South America Orthopedic Braces & Supports Market Outlook, 2028

South America Orthopedic Braces & Supports Market Outlook, 2028

Bonafide Research 30-04-2023 103 Pages Figures : 12 Tables : 20
Region : South America Category : Lifescience Medical Devices

1. Johnson & Johnson,

2. Medtronic

3. Stryker corporation

4. Zimmer Biomet Holdings, Inc.

5. Smith & Nephew plc


Orthopedic braces are the medical aids that support the joints of the human body. The braces are used on the knee, hip, ankle, back, neck, elbow, fingers, and wrist. Orthopedic braces check the position of limbs and trigger a particular movement in the human body. Also, the braces make up for muscles that have less strength and also correct the structural faults. Orthopedic braces assist in detecting cerebral palsy, spina bifida, and treating the symptoms of a stroke. Braces are also used for getting more support to the joints and avoid injuries. Athletes specifically wear braces for shock absorbance and to avoid injuries. The market shows high growth potential in the mentioned period and is also expected to grow in the future years with the recent developments in the medical sector. The growing population, increasing awareness about orthopedic braces, developing research and technology in the medical sector, growing number of bone-degenerative disorders, and stabilizing the economy are the factors that drive the growth of the South America orthopedic braces and supports market. Orthopedic braces and supports are widely used in South America for various medical conditions and injuries. The adoption of orthopedic braces and supports has increased in recent years due to various factors such as an increase in sports-related injuries, aging population, and rising healthcare awareness. In South America, orthopedic braces and supports are commonly used for the treatment of knee injuries, back pain, and fractures. These devices are also used in post-surgery recovery to provide support and stability to the affected area. Additionally, orthopedic braces and supports are used in the treatment of conditions such as arthritis and osteoporosis. The presence of a large number of physiotherapists, increasing burden of orthopedic diseases, growing geriatric population, and easy product affordability and availability are the key growth factors driving the South America orthopedic garments market. The growth is primarily due to the cost-effectiveness of hip and knee replacement surgeries, initiatives taken by public and private organizations to raise awareness about orthopedic surgeries and make them affordable, rising number of sports injuries and road accidents, and increasing healthcare expenditure. According to the research report, “South America Orthopedic Braces & Supports Market Outlook, 2028” published by Bonafide Research, the market is anticipated to add USD 132 Million market size from 2023-28. Many people in South America prefer non-surgical treatment options like orthopedic braces and supports over surgery, which is driving the growth of the market. The growing awareness about the benefits of orthopedic braces and supports is leading to their increased adoption in South America. In addition to traditional orthopedic braces and supports, there is also a growing market for smart and connected devices that incorporate sensors and digital technology to monitor and track patient activity and progress. Many companies in South America are focusing on developing innovative and cost-effective orthopedic brace solutions, such as 3D-printed braces, to meet the needs of patients who may not have access to more expensive options. There is also a trend towards more personalized orthopedic brace solutions, with custom-made braces and supports becoming more widely available in South America. While orthopedic braces and supports are widely used in South America, there is also a need for increased education and awareness among patients and healthcare professionals about their appropriate use and benefits. The expansion of the market in South America is driven by an increase in government funding and the creation of initiatives for healthcare awareness. However, patients preferring alternative treatment methods, the uncertainty of reimbursement, below expectations efficiency of orthopedic braces, and no customization offerings for orthopedic braces are the major restraining factors for South America market. In the South America region, the easy availability of orthopedic garments, braces, and soft goods is attributed to the presence of major market players, including SIGVARIS AG and Tactile Systems Technology Inc. Some of the products readily available in the region are abdominal binders and rib belts, ambulatory aids, arm slings and elevators, cast shoes, knee immobilizers, and post-op shoes, all of which help in the treatment of people suffering from orthopedic diseases. Brazil is the largest market for orthopedic braces and supports in South America. The country has a large population, a growing middle class, and a high incidence of orthopedic injuries and conditions. This growth would primarily be due to the rising cases of orthopedic diseases and the presence of market players who are providing an enormous number of products in the country. Moreover, the increasing awareness on preventive orthopedic care is leading to the increasing demand for orthopedic braces and supports in the nation. The significant growth in the number of senior patients and an increase in the incidence of chronic orthopedic disorders are driving this market's expansion. Future market expansion is anticipated to benefit significantly from the increasing technological developments in OTC braces. It supports goods and the emphasis and expenditures made by the key players. Orthopedic conditions like arthritis, musculoskeletal conditions, and fractures are becoming more common in the region. This is mainly because these nations lack effective treatment systems. Additionally, because of their lower gross national incomes, South America. Brazil has a favourable regulatory environment for medical devices, including orthopedic braces and supports. This has led to a number of international companies entering the Brazilian market. Brazil is known for its passion for sports, particularly football. As a result, the country has a high prevalence of sports-related injuries, especially knee and ankle injuries. Orthopedic braces and supports are commonly used to treat and prevent these injuries. Over the years, there has been an increase in awareness about the benefits of orthopedic braces and supports in Brazil. As a result, patients are more accepting of these devices as a part of their treatment regimen, leading