COVID-19 Impact Assessment

The COVID-19 pandemic has impacted almost all business areas, especially the healthcare sector. Hospitals, clinics, and healthcare centers had to quickly adapt to the highest sterilization processes and defer elective treatment and surgical appointments to prevent patients from contracting. All non-emergency healthcare appointments were postponed or attended online; patients refrained from approaching hospitals and clinics due to the fear and anxiety of infection. Such changes in the healthcare sector negatively impacted orthopedic consultations and the growth of the orthopedic braces & supports market.

Understanding the Dynamics of Orthopedic Braces and Supports Market
Market Overview
The orthopedic braces and supports market is witnessing robust growth, underpinned by an aging population, rising incidences of sports injuries, and advancements in orthopedic technology. From traditional braces to cutting-edge exoskeletons, the market encompasses a diverse array of products catering to varied therapeutic needs.
Key Growth Drivers
1. Rising Incidences of Musculoskeletal Disorders
The prevalence of musculoskeletal disorders, including osteoarthritis, fractures, and ligament injuries, continues to escalate globally. This surge in orthopedic ailments underscores the indispensability of orthopedic braces and supports in alleviating pain, promoting recovery, and enhancing quality of life.
2. Technological Advancements
Advancements in material science, biomechanics, and manufacturing processes have fueled the evolution of orthopedic braces and supports. From lightweight materials to customizable designs, modern braces offer superior comfort, durability, and functionality, catering to the diverse needs of patients.
3. Aging Population Demographics
The aging demographic profile, particularly in developed nations, has emerged as a significant catalyst for market growth. With an aging population predisposed to orthopedic conditions such as osteoporosis and degenerative joint diseases, the demand for orthopedic braces and supports is poised to escalate substantially.
Market Segmentation
1. Product Type
• Knee Braces & Supports
• Ankle Braces & Supports
• Back Braces & Supports
• Wrist Braces & Supports
• Shoulder Braces & Supports
• Elbow Braces & Supports
2. Application
• Sports & Fitness
• Trauma Rehabilitation
• Osteoarthritis Management
• Post-operative Care
• Pediatric Orthopedics
3. Distribution Channel
• Hospitals & Clinics
• Retail Pharmacies
• Online Retail
Regional Analysis
North America
North America commands a significant share of the global orthopedic braces and supports market, driven by a robust healthcare infrastructure, high healthcare expenditure, and a proactive approach towards musculoskeletal wellness. Moreover, strategic collaborations between manufacturers and healthcare providers foster product innovation and market expansion in the region.

Europe
Europe represents another lucrative market for orthopedic braces and supports, characterized by a growing geriatric population and increasing awareness regarding orthopedic care. Stringent regulatory frameworks and emphasis on product quality propel market growth, with countries like Germany and the UK emerging as key revenue contributors.
Asia Pacific
The Asia Pacific region exhibits immense growth potential, buoyed by rapid urbanization, expanding healthcare access, and increasing disposable incomes. Market players are capitalizing on this burgeoning opportunity by introducing affordable, innovative orthopedic braces and supports tailored to the needs of diverse demographics.
Outlook: Navigating Towards Technological Advancements and Market Expansion
The orthopedic braces and supports market is poised for continued expansion, driven by relentless innovation and a growing emphasis on patient-centric care. As manufacturers leverage technologies such as 3D printing, smart sensors, and data analytics, the landscape is primed for transformative advancements that enhance therapeutic outcomes and patient satisfaction.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America, and Middle East & Africa.
Based on geography, North America is expected to account for the largest share of the global orthopedic braces & supports market in 2022, followed by Europe. However, Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this market is primarily driven by changing healthcare infrastructure, the growing prevalence of orthopedic-related diseases, and rising disposable income.
Key Players
The key players operating in the global orthopedic Braces and 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), and Ottobock SE & Co. KGaA (Germany).
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Key questions answered in the report-
• Which are the high-growth market segments in terms of product, type, application, and distribution channel?
• What was the historical market for orthopedic braces & supports market across the globe?
• What are the market forecasts and estimates for the period 2022–2029?
• What are the major drivers, restraints, opportunities, and trends in the global orthopedic braces & supports market?
• Who are the major players in the global orthopedic braces & supports market?
• How is the competitive landscape, and who are the market leaders in the global orthopedic braces & supports market?
• What are the recent developments in the orthopedic braces & supports market?
• What are the different strategies adopted by the major players in the orthopedic braces & supports market?
• What are the geographical trends and high growth regions/countries?
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