Knee Braces Market By Product (Prophylactic, Functional) , By Application (Sports, Arthritis) By Delivery Channel (Hospitals, E-Commerce) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Knee Braces Market Expected to Garner $2.5 Billion by 2033, Growing at a CAGR of 4.1%
The global knee braces market is expected to grow primarily due to the increasing participation in sports and physical activities, leading to higher incidences of knee injuries. The Asia-Pacific region is predicted to witness profitable growth by 2033.
As per the report published by Research Dive, the global knee braces market was valued at $1.7 billion in 2023 and is expected to register a revenue of $2.5 billion by 2033 at a CAGR of 4.1% during the forecast period 2024-2033.
Dynamics of the MarketThe rising participation in sports & physical activities, leading to higher incidences of knee injuries such as ACL tears, meniscus injuries, and ligament sprains, and the increasing awareness of injury Prevention & rehabilitation are expected to make the knee braces market a highly profitable one in the forecast period. The demand for knee braces is increasing from athletes and recreational sports enthusiasts for preventive measures and post-injury recovery.
However, according to market analysts, the limited or non-existent reimbursement policies and high costs of advanced knee braces might restrain the growth of the market.
Integration of smart technology in knee braces and the advances in materials science & manufacturing technologies are predicted to offer numerous growth opportunities for the market in the forecast period. Moreover, the growing demand for customized & personalized knee braces, leveraging advancements in 3D printing and scanning for better comfort and support is expanding knee braces market opportunities.
Key Players of the MarketThe major players of the knee braces market include Enovis Corporation, Ossur Hf. (Embla Medical hf.), 3M, Orthofix Medical, Inc. (Breg, Inc.), McDavid, Inc. (EZ GARD Industries, Inc.), Mueller Sports Medicine, Inc., Bauerfeind AG, Ottobock SE & Co. KGaA, Medi GmbH & Co. KG, and Tynor Orthotics Private Limited.
What the Report CoversIn addition to the details highlighted in this description, the comprehensive final report delves into essential market aspects. These encompass a market overview, SWOT analysis, market dynamics, Porter’s five forces analysis, segmentation (key trends, regional analysis, and forecast analysis), and company profiles (including company overview, product portfolio, operating segments, strategic initiatives, and financial performance).
Key Market SegmentsBy ProductProphylactic
Functional
By ApplicationSports
Arthritis
By Delivery ChannelHospitals
E-Commerce
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Rest of LAMEA
Key Market PlayersEnovis Corporation (DJO Global, Inc.)
3M
Medi GmbH & Co. KG
Ossur Hf. (Embla Medical hf.)
Orthofix Medical, Inc. (Breg, Inc.)
Bauerfeind AG
Ottobock SE & Co. KGaA
Mueller Sports Medicine, Inc.
McDavid, Inc. (EZ GARD Industries, Inc.)
Tynor Orthotics Private Limited