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
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
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:
Report Characteristics
|
Parameters
|
Market size value in 2022
|
USD 3.4 Billion
|
Revenue forecast in 2030
|
USD 5.34 Billion
|
CAGR Growth
|
5.8% from 2023- 2030
|
Base year
|
2022
|
Forecast period
|
2023- 2032
|
Segments Covered
|
By Product, By Application, By Region
|
Regional scope
|
- North America ((By Types, Applications, Segments, and Region))
· Europe ((By Types, Applications, Segments, and Region))
o UK
o Germany
o France
o Italy
o Spain
o Denmark
o Sweden
o Norway
- Asia Pacific ((By Types, Applications, Segments, and Region))
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Latin America ((By Types, Applications, Segments, and Region))
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
|
Key Companies
|
- 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
|
Table of Contents
- Report Introduction and Overview
- Objectives of the Study
- Definition of Orthopedic Braces and Supports Market
- Scope and Description of Orthopedic Braces and Supports Market
- Timelines and Years Considered for the Study
- Market Segmentations
- Type of Global Orthopedic Braces and Supports Market
- Region of Global Orthopedic Braces and Supports Market
- Executive Summary Dashboard
- Global Orthopedic Braces and Supports Market Size Assessment (TAM), Revenue (US$ Mn), Market CAGR (%), Market Forecasts (2023 - 2030)
- Global Orthopedic Braces and Supports Market Size Share (%) and Growth Rate % (Year-on-Year) from 2019 to 2030
- Global Orthopedic Braces and Supports Market - Segments Size Assessment (SAM), Revenue (US$ Mn), Market CAGR (%), Market Forecast (2023 - 2030), By Segments
- Global Orthopedic Braces and Supports Market - Regional Size Assessment (SOM), Revenue (US$ Mn), Market CAGR (%), Market Forecast (2023 - 2030), By Regions
- Absolute Market Opportunity
- Competition Landscape Snapshot
- Ecology/Ecosystem Mapping
- Product/Solution Life Cycle
- Research Methodology
- Data Mining
- External Paid Sources / Databases
- Vertex Internal Proprietary Database
- Secondary Data and Sources
- Primary Research
- Third Party Perspectives
- Subject Matter Expert (SME) Insights
- Data Triangulation & Data Analysis Models
- Bottom-Up Approach
- Top-Down Approach
- Estimation & Forecasts, by Variables
- Data Models Testing and Validation
- Key Insights from Industry Experts & Partners
- Market Formulation and Data Visualization
- Quality Check
- Final Review
- Assumptions
- Limitations
- Report FAQs
- Orthopedic Braces and Supports Industry – Dynamics and Trends Analysis
- Global Orthopedic Braces and Supports Industry Trends under COVID-19 Outbreak
- Global COVID-19 Status Overview
- Influence of COVID-19 Outbreak on Global Orthopedic Braces and Supports Market Industry Development
- Russia-Ukraine War Impacts Analysis
- Inflation Impacts Analysis
- Supply Side Impacts
- Demand Side Impacts
- Outlook in 2023 & Beyond
- Top Trends to Watch Out
- Market Adoption/Penetration Rate Analysis
- Market Dynamics, By Region
- Drivers
- Limitations
- Opportunities
- Impact Analysis of Drivers and Restraints
- Ecosystem/Value Chain Analysis
- Raw Materials/Components Suppliers
- Manufacturers/Vendors
- Distributors
- Buyers/End-users
- Forward Integration & Backward Integration of Key Stakeholders
- Global Orthopedic Braces and Supports Market - Pricing Trends Analysis & Average Selling Prices (ASPs)
- End-User/Customer Preferences & Consumer Surveys’ Insights
- Technology Roadmap & Key Innovations/Developments
- Key Mandates & Regulatory Scenario Analysis
- Patents Landscape
- Cost Structure Share Analysis
- Sustainability and Environmental Impacts Analysis
- Key Mergers & Acquisitions, Expansions, Partnerships/JVs, Funding / VCs, etc.
