The Global Orthopedic Braces and Supports Market is projected to reach USD 4.6 billion by 2027, at a CAGR of 5.8% during the forecast period. Growth in the orthopedic braces and supports market is mainly driven by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability and market availability, rising number of sports and accident-related injuries, and growing public awareness of preventive care. Increased sales of off-the-shelf and online products, and the expansion and promotion initiatives undertaken by major product manufacturers are also expected to provide a wide range of growth opportunities for players in the market. On the other hand, the limited patient qualification for bracing-mediated orthopedic treatment, limited clinical evidence to support the therapeutic efficacy of orthopedic braces, and the high adoption of pain medications are the major factors expected to limit market growth to a certain extent in the coming years.
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Market Growth Drivers
- Increasing prevalence of orthopedic diseases and disorders
- Continuous product commercialization
- Greater product affordability and market availability
- Rising number of sports and accident-related injuries
- Increased sales of off-the-shelf and online products
- Expansion and promotion initiatives undertaken by major product manufacturers
- Limited patient qualification for bracing-mediated orthopedic treatment
- Limited clinical evidence to support the therapeutic efficacy of orthopedic braces
- Significant adoption of pain medication
- Updated financial information/ product portfolio of players
- Updated market developments of profiled players
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North America to dominate the orthopedic braces and supports Market during the forecast period
North America accounted for the largest share of the global orthopedic braces and supports Market in 2021. The large share of the Market in North America is attributed to factors such as as the continuous development and commercialization of novel orthopedic braces & support products and favorable reimbursements & insurance coverage of major orthopedic bracing procedures in the region drive the Market for orthopedic braces and supports in North America.
The key players operating in the orthopedic braces and supports market include DJO Finance LLC (US), Ossur HF (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), and Essity (Sweden) were the top five players in the global orthopedic braces and supports market. Other prominent players operating in this market include 3M (USA), Ottobock Holding GmbH (Germany), Thuasne Group (France), Zimmer Biomet Holdings, Inc. (US), ALCARE (Japan), Bird & Cronin, Inc. (US), Nippon and Sigmax (Japan), and Becker Orthopedic (US), among others.
- In July 2021, DJO LLC (US), renewed its partnership with USA Lacrosse. DJO has been the Official Sports Brace of USA Lacrosse and the US National Teams since 2017; the renewal extends the partnership to 2024.
- In July 2021, Ossur HF (Iceland) launched the Rebound Post-Op Elbow Brace.
- In Feb 2021, Breg, Inc. (US) launched within the spinal braces segment - 15 new products of the Pinnacle and the Ascend Portfolio.
- In June 2020, DJO LLC (US) launched the X-ROM Post-Op Knee Brace.
Report Link: ( Orthopedic Braces & Supports Market )
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