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
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from the orthopedic braces & supports market report
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
|
Qualitative Data
|
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
We can help! Our analysts can customize the market research report to meet your requirements. Get in touch