Orthopedic Braces and Supports Market to 2023 - Top Companies are BSN MEDICAL GMBH, 3M HEALTHCARE, DJO, OSSUR, OTTO BOCK HEALTHCARE, ZIMMER HOLDINGS

Global Orthopedic Braces and Supports Market Highlights
The global orthopedic braces and supports market is expected to register a CAGR of 6.0% during the forecast period (2018 - 2023). There is a growing demand for orthopedic braces and support systems to improve the structural and functional features of the skeletal and neuromuscular system.

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Rise in Musculoskeletal Disorders
Osteoporosis is one of the major cause of musculoskeletal disorders. According to International Osteoporosis Foundation (IOF), globally it is estimated that more than 8.9 million fractures occur every year due to osteoporosis, resulting in a fracture for every 3 seconds due to osteoporosis. Geriatric population is playing a vital role in accelerating the demand for the orthopedic braces and support products in the market. Because of aging several changes occur in the skeletal and neuromuscular systems, which results in the weak ligament, arthritis, and ligament tear. At present, the geriatric population is growing at rapid pace. So, the rising musculoskeletal disorders driving the market along with the other factors such as increasing number of road accidents and bone fracture cases.

Key Developments in the Market
October 2017: 3M has acquired Scott Safety

Major Players:
BSN MEDICAL GMBH, 3M HEALTHCARE, DJO LLC, OSSUR, OTTO BOCK HEALTHCARE, ZIMMER HOLDINGS INC., among others..

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Negligence toward Minor Injuries
Most of the times, people who are suffering from musculoskeletal pains and swelling are self-prescribing themselves. This mostly involves the usage of pain killers and pain relief ointments which are easily available in the market, so this negligence for the minor injuries are hindering the growth of orthopedic braces and supports the market. And other factors such as lack of awareness regarding the new orthopedic braces and support leads is also restraining the market growth.

North America to dominate the Market
North America has the largest regional market share with revenue estimated at over 35% due to the continuous developments and commercialization of these orthopedic braces and support products and availability of several medical reimbursements & insurance policies for major orthopedic bracing procedures are helping the market to grow in this region. Asia-Pacific is estimated to register the fastest CAGR through the forecast period (2018-2023).

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This release was published on openPR.