Global Orthopedic Braces and Supports Market - 2022-2029

Global Orthopedic Braces and Supports Market - 2022-2029

Market Overview

Orthopedic Braces and Supports Market is estimated to reach at a high CAGR of 11.2% during the forecast period (2022-2029).

Orthopedic braces come in a number of sizes, but the basic objective is to stabilize and help manage the joint. Most of them are used on the ankle and knee, but braces are for the hip, back, spine, elbow, wrist, and fingers. Orthopedic braces are designed to monitor the location of the limb and promote or impede precise movements. It can also compensate for weak muscles and correct structural deformities. Orthopedic braces are commonly used for various diagnoses, such as cerebral palsy, spina bifida, scoliosis, spinal cord injury, or stroke. Braces are also commonly used after joint surgery to keep them motionless for a while or to control their motion as the joint recovers.

Market Dynamics

The major factors propelling the growth of the Orthopedic braces and supports market are the increasing prevalence of orthopedic diseases and disorders, greater product affordability and market availability, continuous product commercialization, and rising number of sports and accident-related injuries. Moreover, increased sales of Off-the-Shelf and online products and promotion and branding initiatives are undertaken by major product manufacturers are expected to deliver significant growth to the market in the upcoming period.

Technological Advancements in Orthopedic Braces and Support Systems are expected to drive the market growth.

Top orthopedic brace and support manufacturers progressively focus on producing orthopedic braces following smart technologies. For instance, Smart orthopedic goods that have been introduced include step smart braces, smart AFO braces, and smart spine braces. Moreover, companies focus on product innovation and development to gain a competitive edge over other market players. To gain traction in the global market, companies are manufacturing smart braces with features that enable the skin to breathe and avoid developing bad smells. Additionally, manufacturers increasingly use anatomical modeling software tools and hypoallergenic materials to improve product accuracy and efficiency. Thus, from the above statements, the market is expected to drive in the forecast period.

Limited options to customize orthopedic braces and supports are expected to hamper the market growth.

Although customized and pre-made braces are available on prescription worldwide, the currently available Orthopedic braces are not as versatile. Patients with higher or lower arches, elevated physical activity, specific shoe fit problems, or severe bone or tendon problems (in contrast to normal standards) prefer prescription orthopedic braces (compared with Orthopedic products). Orthopedic braces must be replaced every few months (compared to prescription orthotics that last for years with minimal refurbishment). The lack of customizations for orthopedic braces is one of the main factors responsible for limiting the wider adoption of orthopedic braces and supports during the forecast period.

Industry Analysis

The orthopedic braces and supports market provides in-depth analysis of the market based on various industry factors such as unmet needs, pricing analysis, supply chain analysis, regulatory analysis etc.

COVID-19 Impact Analysis

Orthopedic braces and service markets are affected by a pandemic, resulting in negative short-term growth due to factors such as a drastic downturn in elective surgery and a ban on organized sports. In addition, O&P clinics were temporarily closed, and hospital access was limited to non-essential care. As a result, insufficient access to hospitals, social distances, a lockdown of the population resulting in less trauma and injury to the workplace, and a slowdown in patient flow and referral has also affected business development.

Segment Analysis/B>

The knee braces and supports segment is expected to be the dominant segment in the market during the forecast period.

Knee braces are a follow-up procedure for knee surgery arising from injuries such as anterior cruciate ligament (ACL) rupture, sprained medial knee ligament, patella tendonitis, broken knee cartilage, posterior cruciate ligament (PCL) rupture, knee arthritis, and runner's knee. The favorable recovery scenario for knee braces in developed countries, the growing geriatric and obese population (at higher risk of developing osteoarthritis and other knee-related conditions) and the number of sports injuries are other factors driving the growth of knee braces and supports.

Geographical Analysis

North American region is expected to hold the largest market share in the global orthopedic braces and supports market.

The North American region accounted for the largest market share in 2021. The increasing prevalence of sport-related injuries, favorable reimbursement & insurance coverage for major orthopedic bracing procedures and, supportive government product marketing regulations and product launches and collaborations by the market players are the factors the market is expected to drive in the forecast period. For instance, according to Johns Hopkins University, In the United States, about 30 million children and teenagers participate in organized sports, and more than 3.5 million injuries occur each year, resulting in some loss of participation time. Sports-related injuries account for nearly one-third of all childhood injuries. Moreover, Breg, Inc. (US) launched 15 new Pinnacle and Ascend Portfolio items within the spinal braces market in February 2021, and DJO LLC launched the X-ROM Post-Op Knee Brace in June 2020. Thus, from the above statements, the North American region accounted for the largest market share in the forecast period.

Competitive Landscape

Major key players in the orthopedic braces and supports market are m Company, Alcare Co., Ltd., Bauerfeind Ag, Bird and Cronin, Inc., Breg, Inc.,Bsn Medical, Deroyal industries, inc., DJO finance LLC, MEDI GMBH & CO. KG, Össur Hf among others.

DJO Finance LLC:

Overview:

DJO Finance LLC (US) is one of the major players in this market. The company offers a wide range of orthopaedic braces and supports used in a variety of areas, such as ligament injuries, preventive care, and post-operative rehabilitation. The company has distribution networks in Australia, Canada, South Africa, and Tunisia and distributes its products and services in more than 36 countries. DJO focuses mainly on the development of technologically innovative products to strengthen its market position.

Product Portfolio:

The company’s portfolio comprises essential orthopedic braces & supports for Knee, Spine, Hip, Hand, Shoulder, and Foot, etc.

The global orthopedic braces and supports market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.