Orthopedic braces and supports are the products used to change or alter the functioning of musculoskeletal system. These devices are mainly used for rehabilitation from illness, trauma, and even congenital conditions. At present, the global orthopedic braces and supports market is driven by baby boomer population, high focus on improving quality of life, innovation in nature of braces and supports, rising incidence of sports injuries and others. Conversely, restricted reimbursement and payment models, and healthcare budgets put constraints to the growth of this market.

The purpose of this research study titled ‘orthopedic Braces and Supports Market - Growth, Future Prospects, and Competitive Analysis, 2017 – 2025’ is to provide investors, developers, company executives and industry participants with in-depth analysis to allow them to take strategic initiatives and decisions related to the prospects in the global orthopedic braces and supports market. This report presents and analyzes the major trends prevalent in the global orthopedic braces and supports market and the market size and forecast.

This report categorizes the global orthopedic braces and supports market in terms of product type, usage areas and geographical distribution. Based on product type, the global orthopedic braces and supports market is categorized into knee braces and supports (knee support braces, knee braces for osteoarthritis and ligament injuries and post-surgery knee braces), foot and ankle braces and supports (soft braces and hinged braces), upper extremity braces and supports (wrist and hand supports, shoulder supports and elbow supports), neck and spine braces and supports and exoskeletons. On the basis of usage area, the global orthopedic braces and supports market is categorized into hospitals, specialty clinics, home care and others. Market size and forecast for each mentioned segment for the period 2015-2025 is presented in the report along with respective CAGRs for the forecast duration 2017-2025.

The market size and forecast of each considered geographical market is presented for the period 2015-2025 along with CAGRs for the forecast period 2017-2025 in this study and are further cross-sectional presented in terms of product type, usage areas and constituent region/country level markets. 

This report also includes qualitative assessment factors such as market dynamics (drivers, restraints and opportunities) to have a good understanding of the current and anticipated trends in the global orthopedic braces and supports market. Competition assessment tools such as, major agreements, partnerships and collaborations, market attractiveness assessment and competitive landscape analysis by key players are also demonstrated in the study. Furthermore, this report concludes with profiling of key market players currently enjoying prominent position in the orthopedic braces and supports market. The key players profiled in this report are Alcare Co., Ltd., Ascent Meditech Ltd., Bauerfeind AG, Breg, Inc., BSN Medical, DeRoyal Industries, Inc., DJO Global, FLA Orthopedics, Inc., Frank Stubbs Co., Inc., McDavid, Inc., Össur Corporate, Otto Bock Healthcare GmbH, OPPO Medical, Inc., ReWalk Robotics and Trulife.

Based on the usage areas, the global orthopedic braces and supports market is segmented as follows:

1.   Hospitals

2.   Specialty Clinics

3.   Home Care

4.   Others

Among the considered usage areas, specialty clinics and facilities is observed to be the largest segment for orthopedic braces and supports. Higher influx of patients in orthopedic specialty clinics as against hospitals chiefly contribute to the dominance of this segment. There is also a reported trend of increasing over-the-counter availability of these products. This has further led to significant growth in demand for orthopedic braces and supports in home care. The home care segment is expected to further proliferate on the ground of increasing sports injuries and growing demand for orthopedic braces and supports particularly for extremities for the purpose of injury prevention and pain management.

Based on the product types, the global orthopedic braces and supports market is segmented as follows:

1.   Knee Braces and Supports

a.    Knee Braces for Osteoarthritis and Ligament Injuries

b.    Post-surgery Knee Braces

2.   Foot and Ankle Braces and Supports

a.    Soft Braces

b.    Hinged Braces

3.   Upper Extremity Braces and Supports

a.    Wrist and Hand Supports

b.    Shoulder Supports

c.    Elbow Supports

4.   Neck and Spine Braces and Supports

5.   Exoskeletons

Most of the market segments considered for the purpose of this study are expected to steadily progress mainly due to the growing geriatric population and prevalence of osteoarthritis and obesity. Knee braces and supports segment is expected to retain its dominance through and beyond the forecast period. High worldwide prevalence of osteoarthritis and obesity and growing disposable incomes of the general population are the key factors supporting the dominance of this segment. Additionally, neck and spine braces and supports will experience the highest demand during the forecast period 2017-2025. Technological development and rapid regulatory approvals will open lucrative market penetration opportunities for exoskeletons segment, particularly in the developed markets of North America and Western Europe.

Geographically, the global orthopedic braces and supports market is cumulative to North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America and Western Europe capture over 55% of the global orthopedic braces and supports market. High prevalence of obese and arthritic patients, growing geriatric population and evolved reimbursement policies and healthcare infrastructure mainly contribute to the dominance of the mentioned regional markets. Furthermore, entry of several players in the emerging economies of Asia Pacific and increasing awareness and disposable incomes of the domestic population, along with revival of healthcare infrastructure makes Asia Pacific the fastest growing regional market for orthopedic braces and supports.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Orthopedic Braces and Supports market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Orthopedic Braces and Supports market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Orthopedic Braces and Supports market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Orthopedic Braces and Supports market?
• Which is the largest regional market for Orthopedic Braces and Supports market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Orthopedic Braces and Supports market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Orthopedic Braces and Supports market worldwide?