Orthopaedic Braces and Support Market Assessment, By Product [Upper Extremity Braces and Supports, Lower Extremity Braces and Supports, Spinal Braces and Supports], By Type [Soft and Elastic Braces and Supports, Hinged Braces and Supports, Hard and Rigid

Orthopaedic Braces and Support Market Assessment, By Product [Upper Extremity Braces and Supports, Lower Extremity Braces and Supports, Spinal Braces and Supports], By Type [Soft and Elastic Braces and Supports, Hinged Braces and Supports, Hard and Rigid Braces and Supports], By Application [Preventive Care, Post-Operative Rehabilitation Care, Others], By End-user [Hospitals, Specialty Clinics, Others], By Region, Opportunities and Forecast, 2017-2031F

Global orthopedic braces and support market is projected to witness a CAGR of 6.2% during the forecast period 2024-2031, growing from USD 4.59 billion in 2023 to USD 7.43 billion in 2031. Growth in the global orthopedic braces and support market is driven by various factors such as the growing aging population globally, increasing number of musculoskeletal disorders, technological advancements, growing awareness regarding the potential benefits of using orthopedic braces, escalating demand for lower extremity braces and support, and increased research and development initiatives. Increasing investments by medical devices manufacturers and other related organizations in the orthopedic braces and support market, the presence of several top players, and the continuous developmental strategies like mergers, acquisitions, collaborations, and new innovative product launches are accelerating the growth of global orthopedic braces and support market.

The global orthopedic braces and support market is further undergoing robust growth due to the increase in aging population worldwide, which is leading to increased vulnerability towards several orthopedics health conditions, such as arthritis, fractures, spinal deformities, and joint pain. These health conditions require application of orthopedic braces and supports, such as knee immobilizers, elbow supports, spinal braces, to correct deformities, provide stability, and prevent further injuries. Other factors such as a growing medical devices industry, continuous technological advancements in the industry, and research and development by public and private organizations to launch innovative and efficient orthopedic braces and support further accelerating growth in the global orthopedic braces and support market.

Growing awareness regarding the potential benefits of orthopedic braces and support in the prevention, treatment, and recovery of orthopedic injuries, along with their potential to relieve pain and restoring strength, are the essential factors that are responsible for its growing popularity among the population. Increased investments by medical devices manufacturers and other related firms to enhance research and development and bring innovation in this market, along with collaboration activities between companies, such as frequent mergers and acquisitions, partnerships and distribution agreements, and innovative product launches, are further accelerating growth of the orthopedic braces and supports market.

For instance, in April 2023, Enovis Corporation, which is a global leader in the medical devices manufacturing industry announced that it has completed acquisition of Novastep, which is a global developer of foot and ankle solutions such as foot and ankle braces. This strategic acquisition would help Enovis Corporation to enhance its foot and ankle braces product portfolio and improve patient activities.

Increasing Prevalence of Musculoskeletal Conditions

As the global aging population increases, there is an increase in demand for orthopedic braces and support due to age-related health conditions like osteoarthritis, fragile bones, and joint pain. Orthopedic braces and support provide stability, manage pain, reduce inflammation, and improve range of motion and, hence, improve patient’s quality of life. The continuous rise in the growth of the aging population in developed and developing countries ensures a sustained market for orthopedic braces and supports. For instance, the World Health Organization (WHO) stated that in 2022, around 1.71 billion people had musculoskeletal conditions worldwide. Musculoskeletal conditions, such as osteoarthritis, rheumatoid arthritis, and traumatic fractures are the leading contributors to disability worldwide, as these conditions cause excessive pain and limit joint mobility and stability. Due to this, the demand for orthopedic braces and supports is increasing significantly, to provide pain relief, stability, and support to the affected area. Moreover, key market players are investing in developing advanced orthopedic braces and support solutions to cater to the need of this growing population suffering from musculoskeletal conditions. This is further accelerating the growth of the global orthopedic braces and support market.

Technological Advancements

Technological advancements are crucial in propelling the orthopedic braces and support market. These innovations improve the functionality, comfort, and effectiveness of these braces. Technological advancements, such as the integration of sensor technology and artificial intelligence (AI), to develop smart braces and supports that monitor movement and provide real-time feedback regarding improving the patient’s health conditions is resulting in an increase in the demand for orthopedic braces and supports. For instance, in March 2022, Zimmer Biomet Holdings, Inc., which is an international leader in medical technologies, announced the launch of its latest innovation “WalkAI”, which is a dynamic artificial intelligence (AI) model that has the potential to analyze the gait pattern and speed of recovery in patients post hip or knee surgery. WalkAI is the company’s first AI-based solution that, with the help of smart technology, provides informative insights in improving patient outcomes. These technological innovations in the orthopedic braces and support are leading to the growth of the global orthopedic braces and support market.

