Orthopedic Braces And Supports Market To Register Incremental Sales Opportunity By 2030

Orthopedic Braces And Supports Industry Overview

The global orthopedic braces and supports market size is anticipated to reach USD 7.01 billion by 2030, registering a CAGR of 6.5% during the forecast period, according to a new report by Grand View Research, Inc. The key factors driving the market growth include the rising prevalence of chronic diseases such as osteoarthritis and rheumatoid arthritis, the incidence of trauma & injury, and technological advancements. In December 2021, Nan yang Technological University, Singapore, and an engineering firm developed X-Brace - a knee brace that is 30.0% lighter than conventional knee braces. It is distributed by a subsidiary of Delsson- Wearable Kinetics.

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:

Based on the Product Insights, the market is segmented into Braces & Supports Type and Pain Management Products.

• The braces & supports type segment held the largest market share in 2021 owing to a rise in injuries and orthopedic disorders, such as arthritis.
• Braces & supports type segment is further segmented into the knee, ankle, back, upper extremity braces and supports, and walking boots.
• The rising prevalence of knee, ankle, and upper extremity-related disorders and injuries has led to a huge demand for these products.
• Knee braces and supports held the largest revenue share in 2021, owing to a rising number of the target population affected by knee joint-related ailments.
• In 2021, pain management products held a significant market share due to the growing prevalence of pain-related disorders and demand for the treatment of chronic back and joint pain.
• This segment is sub-divided into cold therapy and Deep Vein Thrombosis (DVT) products.

Based on the End-use Insights, the market is segmented into Orthopedic Clinics, Over the Counter (OTC), Hospitals, DME Dealers and Others.

• In 2021, orthopedic clinics held the largest market share of more than 28.0%. This is due to the orthopedic clinics being the primary point of care for patients suffering from musculoskeletal pain.
• Hospitals held a significant market share owing to a large number of patients seeking treatment at hospitals, especially in case of traumatic injuries. These may range from spinal injuries, bone fractures, and injuries suffered in road accidents.
• OTC-related orthopedic braces are projected to exhibit lucrative growth during the forecast period due to the easy availability of these products in retail pharmacies.

Orthopedic Braces And Supports Regional Outlook

• North America
• Europe
• Asia-Pacific
• Latin America
• MEA

Key Companies Profile & Market Share Insights

The orthopedic braces and support markets are competitive. Major market players are deploying strategic initiatives, such as the expansion of the distribution network, product development, partnerships, sales & marketing activities, and others.

Some prominent players in the 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

Order a free sample PDF of the Orthopedic Braces And Supports Market Intelligence Study, published by Grand View Research.