Orthopedic Braces & Supports Market Analysis And Forecast To 2031: By Product (Upper extremity braces and supports {Shoulder braces and supports, Elbow braces and supports, Hand and wrist braces and supports}, Lower extremity braces and supports {Ankle braces and supports, Knee braces and supports, Foot braces and supports, Back, hip and spine braces and supports}), By Application (Preventive Care, Injury, Post-operative Rehabilitation, Osteoarthritis), By End-Use (Pharmacies, E-commerce, Hospitals, Orthopedic Clinics), And Region
The global orthopedic braces & supports market was valued at USD 3.7 billion in 2021 and it is anticipated to grow up to USD 7.3 billion by 2031, at a CAGR of 7.0% during the forecast period.
Orthopedic braces are primarily medical devices that are designed to address musculoskeletal issues, including properly aligning, correcting the position, and protecting the muscles, joints, and bones while healing from injury or trauma. They are increasingly preferred over other invasive treatments as they are less painful and assist in quick recovery while limiting the incidences of post-surgical complications.
Market Trends and Drivers
The incidence of orthopedic diseases & disorders is expected to increase further in the coming years with the rising prevalence of obesity and related lifestyle disorders, as obese individuals are at a greater risk of orthopedic & musculoskeletal injuries as well as diabetes. Orthopedic braces and supports offer several benefits, such as better affordability, higher efficacy, greater patient comfort, and ease of use compared to conventional products. Due to these benefits, key players are increasingly developing specialized products for the treatment of various orthopedic diseases as well as to address the unmet market needs. In developed as well as emerging markets, patient preference for orthopedic braces is rising due to their financial affordability and easy market accessibility. Sports and related physical activities often result in musculoskeletal injuries such as sprains, ligament injuries, and fractures. Therefore, the increasing public participation in such activities drives the prevalence of these conditions. Orthopedic braces and supports are increasingly being considered an effective clinical alternative for orthopedic surgeries for conditions such as rheumatoid arthritis, osteoporosis, gout, and fractures. Various public-private sports organizations and medical professionals are undertaking initiatives to spread public awareness related to the clinical management of orthopedic injuries, such as conferences, workshops, and symposiums.
Market Restraints and Challenges
Limited patient qualification for bracing-mediated orthopedic treatment and limited clinical evidence to support the therapeutic efficacy of orthopedic braces may impede the market growth. Bracing and support products are utilized to effectively manage orthopedic disorders and diseases, with physicians and orthopedic surgeons considering these products clinically necessary for specific conditions. However, in several cases (depending on the severity of the disease and its side effects as well as the patient’s physiology & age), patients do not qualify for bracing products. Innovative orthopedic braces are increasingly being adopted by major end-user facilities (such as hospitals, surgical centers, and orthopedic clinics) across developed markets such as the US, Germany, the UK, and Japan. However, end-user facilities across emerging and less-developed markets are reluctant to adopt novel products due to a lack of awareness and affordability. These users also prefer to utilize traditional/well-established products with proven clinical evidence to support their therapeutic/diagnostic role.
Global Orthopedic Braces & Supports Market Segmental Overview
The report analyses the global orthopedic braces & supports market based on product, application, end use, and region.
Global Orthopedic Braces & Supports Market by Product
Based on product, it is segmented into upper extremity braces and supports and lower extremity braces and supports. Upper extremity braces and supports further sub-segmented into shoulder braces and supports, elbow braces and supports, hand and wrist braces and supports. While, lower extremity braces and supports sub-segmented into Ankle braces and supports, Knee braces and supports, Foot braces and supports, Back, hip and spine braces and supports. Among these, lower extremity brace and support segment accounted for significant market share in 2021. The rising prevalence of knee, ankle, and upper extremity-related disorders and injuries has led to a huge demand for these products. Knee braces and supports held the largest revenue share in 2021, owing to a rising number of the target population affected by knee joint-related ailments. Knee braces help in pressure relief from knee joints affected by arthritis. These products are majorly used by individuals suffering from arthritis and other joint-related disorders, sports players, and patients who have undergone knee surgery.
