Orthopedic Braces and Supports Market Worth $4.1 billion | Impact of Covid 19 Detailed Analysis

orthopedic braces and supports market

PUNE, India, 2020-Sep-28 — /EPR Network/ —

According to the new market research report “Orthopedic Braces and Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Neck, Elbow, Hand, Wrist), Category (Soft, Hard, Hinged), Application (Ligament (ACL, LCL), Preventive, OA), Distribution (Hospital) & Region – Global Forecast to 2025″ published by MarketsandMarkets™.

The Global Orthopedic Braces and Supports Market size is projected to reach USD 4.1 billion by 2025 from USD 3.1 billion in 2020, at a CAGR of 5.8% during the forecast period.

COVID-19 Impact on the global orthopedic braces market;

The orthopedic supports market is impacted due to the pandemic, resulting in short term negative growth due to factors such as a sharp decline in elective surgeries and ban on organized sports. Moreover, O&P clinics were temporarily closed, and hospital access restricted to non-essential care. Thus, limited access to clinics, social distancing, the lockdown of the population, which results in less trauma and workplace injuries, and slow-down in patient flow and referrals has also impacted the market growth.

Browse 280 market data Tables and 30 Figures spread through 374 Pages and in-depth TOC | Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=24806829

Orthopedic Braces Market Dynamics;

Driver: Increasing prevalence of orthopedic diseases and disorders;

Orthopedic braces and supports are increasingly being used during clinical management of various orthopedic diseases and disorders such as osteoarthritis, rheumatoid arthritis, osteoporotic fractures, and carpal tunnel syndrome. These products offer higher clinical efficacy and fast patient recovery compared to alternative therapies such as pain medications.

• As of 2018, around 75 million individuals (aged 50 and over) had osteoporosis across the US, Europe, and Japan (Source: International Osteoporosis Foundation).
• Around 400,000 people in the UK have rheumatoid arthritis, data as of 2018 (Source: Arthritis Research UK).

The incidence of orthopedic diseases and disorders is expected to increase further in the coming years with the increasing prevalence of obesity and related lifestyle disorders, as obese individuals are at a higher risk of orthopedic & musculoskeletal injuries as well as diabetes.

The knee braces and supports segment is expected to grow at the highest CAGR during the forecast period

Knee braces are utilized as a follow-up treatment post knee surgery associated with injuries such as anterior cruciate ligament (ACL) rupture, sprained medial knee ligament, patella tendonitis, torn knee cartilage, posterior cruciate ligament (PCL) rupture, knee arthritis, and runner’s knee. The growth of the knee braces and supports segment is 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 favorable reimbursement scenario for knee braces in developed countries, growing geriatric & obese population (which are at a higher risk of developing osteoarthritis and other knee-related conditions), and the increasing number of sports injuries are other factors driving the growth for knee braces and supports.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=24806829

Asia Pacific is estimated to be the fastest-growing market for orthopedic braces and supports during the forecast period. The Asia Pacific market is driven principally by the rising geriatric and obese population (coupled with the significant prevalence of orthopedic & diabetes-related diseases in this population segment), increasing GDP and healthcare expenditure in APAC countries, and growing public awareness. Furthermore, increasingly localized product manufacturing, favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries are aiding the market growth.

DJO Finance LLC (US), Össur Hf (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), and DeRoyal Industries, Inc. (US)  are the key players in the global orthopedic braces and supports market.