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Orthopedic Braces and Support System Market

Knee Braces and Supports to Hold Over 50% Revenue Share in Orthopedic Braces and Support System Market: Fact.MR Study

Published : 09 Nov 2021 Industry: Healthcare

As per Fact.MR, a market research and competitive intelligence provider, the global orthopedic braces and support system market is anticipated to top US$ 5.5 Bn by 2031, progressing at a CAGR of 6% over the next ten years.

Increasing incidence of fractures, ruptured or bulging disks, and back pain due to heavy or improper lifting is expected to drive sales of orthopedic braces & support systems positively. In addition, demand for orthopedic braces remains high among obese persons due to growing need for weight management. Obese people face difficulties while walking and moving around, attributed to weight issues.

Attributed to their water-resistant and lightweight features, demand for orthopedic braces and support systems will continue to rev up significantly over the next ten years.

Key Takeaways from Market Study

  • Global orthopedic braces and support system market to top US$ 5.5 Bn by 2031.
  • Knee braces and supports projected to reach around US$ 2.7 Bn by 2031.
  • Ankle braces and supports projected to record above 4% CAGR over next 10 years.
  • Market in North America holds share of more than 40%.
  • Market in France expected to reach valuation of US$ 700 Mn by 2031.
  • Market in Australia to record 3% CAGR over forecast period of 2021- 2031.

“Application of orthopedic braces enables controlling and guiding a joint or injured body part to limit or immobilize extremities during a foot injury, and demand for a faster restoration process of fractures after removing the cast continues to contribute towards high demand for orthopedic braces & support systems,” says a Fact.MR analyst.

Market Competition

Key manufacturers of orthopedic braces and support systems are investing in innovation and diversification to accelerate sales growth, extend customer reach, and improve customer retention and loyalty. Partnerships and collaborations are two of the most popular ways for companies to increase their market share.

  • In July 2020, Thuasne announced the launch of its ActionReliever, a prescription-only arthritis knee brace. This is a low-cost option that can help individuals with unicompartmental knee arthritis avoid or postpone surgery.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the orthopedic braces and support system market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The study divulges essential insights on the market on the basis of product (knee braces and supports, ankle braces and supports, foot walkers and orthoses, hip, back, & spine braces and supports, shoulder braces and supports, neck & cervical spine braces and supports, hand & wrist braces and supports, and others), type (soft & elastic braces and supports, hinged braces and supports, and hard braces and supports), application (preventive care, ligament injury, anterior cruciate ligament injury, lateral collateral ligament injury, post-operative rehabilitation, osteoarthritis, and compression therapy), and end user (orthopedic clinics, hospitals, ASCs, home care settings, and over the counter (OTC) orthopedic braces and supports), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).

Fact.MR’s Domain Knowledge in Healthcare

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Shambhu Nath Jha

Fact.MR

Sr. Consultant - Healthcare

E-mail: shambhu@factmr.com

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Orthopedic Braces and Support System Market

Orthopedic Braces and Support System Market
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Orthopedic Braces and Support System Market Report By Product (For Knee, Ankle, Foot Walkers, Hip, Back, & Spine), By Type (Soft & Elastic, Hinged, Hard Braces), By Application (Ligament Injury, Osteoarthritis, Compression Therapy), By End User (Orthopedic Clinics, Hospitals, Home Care Settings) - Regional Forecast 2021-2031.