Global Orthopedic Braces & Supports Market by Application
Based on application, it is segmented into preventive care, injury, post-operative rehabilitation, osteoarthritis and others. Among them, injury segment is expected to experience the fastest growth rate during the forecast period. 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 will augment the segmental growth.
Global Orthopedic Braces & Supports Market by End-use
Based on end-use, it is segmented into pharmacies, e-commerce, hospitals, orthopedic clinics and others. The orthopedic clinics segment accounted for significant revenue share in 2021 owing to the orthopedic clinics being the primary point of care for patients suffering from musculoskeletal pain. Hospitals held a significant market share owing to a large number of patients seeking treatment at hospitals, especially in case of traumatic injuries. These may range from spinal injuries, bone fractures, and injuries suffered in road accidents.
Geographical Analysis of Global Orthopedic Braces & Supports Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share in the market. It held a large share of the North American region due to the presence of key players and technologically equipped hospitals within the U.S. and Canada. Europe held the second-largest share of the market due to an aging population and prevalence of chronic conditions resulting in an increasing number of surgeries. As stated by the Federal Statistical Office almost 17. 2 million surgeries were performed in Germany in 2019. Out of these, intestinal, spinal, endoscopic surgeries, and hip implant surgeries were some of the most common. This is estimated to contribute to the region's share.
Major Players in the Global Orthopedic Braces & Supports Market COVID-19 Impact
COVID-19 had adversely impacted various value chain stages, primarily due to strict lockdown imposed by the government in most countries. Many companies had to halt their manufacturing for some time as well temporarily. Similarly, supply and distribution networks also got interrupted, majorly due to restrictions in traveling due to lockdown and decline in sales activity. The COVID-19 pandemic also impacted the buyer’s or customer’s buying capacity and behavior. As a result, the orthopedic braces and supports market, like other markets, saw a decline in 2020. However, with the ongoing vaccination drives and the government slowly uplifting lockdown restrictions, the economy has started to rise again. A similar trend can be observed in the global orthopedic braces and supports market. The annual revenue of the seven major players in the market saw a decline from FY 2019 to FY 2020. However, almost all players saw a peak in their revenue collection in FY 2021.
Recent Developments
- In July 2021, DJO LLC (US), renewed its partnership with U.S. Lacrosse. DJO has been the Official Sports Brace of USA Lacrosse and the US National Teams since 2017; the renewal extends the partnership to 2024.
- In July 2021, Ossur HF (Iceland) launched the Rebound Post-Op Elbow Brace.
- In Feb 2021, Breg, Inc. (US) launched within the spinal braces segment - 15 new products of the Pinnacle and the Ascend Portfolio.
- In June 2020, DJO LLC (US) launched the X-ROM Post-Op Knee Brace.
Frequently Asked QuestionsQ1. How big is the orthopedic braces & supports market?
Ans. The global orthopedic braces & supports market size was USD 3.7 billion in 2021 and is anticipated to reach USD 7.3 billion in 2031, growing at a rate of 7.0% from 2022 to 2031.
Q2. What is the orthopedic braces & supports market growth rate?
Ans. The growth rate of the orthopedic braces & supports market is 7.0%.
Q3. Which region holds a major market share for the sepsis diagnostics market?
Ans. North America holds a major market share of the orthopedic braces & supports market in 2021.
Q4. Which segment accounted for the largest orthopedic braces & supports market share?
Ans. By end user, the healthcare segment accounted for the largest orthopedic braces & supports market share.
Q5. Who are the key players in the orthopedic braces & supports market?
Ans. The global orthopedic braces & supports market report includes players such as
Q6. What are the factors driving the orthopedic braces & supports market growth?
Ans. The major factors driving the growth of the market are the rising chronic disorders across the globe.
Q7. What are the key growth strategies of orthopedic braces & supports market players?
Ans. The key growth strategies of orthopedic braces & supports market players are product launch and product approval.
