Orthopedic Braces & Supports Market 2021 Growth, Survey, Analysis, Share, Company Profiles and Forecast by 2031 | DJO Finance LLC, Ossur HF, Breg, Inc., Bauerfeind AG

The global orthopedic braces & supports market was valued at USD 3.7 billion in 2021 and it is anticipated to grow up to USD 7.3 billion by 2031, at a CAGR of 7.0% during the forecast period.

New York, According to a new market research report published by Global Insight Services Orthopedic Braces & Supports Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Orthopedic braces are primarily medical devices that are designed to address musculoskeletal issues, including properly aligning, correcting the position, and protecting the muscles, joints, and bones while healing from injury or trauma. They are increasingly preferred over other invasive treatments as they are less painful and assist in quick recovery while limiting the incidences of post-surgical complications.

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Market Trends and Drivers

The incidence of orthopedic diseases & disorders is expected to increase further in the coming years with the rising prevalence of obesity and related lifestyle disorders, as obese individuals are at a greater risk of orthopedic & musculoskeletal injuries as well as diabetes. Orthopedic braces and supports offer several benefits, such as better affordability, higher efficacy, greater patient comfort, and ease of use compared to conventional products. Due to these benefits, key players are increasingly developing specialized products for the treatment of various orthopedic diseases as well as to address the unmet market needs. In developed as well as emerging markets, patient preference for orthopedic braces is rising due to their financial affordability and easy market accessibility. Sports and related physical activities often result in musculoskeletal injuries such as sprains, ligament injuries, and fractures. Therefore, the increasing public participation in such activities drives the prevalence of these conditions. Orthopedic braces and supports are increasingly being considered an effective clinical alternative for orthopedic surgeries for conditions such as rheumatoid arthritis, osteoporosis, gout, and fractures. Various public-private sports organizations and medical professionals are undertaking initiatives to spread public awareness related to the clinical management of orthopedic injuries, such as conferences, workshops, and symposiums.

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Market Restraints and Challenges

Limited patient qualification for bracing-mediated orthopedic treatment and limited clinical evidence to support the therapeutic efficacy of orthopedic braces may impede the market growth. Bracing and support products are utilized to effectively manage orthopedic disorders and diseases, with physicians and orthopedic surgeons considering these products clinically necessary for specific conditions. However, in several cases (depending on the severity of the disease and its side effects as well as the patient's physiology & age), patients do not qualify for bracing products. Innovative orthopedic braces are increasingly being adopted by major end-user facilities (such as hospitals, surgical centers, and orthopedic clinics) across developed markets such as the US, Germany, the UK, and Japan. However, end-user facilities across emerging and less-developed markets are reluctant to adopt novel products due to a lack of awareness and affordability. These users also prefer to utilize traditional/well-established products with proven clinical evidence to support their therapeutic/diagnostic role.

Global Orthopedic Braces & Supports Market Segmental Overview

The report analyses the global orthopedic braces & supports market based on product, application, end use, and region.

Global Orthopedic Braces & Supports Market by Product

Based on product, it is segmented into upper extremity braces and supports and lower extremity braces and supports. Upper extremity braces and supports further sub-segmented into shoulder braces and supports, elbow braces and supports, hand and wrist braces and supports. While, lower extremity braces and supports sub-segmented into Ankle braces and supports, Knee braces and supports, Foot braces and supports, Back, hip and spine braces and supports. Among these, lower extremity brace and support segment accounted for significant market share in 2021. The rising prevalence of knee, ankle, and upper extremity-related disorders and injuries has led to a huge demand for these products. Knee braces and supports held the largest revenue share in 2021, owing to a rising number of the target population affected by knee joint-related ailments. Knee braces help in pressure relief from knee joints affected by arthritis. These products are majorly used by individuals suffering from arthritis and other joint-related disorders, sports players, and patients who have undergone knee surgery.

Major Players in the Global Orthopedic Braces & Supports Market

The key players in the market are DJO Finance LLC (US), Ossur HF (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Essity (Sweden), 3M (USA), Ottobock Holding GmbH (Germany), Thuasne Group (France), Zimmer Biomet Holdings, Inc. (US) and ALCARE (Japan), among others.

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Reasons to buy Orthopedic Braces & Supports Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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