Orthopedic Braces and Supports Market – by 2025, Global Industry is Expecting to Grow at CAGR of 5.8%

PUNE, India, 2020-Dec-22 — /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™.

Revenue Growth Opportunities and Growth Drivers?

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.

Growth Boosting Factors:

# Increasing 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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Leading Key Players in the Worldwide Industry:

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

DJO Finance LLC (US) is one of the major players operating in this Orthopedic Braces Market. The company offers a broad range of orthopedic braces and supports that are used in various areas, such as ligament injuries, preventive care, and post-operative rehabilitation. The company has distribution networks in Australia, Canada, South Africa, and Tunisia and distributes its braces and supports in more than 36 countries. DJO mainly focuses on the development of technologically innovative products to strengthen its position in the market. The company focuses on market expansions to further improve its position in the Orthopedic Supports Market. For instance, in December 2018, the company established its new global headquarters in Dallas, US, to develop and market DonJoy products.

Geographical Regions Mapped in Report:

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 Orthopedic Braces and Supports Market Growth.

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Market Segmentation in Detailed:

Soft and elastic braces are the most common bracing & support products in orthopedics. These are easy to use, flexible, provide unrestricted patient mobility, and are highly customizable, as compared to other surgical alternatives. 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.

Orthopedic bracing and support products are used for the clinical management of ligament injuries such as anterior cruciate ligament, posterior cruciate ligament, medial collateral ligament, lateral collateral ligament, and coronary ligament injuries. The large share of the ligament injury segment can be attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries.