The global Orthopedic Braces & Supports Systems Market Market is expected to reach $4.3 billion by 2020, at a CAGR of 5.0% from 2015 to 2020.

Orthopedic braces and supports are designed to protect, support, and correct injuries; these are predominantly used in injury rehabilitation, injury prevention, osteoarthritic care, and post-operative care, among others. Based on the condition for which these are used, orthopedic braces & supports are segmented in four types, namely, knee braces and supports, foot and ankle braces & supports, spinal orthoses, and upper extremity braces and supports.

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The knee braces & supports segment accounted for the largest share of 42.5% of the market in 2014, and was valued at 1.4 billion in same year. The segment is expected to dominate the market, and grow at the highest CAGR of 4.6% from 2015 to 2020. However, the foot and ankle braces & supports segment is expected to grow at a CAGR of 5.8% from 2015 to 2020.

Based on end users, the global orthopedic braces and supports system market is segmented into orthopedic clinics, over-the-counter (OTC), hospitals, and other end users. In 2014, the orthopedic clinics segment accounted for the largest share, followed by the OTC segment. The large share of the orthopedic clinics segment can be attributed to the fact that patients with painful conditions, such as osteoporosis, osteoarthritis, ankle arthritis, sprains, strains, cartilage tears, and fractures prefer consulting orthopedicians rather than directly visiting hospitals.

There is a growing demand from clinicians for braces and supports that are injury- or surgery-specific, especially for knees, ankles, and shoulders. Patients with chronic pain conditions generally visit hospitals to undergo surgeries for osteoarthritis, ankle arthritis, and fractures. Orthopedic braces and supports are prescribed post-surgery, as they help in keeping bones in position, allowing limited movement and faster healing. The other end users segment comprises gyms/health clubs, sports academies/outlets, pharmacy outlets, emergency centers, and trauma centers.

North America dominated global Orthopedic Braces & Supports Systems Market market followed by Europe, Asia-Pacific, and rest of the world. North America accounted for 42.7% share of the global market in 2014, and the market in the region was valued at 1.4 billion in same year. The major drivers for the growth of this market include the region’s better reimbursement policies for orthopedic treatment, increased affordability, and higher adoption of upcoming technologies such as MIS and orthobiologics solution.
The U.S. is the largest market and contributed a share of more than 95% to the market in this region. The growth of the U.S. Orthopedic Braces & Supports Systems Market market is mainly driven by the increase in the aging population in the region. Well-defined reimbursement process for orthopedic procedures, presence of well-structured distribution channels, and popularity among the young population for preventive care are other key factors expected to drive the growth of the market in the region.

Population above the age of 65 years constituted about 14% of the total North American population in 2014. This figure is expected to increase by 20% and exceed 56 million by 2030. Since this population is more prone to osteoarthritis and bone fracture, the rapid increase in the aging population in North America is anticipated to lead to increased demand for the orthopedic treatments and implants in the region.

In 2014, Asia-Pacific (APAC) contributed a share of 14.1% to the global Orthopedic Braces & Supports Systems Market market, which can be attributed to the low cost of production in the region. The major markets in this region include China, Japan, Korea, Malaysia, and India. Japan is the largest market for orthopedic braces and support products and contributed more than 70.0% to the Asian orthopedics braces & supports systems market in 2014. Majority of the products are imported from the U.S. and European countries, including Germany, the U.K., Italy, Switzerland, and France. Only the Japanese and South Korean markets are mature in terms of advanced orthopedic braces treatments.

Major players operating in the global orthopedic braces & supports market include Bauerfeind AG (Germany) Breg, Inc. (U.S.) DeRoyal Industries, Inc. (U.S.), DJO, LLC (U.S.), Ossur (Iceland), Ottobock (Germany), and BSN Medical (Germany).

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