Orthopedic Braces & Supports Market By Product (Elbow Braces & Supports, Hand & Wrist Braces & Supports, Knee Braces & Supports, Hip Braces & Supports, Ankle & Foot Braces & Supports, Lower Spine Braces & Supports and Neck & Cervical Braces & Supports), Type (Hard Braces and Supports and Soft & Elastic Braces and Supports), Application (Compression Therapy, Post-Operative Rehabilitation, Ligament Injury, and Osteoarthritis) and Distribution Channel (E-Commerce Platforms, Pharmacies & Retailers, Hospitals, and Orthopedic Clinics) - Global Analysis & Forecast 2020-2030
Report ID : 347 | Published Date : May 2020 | Pages : 170 | Region : Global | Report Code : MD-110
Orthopedic Braces & Supports Market Overview and Introduction
Orthopedic braces and supports are medical devices that provide the body with the assistance and comfort needed to either recover from an injury or to take precautions from having any injury. Some orthotic braces are used passively, meaning that they simply support the injured or weakened body part. They are used to facilitate healing following an injury to the spine or related soft tissues, and to reduce pain by restricting mobility of the trunk, etc.
The global orthopedic braces & supports market is primarily driven by the increasing incidents of orthopedic diseases & disorders, globally. According to the WHO, musculoskeletal conditions are the leading contributors to disability worldwide with low back pain being the single leading cause of disability globally. Moreover, the rising number of individuals suffering from chronic venous diseases, experiencing increased pressure strains on the leg veins, is anticipated to further propel market growth during the forecast period. Continuously evolving lifestyles have led to minimal physical activity, in turn, propelling the number of obesity-related ailments. Furthermore, rising incidents of sports injuries and accidents are resulting in the increased demand for orthopedic braces & support. These factors are anticipated to propel market growth during the forecast period. However, the lack of awareness regarding bracing-mediated orthopedic treatments may hinder market growth to a certain extent.
The global orthopedic braces & supports market has been segmented into the following categories - product, type, application, and distribution channel.
Orthopedic Braces & Supports Market By Product
Based on product, the market can be segmented into elbow braces & supports, hand & wrist braces & supports, knee braces & supports, hip braces & supports, ankle & foot braces & supports, lower spine braces & supports, neck & cervical braces & supports and other braces & supports. Knee braces & supports will dominate market during the forecast period owing to the rising number of individuals affected by knee-joint-related injuries and those suffering from arthritis. Along with other joint-related disorders, sports players, and patients who have undergone knee surgeries will contribute significantly to market growth.
Orthopedic Braces & Supports Market By Type
Based on type, the market can be segmented into hard braces & supports, soft & elastic braces & supports, and others. Soft & elastic braces & supports accounted for the largest market share owing to their ease-of-use, comfort, flexibility, etc., resulting in the high adoption of these products among people suffering from lower extremity disorders.
Orthopedic Braces & Supports Market By Application
Based on application, the market can be segmented into compression therapy, post-operative rehabilitation, ligament injury, and osteoarthritis. The ligament injury segment dominated the market due to the rising number of accidents worldwide coupled with rising incidents of sports-related injuries.
Orthopedic Braces & Supports Market By Distribution Channel
Based on distribution channel, the market can be segmented into e-commerce platforms, pharmacies & retailers, hospitals, orthopedic clinics and other distribution channels. The hospitals segment dominated the market due to the increased number of these facilities, which are well equipped for orthopedic surgical procedures, coupled with the growing availability of insurance coverage for the surgical treatment of orthopedic disorders such as ligament injury, bone deformity, scoliosis, and osteoporosis.
Orthopedic Braces & Supports Market By Region
Based on the region, the global orthopedic braces & supports market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the market owing to the rising prevalence of orthopedic injuries, supportive government regulations for product commercialization and favorable reimbursement & insurance coverage for major orthopedic bracing procedures, contributing to market growth. Moreover, well-established healthcare infrastructures are further contributing to the overall market growth in this region.
Orthopedic Braces & Supports Market Prominent Players
Some of the key players operating in the global orthopedic braces & supports market include 3M, ALCARE Co., Ltd., Bauerfeind, Breg, Inc., Bird & Cronin Inc., BSN medical., DeRoyal Industries, Inc., DJO Global, Inc., medi GmbH & Co. KG, Össur Corporate, and others.