Orthopedic Braces and Supports Market Value, Volume, Size, Share, Growth, Trends, Competition, Industry Analysis Report, By Product, By Type, by Application, by Distribution Channel, and by Region; Outlook and Forecast, 2023 - 2030

Report Summary

Specific orthopaedic braces can be used under the supervision of medical practitioners or an orthopaedic technician. This is because they require customization or product alteration according to patient features. But, some braces that includes, ankle braces, wrist or hand braces, shoulder braces, elbow braces, and facial braces have increasingly been sold by retailers, off-the-shelf and also e-commerce websites as their use does not require supervision.

What is Orthopedic Braces and Supports Market?

Overview and Key Insights

As per the analysis carried out by our consultants, the orthopedic braces and supports market is projected to grow annually at a CAGR of around 5.8% over the forecast period (2023 – 2030).

In terms of revenue, the market size was valued at around USD 3.4 Billion in 2022 and is projected to reach about USD 5.34 Billion in 2030. Numerous driving factors and rationales are protected to propel market at significant growth rates.

The rising prevalence of orthopaedic diseases or disorders, continuous product commercialization, rise in product affordability and market availability, increasing number of sports and accident-related injuries, and rising public awareness of preventive care.

What are the major growth drivers, restraints, and opportunities in the orthopedic braces and supports market?

Market Trends

• Rising prevalence has boosted the market growth

Every market has its growth determinant and challenges. One of the major factor that has boosted the market growth over the forecast period is the rising prevalence of the orthopaedic clinics braces and support market over the forecast period. Also, the continuous product commercialization and greater product affordability has also boosted the market growth. Additionally, the rising sales of off-the-shelf and online products, and the expansion and promotion initiatives undertaken by major product manufacturers have also boosted the market growth over the forecast period

• Limited patient qualification for bracing-mediated orthopaedic treatment and limited clinical evidence has hindered the market growth

One of the major restrain to the market growth is the limited patient qualification as well as limited clinical evidence to support the therapeutic efficacy of orthopaedic clinics braces and supports market over the forecast period. This is because there is lack of awareness and affordability about the braces market. Also, as orthopaedic braces are used as a part of a non-invasive approach for pain management during compression therapy, the adoption of pain medication for such applications is high because of the low awareness about the benefits of orthopaedic braces and the unfavourable reimbursement scenario for these products, creating a challenge for this market.

What are the Orthopedic Braces and Supports Market Segmentations and Bifurcations?

Key Segmentation Analysis

By Product

• Knee Braces and Supports
• Ankle Braces and Supports
• Foot Walkers and Orthoses
• Hip, Back, And Spine Braces and Supports
• Elbow Braces and Supports
• Compression Socks/Stockings
• Others

The knee braces and supports market has dominated the market growth over the forecast period. This is because of the several benefits that are offered by these products. It includes, medial and lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.

By Type

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

The hand braces and supports segment has dominated the market growth over the forecast period.

By Application

• Preventive Care
• Ligament Injury
• Anterior Cruciate Ligament Injury
• Lateral Collateral Ligament Injury
• Other Ligament Injuries
• Post-operative Rehabilitation
• Osteoarthritis
• Compression Therapy
• Other Applications

The preventive care segment has dominated the market growth over the forecast period.

By Distribution Channel

• Medical Practitioners
• Hospitals and Surgical Center
• Urgent Care Facilities
• Orthopedic Clinics
• Retail Pharmacy
• DME
• Other

The hospitals and surgical centres has dominated the market growth over the forecast period.

What are the Regional and country Trends in the Orthopedic Braces and Supports Market?

Regional Segmentation Analysis

• North America
• Europe
• Asia Pacific
• Middle east and Africa
• Latin America

North America has dominated the regional market growth over the forecast period. This is because of the presence of key players as well as technologically equipped hospitals within the major countries such as, the U.S., and Canada. Also, because of the aging population and prevalence of chronic conditions has boosted the market growth in the region.

How is the competition scenario in the Orthopedic Braces and Supports Market?

Competitive Insights

The competitive landscape of the Orthopedic Braces and Supports Market is fragmented because of the presence of a large number of small, medium, and large enterprises. The main companies operating in the market are:

• Bauerfeind USA Inc.
• 3M
• MUELLER SPORTS MEDICINE INC.
• Breg Inc.
• Essity
• DJO Finance LLC
• Ottobock Holding GmbH
• Thuasne USA
• Zimmer Biomet Holdings Inc.
• Bird & Cronin Inc.
• Nippon and Sigmax
• Becker Orthopedic
• DeRoyal Industries Inc.
• MEDI GMBH & CO. KG
• FOUNDATION WELLNESS (FORMERLY KNOWN AS REMINGTON PRODUCTS COMPANY)
• TRULIFE GROUP LTD
• Others

Orthopedic Braces and Supports Market: Report Scope & Snapshot: