Orthopedic Braces and Supports Market by Application and Geography - Forecast and Analysis 2019-2023
- Published: Jul 2019
- Pages: 121
- SKU: IRTNTR31608
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Industry Insights
The global orthopedic braces and supports market size will grow by USD 1.16 billion during 2019-2023 at over 5% CAGR. The increasing cases of arthritis and the emergence of 3D printing are a few factors that are expected to drive market growth in the coming years. The report provides a detailed analysis of the market by application (knee, upper extremity, neck and spine, foot and ankle, and exoskeleton) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Bauerfeind AG, Breg Inc., DeRoyal Industries Inc., DJO Global Inc., and Össur hf.
Orthopedic braces and supports are used to rectify musculoskeletal issues. They are used to heal the existing injuries and trauma and are also significantly used by sportsmen to prevent strain on muscles and joints. These braces and supports are used to secure and heal the knee, upper extremity, neck and spine, foot and ankle, and exoskeleton.
Key Insights from Orthopedic Braces and Supports Market – Global Forecast 2019-2023
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The increasing cases of arthritis is one of the key factors contributing to the growth of the orthopedic braces and support market. A significant proportion of the population in the US and Canada were diagnosed with some form of arthritis in 2017. The number of people with the condition is expected to grow exponentially by 2040. This will subsequently fuel the need for treatment options such as orthopedic braces and supports, driving the growth of the global market.
The pain and immobility associated with arthritis prevent patients from performing their daily tasks seamlessly. Most of the arthritis forms are chronic, and there is no permanent cure available. Therefore, orthopedic braces and supports are recommended for long-term management of the condition. These braces and support systems reduce pressure on affected joints and provide support to rebuild strength in them. The rising incidence of arthritis and the benefits of using orthopedic braces & supports to manage the condition will further improve the growth opportunities for the vendors of the market in the coming years.
The emergence of 3D printing to prototype orthopedic braces and supports is one of the key trends contributing to the growth of the market. Orthopedic specialists are using 3D printing to make customized braces and supports to suit the body type and bone structure of the patient. The comfort and improved support offered by these customized supportive frames are increasing their demand. As a result, 3D printing vendors are venturing into the global orthopedic braces & supports market. The prevailing use of technology will support the growth of the market in the coming years. As a result of these factors, the market will register over 5% CAGR during 2019-2023.
Industry Analysis
Quantitative Data
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Qualitative Data
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Application Insights
The application segment has been broadly categorized into the knee, upper extremity, neck and spine, foot and ankle, and exoskeleton. The knee segment accounted for the highest orthopedic braces and supports market share in 2018. During the forecast period, this segment is expected to grow slower compared with the overall market. However, the neck and spine and foot and ankle segments will register faster growth rates compared with the overall market during the forecast period.
Regional Insights
North America accounted for the highest market share in 2018. During the forecast period, the growth rate of the market in the region will be slower than the growth of the overall market. The region will account for the largest orthopedic braces & supports market share throughout the forecast period. The US and Canada are the significant revenue contributors to the orthopedic braces and supports market in North America.
The increasing prevalence of arthritis in the US and Canada and rising investments in improving healthcare facilities in the countries are contributing to the growth of the market in the region. The rising sports-related injuries are also increasing the demand for orthopedic braces and supports in the region. As a result, many vendors are venturing into the market in North America.
Top Orthopedic Braces and Supports Providers
The market is moderately fragmented. The orthopedic braces and supports market analysis report provides a detailed analysis of the competitive landscape and offers information on the products offered by various companies. To enable service providers in creating strategies to make the most of future growth opportunities, the report also provides information on the upcoming orthopedic braces & supports market trends and challenges that will influence the market growth.
The report offers a detailed analysis of several companies, including:
- Bauerfeind AG
- Breg Inc.
- DeRoyal Industries Inc.
- DJO Global Inc.
- Össur hf.
Segments covered in the report
Orthopedic Braces and Supports market by application
- Knee
- Upper extremity
- Neck and spine
- Foot and ankle
- Exoskeleton
Orthopedic braces and supports market by geography
- APAC
- Europe
- MEA
- North America
- South America
Key Highlights of the Orthopedic Braces and Supports Market Forecast Report for the Period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the orthopedic braces & supports market size during the next five years
- Precise estimation of the global orthopedic braces and supports market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the orthopedic braces & supports industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of orthopedic braces and supports providers
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
- Comparison by application
- Knee - Market size and forecast 2018-2023
- Upper extremity - Market size and forecast 2018-2023
- Neck and spine - Market size and forecast 2018-2023
- Foot and ankle - Market size and forecast 2018-2023
- Exoskeleton - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Increase in development of new products
- Emergence of 3D printing
- Increasing number of strategic alliances
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Bauerfeind AG
- Breg Inc.
- DeRoyal Industries Inc.
- DJO Global Inc.
- Össur hf.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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