huge number of geriatric populations in developed and developing economies coupled with rise in prevalence of orthopedic disorders in geriatric population and rise in disposable income may surge the growth of market over the forecast years.

According to World Health Organization, Osteoarthritis is one of the top ten disabling diseases and it estimated that 9.6% of men and 18.0% of women aged over 60 years have symptomatic osteoarthritis in which, 25% cannot perform their major daily activities of life.

The demand for knee braces and supports is gradually increasing due to increase in the prevalence of arthritis, Acute Cruciate Ligament (ACL) injuries, knee surgeries, knee pain and inflammation among others.

For instance, the global ageing population is gradually increasing and between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%. This age group is most prone for orthopaedic disorders.


Orthopedic Braces And Supports Market

MARKET SUMMARY
-
13.1 %
  • Study Period– 2021-2026
  • Base Year– 2020
  • CAGR– 13.1 %
  • Largest Market– North America
  • Fastest Growing Market– APAC

Orthopedic Braces And Supports Market Report

  • The global demand for orthopedic braces and supports is projected to rise from US$ 1,789.3 Million in 2020 to US$ 3,740.5 Million by 2026 at a 13.1% CAGR. From 2021, the demand is projected to rebound and expand and reaches US$ 3,158.5 Million in 2023.
  • According to World Health Organization, the prevalence of rheumatoid arthritis is gradually increasing, and it is estimated about 0.3% to 1% in developed countries. The disease is most common in women.
  • According to U.S. Department of Health and Human Services reports an estimated 8.6 million sports injuries occur each year in the country and the most common injury types are sprains and strains, followed by fractures.
Key Players
  • Aspen Medical Products, LLC
  • Thuasne Group
  • 3M Company
  • Essity AB (BSN Medical GmbH)
  • medi GmbH & Co. KG
  • Bauerfeind AG
  • Össur
Increase in Adoption of

Orthopedic Braces And Supports Market

Over the years, utilization of orthopedic braces and supports are used by athletes for sports injuries may significantly propel the growth of market over the forecast timeframe. Sports related injuries are burgeoning over the past few years owing to increase in number of sports activities, participation of children and teen age group tend to undergo injuries. Bicycle crashes are the most common type of sports injuries in the USA followed by basketball and football. Moreover, continuous focus on the commercialization of products into market also surge the revenue growth of orthopedic braces and supports market over the forecast timeframe. strong distribution network for the companies to market the orthopedic braces and supports coupled with collaboration with local distributors in developing economies also surge the growth of market in the near future.


North-America got significant share

Orthopedic Braces And Supports Market

North America accounted for larger revenue share in Global Orthopedic Braces and Supports Market with considerable CAGR of 14.6%. The growth in this region can be attributed to growing number of sports injury cases in USA and Canada coupled with favorable reimbursement policies for the braces and supports in the region. In addition, increase in the prevalence of osteoarthritis, surge in number of accidents across the globe, and development low-cost products are anticipated to burgeon the growth of market over the forecast timeframe.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Findings of the Report

  • Global Orthopedic Braces and Supports Market expanding at significant CAGR over 2021 to 2026 owing to increase in the prevalence of orthopedic diseases and disorders.
  • Based on product type, knee braces and supports accounted for larger market revenue share in 2020 and projected gain market revenue share over the forecast period
  • Players focusing on innovation of newer products and collaboration strategies to retain market position in Global Orthopedic Braces and Supports Market

Key

Key Features of the Report

Orthopedic Braces And Supports Market segmentation


Location

GEOGRAPHY


Report

Company Profile

  • Breg, Inc.
  • DeRoyal Industries, Inc.
  • Trulife
  • McDavid
  • Hely & Weber
  • Otto Bock Healthcare GmbH
  • Aspen Medical Products, LLC
  • Thuasne Group
  • 3M Company
  • Essity AB (BSN Medical GmbH)
  • medi GmbH & Co. KG
  • Bauerfeind AG
  • Össur

Description

The Global Orthopedic Braces and Supports Market estimated to be valued US$ 1,789.3 Mn in 2020 and poised to grow at significant CAGR of 13.1% over 2021-2026. Increase in the prevalence of orthopedic diseases and disorders such as rheumatoid arthritis, osteoarthritis, osteoporotic fractures, excessive use orthopedic braces and supports by athletes for sports injuries. Sports related injuries are burgeoning over the past few years owing to increase in number of sports activities are some key factors fostering the market growth. Orthopedic braces and supports products are used to give extra support and help control the joint pains. They are most seen in the ankle and knee, but there are braces for the hip, back, neck, elbow, wrist, and fingers. Orthopedic braces are engineered to control the position of the limb and to facilitate or hinder specific movements. It may also compensate for weak muscles and correct structural deformities. Orthopedic braces are commonly used for a wide range of diagnoses such as cerebral palsy, spina bifida, scoliosis, spinal cord injury or stroke. Braces and supports are also commonly used after joint surgery to keep them motionless for a while or to control their motion as the joint recovers. However, complications with the use of orthopedic braces and supports and lack of awareness about the orthopedic braces and supports in underdeveloped economies are restricting the market growth. In addition, presence of huge number of geriatric populations in developed and developing economies coupled with rise in prevalence of orthopedic disorders in geriatric population and rise in disposable income may surge the growth of market over the forecast years.

According to World Health Organization, Osteoarthritis is one of the top ten disabling diseases and it estimated that 9.6% of men and 18.0% of women aged over 60 years have symptomatic osteoarthritis in which, 25% cannot perform their major daily activities of life.

The demand for knee braces and supports is gradually increasing due to increase in the prevalence of arthritis, Acute Cruciate Ligament (ACL) injuries, knee surgeries, knee pain and inflammation among others.

For instance, the global ageing population is gradually increasing and between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%. This age group is most prone for orthopaedic disorders.

ASIA PACIFIC OFFICE

Precision Business Insights, 5th Floor, Mohan’s Elite, Opp : Bharat Petroleum Pump, Khanamet Road, Hitech City, Hyderabad – 500084

EUROPE OFFICE

Precision Business Insights, Kemp House, 152 – 160 City Road, London EC1V 2NX