REDDING, Calif., June 18, 2024 /PRNewswire/ -- According to a
new market research report titled 'Orthopedic Braces
& Supports Market Size, Share, Forecast, &
Trends Analysis by Product (Knee, Shoulder, Ankle, Hand, Elbow)
Type (Soft, Hinged, Hard) Application (ACL, Osteoarthritis,
Compression, Rehabilitation) Distribution Channel – Forecast to
2031,' published by Meticulous Research®, the
orthopedic braces & supports market is projected to reach
$4.64 billion by 2031, at a
CAGR of 5.4% during the forecast period 2024–2031.
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The growth of the orthopedic braces & supports market is
driven by the increasing cases of bone fracture, the growing
incidence of musculoskeletal disorders, and the growing
availability & affordability of orthopedic support products.
However, individuals' tendency to ignore smaller injuries and low
awareness regarding bracing-mediated orthopedic treatments restrain
the growth of this market.
Additionally, the increasing availability of orthopedic support
products on online portals & rising consumer awareness are
expected to generate growth opportunities for the players operating
in this market. Furthermore, the rising prevalence of orthopedic
disorders & diseases and the increase in accidents &
sports-related injuries are major trends in the orthopedic braces
& supports market.
Increasing Cases of Orthopedic Disorders Driving Market
Growth
The population of older adults is rising globally, resulting in
the increased incidence of musculoskeletal disorders. The burden of
musculoskeletal disorders and the resultant health expenditures are
the highest among the aging population. For instance, according to
the American College of Rheumatology's March
2021 report, in 2017, nearly 1.3 billion people were living
with musculoskeletal disorders globally. Thus, the use of
orthopedic braces & supports for the clinical management of
various orthopedic disorders and diseases like rheumatoid
arthritis, carpal tunnel syndrome, osteoporotic fractures, and
osteoarthritis is increasing, driving the orthopedic braces &
supports market.
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Orthopedic braces & supports offer faster recovery and
higher clinical efficacy compared to other therapies, such as pain
medications. Additionally, increasing cases of accidental injuries
and growth in the obese population with lifestyle and
musculoskeletal disorders are factors positively impacting market
growth.
The orthopedic braces & supports market is segmented based
on product (knee braces & supports, ankle braces &
supports, foot walkers & orthoses, back, hip, and spine braces
& supports, neck & cervical braces & supports, shoulder
braces & supports, elbow braces & supports, hand &
wrist braces & supports, and facial braces & supports),
type (soft & elastic braces & supports, hinged braces
& supports, and hard & rigid braces & supports),
application (ligament injury {anterior cruciate ligament injury
and lateral collateral ligament injury}, preventive care,
post-operative rehabilitation, osteoarthritis, compression therapy,
and other applications), distribution channel (hospital pharmacies,
retail pharmacies, e-commerce, and other distribution channels),
and geography. The study also evaluates industry competitors and
analyzes the market at the regional and country levels.
The report also includes an extensive assessment of the key
growth strategies adopted by leading market players in the last
three to four years. Some of the key players operating in the
orthopedic braces & supports market are Bauerfeind AG
(Germany), Zimmer Biomet Holdings,
Inc. (U.S.), 3M Company (U.S.), Össur
hf. (Iceland), Breg, Inc. (U.S.),
Enovis Corporation (U.S.), Bird & Cronin, LLC (U.S.), DeRoyal
Industries, Inc. (U.S.), Essity Aktiebolag (publ) (Sweden), Ottobock SE & Co. KGaA
(Germany), Weber Orthopedic LP.
(U.S.), and Stubbs Company Inc. (U.S.).
Based on product, in 2024, the knee braces & supports
segment is expected to account for the largest share of
29.7% of the orthopedic braces & supports market. The
high prevalence of orthopedic injuries and the growing use of
orthopedic braces & supports in preventive care contribute to
the segment's largest share. Knee braces help athletes prevent
injuries, provide arthritic support, prevent swelling, and protect
the knees from wear and tear during exercise and physical
activity.
Furthermore, the back, hip, and spine braces & supports
segment is projected to record the highest CAGR of 5.9%
during the forecast period. The growth of this segment is driven by
increasing cases of back and spine injuries, the rising demand for
spine and hip braces & supports among the older population, and
increasing awareness regarding the advantages of back, hip, and
spine braces & supports.
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Based on type, in 2024, the soft & elastic braces &
supports segment is expected to account for the largest share of
52.5% of the orthopedic braces & supports market. The
segment's large share is attributed to the flexibility and comfort
of soft & elastic braces & supports, individuals' growing
use of soft & elastic braces & supports during daily
activities, the better affordability of soft & elastic braces
& supports compared to hard braces, and soft & elastic
braces' & supports' ability to improve physical function in the
long term, reduce pain in the short term, and improve muscle
activity.
Based on application, in 2024, the ligament injury segment is
expected to account for the largest share of the orthopedic braces
& supports market. The segment's large share is attributed to
the high number of accidents leading to ligament fractures, youths'
increasing participation in sports and athletic activities, and the
increasing number of individuals with diabetes and obesity at risk
of developing osteoarthritis.
Based on distribution channel, in 2024, the retail pharmacies
segment is expected to account for the largest share of the
orthopedic braces & supports market. The segment's large share
is attributed to the convenience offered by retail pharmacies, the
availability of orthopedic braces & supports at pharmacy
stores, growing awareness about orthopedic braces & supports,
and easy access to retail pharmacies.
Based on geography, the orthopedic braces & supports market
is segmented into North America
(U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain,
Denmark, Sweden, and Rest of Europe), Asia-Pacific (China, Japan,
India, Australia, South
Korea, and Rest of Asia-Pacific), Latin
America (Brazil,
Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (Saudi
Arabia, United Arab
Emirates, South Africa, and
Rest of Middle East &
Africa). In 2024, North America is expected to account for the
largest share of 36.7% of the orthopedic braces &
supports market. North America's
major market share can be attributed to the presence of leading
players, favorable government initiatives, high
healthcare expenditure across the region, and the increasing
number of accidents.
However, Asia-Pacific is
projected to register the highest CAGR during the forecast period
due to the region's growing geriatric population, increasing cases
of ligament injuries, government initiatives to support domestic
manufacturing such as the Made in China 2025 initiative, and rising cases of
diabetes which can further increase the risk of osteoarthritis.
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Scope of the Report:
Orthopedic Braces & Supports Market Assessment—by
Product
- Knee Braces & Supports
- Ankle Braces & Supports
- Foot Walkers & Orthoses
- Back, Hip, and Spine Braces & Supports
- Neck & Cervical Braces & Supports
- Shoulder Braces & Supports
- Elbow Braces & Supports
- Hand & Wrist Braces & Supports
- Facial Braces & Supports
Orthopedic Braces & Supports Market
Assessment—by Type
- Soft & Elastic Braces & Supports
- Hinged Braces & Supports
- Hard & Rigid Braces & Supports
Orthopedic Braces & Supports Market Assessment—by
Application
- Ligament Injury
- Anterior Cruciate Ligament Injury
- Lateral Collateral Ligament Injury
- Preventive Care
- Post-operative Rehabilitation
- Osteoarthritis
- Compression Therapy
- Other Applications
Note: Other applications include musculoskeletal disorders,
carpal tunnel syndrome, and occupational injuries.
Orthopedic Braces & Supports Market Assessment—by
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- E-commerce
- Other Distribution Channels
Note: Other distribution channels include physiotherapy
clinics and surgery centers.
Orthopedic Braces & Supports Market Assessment—by
Geography
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Denmark
- Sweden
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
(RoLATM)
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
(UAE)
- South Africa
- Rest of Middle East &
Africa (RoMEA)
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