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[2024-2033] Orthopedic Support Systems Market: New Technologies and Growth Prospects
Orthopedic Support Systems Market
According to The Business Research Company's, The orthopedic support systems market size has grown strongly in recent years. It will grow from $3.31 billion in 2023 to $3.60 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to advances in material science, surgical techniques, sports injuries, the aging population, and patient awareness and education.
The orthopedic support systems market size is expected to see strong growth in the next few years. It will grow to $5.10 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to a rise in chronic conditions, sports participation, telehealth and remote monitoring, and emphasis on sustainability. Major trends in the forecast period include wearable technology integration, minimally invasive techniques, telehealth and remote monitoring, orthopedic rehabilitation robotics, and value-based care models.
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Market Drivers and Trends:
The increasing prevalence of musculoskeletal disorders is expected to propel the growth of the orthopedic support systems market going forward. Musculoskeletal disorders are conditions that affect the muscles, bones, nerves, and other soft tissues of the body, leading to pain and discomfort. Musculoskeletal disorders are increasing due to aging populations, sedentary lifestyles, obesity, occupational hazards, and poor workplace ergonomics. Orthopedic support systems are essential in the comprehensive management of musculoskeletal disorders that help manage musculoskeletal conditions, promote healing and rehabilitation, prevent injuries, and enhance functional outcomes. For instance, in November 2023, according to the Lancet Rheumatology, a UK-based clinical rheumatology journal, the number of musculoskeletal disorder cases is anticipated to increase by 115% between 2020 and 2050, with estimates ranging from 107 to 124, reaching approximately 1,060 million prevalent cases by 2050. Therefore, the increasing prevalence of musculoskeletal disorders is driving the growth of the orthopedic support systems market.
Major companies operating in the orthopedic support systems market are developing innovative products, such as VRTX spinal support systems, to gain a competitive edge in the market. The VRTX spinal support system is a medical device designed to help support and stabilize the spine to treat conditions such as spinal fractures or instability by supporting the affected area, assisting the patients to move more comfortably, and reducing pain. For instance, in October 2023, Aspen Medical Products, a US-based medical equipment manufacturer, launched a VRTX spinal support system. This innovative technology offers a prefabricated design with adjustable sizing for optimal motion restriction for multi-level spinal injuries. The system includes a collar, Cervicothoracic Orthosis, Lumbosacral Orthosis, Thoracolumbosacral Orthosis, and Cervico-Thoracolumbosacral Orthosis, and its modular design ensures easy application and readiness for patients requiring effective care. The VRTX System is an off-the-shelf solution that aims to reduce hospital stays, minimize complications, and enhance operational efficiency by improving time and inventory management in healthcare facilities.
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Major Key Players of the Market:
Johnson & Johnson, Medtronic plc, Medline Industries, Zimmer Biomet Holdings, Smith & Nephew plc, Hologic Inc., Stryker Corporation, Ottobock Healthcare, DJO Global Inc., NuVasive Inc., Hanger Clinic, Ossur Corporate, Wright Medical Group N.V., Deroyal Industries, Performance Health's, LimaCorporate, Exactech Inc., McDavid Knee Guard Inc., Trulife's, Boston Orthotics & Prosthetics, Bauerfeind AG, Mueller Sports Medicine Inc., Breg Inc., Becker Orthopedic, Thuasne, Sigvaris
Orthopedic Support Systems Market 2024 Key Insights:
• The orthopedic support systems market size is expected to see strong growth in the next few years. It will grow to $5.10 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%.
• Orthopedic Support Systems Market Growth Fueled By Rising Musculoskeletal Disorder Prevalence
• Aspen Medical Products Introduces VRTX Spinal Support System For Enhanced Emergency Spinal Treatment
• North America was the largest region in the orthopedic support systems market in 2023
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