Press release
Braces and Support Market is expected to reach US$ 5.8 bn by the end of 2032, expanding at a CAGR of 5.6% over the next ten years
The braces and support market is a segment of the medical device industry that deals with the production and sale of orthopedic braces and supports. Orthopedic braces and supports are medical devices used to provide external support and protection to joints, muscles, and bones. These devices are used to prevent injuries, provide pain relief, and aid in the healing process of injuries and conditions.The Global Braces and Support Market recorded a valuation of US$ 3.2 billion in 2021 and is expected to reach US$ 5.8 billion by the end of 2032, expanding at a CAGR of 5.6% over the next ten years. According to this new study by Persistence Market Research, the knee braces and supports segment is leading the market with a share of 28.7% in the year 2021.
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One of the key drivers of the braces and support market is the increasing prevalence of orthopedic conditions and injuries. Orthopedic conditions, such as arthritis and osteoporosis, and injuries, such as fractures and sprains, are common and can have a significant impact on quality of life. Braces and supports can provide relief from pain and discomfort, and aid in the healing process of these conditions and injuries.
Companies
DJO Global Inc.
3M Healthcare
Breg Inc.
OSSUR, Otto Bock Healthcare
Zimmer Biomet Holdings, Inc.,
Bauerfeind AG
Alcare Company Ltd
Becker Orthopedic
Frank Stubbs Company Inc.
Bird and Cronin Inc.
DeRoyal Industries Inc.
Medi GmbH & Co. KG
Trulife Inc.
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Another factor driving the braces and support market is the increasing adoption of sports and physical activities. Sports and physical activities have become increasingly popular in recent years, and they often involve a higher risk of injuries. Braces and supports can help prevent injuries and provide support and protection to injured areas during the recovery process.
The braces and support market includes a variety of products, including knee braces, ankle braces, wrist supports, and back braces. These devices are available in different materials, including neoprene, nylon, and elastic, and can be customized to fit the specific needs of individual patients.
Competitive Analysis
With several competitors in the braces and support system production space, companies are adopting various strategies to sustain the competition. Mergers and acquisitions, new product launches, partnerships, and collaborations are resorted to by market players to increase their product portfolios and expand the business.
On May 24, 2022, DJO LLC (U.S.) announced that it acquired outcome-based Technologies, LLC. This move helped DJO in brace innovation, especially in the fast-growing hip brace category. This acquisition helped the company provide an innovative modular hip brace with integrated cold therapy for stronger pain management.
To make daily tasks more convenient, Bauerfeind AG equipped the AirLoc product on January 2, 2022, with a pump and valve for lateral air cushions situated outside of the AirLoc. The shells include silky microfiber top covers over anatomically contoured and cushioned ribbed foam on the inside. Additionally, this is offered in universal sizes, which, thanks to their elastic shell connection, adjust to the width of the wearer to give them optimal comfort.
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Market Segments Covered in Braces and Support Market Analysis
By Product:
Knee Braces and Supports
Ankle Braces and Supports
Foot Walkers and Orthoses
Hip, Back, & Spine Braces and Supports
Shoulder Braces and Supports
Neck & Cervical Spine Braces and Supports
Hand & Wrist Braces and Supports
Others
Upper Extremity Braces and Supports
Lower Spine Braces and Supports
Upper Spine Orthoses
Elbow Braces and Supports
Facial Braces and Supports
Post Operational Knee Braces
TLSOs
LSOs
Walker Boots
Pneumatic Walker Boots
Non-pneumatic Walker Boots
By Type:
Soft & Elastic Braces and Supports
Hinged Braces and Supports
Hard Braces and Supports
By Application:
Preventive Care
Ligament Injury
Anterior Cruciate Ligament Injury
Lateral Collateral Ligament Injury
Post-Operative Rehabilitation
Osteoarthritis
Compression Therapy
By End User:
Orthopaedic Clinics
Hospitals
Ambulatory Surgical Centres
Home Care Settings
Over-the-Counter (OTC) Braces and Supports
By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)
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About Us
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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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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