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Orthopedic Braces & Supports Market Size, Share, Trends 2024-2033
Orthopedic Braces & Supports Market Size
Orthopedic Braces And Support Devices And Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $5.17 billion In 2028 At A CAGR Of 4.7% :
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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Orthopedic Braces And Support Devices And Equipment Market Major Segments
The orthopedic braces and support devices and equipment market covered in this report 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
Key Driver - Growing Geriatric Population Drives Orthopedic Braces And Support Devices And Equipment Market
The rise in the geriatric population is driving the orthopedic braces and support devices and equipment market. Elderly people are more prone to injuries as their bones and connective tissues weaken with age. For example, In the US 70% of the population aged between 50-70 years suffers from osteoarthritis and is likely to increase further in the forecast period. This is one of the major contributing factors to the growth of this market.
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Prominent Trend - Innovative Bionic Technologies Transform Orthopedic Braces And Support Devices And Equipment Market
Due to the increase in the demand for orthopedic braces and support devices and equipment, various companies are adapting themselves to use innovative technologies such as bionic energy savers to solve problems related to injuries in the knee, arms, or any other movable part of the body. For example, spring-loaded technology uses LevitationTM bionic knee brace that enhances mobility and provides strength to legs by storing energy when a person sits or rests. These technologies are providing a better quality of life to people and positively impact the growth of the market.
Orthopedic Braces And Support Devices And Equipment Market Players
Major companies operating in the orthopedic braces and support devices and equipment market include 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., McDavid Knee Guard Inc., FLA Orthopedics Inc., Frank Stubbs Co. Inc., Zimmer Biomet Holdings Inc., Ortec B.V., Tynor Orthotics, DUK-IN, Prime Medical Inc., Adhenor, Aspen Medical Products, Rcai, Truelife, Shanghai Huici Medical Technology Co. Ltd., Dynamic Techno Medicals Pvt. Ltd., Hely & Weber Orthopedics, Mueller Sports Medicine Inc., Procare Software LLC, Scheck & Siress Prosthetics Inc., Townsend Design
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Largest And Fastest Growing Region In The Market
North America was the largest region in global orthopedic devices and equipment market in 2023. Western Europe was the second-largest region in global orthopedic devices and equipment market. The regions covered in the orthopedic braces and support devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Orthopedic Braces And Support Devices And Equipment Market Report Structure
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. Orthopedic Braces And Support Devices And Equipment Market Size And Growth
…..
27. Orthopedic Braces And Support Devices And Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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