The latest report by IMARC Group, titled “Orthopedic Braces and Supports Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global orthopedic braces and supports market size reached US$ 3.9 Billion in 2021. Orthopedic braces and supports are medical devices that alleviate chronic pain or temporary discomfort while recovering from a surgery or an athletic injury. They are made of rigid materials, such as hard plastics, soft materials such as spandex or other tightly knit fabrics, designed to inhibit the movement of a joint. They are used to align, support, stabilize, and prevent certain body parts such as the hip, foot, knee, spine, ankle, shoulder, and elbow from moving beyond a certain range of motion. As a result, these medical devices are prescribed by doctors during the recovery and rehabilitation process to reduce the impact of the external environment on the affected body parts.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Orthopedic Braces and Supports Market Trends:
The market is primarily driven by the rising incidences of road and athletic accidents across the globe. Nowadays, patients are widely adopting non-invasive healthcare treatments like physical therapy and supportive devices for a speedy recovery. In addition, the increasing geriatric population that is more susceptible to arthritis, spondylitis and osteoporosis represents another major growth-inducing factor. Besides this, key players are developing pliable braces with a simplified user interface, considering the requirements of consumers. They are also incorporating Velcro and pulley systems instead of laces to enable easy application and customization. This, coupled with the growing prevalence of minor and major musculoskeletal deformities and dysfunctions due to the hectic lifestyles of individuals, is positively influencing the market growth. Moreover, the introduction of modeling and material technology, the rising integration of advanced data sensors and synchronization systems with orthopedic devices, and the easy product availability on e-commerce platforms are some of the other factors creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 5.1 Billion by 2027, exhibiting a CAGR of 4.30% during the forecast period (2022-2027).
- Based on the product, lower extremity braces and supports are the most popular product. Other major segments are spinal, and upper extremity braces and supports.
- On the basis of the type, the market has been categorized into soft and elastic, hinged, and hard and rigid braces and supports. Amongst these, soft and elastic braces and supports exhibit a clear dominance in the market.
- Based on the application, the market has been segregated into ligament injury, preventive care, post-operative rehabilitation, osteoarthritis and others. At present, ligament injury accounts for the majority of the global market share.
- On the basis of the end user, the market has been segmented into orthopedic clinics, hospitals and surgical centers, over-the-counter (OTC) platforms, and others. Currently, orthopedic clinics hold the largest market share.
- Region-wise, North America exhibits a clear dominance in the market. Other major regions include Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been studied in the report, with some of the key players being Breg, Inc., Össur Hf, Bauerfeind AG, BSN Medical GmbH, DJO Finance LLC, 3M Company, Otto Bock Healthcare, Deroyal Industries, Inc., Medi GmbH & Co. KG, Thuasne Group, Alcare Co., Ltd, Zimmer Biomet Holdings, Inc., Trulife Group Limited, Remington Products Company and Bird & Cronin LLC.
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