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2024 Orthopedic Braces And Support Devices And Equipment Market Growth, Segmentation, Industry Analysis, Top Key Players | DJO Global, Bauerfeind AG, Otto Bock Healthcare GmbH, Breg Inc., Ossur Hf, DeRoyal Industries Inc., BSN medical GmbH, Medi GmbH & Co
Orthopedic Braces And Support Devices And Equipment Global Market
The Business Research Company's Orthopedic Braces And Support Devices And Equipment Global Market Report 2024 identifies The rise in the geriatric population as the major driver for the Orthopedic Braces And Support Devices And Equipment market's growth in the forecast period. Elderly people are more prone to injuries as their bones and connective tissues weaken with age.
The orthopedic braces and support devices and equipment market size has grown strongly in recent years. It will grow from $4.08 billion in 2023 to $4.31 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to aging population, orthopedic injuries, rehabilitation and physical therapy, lifestyle and fitness trends.
The orthopedic braces and support devices and equipment market size is expected to see steady growth in the next few years. It will grow to $5.17 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to emerging markets growth, regulatory support and reimbursement, value-based healthcare, personalized medicine. Major trends in the forecast period include smart orthopedic braces, 3d printing, lightweight and breathable materials, tele-rehabilitation and remote monitoring.
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Major competitors in the Orthopedic Braces And Support Devices And Equipment market are DJO Global, Bauerfeind AG, Otto Bock Healthcare GmbH, Breg Inc., Ossur Hf, DeRoyal Industries Inc., BSN medical GmbH, Medi GmbH & Co. KG, THUASNE Group, 3M Company, Lohmann & Rauscher International, Alcare Company Ltd.
A key trend in the Orthopedic Braces And Support Devices And Equipment market includes High adoption of pain medications. As more amount of people relies on pain killers for pains related to orthopedic disorders instead of adopting the use of a proper support device/braces. For example, Americans consume 80% of the world's supply of painkillers including painkillers for orthopedic treatments, thereby, hindering the orthopedic braces and support devices and equipment market.
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The Orthopedic Braces And Support Devices And Equipment market is segmented -
1) By Type: Lower extremity braces, Upper extremity braces, Back and hip braces, Other braces
2) By Product: Soft & Elastic Braces and Supports, Hinged Braces and Supports, Hard & Rigid Braces and Supports
3) By End User: Hospitals, Home Healthcare, Clinics, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Orthopedic Braces And Support Devices And Equipment market.
The Business Research Company's "Global Orthopedic Braces And Support Devices And Equipment Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Orthopedic Braces And Support Devices And Equipment Market Include:
1. Executive Summary
2. Orthopedic Braces And Support Devices And Equipment Market Characteristics
3. Orthopedic Braces And Support Devices And Equipment Market Trends And Strategies
4. Orthopedic Braces And Support Devices And Equipment Market - Macro Economic Scenario
5. Global Orthopedic Braces And Support Devices And Equipment Market Size and Growth
……
31. Global Orthopedic Braces And Support Devices And Equipment Market Competitive Benchmarking
32. Global Orthopedic Braces And Support Devices And Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Orthopedic Braces And Support Devices And Equipment Market
34. Orthopedic Braces And Support Devices And Equipment Market Future Outlook and Potential Analysis
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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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