DUBLIN, Aug. 18, 2020 /PRNewswire/ -- The "Orthopedic Braces & Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Neck, Elbow, Hand, Wrist), Category (Soft, Hard, Hinged), Application (Ligament (ACL, LCL), Preventive, OA), Distribution (Hospital) & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global orthopedic braces and supports market size is projected to reach USD 4.1 billion by 2025 from USD 3.1 billion in 2020, at a CAGR of 5.8%.
The growth in the market is driven majorly by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, higher product affordability & market availability, rising number of sports and accident-related injuries, and growing public awareness related to preventive care. However, 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 that are expected to restrain the growth of this market during the forecast period.
The recent COVID-19 global pandemic has also impacted the orthopedic braces and supports market. Demand from the main end-users has declined significantly as key regions and countries have imposed social distancing rules and lockdowns. This impact is expected to be short-term, and no adverse effects are to be foreseen after the market gradually reopens.
The knee braces and supports segment to witness the highest growth rate in the orthopedic braces and supports market, by product, during the forecast period.
The knee braces and support segment is expected to witness the highest growth rate during the forecast period. The high growth in this segment can be attributed to the several benefits offered by these products, such as medial & lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.
Soft braces and supports segment to witness the highest growth rate in the orthopedic braces and supports market, by type, during the forecast period.
The soft & elastic braces and support segment is estimated to grow at the highest CAGR during the forecast period. Growth in this market can primarily be attributed to the increasing availability of advanced products, rising adoption & patient preference for orthopedic braces in post-operative and preventive care, and the supportive reimbursement scenario for target products across mature markets.
The ligament injury segment accounted for the largest share of the orthopedic braces and supports market, by application, in 2019.
The ligament injury segment accounted for the largest share of the orthopedic braces and supports the industry in 2019. The large share of this segment is attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries.
The hospitals & surgical centers segment accounted for the largest share of the orthopedic braces and supports market, by distribution channel, in 2019.
The hospitals & surgical centers segment accounted for the largest share of the orthopedic braces and support industry in 2019. Market growth can largely be attributed to the growing number of orthopedic surgical procedures that require post-operative patient rehabilitation. Moreover, the favorable reimbursement for customized braces and supports (coupled with the increasing availability of insurance coverage for the surgical treatment of orthopedic disorders such as ligament injury, bone deformity, scoliosis, and osteoporosis) across major countries is also driving growth.
The Asia Pacific market to grow at the highest CAGR during the forecast period.
The orthopedic braces and supports market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period majorly due to the significant prevalence of orthopedic & diabetes-related diseases in this population segment, increasingly localized product manufacturing, favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries.
This report studies the orthopedic braces and supports market based on the product, type, application, end-user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).
The major players operating in the orthopedic braces and supports market are ssur Hf (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Ottobock Holding GmbH & Co. KG (Germany), Medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Remington Products Company (US), 3M Company (US), Zimmer Biomet Holdings, Inc. (US), DeRoyal Industries, Inc. (US), Bird & Cronin, Inc. (US), Becker Orthopedic (US), and Trulife (Ireland).
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Orthopedic Braces and Supports Market Overview
4.2 Asia Pacific: Orthopedic Braces and Supports Market, by Distribution Channel
4.3 Orthopedic Braces and Supports Market, by Product
4.4 Orthopedic Braces and Supports Market, by Type
4.5 Orthopedic Braces and Supports Market, by Application
4.6 Orthopedic Braces and Supports Market, by Country
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Increasing Prevalence of Orthopedic Diseases and Disorders
220.127.116.11 Continuous Product Commercialization
18.104.22.168 Greater Product Affordability and Market Availability
22.214.171.124 Rising Number of Sports and Accident-Related Injuries
126.96.36.199 Growing Public Awareness Related to Preventive Care
188.8.131.52 Limited Patient Qualification for Bracing-Mediated Orthopedic Treatment
184.108.40.206 Limited Clinical Evidence to Support the Therapeutic Efficacy of Orthopedic Braces
220.127.116.11 Increased Sales of Off-The-Shelf and Online Products
18.104.22.168 Promotion and Branding Initiatives Undertaken by Major Product Manufacturers
22.214.171.124 Significant Adoption of Pain Medications
5.3 Reimbursement Scenario
5.4 Regulatory Scenario
5.5 COVID-19 Impact
6 Orthopedic Braces and Supports Market, by Product
6.2 Knee Braces and Supports
6.3 Ankle Braces and Supports
6.4 Foot Walkers and Orthoses
6.5 Back, Hip, and Spine Braces and Supports
6.6 Shoulder Braces and Supports
6.7 Elbow Braces and Supports
6.8 Hand & Wrist Braces and Supports
6.9 Facial Braces & Supports
7 Orthopedic Braces and Supports Market, by Type
7.2 Soft & Elastic Braces and Supports
7.3 Hard Braces and Supports
7.4 Hinged Braces and Supports
8 Orthopedic Braces and Supports Market, by Application
8.2 Ligament Injury
8.3 Preventive Care
8.4 Post-Operative Rehabilitation
8.6 Compression Therapy
8.7 Other Applications
9 Orthopedic Braces and Supports Market, by Distribution Channel
9.2 Orthopedic Clinics
9.3 Hospitals & Surgical Centers
9.4 Pharmacies & Retailers
9.5 E-Commerce Platforms
9.6 Other Distribution Channels
10 Orthopedic Braces and Supports Market, by Region
10.2 North America
10.4 Asia Pacific
10.5 Latin America
10.6 Middle East & Africa
11 Competitive Landscape
11.2 Global Market Share Analysis (2019)
11.3 Competitive Scenario (2014-2019)
11.3.1 Key Product Launches (2014-2019)
11.3.2 Key Expansions (2015-2019)
11.3.3 Key Mergers and Acquisitions (2015-2019)
11.3.4 Key Partnerships (2015-2019)
11.4 Competitive Leadership Mapping
11.5 Vendor Inclusion Criteria
11.5.1 Visionary Leaders
11.5.3 Dynamic Differentiators
11.5.4 Emerging Companies
12 Company Profiles
12.1 3M Company
12.2 Alcare Co. Ltd.
12.3 Bauerfeind AG
12.4 Bird and Cronin, Inc. (Part of Dynatronics Corporation)
12.5 Breg, Inc.
12.6 BSN Medical (Part of Svenska Cellulosa Aktiebolaget)
12.7 Deroyal Industries, Inc.
12.8 DJO Finance LLC (Subsidiary of Colfax Corporation)
12.9 Medi GmbH & Co. KG
12.1 Ossur HF
12.11 Ottobock Healthcare (Part of Ottobock Group Scandinavia)
12.12 Remington Products
12.15 Zimmer Biomet Holdings, Inc.
12.16 Other Companies
12.16.1 FLA Orthopedics
12.16.3 Aspen Medical Products, LLC
12.16.4 Nippon Sigmax Co. Ltd.
12.16.5 Mueller Sports Medicine, Inc.
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