Knee Braces Market Booming Growth in Future Scope 2023-2030 | Alex Orthopedic Inc., Body Sport, Bell Horn

The Knee Braces Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Knee braces provide support and stability to knees. They are used for injuries like ligament tears, cartilage damage, arthritis etc. Sportspersons also use knee braces for injury prevention.

Market Dynamics:

According to the National Center for Biotechnology Information, over 250,000 Americans undergo knee replacement surgery each year owing to knee damage. Around 30 million Americans suffer from arthritis which causes considerable knee pain. Rising incidence of knee injuries due to sports, accidents and age-related wear and tear is boosting the demand for knee braces that can support and stabilize the joint. High adoption of knee sleeves and functional knee braces for injury prevention among athletes and sportspersons is another key factor driving market growth.

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Adoption of Telehealth and Telemedicine Presents Significant Opportunities

The Covid-19 pandemic has accelerated the adoption of telehealth and telemedicine globally. Virtual consultations and remote patient monitoring solutions are enabling seamless access to healthcare while maintain social distancing. This presents lucrative opportunities for knee brace manufacturers to engage with both patients and physicians through digital platforms. Companies can provide virtual fitting and assessment services to recommend appropriate knee braces according to patients' medical condition and physical requirements. Online sales channels coupled with remote support services can help address geographic and access challenges. Live video features in telehealth platforms also support instruction and supervision of brace application techniques. The widespread shift towards telemedicine paved the way for knee brace companies to effectively reach out to a broader customer base, ensure compliance to treatment plans and provide follow up support through virtual care models. This presents significant opportunities to drive the knee braces market going forward.

Increased Adoption of 3D Printing Technology Will Reshape Knee Braces Design

3D printing or additive manufacturing technology is revolutionizing product design and development across industries. Its ability to build highly customized, complex parts with precision in small batches is finding increased use in the medical device sector as well. Knee brace manufacturers are harnessing the power of 3D printing to manufacture customized fit braces with minimal wastage of materials. 3D scanning of patients' knees helps generate digital 3D models on which braces can be precisely designed and printed. This facilitates design of braces conforming to unique bone structures, customized for individual conditions and needs. Compared to traditional thermoforming techniques, 3D printing allows sophisticated brace designs with enhanced features such as differential levels of support.

Competitive Landscape

In the segment specifically devoted to leading companies in the Knee Braces Market of the market analysis document, our researchers provide a summary of the financial statements of all the major companies, covering their noteworthy developments, product benchmarking, and SWOT analysis. The corporate profile copy also includes financial information and a business summary. The businesses in this area can be customized to match the unique needs of the client.

Some of the Top Players in Knee Braces Market:

Alex Orthopedic Inc., Body Sport, Bell Horn, Cho-Pat, DJO Global, Medi-Dyne and Medline.

On the basis of types of braces available,

Rehabilitative braces: These are involves in providing stability to allow a limited movement while an injury is healing.

Unloader braces: These braces are generally used by people suffering from arthritis to relieve the pain.

Prophylactic braces: These are the protective braces generally worn to avoid knee injuries during sports. These braces are commonly used by athletes.

Knee Sleeves: These are support devices that are used to provide compression around the knee joints are used for knee support and controlling pain and swelling around the knee area.

Based on the end user,

Hospitals
Clinics
Orthopedic Centers
Rehabilitation Centers
Others

Regional Analysis -

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
Latin America (Colombia, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Growing Prevalence of Knee Injuries is Driving the Demand in the Knee Braces Market

The increasing prevalence of knee injuries such as knee strains, tears in ligaments and meniscus has led to a rise in demand for knee braces. Knee injuries are becoming quite common in sports activities as well as due to obesity, work-related issues and age-related degeneration. According to studies, knee injuries account for around 25% of all sports-related injuries. Sports activities that involve running, twisting and turning motions like football, basketball, volleyball etc. pose high risk of knee injuries. With increasing health awareness and participation in sports, the incidence of knee injuries has been on the rise. Knee braces provide support, stability and compression to injured or weakened knees, accelerate the healing process and prevent further damage. The growing need for injury prevention and post-injury rehabilitation is a major factor propelling the demand for various knee braces in the market.

Increased Focus on Physical Fitness is Boosting Sales of Knee Braces

Staying physically active and maintaining fitness levels have become an important part of modern lifestyle. People are actively participating in sports, workout regimens and physical activities to remain healthy and fit. However, excessive physical activity and exercise also put the body under increased stress and load, making joints like knees susceptible to injuries. In order to prevent injuries and continue their fitness activities, many individuals are opting for knee braces. The growing health and fitness trend is resulting in rising adoption of knee braces. Sports knee braces are gaining popularity for injury prevention in high-risk sports. Rehabilitation knee braces are also in high demand for recovery post knee injuries or surgeries. With rising health consciousness, the market for knee braces is expected to grow steadily in the coming years.

High Cost of Knee Braces is a Major Restraining Factor

While the benefits of knee braces are immense, their higher costs in comparison to alternate treatments pose a major challenge in widespread adoption. Custom-made knee braces designed specifically for an individual's needs offer maximum support but come at a substantially higher price than off-the-shelf braces. The costs vary according to the material used, features, customization and brand value. For example, a basic knee brace can be priced around $30-$50 whereas a high-performance custom knee brace may cost over $400. Additionally, frequent replacement of worn-out braces also leads to recurring expenses. The high initial as well as maintenance costs of knee braces limit their access to users with financial constraints. Considering a significant portion of target users include elderly people and athletes with limited budgets, high pricing remains a prominent restraining factor for the knee braces market.

Reasons to Purchase this Report:

✔ Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
✔ Reports provide opportunities and threats faced by suppliers in the Knee Braces industry around the world.
✔ The report shows regions and sectors with the fastest growth potential.
✔A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
✔ The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
✔ This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.

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Questions Answered by the Report:

(1) Which are the dominant players of the Knee Braces Market?
(2) What will be the size of the Knee Braces Market in the coming years?
(3) Which segment will lead the Knee Braces Market?
(4) How will the market development trends change in the next five years?
(5) What is the nature of the competitive landscape of the Knee Braces Market?
(6) What are the go-to strategies adopted in the Knee Braces Market?

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