According to Acumen Research and Consulting, the global orthopedic braces and supports market is expected to grow at a CAGR around 6.2 % throughout the forecast period and reach around US$ 7.7 billion by 2026.
Knee, back, ankle, neck, hip, Elbow, wrist and finger are the tools used to reinforce and support muscles and joints. These are used to control the motion of limbs and joints and to correct structural defects. The braces are mechanically robust and help pain-relieving owing to sprain, strain as well as other musculoskeletal disorders. Braces apply to arthritic therapy, prevention and therapy for injuries and postoperative therapy.
The report provides analysis of global Orthopedic Braces And Supports market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
The increased incidence of arthritis is one of the main drivers for development. It is the most prevalent type of arthritis in all ages. In 2040, nearly 78 million U.S. adults over 18 years are expected to be diagnosed with arthritis, the Centers for Control and Prevention of Disease (CDC). Thus, individuals with orthopedic brace industries are the main consumer basis. Another type of rheumatoid arthritis affects the joints, causing muscle suffering.
The geriatric population is regarded as one of the most demanding supporters of the orthopedic bracelet. The population is extremely sensitive to illnesses of the musculoskeleton. Naturally, with increasing age, bones and tissues linking them, like ligaments and cartilaginous. The risk of muscle injury is high, primarily in elderly people's knees and shoulders. This tightens the joints, increasing the need for braces and mobility supports. The growing geriatric population is therefore anticipated to drive the development of the economy.
With the increasing amount of sports operations, sports injuries are on the rise. Athletes focus on operations related to fitness, such as running, biking and other activities. They are probable to suffer wounds, which can lead to ligament wounds as a result of these operations. The risk of ankle ligament tears for indoor athletes is high. Substantial demand for ankle braces is therefore anticipated. Furthermore, the orthopedic surgeons recommend an acute spray of the knee.
Athletes also use orthopedic braces to prevent further injury during sport. This enables them to limit undesired motion during games, making it easy to play.
Inadequate orthopedic brace reimbursement, elevated patient preference for alternative therapy, lack of customization options for orthopedic braces, can hinder market growth. In contrast, government awareness and expenditure growth in health care are anticipated to offer countless possibilities for future market growth.
Due to increased accidents and associated illnesses such as arthritis, braces retained the biggest market share in 2018 on the grounds of the product type. The sort of brace is further divided into knees, ankles, back and braces and supports and walking shoes. The increasing incidence of accidents in the knee and ankle caused considerable demand for these products.
The main income generator for 2018 was Knee braces and supports due to the growing amount of target people suffering from knee joint injuries. Pressure relief from arthritis-induced knee braces assist. These products are used mainly by arthritis sufferers and other illnesses related to the articulation, sport workers and knee-operated patients.
Due to the increasing incidence of pain-related illnesses and a demand to treat chronic back and joint pain in 2018, pain management products had a important market share. This section is split into deep vine thrombosis (DVT) and cold treatment goods.
Walking shoes for fractures, sprains, ligament wounds or tears of the tendon in the foot or ankle region are suggested by physicians. Its restricted use however resulted in this segment's low turnover. The pneumatic and non-pneumatic shoes of walking shoes are further separated.
End Use Outlook
Using the orthopedic braces and support systems industry, the braces and support systems are categorized into orthopedic clinics, hospitals, OTC and other equipment. Due to the low preferences of patients visiting hospitals for acute musculoskeletal issues, orthopedic clinics retained the biggest market share in 2018.
Due to their simple accessibility in retail pharmacies, the OTC orthopedic braces should show profitable development over the predicted era. Acute muscle pain patients prefer the use of OTC products. These products decrease recovery time and make it easier to deal with damaged muscle and joint components quickly.
The amount of hospitals admitted for traumatic and spinal wounds, bone fractures and injuries sustained from road accidents increased in Hospitals to a substantial market share. Because of its enormous implementation in spinal fusion and delayed union and nounic fractures, hospitals use orthopedic braces and support products.
The trauma centres, sports academies, pharmacies in gym / health clubs and emergency centres, also demand these products. Sport schools, gymnasiums and health clubs often suffer sports injuries, with the use of multiple products for orthopedic bracing.
Due to increasing awareness of bracing instruments that promote mobility and avoid further injuries, North America resulted the market in 2018. In addition, owing to the elevated amount of obese and geriatric individuals, the United States population is at high danger of osteoporosis. In the near future there should therefore be an increasing incidence of orthopedic circumstances and the strong adoption of sophisticated products.
In view of the well-developed healthcare infrastructure, the availability of sophisticated products and professional experts, Europe is expected to achieve profitable development in the forecast period. Another significant factor expected to promote regional market growth is the increasing demand for sophisticated therapies and products in Europe.
In the forecast period, the profit CAGR of Asia Pacific is expected to be showcased, because China has an enormous base of geriatrics which drives the demand of the item. In addition, because of the existence of sophisticated plants and techniques, Japan is a important market contributor.
Global Orthopedic Braces And Supports Market, By Product
Global Orthopedic Braces And Supports Market, By End Use
Global Orthopedic Braces And Supports Market, By Geography
The market research study on “Orthopedic Braces And Supports Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Orthopedic Braces And Supports market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
Otto Knee Guard, Inc. ; Alcare Company Ltd. ; McDavid Knee Guard, Inc. ; Bauerfeind AG ; Össur Corporate ; the Frank Stubbs Company, Inc. ; Hely & Weber; Aspen Medical Products; FLA Orthopedics, Inc. ; are a number of major businesses working in the industry.
The main businesses focus on strategic projects such as fresh products, fusions and acquisitions as well as regional expansions. Breg launched a fresh brace, Ultra Aurora, in February 2018, for example. The Ultra Zoom and Ultra High-5 are two combinations. In Mai 2018, DJO Global entered into a strategic partnership, managing DJO distribution in areas of North America, with XPO Logistics, a global logistical service provider. These companies also focus more and more on developing custom braces and support for patients.
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