Q8. Which region will provide more business opportunities for the orthopedic braces & supports market during the forecast period?
Ans. The Asia-Pacific region will provide more business opportunities for the orthopedic braces & supports market during the forecast period.
The global orthopedic braces & supports market was valued at USD 3.7 billion in 2021 and it is anticipated to grow up to USD 7.3 billion by 2031, at a CAGR of 7.0% during the forecast period.
Orthopedic braces are primarily medical devices that are designed to address musculoskeletal issues, including properly aligning, correcting the position, and protecting the muscles, joints, and bones while healing from injury or trauma. They are increasingly preferred over other invasive treatments as they are less painful and assist in quick recovery while limiting the incidences of post-surgical complications.
Global Orthopedic Braces & Supports Market Scope and Report StructureMarket Trends and DriversThe incidence of orthopedic diseases & disorders is expected to increase further in the coming years with the rising prevalence of obesity and related lifestyle disorders, as obese individuals are at a greater risk of orthopedic & musculoskeletal injuries as well as diabetes. Orthopedic braces and supports offer several benefits, such as better affordability, higher efficacy, greater patient comfort, and ease of use compared to conventional products. Due to these benefits, key players are increasingly developing specialized products for the treatment of various orthopedic diseases as well as to address the unmet market needs. In developed as well as emerging markets, patient preference for orthopedic braces is rising due to their financial affordability and easy market accessibility. Sports and related physical activities often result in musculoskeletal injuries such as sprains, ligament injuries, and fractures. Therefore, the increasing public participation in such activities drives the prevalence of these conditions. Orthopedic braces and supports are increasingly being considered an effective clinical alternative for orthopedic surgeries for conditions such as rheumatoid arthritis, osteoporosis, gout, and fractures. Various public-private sports organizations and medical professionals are undertaking initiatives to spread public awareness related to the clinical management of orthopedic injuries, such as conferences, workshops, and symposiums.
Market Restraints and ChallengesLimited patient qualification for bracing-mediated orthopedic treatment and limited clinical evidence to support the therapeutic efficacy of orthopedic braces may impede the market growth. Bracing and support products are utilized to effectively manage orthopedic disorders and diseases, with physicians and orthopedic surgeons considering these products clinically necessary for specific conditions. However, in several cases (depending on the severity of the disease and its side effects as well as the patient’s physiology & age), patients do not qualify for bracing products. Innovative orthopedic braces are increasingly being adopted by major end-user facilities (such as hospitals, surgical centers, and orthopedic clinics) across developed markets such as the US, Germany, the UK, and Japan. However, end-user facilities across emerging and less-developed markets are reluctant to adopt novel products due to a lack of awareness and affordability. These users also prefer to utilize traditional/well-established products with proven clinical evidence to support their therapeutic/diagnostic role.
Global Orthopedic Braces & Supports Market Segmental OverviewThe report analyses the global orthopedic braces & supports market based on product, application, end use, and region.
Global Orthopedic Braces & Supports Market by ProductBased on product, it is segmented into upper extremity braces and supports and lower extremity braces and supports. Upper extremity braces and supports further sub-segmented into shoulder braces and supports, elbow braces and supports, hand and wrist braces and supports. While, lower extremity braces and supports sub-segmented into Ankle braces and supports, Knee braces and supports, Foot braces and supports, Back, hip and spine braces and supports. Among these, lower extremity brace and support segment accounted for significant market share in 2021. The rising prevalence of knee, ankle, and upper extremity-related disorders and injuries has led to a huge demand for these products. Knee braces and supports held the largest revenue share in 2021, owing to a rising number of the target population affected by knee joint-related ailments. Knee braces help in pressure relief from knee joints affected by arthritis. These products are majorly used by individuals suffering from arthritis and other joint-related disorders, sports players, and patients who have undergone knee surgery.
Global Orthopedic Braces & Supports Market by ApplicationBased on application, it is segmented into preventive care, injury, post-operative rehabilitation, osteoarthritis and others. Among them, injury segment is expected to experience the fastest growth rate during the forecast period. 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 will augment the segmental growth.