Growing Demand for Lower Extremity Orthopedic Braces and Support

Among the product segment, lower extremity orthopedic braces and support holds the largest share in the overall market. Medical conditions, such as osteoarthritis, most commonly affect the lower extremities like knees and ankles, as these are the weight-bearing joints and are subject to continuous stress during most day-to-day activities. Moreover, an increase in involvement in sports activities by youths has also led to an increase in the application of orthopedic braces and supports to prevent or treat sports-related injuries, which are most common in the lower extremities. Due to this, many key market players are launching orthopedic braces and support, especially for lower extremities.

For instance, in October 2023, Blatchford, which is a well-known prosthetics manufacturer, announced the launch of its new brace, “Tectus”, which is an artificial intelligence integrated orthotic device that assist people with partial lower limb paralysis to walk more easily and naturally with increased confidence, stability, and safety. Favorable regulatory systems and increased demand for lower extremity orthopedic braces are further propelling the global orthopedic braces and support market.

Increased Demand for Orthopedic Braces for Post-Operative Rehabilitation Care Application

Among the application segment, orthopedic braces and support for providing post-operative rehabilitation care, holds the largest share in the overall market. These braces play an essential role in post-operative rehabilitation care by providing maximum stability for healing purposes and as an assisting device during the recovery period to improve range of motion of the joint. Additionally, key market players are consistently launching new products in this segment by developing innovative and highly efficient braces, further accelerating this segment's growth. For instance, in January 2024, Enovis Corporation, a global medical technology company, announced that it launched its new “DonJoy ROAM OA knee brace” for patients affected by osteoarthritis or other knee pain and instability issues. ROAM OA knee brace works on unloader technology and unloads the pressure from the affected part of the knee, relieves pain, improves stability, and helps improve functional mobility. This brace is designed for multiple purposes, such as conservative care, preparation for surgery, and postoperative knee protection. These effective launches by key market leaders further propel the global orthopedic braces and support market.

North America Dominates the Orthopedic Braces and Support Market

North America holds the maximum share in the global orthopedic braces and support market, due to its robust healthcare infrastructure, availability of technologically advanced products, such as smart braces, favorable reimbursement policies, presence of key market players, and increased awareness among the population regarding the functional benefits of using orthopedic braces and supports to improve lifestyle and strength of musculoskeletal muscles. Moreover, the increased prevalence of disorders like arthritis that require the application of orthopedic braces and supports is also spurring the growth in this market. For instance, in the year 2023, National Center for Chronic Disease Prevention and Health Promotion stated that around 21.2 % of all adults in the United States were suffering from arthritis and it has become the leading cause of work disability in the country. Osteoarthritis, gout, and rheumatoid arthritis are the most common forms of arthritis that causes pain, swelling, and stiffness in the joints of lower extremities, which is leading to the increased demand for orthopedic braces and supports. Moreover, favorable reimbursement policies and increased research and development initiatives further drives growth of this market in the North American region.

Future Market Scenario (2024 – 2031F)

The global orthopedic braces and support market is expected to proliferate in the future, due to various factors such as increasing old age population and enhancing prevalence of orthopedic conditions like osteoarthritis, rheumatoid arthritis, fractures and joint inflammation. Technological advancements, such as the development of smart braces for improved patient health outcomes, further accelerate the growth of this market. Improved reimbursement policies, success rate of orthopedic braces and supports, especially in lower extremities, continuous product launches by leading players, and frequent collaborative ventures in the form of mergers and acquisitions, and partnership agreements are also accelerating growth in the global orthopedic braces and supports market.

Key Players Landscape and Outlook

Major participants in the global orthopedic braces and supports market are actively engaging in mergers and acquisitions. These strategic endeavors focus on consolidating market presence, improving technological advancements, and providing diversification in product launches. Mergers allow firms to leverage synergies and resources to pioneer and introduce cutting-edge solutions. Acquisitions provide entry into new markets, fostering competitive edges. Such actions further lead to flourishing growth of the market. For instance, in January 2024, OrthoPediatrics Corp., which specially works for advancement in the field of pediatric orthopedics, announced that it has successfully acquired Boston Orthotics & Prosthetics company, a global leader in pediatric orthotic management for more than 50 years. This strategic acquisition is expected to expand the product portfolio of OrthoPediatrics existing specialty bracing division and will assist in bringing innovative product launches, further providing them the opportunity to penetrate the global orthopedic braces and support market.