to higher adoption rates. The knee category dominated the market during the historical period, and it is expected to maintain the same trend during the forecast period, based on product type. The growth of the category is mainly due to the broad availability of advanced orthopedic knee supports and braces. Moreover, these products are widely used by older patients and for the rehabilitation of patients with knee injuries. Knee braces and supports are being increasingly customized to provide a better fit and improved functionality. Companies are using new materials and technologies to create braces that are more comfortable and effective. There has been a rise in the availability of sports-specific knee braces and supports in South America. These braces are designed to provide targeted support and protection for athletes involved in different sports. There has been a rise in technological advancements in knee braces and supports, including the use of 3D printing, sensors, and smart materials. These advancements are helping to create more effective and efficient braces and supports. Ligament injuries are a significant concern in South America, particularly among athletes and physically active individuals. The knee is the most commonly affected joint, with injuries to the anterior cruciate ligament (ACL) and medial collateral ligament (MCL) being the most frequent. Ligament injuries can lead to significant pain and discomfort, as well as a reduced range of motion, instability, and functional limitations. They can also have a significant impact on an individual's ability to perform daily activities, work, and participate in physical activities. In South America, the prevalence of ligament injuries is on the rise, with an increase in the number of people participating in sports and other physical activities. This has resulted in a growing demand for orthopedic braces and supports designed specifically for ligament injuries. On the other hand, injury braces and supports are used to provide support and stabilize joints that have been injured. These products are commonly used for sprains, strains, and other soft tissue injuries. The increasing incidence of sports injuries and road accidents is driving the demand for injury braces and supports in South America. The orthopedic braces and supports market in South America is growing rapidly due to several factors, including the increasing incidence of sports injuries, the aging population, and the rise in chronic diseases such as arthritis. As a result, the market is being driven by a growing demand for innovative and advanced orthopedic devices, particularly those designed to provide support and stability to joints, muscles, and ligaments. The distribution channels for orthopedic braces and supports in South America include hospitals, clinics, retail pharmacies, and online channels. However, hospitals and clinics have become the major distribution channel for orthopedic braces and supports in South America due to the increasing number of hospitals and clinics and the availability of skilled medical professionals. Moreover, hospitals and clinics offer a wide range of orthopedic devices and can provide custom-fitted braces and supports to patients. Retail pharmacies are also an important distribution channel in South America, as they offer a range of over-the-counter (OTC) orthopedic braces and supports for minor injuries and strains. Online channels are gaining popularity in South America, as they offer a convenient way to purchase orthopedic braces and supports from the comfort of one's home. In addition to these distribution channels, there is also a growing trend of direct sales by manufacturers to end-users. This approach is gaining popularity due to the increasing demand for customized and specialized orthopedic braces and supports. Direct sales enable manufacturers to provide personalized services and products to patients, thereby enhancing the customer experience and improving patient outcomes. However, online channels and direct sales by manufacturers are also gaining traction, and are expected to contribute significantly to the growth of the orthopedic braces and supports market in South America in the coming years. Some of the popular e-commerce platforms for Orthopedic Braces and Supports Market in South America include Mercado Libre, Amazon Brazil, Netshoes, Dafiti, Linio, Falabella, Ripley, Submarino, Extra and Magazine Luiza. Recent Developments: • In May 2020, Bauerfeind AG unveiled the EpiTrain elbow support, which is equipped with a compression knit and new pads, which help in reducing the irritation in the elbow caused due to epicondylitis, tendinopathy, and osteoarthritis. • In January 2020, DeRoyal Industries Inc. introduced the sport ankle brace with boa closure system, which is also known as the vulnerable ankle. The product is designed to treat ankle sprains and other foot and ankle injuries. Major Companies present in the market: Stryker corporation, Johnson & Johnson (DePuy Synthes), Zimmer Biomet Holdings, Inc., Medtronic, Smith & Nephew plc, Enovis, NuVasive, Inc., Globus Medical, Inc., Beijing Naton Technology Group Co.,Ltd., Orthofix, Essity AB, Arthrex, Inc., Meril Life Sciences Pvt. Ltd, Conmed Corporation, Microport , Medacta International, Lima corporate Considered in this report • Geography: South America • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South America Orthopedic Braces & Supports market with its value and forecast along with its segments • Country-wise Orthopedic Braces & Supports market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report: • Brazil • Argentina • Columbia By Product • Knee Braces and Supports • Ankle Braces and Supports • Foot Walkers and Orthoses • Hip, Back, And Spine Braces and Supports • Shoulder Braces and Supports • Elbow Braces and Supports • Hand & Wrist Braces and Supports • Facial Braces and Supports By Type • Soft & Elastic Braces and Supports • Hard Braces and Supports • Hinged Braces and Supports By Application • Preventive Care • Ligament Injury • Post-operative Rehabilitation • Osteoarthritis • Compression Therapy • Other Applications By Distribution Channel • Hospitals and Surgical Centres • Orthopedic Clinics • Pharmacies & Retailers • E-commerce platforms • Other End Users The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Artificial Lawn industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Read More

Card image cap

Interested in this report?
Get your FREE sample!

Requirement Gathering & Methodology
Data Collection Techniques
Our Research Team & Data Sourcing
Data Science & Analytical Tools
Data Visualization & Presentation Skills
Project/ Report Delivery & After Sales Services