Market Analysis
The global orthopedic braces market is anticipated to grow at a 6.20% CAGR between 2022-2030, states the latest Market Research Future (MRFR) report. Orthopedic braces, simply put, are medical devices that have been specially designed for musculoskeletal issues. These braces are generally used to accurately align, support, correct the position, stabilize, and protect various body parts, especially the bones, joints, and muscles, as they recover from trauma or injury. A qualified medical expert after conducting a diagnosis and becoming familiar with the causes and symptoms can begin with the treatment that determines the type of brace that is ideal for a patient along with the protection, level of stability, function, and support. Patients that have suffered from broken bones, dislocated joints, pulled muscles, fractures, and sprains can benefit largely from using orthopedic braces.
Various factors are propelling the orthopedic braces market size. Such factors, according to the latest Market Research Future report, include increasing number of road accidents, various technological advancements, growing prevalence of osteoarthritis, increasing public awareness regarding preventive care, increasing number of accident-related and sports injuries, easy availability, and greater product affordability. Additional factors propelling the growth of the orthopedic braces market include continuous product commercialization, increasing incidence of various orthopedic disorders and diseases, and increasing geriatric population.
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On the contrary, lack of personalization, inadequate reimbursement, and preference of patients for alternative treatment are factors that may deter the orthopedic braces market growth during the forecast period.
Market Segmentation
The Market Research Future report offers a complete segmental analysis of the orthopedic braces market based on end user, application, type, and product.
By product, the orthopedic braces market is segmented into upper extremity braces, foot & ankle braces, knee braces, and others. Of these, the knee braces will lead the market during the forecast period as they offer lateral and medial support, protection from post-surgical risks of injuries, restricted injury during motion, and reduces knee rotation.
By type, the orthopedic braces market is segmented into hard braces, hinged braces, and soft & elastic braces. Of these, the soft & elastic braces will dominate the market during the forecast period as they are highly customizable, flexible, as well as easy to use.
By application, the orthopedic braces market is segmented into osteoarthritis, post-operative rehabilitation, preventive care, ligament injury, and others. Of these, ligament injury will have the maximum share in the market during the forecast period for the rising number of accidents worldwide and rising incidence of ligament injuries.
By end user, the orthopedic braces market is segmented into surgical centers, hospitals, orthopedic clinics, and others. Of these, orthopedic clinics will have the largest share in the market during the forecast period for the increasing number of orthopedic surgeries carried out in orthopedic clinics worldwide.
Regional Analysis
By region, the orthopedic braces market report covers the latest trends and growth opportunities across Europe, the Americas, the Middle East & Africa, and the Asia Pacific. Of these, the Americas will command the largest share in the market during the forecast period for supportive government regulations exclusively for product commercialization and favorable reimbursement for orthopedic bracing procedures.
The orthopedic braces market in Europe will have the second-largest share in the market during the forecast period for the presence of developed European countries within the medical sector.
The orthopedic braces market in the APAC region will grow at the fastest pace during the forecast period. The rising incidence of sports-related injuries coupled with the rising geriatric population, is adding to the growth of the orthopedic braces market in the region.
The orthopedic braces market in the MEA will have a stable growth during the forecast period for the increasing public awareness about orthopedic braces and increasing healthcare expenditure.
Key Players
Notable players profiled in the orthopedic braces market report include Aspen Medical Products (US), THUASNE SA (France), DeRoyal Industries, Inc. (US), Frank Stubbs Company Inc. (USA), Weber Orthopedic Inc. (US), DJO LLC (US), Ottobock (Germany), Breg, Inc. (US), Bauerfeind (Germany), and BSN medical (Germany).
Industry News overview
June 2019- MIT engineers have come up with 3-D-printed, pliable mesh materials for knee and ankle braces.
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