Press release
Orthopedic Braces & Support System Market Expansion Plans Focused at Regional Revenue Share during the Period between 2017-2022 | Keyplayers: BSN Medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Ossur hf., Otto Bock Healthcare GmbH
Growing prevalence of arthritis, spinal deformities, sciatic nerve, impaired muscle, paralysis, fracture injury and stroke has led to an upsurge in demand for orthopedic braces & support system. Improper and heavy lifting further leads to bulging or ruptured disks, scoliosis, stress-induced back pain and scoliosis. According to CDC, an estimated 22.7% of the adults reported doctor diagnosed arthritis with higher age-adjusted prevalence in the women (23.5%) as compared to men (18.1%) in 2015. Wide range of foot related problems has led to a surge in adoption of the orthotic shoe devices and other orthopedic braces globally.Request Sample here:
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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.
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
Sales to Remain High through Knee Braces & Support Products
Increasing instances of injuries in legs and knee has led to a surge in demand for the knee braces & support products. Based on product type, the knee braces & supports segment is projected to represent a robust revenue growth, recording more than US$ 500 Mn by 2022-end.
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Our report also provide with qualitative information on the factors mentioned below:
Market Penetration: Statistics regarding the competitive arena of the Industry.
Market Sizing: The projected market size in 2022 and estimation of the market from 2017 to 2022
Product Development/Innovation: Comprehensive insights on forthcoming technologies, R&D activities, and innovative product launches in the orthopedic braces & support system market
Market Overview: Market dynamics and consequent analysis of accompanying trends as well as opportunities, drivers and challenges existing in the industry
Market Development: Complete information about rewarding markets – the study examines the market for drone logistics across various regions
Market Diversification: Thorough information about fresh products, untapped geographies, and investments in the Industry
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The Orthopedic Braces Market Size reached USD 4.3 billion in 2022 and is projected to grow from USD 4.5 billion in 2023 to USD 7.3 billion by 2032, with a compound annual growth rate (CAGR) of 6.20% during the forecast period (2023 - 2032).
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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