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Global Orthopedic Braces and Support System Market Investigation & Development Trends Analyzed till 2022 with Competition Tracking- Bauerfeind AG, Breg, BSN Medical GmbH, DeRoyal Industries, DJO Global, Ossur hf., Otto Bock Healthcare, Promedics Orthopedi
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Leg and Knee Injury to Boost Adoption
In order to offer comfort and convenience, the manufacturers in the orthopedic industry are focusing on exploring leading technology to integrate advanced features in the orthotic shoe devices that enable the end users to keep their foot in the neutral position and offer cushioning to protect the foot from overuse. Increasing incidences of fracture has led to surge in demand for speedy restoration process post removal of the cast. In addition, growing need to support the weak limbs continues to boost sales of the orthopedic braces and supports globally. The orthopedic braces guide or control an injured body segment or joint and immobilizes or limits an extremity during foot injury.
Application of the orthopedic braces also witness significant demand for managing weight issues among obese people. Obese patients struggle to walk or move comfortably and conveniently due to unmanageable weight. In order to reduce the weight bearing, the orthopedic braces are increasingly used among the obese people.
Technological Advancements to Underscore Lucrative Growth Opportunities
Manufacturers in the orthopedic industry are increasingly focusing on designing the orthopedic braces in line with smart technology. Some of the recently launched orthopedic products equipped with smart technology include step smart braces, smart AFO braces and smart spine braces. Companies operating in this industry are focusing on product innovation and developments in order to gain a competitive edge over the other market players. In order to gain traction in the global market, the companies are designing the smart devices with features that enable the skin to breathe and avoid developing bad smell. Manufacturers are increasingly adopting anatomical modelling software applications and hypoallergenic materials for enhanced accuracy and efficiency in designing the product. As these devices are lightweight and water resistant, demand for the orthopedic devices is likely to increase in the healthcare industry.
Hospitals to Represent a Leading Segment
With the growing prevalence of knee and leg injuries has led to an upsurge in demand for the knee braces & supports. On the basis of product type, the knee braces & supports is expected to generate significant revenues, accounting for a value of over US$ 500 Mn by the end of 2022. The knee braces & support product type segment is expected to register a robust CAGR throughout the forecast period.
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Based on end users, the hospitals segment is expected to represent the highest revenue growth, recording a value of over US$ 500 Mn by the end of 2017. However, the ASCs end users segment is expected to register the highest CAGR through 2022.
Competition Tracking
Leading market players operating in the global orthopedic braces & support system market include Bauerfeind AG, Breg, Inc., BSN Medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Ossur hf., Otto Bock Healthcare GmbH, Promedics Orthopedics Ltd., Ascent Meditech Ltd. and Trulife Inc.
Factors Fuelling Growth of the Global Market
Growth of the global orthopedic braces & support system market is mainly bound by various macro-economic and micro-economic factors. Prevalence of spinal deformities, impaired muscles, fracture injury, arthritis, paralysis and sciatic nerve has revved up adoption of orthopedic braces in the global market. A recent report by CDC states that an estimated 22.7% of adults had doctor-diagnosed arthritis in 2015 along with higher age-adjusted prevalence in women (23.5%) then in men (18.1%). Growing prevalence of foot issues has led to increasing adoption of orthotic shoe devices and braces globally.
Table of Content:
Chapter 1 Global Outlook
1.1 Global Healthcare Industry Outlook
Chapter 2 Global Orthopedic Braces & Support Systems Market - Executive Summary
Chapter 3 Global Orthopedic Braces & Support Systems Market Overview
3.1 Introduction
3.1.1 Global Orthopedic Braces & Support Systems Market Taxonomy
3.1.2 Global Orthopedic Braces & Support Systems Market Definition
3.2 Global Orthopedic Braces & Support Systems Market Size (US$ Mn) and Forecast, 2012-2022
3.2.1 Global Orthopedic Braces & Support Systems Market Y-o-Y Growth
3.3 Global Orthopedic Braces & Support Systems Market Dynamics
3.4 Supply Chain
3.5 Cost Structure
3.6 Pricing Analysis
3.7 Raw Material Sourcing Strategy and Analysis
3.8 Procedure Numbers, By Region
3.9 PEST Analysis
3.10 Product Life Cycle Analysis
3.11 Key Participants Market Presence (Intensity Map) By Region
Chapter 4 Global Orthopedic Braces & Support Systems Market Analysis and Forecast, 2012-2022
4.1 Global Orthopedic Braces & Support Systems Market Size and Forecast By Product, 2012-2022
4.1.1 Knee Braces & Supports Orthopedic Braces & Support Systems Market Size and Forecast, 2012-2022
4.1.1.1 Revenue (US$ Mn) Comparison, By Region
4.1.1.2 Market Share Comparison, By Region
4.1.1.3 Y-o-Y growth Comparison, By Region
4.1.2 Foot and Ankle Braces & Supports Orthopedic Braces & Support Systems Market Size and Forecast, 2012-2022
4.1.2.1 Revenue (US$ Mn) Comparison, By Region
4.1.2.2 Market Share Comparison, By Region
4.1.2.3 Y-o-Y growth Comparison, By Region
4.1.3 Spinal Orthoses Orthopedic Braces & Support Systems Market Size and Forecast,2012-2022
Continued……………..
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Key drivers fueling market growth include a growing geriatric population and an increase in the number of sports-related injuries among athletes.
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