Orthopedic Braces and Supports Market Growing at a CAGR of 5.7% | Recent Developments, Segmentation & Major Key Players

PUNE, India, 2020-Jul-01 — /EPR Network/ —

[279 Pages Report] The Orthopedic Braces and Supports Market is projected to reach USD 5.5 billion by 2024, at a CAGR of 5.7% during the forecast period.

Growth in the orthopedic braces and supports market is primarily driven by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability and market availability, rising number of sports and accident-related injuries, and growing public awareness related to preventive care.

Recent Developments:

• In December 2018, DJO Finance LLC established its new global headquarters in Dallas, US, to develop and market DonJoy Products, which includes braces and supports.
• In November 2018, DJO Finance LLC launched EMPOWR Porous Knee System and EMPOWR Complex Primary Knee System. This helped the company to improve its position in the orthopedic braces and supports market.
• In March 2018, DJO Finance LLC launched X4 Smart Brace with Motion Intelligence.
• In March 2017, DJO Finance LLC launched TriFit Knee Brace (a DonJoy Product).

Browse 126 market data Tables and 38 Figures spread through 279 Pages and in-depth TOC – Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=24806829

Market Segmentation in Detailed:

The knee braces and supports segment accounted for the largest share of the orthopedic braces and supports market, by product, in 2018. The large share of this segment can be attributed to the several benefits offered by these products, such as medial and lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.

The soft & elastic braces and supports segment is expected to grow at the highest CAGR during the forecast period. Growth in this market can primarily be attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative & preventive care, and the supportive reimbursement scenario for target products across mature markets.

Major Market Growth Drivers:

• Increase Prevalence of Orthopedic Diseases and Disorders
• Continuous Product Commercialization
• Greater Product Affordability and Market Availability
• Rising Number of Sports and Accident-Related Injuries
• Growing Public Awareness Related to Preventive Care

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Geographical Regions Mapped in Report:

The orthopedic braces and supports market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest share of the orthopedic braces and supports market in 2018. Factors such as continuous development and commercialization of novel orthopedic braces & support products and favorable reimbursements & insurance coverage major orthopedic bracing procedures in the region are driving the market for orthopedic braces and supports in North America.

Maior Key Players Mapped in Research Report:

The major players operating in the orthopedic braces and supports market are Bauerfeind AG (Germany), Össur Hf (Iceland), DJO Finance LLC (US), Breg, Inc. (US), and DeRoyal Industries, Inc. (US). Other prominent players operating in this market include Bird & Cronin, Inc. (US), medi GmbH & Co. KG (Germany), Ottobock Holding GmbH & Co. KG (Germany)