Global Orthopedic Braces & Supports Market by End-useBased on end-use, it is segmented into pharmacies, e-commerce, hospitals, orthopedic clinics and others. The orthopedic clinics segment accounted for significant revenue share in 2021 owing to the orthopedic clinics being the primary point of care for patients suffering from musculoskeletal pain. Hospitals held a significant market share owing to a large number of patients seeking treatment at hospitals, especially in case of traumatic injuries. These may range from spinal injuries, bone fractures, and injuries suffered in road accidents.
Geographical Analysis of Global Orthopedic Braces & Supports MarketRegion-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share in the market. It held a large share of the North American region due to the presence of key players and technologically equipped hospitals within the U.S. and Canada. Europe held the second-largest share of the market due to an aging population and prevalence of chronic conditions resulting in an increasing number of surgeries. As stated by the Federal Statistical Office almost 17. 2 million surgeries were performed in Germany in 2019. Out of these, intestinal, spinal, endoscopic surgeries, and hip implant surgeries were some of the most common. This is estimated to contribute to the region's share.
Major Players in the Global Orthopedic Braces & Supports Market COVID-19 ImpactCOVID-19 had adversely impacted various value chain stages, primarily due to strict lockdown imposed by the government in most countries. Many companies had to halt their manufacturing for some time as well temporarily. Similarly, supply and distribution networks also got interrupted, majorly due to restrictions in traveling due to lockdown and decline in sales activity. The COVID-19 pandemic also impacted the buyer’s or customer’s buying capacity and behavior. As a result, the orthopedic braces and supports market, like other markets, saw a decline in 2020. However, with the ongoing vaccination drives and the government slowly uplifting lockdown restrictions, the economy has started to rise again. A similar trend can be observed in the global orthopedic braces and supports market. The annual revenue of the seven major players in the market saw a decline from FY 2019 to FY 2020. However, almost all players saw a peak in their revenue collection in FY 2021.
Recent Developments- In July 2021, DJO LLC (US), renewed its partnership with U.S. Lacrosse. DJO has been the Official Sports Brace of USA Lacrosse and the US National Teams since 2017; the renewal extends the partnership to 2024.
- In July 2021, Ossur HF (Iceland) launched the Rebound Post-Op Elbow Brace.
- In Feb 2021, Breg, Inc. (US) launched within the spinal braces segment - 15 new products of the Pinnacle and the Ascend Portfolio.
- In June 2020, DJO LLC (US) launched the X-ROM Post-Op Knee Brace.
Frequently Asked QuestionsQ1. How big is the orthopedic braces & supports market?
Ans. The global orthopedic braces & supports market size was USD 3.7 billion in 2021 and is anticipated to reach USD 7.3 billion in 2031, growing at a rate of 7.0% from 2022 to 2031.
Q2. What is the orthopedic braces & supports market growth rate?
Ans. The growth rate of the orthopedic braces & supports market is 7.0%.
Q3. Which region holds a major market share for the sepsis diagnostics market?
Ans. North America holds a major market share of the orthopedic braces & supports market in 2021.
Q4. Which segment accounted for the largest orthopedic braces & supports market share?
Ans. By end user, the healthcare segment accounted for the largest orthopedic braces & supports market share.
Q5. Who are the key players in the orthopedic braces & supports market?
Ans. The global orthopedic braces & supports market report includes players such as
Q6. What are the factors driving the orthopedic braces & supports market growth?
Ans. The major factors driving the growth of the market are the rising chronic disorders across the globe.
Q7. What are the key growth strategies of orthopedic braces & supports market players?
Ans. The key growth strategies of orthopedic braces & supports market players are product launch and product approval.
Q8. Which region will provide more business opportunities for the orthopedic braces & supports market during the forecast period?
Ans. The Asia-Pacific region will provide more business opportunities for the orthopedic braces & supports market during the forecast period.
Please Note: This report will be delivered by publisher within 3-4 business days of order confirmation.