Orthopedic Braces And Supports Industry Overview
The global orthopedic braces and supports market size was valued at USD 4.06 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030. Increasing product and technological developments, geriatric population, the prevalence of chronic and acute conditions, and initiatives by major companies are some of the key drivers of this market. For instance, in February 2021, BREG, Inc. launched Pinnacle and Ascend lines of orthopedic braces comprising of 15 products for patients with spinal injuries. With this, the company expanded its portfolio in manufacturing every major orthopedic bracing category, including walker boots, upper and lower extremity braces, and cold therapy devices.
The COVID-19 pandemic adversely impacted the orthopedic braces and supports market in 2020 with low demand and sales. The bracing support market is largely driven by surgeries, injuries, and access to physicians- all of which were affected by the pandemic and the associated measures. The market gradually recovered by the end of 2021 as patient visits resumed and surgery volumes went up.
Gather more insights about the market drivers, restrains and growth of the Global Orthopedic Braces And Supports market
Clinicians also noted that many people suffered from the effects of detraining when physical activities resumed after the lifting of lockdown restrictions. These included reduced neuromuscular capability, muscle mass and diminished speed, flexibility, and strength, plus endurance, thus increasing the risk of injury. Factors unrelated to the pandemic also presented challenges for the market stakeholders. For example, competitive bidding for off-the-shelf spinal and back braces came into effect in January 2021 in the U.S. This is expected to increase pressure on pricing for certain products.
Increasing amateur sports and activity levels, the geriatric population in key markets across the globe, number of elective orthopedic surgeries e.g., knee replacement is anticipated to drive the demand for high-end products such as the Unloaded OA bracing products and postoperative bracing solutions. Rising incidences of osteoarthritis are a leading orthopedic condition impacting product demand. It is the most common form of arthritis affecting populations of all ages. The Centers for Disease Control and Prevention (CDC) estimated that nearly 78 million U.S. adults above 18 years of age are anticipated to be diagnosed with arthritis by 2040.
The geriatric population is considered as one of the highest contributors to the demand for orthopedic braces and support. This population is highly susceptible to musculoskeletal disorders. Bones and connecting tissues, such as ligaments and cartilages, naturally weaken with growing age. This poses a high risk for muscle injury mainly in the knees and shoulders of the elderly.
This further stiffens the joints, which raises the need for braces and supports to improve mobility. ACL sprains and tears are the other commonly affecting conditions affecting people involved in high-demand activities such as football, gymnastics, soccer, downhill skiing, and basketball. As movement restrictions were eased, injuries due to the potential impact of detraining emerged as a key contributing factor to ACL injuries.
Products in the medical devices industry are subject to pricing pressures, controls, or any other price restrictions globally. Pricing may alter owing to the direct intervention of a country’s government in establishing prices. For instance, competitive bidding for off-the-shelf spinal and back braces came into effect in January 2021 in the U.S. This is expected to increase pressure on pricing for certain products. Likewise, in February 2020, the Indian Government gazette a notice that brought all medical devices and medical equipment sold in the country under the existing quality and safety regulatory framework by declaring them as “drugs”.
Sports-related injuries are raising with the growing number of sports activities. Athletes are focused on fitness-related activities such as running, cycling, and others. While gaining health benefits through such activities, they are likely to sustain injuries, which can further lead to ligament injury. Indoor athletes are at high risk for ankle ligament tear. Hence, they are expected to generate substantial demand for ankle braces. In addition, ankle braces are recommended post an acute ankle sprain. Athletes also use orthopedic braces to protect themselves from further injury during sports activities. It helps them restrict unwanted movement during matches, thereby, facilitating a convenient play.
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Orthopedic Braces And Supports Market Segmentation
Grand View Research has segmented the global orthopedic braces and supports market reports based on the product, end-user, and region:
Orthopedic Braces And Supports Product Outlook (Revenue, USD Million, 2017 - 2030)
- Braces Supports Type
- Knee Braces Supports
- Knee Braces for Osteoarthritis and Ligament Injuries
- Post-operational Knee Braces
- Back Braces Supports
- Upper Spine Orthoses
- TLSOs
- LSOs
- Others
- Ankle Braces Supports
- Soft Braces
- Hinged Braces
- Walker Boots
- Pneumatic
- Non-pneumatic
- Upper Extremity Braces Supports
- Elbow Braces Supports
- Wrist Braces Supports
- Others
- Others
- Knee Braces Supports
- Pain Management Products
- Cold Therapy Products
- DVT Products
Orthopedic Braces And Supports End-User Outlook (Revenue, USD Million, 2017 - 2030)
- Orthopedic Clinics
- Over the Counter (OTC)
- Hospitals
- DME Dealers
- Others
Orthopedic Braces And Supports Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Market Share Insights
- September 2021: Össur launched the REBOUND ACL brace thus expanding its portfolio. The product is indicated to help patients recovering from anterior cruciate ligament (ACL) injury. Otto Bock is another leading market player that offers an extensive portfolio of braces and supports for spine, knee, shoulder, foot ankle, hip, and elbow /wrist/ hand.
- June 2021: TayCo Brace- a medical device start-up specializing in ankle braces for injury recovery, received USD 1.2 million in funding from multiple investors. The company’s customer base includes over 65 NCAA teams, medical providers in 47 states, 17 NFL teams, and several medical centers.
Key Companies profiled:
Some of the key players in the global orthopedic braces and supports market include:
- Össur
- BREG, Inc.
- DeRoyal Industries, Inc.
- Bauerfeind
- DJO Global, Inc.
- Otto Bock
- Fillauer LLC
- Frank Stubbs Company Inc.
- McDavid
- Hely Weber
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