- Orthopedic Braces and Supports Market Industry - Strategic Analysis
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry / Degree of Competition
- PEST Analysis
- Political Factors
- Economic Factors
- Social Factors
- Technological Factors
- SWOT Analysis
- ANSOFF Matrix Analysis
- Market Penetration Strategy
- Product Development Strategy
- Market Development Strategy
- Diversification Strategy
- Macroeconomic Factors
- Market Investment Feasibility Analysis
- Opportunity Map Analysis
- Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
- Premium Insights
- Attractive Market Opportunities (Key Investment Pockets)
- Market Investment Scenario
- Demand & Supply Scenario
- Global Orthopedic Braces and Supports Market – Production Capacity Analysis, 2019 – 2022
- Global Orthopedic Braces and Supports Market – Production Capacity Concentration Share Analysis, By Region
- Top 3 Strategies Implemented by Major Players
- Global Orthopedic Braces and Supports Market – Gross Profit Margins
- Top 3 Regions/Geographies
- Key Insights from Primary Respondents
- Top 3 Predictions & Recommendations by VERTEX
- Global Orthopedic Braces and Supports Market Sizes & Historical Trend Analysis (2019 - 2022)
- Global Orthopedic Braces and Supports Market Sizes & Forecast Trend Analysis, by Type
- Global Orthopedic Braces and Supports Market Revenue (US$ Mn) Estimates and Forecasts, by Type, 2019 to 2030
- Soft & Elastic Braces and Supports
- Hard Braces and Supports
- Hinged Braces and Supports
- Others
- Global Orthopedic Braces and Supports Market Sizes & Forecast Trend Analysis, by Application
- Global Orthopedic Braces and Supports Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2030
- Preventive Care
- Ligament Injury
- Anterior Cruciate Ligament Injury
- Lateral Collateral Ligament Injury
- Other Ligament Injuries
- Post-operative Rehabilitation
- Osteoarthritis
- Compression Therapy
- Other Applications
- Global Orthopedic Braces and Supports Market Sizes & Forecast Trend Analysis, by Distribution Channel
- Global Orthopedic Braces and Supports Market Revenue (US$ Mn) Estimates and Forecasts, by Distribution Channel, 2019 to 2030
- Medical Practitioners
- Hospitals and Surgical Center
- Urgent Care Facilities
- Orthopedic Clinics
- Retail Pharmacy
- DME
- Other
- Global Orthopedic Braces and Supports Market Sizes & Forecast Trend Analysis, by Region
- Global Orthopedic Braces and Supports Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2030
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Orthopedic Braces and Supports Market Sizes & Forecast Trend Analysis
- North America Orthopedic Braces and Supports Market Assessments & Key Findings
- North America Orthopedic Braces and Supports Market Introduction
- North America Orthopedic Braces and Supports Market Sizes and Forecast (US$ Million) (2019 to 2030)
- Europe Orthopedic Braces and Supports Market Sizes & Forecast Trend Analysis
- Europe Orthopedic Braces and Supports Market Assessments & Key Findings
- Europe Orthopedic Braces and Supports Market Introduction
- Europe Orthopedic Braces and Supports Market Sizes and Forecast (US$ Million) (2019 – 2030)
- By Type
- By Country
- Germany
- K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific Orthopedic Braces and Supports Market Sizes & Forecast Trend Analysis
- Asia Pacific Market Assessments & Key Findings
- APAC Orthopedic Braces and Supports Market Introduction
- APAC Orthopedic Braces and Supports Market Sizes and Forecast (US$ Million) (2019 – 2030)
- By Type
- By Country
- China
- Japan
- India
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa Orthopedic Braces and Supports Market Sizes & Forecast Trend Analysis
- Middle East & Africa Market Assessments & Key Findings
- MEA Orthopedic Braces and Supports Market Introduction
- MEA Orthopedic Braces and Supports Market Sizes and Forecast (US$ Million) (2019 – 2030)
- By Type
- By Country
- A.E.
- Saudi Arabia
- Egypt
- South Africa
- Rest of Middle East & Africa
- South America Orthopedic Braces and Supports Market Sizes & Forecast Trend Analysis
- South America Market Assessments & Key Findings
- South America Orthopedic Braces and Supports Market Introduction
- South America Orthopedic Braces and Supports Market Sizes and Forecast (US$ Million) (2019 – 2030)
- By Type
- By Country
- Brazil
- Argentina
- Colombia
- Rest of South America
- Competition Landscape
- Orthopedic Braces and Supports Market Competition Index, By Leading Players
- Orthopedic Braces and Supports Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants
- Orthopedic Braces and Supports Market Competition White Space Analysis, By Application / End-user
- Orthopedic Braces and Supports Market Competition Heat Map Analysis, By Products / Services / Solutions
- Orthopedic Braces and Supports Market Competition Regional Intensity Map Analysis, By Geographies Served
- Orthopedic Braces and Supports Market Concentration & Company Market Shares (%) Analysis, 2022
- Orthopedic Braces and Supports Market Competition Quadrant Analysis, By Leading Players / Innovators / Emerging Players / New Entrants
- Company Profiles
- Bauerfeind USA Inc.
- Company Overview & Key Figures
- Revenues, Financial Performance & KPIs
- Product / Service / Solutions Portfolio & Applications / End-uses
- Business Strategy
- Recent Developments
* Similar details would be provided for all the players mentioned belowÂ
- 3M
- MUELLER SPORTS MEDICINE INC.
- Breg Inc.
- Essity
- DJO Finance LLC
- Ottobock Holding GmbH
- Thuasne USA
- Zimmer Biomet Holdings Inc
- Bird & Cronin Inc
- Others**
- Research Findings & Conclusion
Key Segments
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
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.
Regional Segmentation Analysis
- North America
- Europe
- Asia Pacific
- Middle east and Africa
- Latin America