The Global Orthopedic Braces and Support System Market Is Expected To Expand At A CAGR Of 6% Over The Forecast Period Of 2021 To 2031

Posted on 2022-11-03 by Fact.MR in Healthcare // 0 Comments

As per Fact.MR, a market research and competitive intelligence provider, the global orthopedic braces and support system market is anticipated to top US$ 5.5 Bn by 2031, progressing at a CAGR of 6% over the next ten years.

Increasing incidence of fractures, ruptured or bulging disks, and back pain due to heavy or improper lifting is expected to drive sales of orthopedic braces & support systems positively. In addition, demand for orthopedic braces remains high among obese persons due to growing need for weight management. Obese people face difficulties while walking and moving around, attributed to weight issues.

Attributed to their water-resistant and lightweight features, demand for orthopedic braces and support systems will continue to rev up significantly over the next ten years.

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Key Takeaways from Market Study

Global orthopedic braces and support system market to top US$ 5.5 Bn by 2031.
Knee braces and supports projected to reach around US$ 2.7 Bn by 2031.
Ankle braces and supports projected to record above 4% CAGR over next 10 years.
Market in North America holds share of more than 40%.
Market in France expected to reach valuation of US$ 700 Mn by 2031.
Market in Australia to record 3% CAGR over forecast period of 2021- 2031.

“Application of orthopedic braces enables controlling and guiding a joint or injured body part to limit or immobilize extremities during a foot injury, and demand for a faster restoration process of fractures after removing the cast continues to contribute towards high demand for orthopedic braces & support systems,” says a Fact.MR analyst.

Which Regional Market is the Most Profitable for Orthopedic Braces and Support System Manufacturers?

North America is likely to be a major revenue-generating region, with revenue growing 1.3X by 2031. Increased favorable reimbursement and insurance policies as well as government regulations for product commercialization are driving market growth.

Rise in musculoskeletal disorders and growing cases of sports-related injuries are factors fueling demand for orthopedic braces and supports in the region. Furthermore, presence of key companies with a large market share is another factor fueling the sales of knee braces for osteoarthritis and ligament injuries in the region.

Increasing sales of knee braces and supports in Spain, growing demand for OTC braces and supports in Germany, and rising demand for orthopedic braces and support systems in the U.K are all making a significant contribution to global market growth prospects for orthopedic braces and support systems.

Country-wise Analysis

What is the Demand Outlook for Orthopedic Braces and Support Systems in the U.S.?

The U.S. orthopedic braces and support system market is the largest in North America and is expected to increase 1.7X in valuation by 2031.

According to the United States Department of Health and Human Services, an estimated 8.6 million sports injuries occur each year in the country. Rising geriatric population is a contributing element boosting the demand for hinged braces and supports, hard braces and supports, and wrist braces and supports in the country.

Key manufacturers of orthopedic braces & supports, as well as startups, are attracting global firms to invest in the U.S. market. Owing to these factors, the United States is said to hold a considerable market share.

Category-wise Insights

Why are Knee Braces and Supports in Such High Demand?

Increasing instances of injuries in legs and knees has led to a surge in the sales of knee braces and supports. Sales of knee braces and supports are expected to increase by 2.5X over the forecast period.

Knee braces and supports are used as a post-operative treatment for injuries such as a sprained medial knee ligaments, anterior cruciate ligament (ACL) rupture, and posterior cruciate ligament (PCL) rupture. Knee braces provide pressure relief for arthritis-affected knee joints. Individuals with arthritis and other joint-related problems, athletes, and those who have undergone a knee surgery are among the most common users of knee braces and supports.

Knee braces and supports are becoming more popular due to the several benefits that they provide, including reduced knee rotation, lateral and medial support, protection from post-surgical injury risk, and injury prevention during movement.

Growing geriatric and obese population, attractive reimbursements for knee braces, and rise in the frequency of sporting injuries are factors driving demand for knee braces and supports.

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Market Competition

Key manufacturers of orthopedic braces and support systems are investing in innovation and diversification to accelerate sales growth, extend customer reach, and improve customer retention and loyalty. Partnerships and collaborations are two of the most popular ways for companies to increase their market share.

The market is moderately competitive, with high presence of top manufacturers of ankle braces and supports and top distributors of foot walkers. Major suppliers of orthopedic braces and support systems are concentrating on new product releases as well as mergers and acquisitions, which would help them expand across many regions.

With increasing technical improvements in devices, top manufacturers of wrist braces and supports are expected to enter the market in the near future and occupy a significant position in this space.

In September 2020, DJO, a global provider, unveiled the new DonJoy X-ROM Post-Op Knee Brace. The X-ROM brace helps patients recover from ACL reconstruction and other knee surgeries with greater confidence, comfort, and stability thanks to DonJoy’s most sophisticated range of motion (ROM) protection and improved user-friendly design for faster, easier administration and adjustment.
In July 2020, Thuasne announced the launch of its ActionReliever, a prescription-only arthritis knee brace. This is a low-cost option that can help individuals with unicompartmental knee arthritis avoid or postpone surgery.

Key Segments in Orthopedic Braces and Support System Industry Research

Product

Knee Braces and Supports
Ankle Braces and Supports
Foot Walkers and Orthoses
Hip, Back, & Spine Braces and Supports
Shoulder Braces and Supports
Neck & Cervical Spine Braces and Supports
Hand & Wrist Braces and Supports
Others
Upper Extremity Braces and Supports
Lower Spine Braces and Supports
Upper Spine Orthoses
Elbow Braces and Supports
Facial Braces and Supports
Post-Operational Knee Braces
TLSOs
LSOs
Walker Boots
Pneumatic Walker Boots
Non-pneumatic Walker Boots

Type

Soft & Elastic Braces and Supports
Hinged Braces and Supports
Hard Braces and Supports

Application

Application of Orthopedic Braces and Support Systems in Preventive Care
Application of Orthopedic Braces and Support Systems in Ligament Injury
Application of Orthopedic Braces and Support Systems in Anterior Cruciate Ligament Injury
Application of Orthopedic Braces and Support Systems in Lateral Collateral Ligament Injury
Application of Orthopedic Braces and Support Systems in Post-operative Rehabilitation
Application of Orthopedic Braces and Support Systems in Osteoarthritis
Application of Orthopedic Braces and Support Systems in Compression Therapy

End User

Use of Orthopedic Braces and Supports in Orthopedic Clinics
Use of Orthopedic Braces and Supports in Hospitals
Use of Orthopedic Braces and Systems at ASCs
Use of Orthopedic Braces and Systems in Home Care Settings
Over the Counter (OTC) Orthopedic Braces and Supports

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