The global orthopedic braces and supports market size is expected to reach a value of USD 8.0 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 6.4% during the forecast period. Rising prevalence of chronic diseases such as osteoarthritis and rheumatoid arthritis has led to the market growth. The products restrict mobility to a particular direction, thereby, assisting the overall movement of a patient.
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Osteoporosis is considered as one of the leading causes of musculoskeletal or joint disorders among geriatric population, leading to the need for orthopedic braces. Geriatric population base exhibits highest incidence of musculoskeletal disorders. Thus, this group of population plays a vital role in accelerating the demand for the products. Aging leads to significant changes in the skeletal and neuromuscular systems, resulting in weak ligaments, arthritis, and Anterior Cruciate Ligament (ACL) tear. The geriatric population is also expected to grow at an unprecedented rate in the years to come. This factor is anticipated to propel the product demand in orthopedic braces and supports market.
Rising incidence of sport-related injuries has also become a leading cause for osteoarthritis among athletes. Health conscious people continuously engage in fitness-related activities. This might lead to muscle pain, which results in increased demand for braces and supports. Sometimes, athletic activities can also result in knee joint disorder or ankle injuries, which facilitate rise in demand for knee and ankle braces.
Orthopedic Braces And Supports Market Report Highlights
• Brace type held the maximum market share in 2018 owing to rising number of osteoarthritis cases, which has increased the need for braces and support devices
• Pain management products also held significant market share in 2018 due to high prevalence of joint-related disorders
• Under pain management segment, cold therapy and DVT products contributed immensely to the market growth through developmental strategies
• Orthopedic clinic was the largest revenue contributor in terms of end use segments in 2018, due to increasing preference for orthopedic consultations for quick check up
• The Over-the-Cunter (OTC) segment is anticipated to exhibit lucrative CAGR over the forecast period owing to the fact that the products are readily available in retail stores without a doctor’s prescription
• North America held the largest market share in 2018 owing to the rising healthcare expenditure and high purchasing power of the consumers
• Asia Pacific is anticipated to showcase attractive growth over the forecast period due to rising geriatric population in China
• Few key companies operating in the orthopedic braces and supports market are Bauerfeind AG; DJO Global, Inc.; Hely & Weber; Össur Corporate; Breg, Inc.; DeRoyal Industries, Inc.; Otto Bock Healthcare GmbH; and BSN Medical GmbH
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Orthopedic Braces And Supports Market Segmentation
Grand View Research has segmented the orthopedic braces and supports market on the basis of product, end use, and region:
Orthopedic Braces & Supports Product Outlook (Revenue, USD Million, 2015 - 2026)
• Brace Type
o Knee Braces & Supports
o Knee Braces for Osteoarthritis and Ligament Injuries
o Post-operational Knee Braces
o Back Braces & Supports
o Upper Spine Orthoses
o TLSOs
o LSOs
o Others
o Ankle Braces & Supports
o Soft Braces
o Hinged Braces
o Walker Boots
o Pneumatic
o Non-pneumatic
o Upper Extremity Braces & Supports
o Elbow Braces & Supports
o Wrist Braces & Supports
o Others
• Pain Management Products
o Cold Therapy Products
o DVT Products
Orthopedic Braces & Supports End Use Outlook (Revenue, USD Million, 2015 - 2026)
• Orthopedic Clinics
• Over the Counter (OTC)
• Hospitals
• Others
Orthopedic Braces & Supports Regional Outlook (Revenue, USD Million, 2015 - 2026)
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o Spain
o France
o Italy
o Russia
• Asia Pacific
o Japan
o China
o India
o South Korea
o Singapore
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
• MEA
o South Africa
o Saudi Arabia
o UAE
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.