Orthopedic Braces and Support System Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2017 to 2022

Published on : Nov-2017 | List of Tables : 103 | List of Figures : 60 | No. of Pages : 170 | Report Code : FACT327MR |

Growing prevalence of arthritis, spinal deformities, sciatic nerve, impaired muscle, paralysis, fracture injury and stroke has led to an upsurge in demand for orthopedic braces & support system. Improper and heavy lifting further leads to bulging or ruptured disks, scoliosis, stress-induced back pain and scoliosis. According to CDC, an estimated 22.7% of the adults reported doctor diagnosed arthritis with higher age-adjusted prevalence in the women (23.5%) as compared to men (18.1%) in 2015. Wide range of foot related problems has led to a surge in adoption of the orthotic shoe devices and other orthopedic braces globally.

orthopedic braces support system market

According to Fact.MR, the global orthopedic braces & support system market is expected to represent a value of over US$ 3,000 Mn by the end of 2022.

Market Taxonomy

Region

Product

End User

North America

Knee Braces & Supports

Hospitals

Latin America

Foot and Ankle Braces & Supports

Orthopedic Clinics

Europe

Spinal Orthoses

ASCs

Japan

Shoulder Braces & Supports

Home Care Settings

APEJ

Wrist & Hand Braces & Supports

 

MEA

   

(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)

Leg and Knee Injury to Boost Adoption

In order to offer comfort and convenience, the manufacturers in the orthopedic industry are focusing on exploring leading technology to integrate advanced features in the orthotic shoe devices that enable the end users to keep their foot in the neutral position and offer cushioning to protect the foot from overuse. Increasing incidences of fracture has led to surge in demand for speedy restoration process post removal of the cast. In addition, growing need to support the weak limbs continues to boost sales of the orthopedic braces and supports globally. The orthopedic braces guide or control an injured body segment or joint and immobilizes or limits an extremity during foot injury.

Application of the orthopedic braces also witness significant demand for managing weight issues among obese people. Obese patients struggle to walk or move comfortably and conveniently due to unmanageable weight. In order to reduce the weight bearing, the orthopedic braces are increasingly used among the obese people.

Technological Advancements to Underscore Lucrative Growth Opportunities

Manufacturers in the orthopedic industry are increasingly focusing on designing the orthopedic braces in line with smart technology. Some of the recently launched orthopedic products equipped with smart technology include step smart braces, smart AFO braces and smart spine braces. Companies operating in this industry are focusing on product innovation and developments in order to gain a competitive edge over the other market players. In order to gain traction in the global market, the companies are designing the smart devices with features that enable the skin to breathe and avoid developing bad smell. Manufacturers are increasingly adopting anatomical modelling software applications and hypoallergenic materials for enhanced accuracy and efficiency in designing the product. As these devices are lightweight and water resistant, demand for the orthopedic devices is likely to increase in the healthcare industry.

Hospitals to Represent a Leading Segment

With the growing prevalence of knee and leg injuries has led to an upsurge in demand for the knee braces & supports. On the basis of product type, the knee braces & supports is expected to generate significant revenues, accounting for a value of over US$ 500 Mn by the end of 2022. The knee braces & support product type segment is expected to register a robust CAGR throughout the forecast period.

Based on end users, the hospitals segment is expected to represent the highest revenue growth, recording a value of over US$ 500 Mn by the end of 2017. However, the ASCs end users segment is expected to register the highest CAGR through 2022.

Competition Tracking

Leading market players operating in the global orthopedic braces & support system market include Bauerfeind AG, Breg, Inc., BSN Medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Ossur hf., Otto Bock Healthcare GmbH, Promedics Orthopedics Ltd., Ascent Meditech Ltd. and Trulife Inc.

Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR

Growing prevalence of the arthritis has led to an upsurge in demand for the orthopedic braces & support systems globally. In addition, increasing demand for orthopedic braces and support systems equipped with advanced technological features is expected to impact growth of the global market. This Fact.MR report analyzes the expansion of global orthopedic braces & support systems market till date, and provides key insights on the growth of the market during the forecast period, 2017-2022.

Scope

The scope of Fact.MR’s report is to analyze the global orthopedic braces and support systems market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Medical device manufacturers, research institutes, and raw material suppliers in the global orthopedic braces & support systems market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to orthopedic braces & support system.

Summary

The report commences with a brief information of the global orthopedic braces & support systems market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global orthopedic braces & support systems market.

Overview

The next section offers an overview of the global orthopedic braces & support systems market. This comprises an introduction to the market, along with a standard definition of the product – orthopedic braces & support systems. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.

The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.

In order to offer readers with up-to-date information about the latest advancements in the global orthopedic braces & support systems market, the report provides updates about market opportunities, which can benefit leading manufacturers of orthopedic braces & support systems. With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for orthopedic braces & support systems manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, regulatory approvals, pricing analysis, list of distributors, and cost structure are provided in this section.

The Fact.MR report provides segment-wise analysis and forecast for covering the wide scope of global orthopedic braces & support systems market. Product type, end user, and region are key segments that define the growth of the global market for orthopedic braces & support systems. In this segmentation analysis, a detailed country-wise forecast across all key market parameters is also included.

The report’s last section comprises of the global orthopedic braces & support systems market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global orthopedic braces & support systems market.

Research Methodology

Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,

  • Primary research
  • Secondary research
  • Trade research
  • Focused interviews
  • Social media analysis

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Orthopedic Braces and Support System Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2017 to 2022