Orthopedic Braces Supports Market Was Valued at USD 4,395.2 Million in 2021 Owing to Growing Geriatric Population and Increased orthopedic surgeries.

According to Precision Business Insights (PBI) latest report the global orthopedic braces supports market is valued at USD 4,395.2 million in 2021. Global orthopedic braces supports market segmented into following types: By Product Type (Knee Braces and Supports, Ankle Braces and Supports, Foot Walkers and Orthoses, Hip, Back, And Spine Braces and Support, Shoulder Braces and Supports, Elbow Braces and Supports, Hand & Wrist Braces and Supports, Facial Braces and Supports), By Type (Soft & Elastic Braces and Supports, Hard Braces and Supports, and Hinged Braces and Supports), By Application (Preventive Care, Ligament Injury, Post-operative Rehabilitation, Osteoarthritis, Compression Therapy, Others), By Distribution Channel (Hospitals and Surgical Centres, Orthopedic Clinics, Pharmacies & Retailers, E-commerce platforms, and Others), and Geography (North America, Europe, Asia-Pacific, Latin America and Middle East Africa) Forecast to 2028. Key player's profiles in the orthopedic braces supports market report are Ossur, BREG, Inc, DeRoyal Industries, Inc, Bauerfeind, ALCARE Co., Ltd, Ottobock, Fillauer LLC, Frank Stubbs Company Inc, McDavid, Hely & Weber, Essity Medical Solutions (BSN Medical), Aspen Medical Products LLC. OTC Orthopedic braces and supports are becoming more widely employed in treating a variety of orthopedic diseases and disorders, including osteoarthritis, rheumatoid arthritis, osteoporotic fractures, and carpal tunnel syndrome. When compared to other therapies such as pain medicines, these items have higher clinical efficacy and faster patient recovery. Increasing amateur sports and activity levels, a growing geriatric population in key markets worldwide, and a rise in the number of elective orthopedic surgeries, such as knee replacement, are expected to fuel demand for high-end products like the Unloader OA bracing products and postoperative bracing solutions. Osteoarthritis is a significant orthopedic ailment that has an impact on product demand, and this might be the most prevalent type of arthritis, affecting people of all ages.

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Ligament Injury Segment Dominates the Orthopedic Braces Supports Market
Ligament injuries had the biggest market share in the orthopedic bracing and support applications market, by application. The expanding public engagement in sports and athletic activities (combined with the rising frequency of sports-related injuries), the rising number of accidents globally, and the growing availability of medical reimbursement for ligament injuries contribute to this segment's size.

North America Leads Orthopedic Braces Supports Market:
North America's orthopedic braces supports market share is projected to record commendable growth through 2028. This is due to the rising advocation of orthopedic braces supports methods by regulators in the region and rising research and development activities. The enlarging count of drug approvals in North America is predicted to set the tone of the regional market for orthopedic braces supports. The government is taking initiatives to help pharma companies and support pharma industries in North America. The market in Asia-Pacific is projected to be the fastest growing owing to the increasing expenditure on life science research in the region and the growing trend of pharmaceutical outsourcing to Asian countries like India and China.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global orthopedic braces supports market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In December 2021, Hygiene, and health company Essity has acquired the orthopedic specialist company AquaCast Liner, a provider of waterproof cast liners on the US market. Growing through acquisitions in Medical Solutions is a key strategic priority for Essity and with this acquisition the company is strengthening its leading market position in fracture management while extending its portfolio offering in the waterproof and water-resistant cast segment. The purchase price is not material relative to Essity's market capitalization and is not disclosed.

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Detailed Segmentation
Based on the Product, the market is segmented into the following:
• Knee Braces and Supports
• Ankle Braces and Supports
• Foot Walkers and Orthoses
• Hip, Back, And Spine Braces and Supports
• Shoulder Braces and Supports
• Elbow Braces and Supports
• Hand & Wrist Braces and Supports
• Facial Braces and Supports

Based on the Type, the market is segmented into the following:
• Soft & Elastic Braces and Supports
• Hard Braces and Supports
• Hinged Braces and Supports

Based on the Application, the market is segmented into the following:
• Preventive Care
• Ligament Injury
• Post-operative Rehabilitation
• Osteoarthritis
• Compression Therapy
• Others

Based on the Distribution Channel, the market is segmented into the following:
• Hospitals and Surgical Centres
• Orthopedic Clinics
• Pharmacies & Retailers
• E-commerce platforms
• Others

Based on the geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA
• Rest of MEA

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