Global Orthopedic Braces and Supports Market - Segmented by Product, End User, and Geography - Growth, Trends, and Forecast (2022 - 2030)
The global orthopedic braces and supports market is expected to register a CAGR of 6.0% during the forecast period (2018 - 2023). There is a growing demand for orthopedic braces and support systems to improve the structural and functional features of the skeletal and neuromuscular system.
Rise in Musculoskeletal Disorders
Osteoporosis is one of the major cause of musculoskeletal disorders. According to International Osteoporosis Foundation (IOF), globally it is estimated that more than 8.9 million fractures occur every year due to osteoporosis, resulting in a fracture for every 3 seconds due to osteoporosis. Geriatric population is playing a vital role in accelerating the demand for the orthopedic braces and support products in the market. Because of aging several changes occur in the skeletal and neuromuscular systems, which results in the weak ligament, arthritis, and ligament tear. At present, the geriatric population is growing at rapid pace. So, the rising musculoskeletal disorders driving the market along with the other factors such as increasing number of road accidents and bone fracture cases.
Negligence toward Minor Injuries
Most of the times, people who are suffering from musculoskeletal pains and swelling are self-prescribing themselves. This mostly involves the usage of pain killers and pain relief ointments which are easily available in the market, so this negligence for the minor injuries are hindering the growth of orthopedic braces and supports the market. And other factors such as lack of awareness regarding the new orthopedic braces and support leads is also restraining the market growth.
North America to dominate the Market
North America has the largest regional market share with revenue estimated at over 35% due to the continuous developments and commercialization of these orthopedic braces and support products and availability of several medical reimbursements & insurance policies for major orthopedic bracing procedures are helping the market to grow in this region. Asia-Pacific is estimated to register the fastest CAGR through the forecast period (2018-2023).
Key Developments in the Market
• October 2017: 3M has acquired Scott Safety
Major Players: BSN MEDICAL GMBH, 3M HEALTHCARE, DJO LLC, OSSUR, OTTO BOCK HEALTHCARE, ZIMMER HOLDINGS INC., among others..
Reasons to Purchase this Report
• Current and future orthopedic braces and support market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Identifying the segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Rise in Musculoskeletal Disorders
Osteoporosis is one of the major cause of musculoskeletal disorders. According to International Osteoporosis Foundation (IOF), globally it is estimated that more than 8.9 million fractures occur every year due to osteoporosis, resulting in a fracture for every 3 seconds due to osteoporosis. Geriatric population is playing a vital role in accelerating the demand for the orthopedic braces and support products in the market. Because of aging several changes occur in the skeletal and neuromuscular systems, which results in the weak ligament, arthritis, and ligament tear. At present, the geriatric population is growing at rapid pace. So, the rising musculoskeletal disorders driving the market along with the other factors such as increasing number of road accidents and bone fracture cases.
Negligence toward Minor Injuries
Most of the times, people who are suffering from musculoskeletal pains and swelling are self-prescribing themselves. This mostly involves the usage of pain killers and pain relief ointments which are easily available in the market, so this negligence for the minor injuries are hindering the growth of orthopedic braces and supports the market. And other factors such as lack of awareness regarding the new orthopedic braces and support leads is also restraining the market growth.
North America to dominate the Market
North America has the largest regional market share with revenue estimated at over 35% due to the continuous developments and commercialization of these orthopedic braces and support products and availability of several medical reimbursements & insurance policies for major orthopedic bracing procedures are helping the market to grow in this region. Asia-Pacific is estimated to register the fastest CAGR through the forecast period (2018-2023).
Key Developments in the Market
• October 2017: 3M has acquired Scott Safety
Major Players: BSN MEDICAL GMBH, 3M HEALTHCARE, DJO LLC, OSSUR, OTTO BOCK HEALTHCARE, ZIMMER HOLDINGS INC., among others..
Reasons to Purchase this Report
• Current and future orthopedic braces and support market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Identifying the segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Frequently Asked Questions
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