Pune India, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Orthopaedic braces & support market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Orthopaedic braces & support market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, distribution channel, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Orthopaedic braces & support market are 3M, Essity Medical Solutions (BSN Medical), DJO LLC, OTTOBOCK, Ossur, Stubbs Company Inc., Bauerfeind, Zimmer Biomet, Frank ALCARE Co. Ltd, Becker Orthopaedic, Bird & Cronin LLC, DeRoyal Industries Inc., and Medi GmbH & Co. KG, among others. To achieve a substantial market share in the worldwide Orthopaedic braces & support market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Orthopaedic braces and supports are medical aids that assist people with chronic pain or temporary discomfort while they recover from surgery or sports injuries. They are made of rigid materials, such as hard plastics, soft materials, like spandex, or other tightly knit fabrics, to limit the movement of a joint. They are used to limit the range of motion and align certain body parts, such as the hip, foot, knee, spine, ankle, shoulder, and elbow. Therefore, to decrease the impact of the outside environment on the wounded body parts throughout the healing and rehabilitation process, doctors may suggest specific medical devices. The global rise in accidents involving sports and transportation is the main factor driving the market. Patients are increasingly turning to non-invasive treatments like physical therapy and assistive technology for a speedy recovery. The increasingly older population, which is more susceptible to osteoporosis, spondylitis, and arthritis, is a substantial growth-inducing factor. Major companies are also producing flexible braces with a simpler user interface while taking consumer wants into consideration. They are also using Velcro and pulley systems to replace laces, which will make application and customization easier. Along with the increased frequency of minor and major musculoskeletal deformities and dysfunctions brought on by people's busy lifestyles, this is positively influencing the market growth.
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Scope of Orthopaedic Braces & Support Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Distribution Channel, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | 3M, Essity Medical Solutions (BSN Medical), DJO LLC, OTTOBOCK, Ossur, Stubbs Company Inc., Bauerfeind, Zimmer Biomet, Frank ALCARE Co. Ltd, Becker Orthopaedic, Bird & Cronin LLC, DeRoyal Industries Inc., and Medi GmbH & Co. KG, among others. |
Segmentation Analysis
Lower extremity brace & supports equipment is expected to be the fastest-growing segment in 2022.
The product segment is a lower extremity brace & supports and upper extremity braces & supports. The lower extremity brace & supports equipment segment is expected to witness the highest growth rate during the forecast period. An increase in incidence of injuries to the legs and knees is driving the demand for lower extremity braces and supports. Lower extremity braces and supports are gaining popularity due to their many benefits, which include decreased knee rotation, lateral and medial support, protection from injury risk following surgery, and decreased injuries during movement. The populations most likely to require lower extremity braces and supports are those who have arthritis and other joint-related diseases, athletes, and those who have had knee and ankle surgery.
Retail sales equipment is expected to be the fastest-growing segment in 2022.
The distribution channel segment is retail sales and institutional sales. The retail sales segment is expected to witness the highest growth rate during the forecast period. Some Orthopaedic braces can only be worn under the guidance of medical specialists or Orthopaedic technologists due to the necessity for customization or product variation based on patient characteristics. Braces, such as wrist/hand, ankle, and elbow braces, are marketed through retail establishments since their use is not restricted by the endorsement of medical professionals. Six out of ten Orthopaedic supports and braces are purchased through retail pharmacies or retail sales channels. Patients commonly rely on products for the upper extremities as safety nets against mishaps. Amazon, BraceAbility, and Alibaba are well-known e-commerce companies that sell Orthopaedic products.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the Orthopaedic braces & support market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North America region witnessed a major share. North America is one of the major contributors to the market because of the increased prevalence of musculoskeletal disorders and sports-related injuries in the area. Data from the National Center for Injury Prevention and Control of the Centers for Disease Control and Prevention estimates that 22,887,137 patients reported non-fatal injuries to emergency rooms in the United States in 2020. (CDC). The growing geriatric population is another factor fueling the market's rise. The World Population Aging report predicts that by 2030, there will be 84,813 thousand Americans over the age of 65, up from 53,340 thousand in 2019. Their percentage of the total population may also increase.
Country Analysis
- Germany
Germany's orthopaedic braces & support market size was valued at USD 0.37 billion in 2022 and is expected to reach USD 0.60 billion by 2030, at a CAGR of 6.3% from 2023 to 2030.
Because locals are eating more fast food and the food industry is growing. Based in this area there are global cosmetic corporations including Unilever Group, Procter & Gamble Co., L'Oréal Group, and Colgate-Palmolive.
- China
China’s orthopaedic braces & support market size was valued at USD 0.38 billion in 2022 and is expected to reach USD 0.63 billion by 2030, at a CAGR of 6.6% from 2023 to 2030. The dominant businesses in the area are focusing on a variety of tactics, including technological breakthroughs as well as expanding manufacturing and research capacities. The usage of Orthopaedic braces and support systems is expected to rise in the next years, and smart technologies will also likely be more widely accepted in hospitals and Orthopaedic centers thanks to recent advancements in facial braces and supports.
- India
India's orthopaedic braces & support market size was valued at USD 0.29 billion in 2022 and is expected to reach USD 0.47 billion by 2030, at a CAGR of 6.5% from 2023 to 2030. Due to factors like increased sales of knee braces and supports, the presence of significant businesses, and strong healthcare infrastructure, the market in the region is expected to grow.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the Orthopaedic braces & support market is mainly driven by the rise in Orthopaedics disorders.
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