Bharat Book Bureau Provides the Trending Market Research Report on “Orthopedic Braces & Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Neck, Elbow, Hand, Wrist), Category (Soft, Rigid, Hinged), Application (Ligament (ACL, LCL), Preventive, OA), Distribution (Pharmacies) & Region - Global Forecast to 2027”under Life Sciences Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
The global Orthopedic Braces and Supports Market is estimated to reach USD 4.6 billion by 2027 from USD 3.4 billion in 2022, at a CAGR of 5.8% during the forecast period (2022-2027). Growth in the orthopedic braces and supports market is mainly driven by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability and market availability, rising number of sports and accident-related injuries, and growing public awareness of preventive care.
Increased sales of off-the-shelf and online products, and the expansion and promotion initiatives undertaken by major product manufacturers are also expected to provide a wide range of growth opportunities for players in the market. On the other hand, the limited patient qualification for bracing-mediated orthopedic treatment, limited clinical evidence to support the therapeutic efficacy of orthopedic braces, and the high adoption of pain medications are the major factors expected to limit market growth to a certain extent in the coming years.
“The knee braces and supports segment accounted for the largest share of the orthopedic braces and supports market, by product”
Based on product, the orthopedic braces and supports market is segmented into knee braces and supports; ankle braces and supports; back, hip, & spine braces and supports; foot walkers and orthoses; hand & wrist braces and supports; shoulder braces and supports; elbow braces and supports; and facial braces and supports. The knee braces and supports segment is expected to witness the highest growth during the forecast period primarily due to the several benefits offered by these products, such as medial and lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.
“The soft &elastic braces and supports segment accounted for the largest share of the orthopedic braces and supports market, by type”
Based ontype, the orthopedic braces and supports market is segmentedinto soft & elastic braces and supports, hard braces and supports, and hinged braces and supports.The soft & elastic braces and supports segment is expected to register the highest growth rate during the forecast period. Growth in this market can primarily be attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative & preventive care, and the supportive reimbursement scenario for target products across mature markets.
“Ligament injuries captured the largest market share in the orthopedic bracing and supports applications market”
Based on the application, the orthopedic braces and supports market is segmented into preventive care, ligament injury, post-operative rehabilitation, osteoarthritis, compression therapy, and other applications. The ligament injury segment is expected to command the largest share of the market in 2022. The large share of this segment can be attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), the rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries.
“Hospitals and Surgical Centres to account for the largest market share in the global orthopedic braces and supports market, by distribution channel”
Based on the distribution channel, the orthopedic braces and supports market is classified into orthopedic clinics, hospitals & surgical centers, pharmacies & retailers, e-commerce platforms, and other end users. Hospitals and surgical centers are expected to be the largest end-user segment in the orthopedic braces and supports market in 2022.
Market growth can largely be attributed to the growing number of orthopedic surgical procedures that require post-operative patient rehabilitation and the favorable reimbursement for customized braces and supports (coupled with the growing availability of insurance coverage for the surgical treatment of orthopedic disorders such as ligament injury, bone deformity, scoliosis, and osteoporosis) across major countries.
“Asia Pacificto register the highest growth rate in the orthopedic braces and supports market during the forecast period.”
Theorthopedic braces and supports market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.The Asia Pacific region is expected to be the fastest-growing region during the study period.
The demand for orthopedic braces and supports in the APAC is supported by the rising geriatric and obese population (coupled with the significant prevalence of orthopedic & diabetes-related diseases in this population segment) and increasing healthcare expenditure in APAC countries. Owing to the high-growth potential of the region, leading product manufacturers are undertaking strategic initiatives such as product commercialization to maintain their market position.
A breakdown of the primary participants referred to for this report is provided below:
•By Company Type:Tier 1–48%, Tier 2–36%, and Tier 3– 16%
•By Designation:Director-level–14%, C-level–10%, and Others–76%
•By Region:North America–40%, Europe–32%, Asia Pacific–20%, Latin America–6%, and the Middle East & Africa–2%
The major players operating in the orthopedic braces and supports market include DJO Finance LLC (US), Ossur HF (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Essity (Sweden), 3M (USA), Ottobock Holding GmbH (Germany), Thuasne Group (France), Zimmer Biomet Holdings, Inc. (US), ALCARE (Japan), Bird & Cronin, Inc. (US), Nippon and Sigmax (Japan), and Becker Orthopedic (US), among others.
Research Coverage
This report studies the orthopedic braces and supportsmarket based on product, type, application, distribution channel,and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affectingthe market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions(and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.
Browse our full report with Table of Content : https://www.bharatbook.com/report/1341118/orthopedic-braces-supports-market-by-product-knee-ankle-hip-spine-shoulder-neck-elbow-hand-wrist-category-soft-rigid-hinged-application-ligament-acl-lcl-preventive-oa-distribution-pharmacies-region-global-forecast-to
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