Press release
Orthopedic Braces and Supports Market Poised for Significant Growth, Projected to Reach US$ 5.9 Billion by 2031 - Insights from Persistence Market Research
Overview of the MarketThe global orthopedic braces and supports market is set to reach US$ 3.7 billion in 2024 and is projected to expand at a CAGR of 6.9%, reaching US$ 5.9 billion by 2031. Musculoskeletal disorders, such as osteoarthritis, back pain, and fractures, continue to affect a growing population. By 2050, the number of individuals affected by musculoskeletal conditions is expected to reach 1 billion, up from 494 million in 2020.
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Key factors driving market growth include an aging population, increasing obesity rates, and the rising incidence of sports-related injuries. The soft and elastic braces and supports segment is anticipated to lead the market due to its wide applications in preventive care and post-operative rehabilitation. Geographically, East Asia is poised to dominate the industry, with a projected CAGR of 7.2%, attributed to technological advancements and a rapidly aging population in Japan.
Key Highlights from the Report
✦ Rising healthcare infrastructure in emerging economies provides significant growth opportunities.
✦ Technological innovations, such as 3D printing and smart braces, are enhancing product performance.
✦ Increased awareness of preventive healthcare is driving adoption among athletes and fitness enthusiasts.
✦ Growing demand for eco-friendly materials in healthcare products is influencing manufacturing trends.
✦ Orthopedic braces and supports play a crucial role in post-operative recovery and rehabilitation.
✦ The soft and elastic braces and supports category is expected to expand at a CAGR of 4.5% through 2031.
Market Segmentation
The orthopedic braces and supports market is segmented based on product type, application, and end-user. Product categories include soft and elastic braces, hinged braces, and rigid braces. Among these, soft braces are gaining traction due to their comfort, affordability, and suitability for preventive care.
By application, the preventive care segment is anticipated to grow at a CAGR of 4.3%. Athletes and individuals at risk of musculoskeletal conditions are increasingly opting for orthopedic braces as a non-invasive preventive solution. Additionally, post-operative rehabilitation braces continue to play a vital role in supporting joint recovery.
End-users of orthopedic braces and supports include hospitals, orthopedic clinics, home care settings, and rehabilitation centers. The home care segment is witnessing significant growth as patients seek convenient and cost-effective treatment solutions.
Regional Insights
Europe: A Growing Market Amidst Rising Disability Cases
Europe is witnessing steady growth in the orthopedic braces and supports market due to a high prevalence of musculoskeletal disorders. In Germany, orthopedic braces are widely used for managing osteoarthritis, post-surgical recovery, and injury rehabilitation. The increasing availability of orthopedic products through e-commerce platforms is further driving market penetration in the region.
East Asia: Technology-Driven Market Expansion
East Asia is at the forefront of innovation in orthopedic braces and supports. Japan, in particular, is focusing on lightweight, breathable, and durable materials to improve patient compliance. AI-driven custom-fit braces and robotic-assisted designs are enhancing the precision and efficiency of orthopedic devices. The region's aging population, accounting for nearly 30% of Japan's total population, is further driving demand for orthopedic solutions.
Market Drivers
The increasing prevalence of musculoskeletal disorders is a primary driver of market growth. The World Health Organization (WHO) estimates that these disorders are the leading cause of disability worldwide. Additionally, the growing adoption of preventive healthcare practices among athletes and fitness enthusiasts is bolstering market demand. Technological advancements, including smart braces with real-time monitoring sensors, are revolutionizing patient care and enhancing treatment effectiveness.
Market Restraints
Despite promising growth, the market faces challenges such as high costs of advanced orthopedic braces and limited reimbursement policies in some regions. Additionally, lack of awareness in developing economies poses a barrier to market expansion. Compliance issues due to discomfort and mobility restrictions also hinder patient adoption.
Market Opportunities
Emerging economies present lucrative growth opportunities due to improving healthcare infrastructure and rising disposable incomes. The growing trend of e-commerce distribution channels is making orthopedic braces and supports more accessible to consumers. Further, advancements in 3D printing technology allow for customized orthopedic solutions, catering to individual patient needs.
Reasons to Buy the Report
✔ Comprehensive Industry Analysis: Gain insights into market trends, growth drivers, and challenges.
✔ Technological Innovations: Stay informed about 3D printing, AI-based braces, and material advancements.
✔ Regional Insights: Understand market trends in Europe, East Asia, and other key regions.
✔ Investment Opportunities: Identify profitable areas for business expansion and strategic investments.
✔ Competitive Landscape: Analyze key players, new product launches, and recent industry developments.
Frequently Asked Questions (FAQs)
How big is the orthopedic braces and supports market?
Who are the key players in the global orthopedic braces and supports market?
What is the projected growth rate of the market?
What is the market forecast for 2031?
Which region is estimated to dominate the industry through the forecast period?
Company Insights
• DJO Global, Inc.
• Össur hf.
• Breg, Inc.
• Bauerfeind AG
• Ottobock SE & Co. KGaA
• 3M Company
• Thuasne Group
• Zimmer Biomet Holdings, Inc.
• Deroyal Industries, Inc.
Recent Industry Developments
Össur hf. launched a new line of smart braces featuring integrated sensor technology for real-time monitoring.
DJO Global, Inc. expanded its portfolio by acquiring innovative post-operative orthopedic support devices.
Conclusion
The orthopedic braces and supports market is witnessing steady growth, driven by factors such as aging populations, rising sports injuries, and technological advancements. As demand for non-invasive, cost-effective musculoskeletal solutions increases, smart braces, AI-driven custom fittings, and sustainable materials are shaping the industry's future. While challenges like high costs and limited reimbursement policies persist, opportunities in emerging markets, e-commerce distribution, and 3D printing innovations are expected to fuel expansion. Investors and stakeholders can capitalize on these trends to drive sustained market growth in the coming years.
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About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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