Global Orthopedic Braces & Supports Market Overview, 2023-28

Orthopedic braces and supports are used in the field of orthopedics to address aging-related disorders such as osteoarthritis, traumatic injuries, sports injuries and others. Furthermore, orthopedic braces and supports help users to walk more comfortably while also reducing pain, assisting with limb movement, and reducing swelling and inflammation. Additionally, they allow patients to work and move without any support. Furthermore, it is utilized to treat a wide range of medical ailments and is meant to provide varying levels of support or protection to the patients. Growing rates of orthopedic problems rise in consumer awareness about preventative care, and an increase in sports-related accidents and injuries is expected to propel the orthopedic braces and supports industry during the forecast years. Moreover, an increase in the number of cases of osteoporosis is expected to improve the product sales in the near future. Additionally, the easy accessibility of products through e-commerce is likely to drive market expansion over the forecast period. However, the expansion of the market is expected to hamper by the widespread use of pain medications and lack of consumer awareness regarding the bracing-mediated orthopaedic treatment. The rising prevalence of orthopedic diseases and disorders, continuous commercialization of products, greater affordability of products and easy accessibility in the market, an increasing number of sports & accident-related injuries, and rising consumer awareness about preventive care and others are fuelling the growth of orthopedic braces and supports market. Growing sales of online as well as off-the-shelf products, along with the development and promotion initiatives taken by the key market players, are likely to offer immense growth opportunities of growth for the market in terms of value sales. According to the research report, “Global Orthopedic Braces & Supports Market Overview, 2023-28” published by Bonafide Research, the market is anticipated to cross USD 6400 Million, increasing from USD 4642.14 Million in 2022. The market is expected to grow with CAGR of 5.82% by 2023-28. The rising incidence of orthopedic disorders such as osteoarthritis, rheumatoid arthritis, and osteoporosis is one of the key drivers of the orthopedic braces and supports market. As the aging population continues to grow, the demand for orthopedic braces and supports is expected to increase. With the increasing popularity of sports and fitness activities, the incidence of sports-related injuries is also increasing. This is driving the demand for orthopedic braces and supports among athletes and fitness enthusiasts. The development of advanced materials and technologies, such as 3D printing and smart materials, has improved the design and functionality of orthopedic braces and supports. This is driving the demand for innovative products in the market. With the rise of outpatient procedures, there is a growing need for orthopedic braces and supports that can be used at home to aid in recovery. This is driving the demand for easy-to-use and effective orthopedic braces and supports. The increase in healthcare expenditure in developing countries is driving the growth of the orthopedic braces and supports market, as more people are able to afford these products. Patients are increasingly opting for non-surgical treatment options, such as the use of orthopedic braces and supports, to manage their orthopedic conditions, which are driving the growth of the market. With greater awareness of the benefits of orthopedic braces and supports, patients are more willing to use them to manage their conditions, which are contributing to the growth of the market.

North America is anticipated to lead the global orthopaedic bracing and support systems market due to the rising adoption of orthopaedic bracing and support systems, increasing prevalence of osteoarthritis, and the growing geriatric population in this region. Europe is projected to have substantial market growth throughout the forecast period owing to the rising prevalence of osteoarthritis, and growing government initiatives in providing funds for research activities in the field of orthopaedic bracing and support systems. Asia Pacific is expected to witness growth with the highest CAGR during the forecast period due to the increasing patient pool of osteoarthritis, and growing awareness about the orthopaedic bracing and support systems among the people. On the other hand, South America and the Middle East and Africa are projected to have a lucrative growth in the orthopaedic bracing and support systems market in the upcoming years. Sports-related injuries are raising with the growing number of sports activities. Athletes are focused on fitness-related activities such as running, cycling, and others. While gaining health benefits through such activities, they are likely to sustain injuries, which can further lead to ligament injury. Indoor athletes are at high risk for ankle ligament tear. Hence, they are expected to generate substantial demand for ankle braces. In addition, ankle braces are recommended post an acute ankle sprain. Athletes also use orthopedic braces to protect themselves from further injury during sports activities. It helps them restrict unwanted movement during matches, thereby, facilitating a convenient play. On the other hand, arthritis is more prevalent among people who have chronic conditions such as diabetes, cardiovascular diseases (CVD), and obesity. Incidences of orthopedic disorders are projected to swell further over the years ahead with the rising prevalence of obesity and related lifestyle diseases, as obese people are at a higher risk of orthopedic and musculoskeletal injuries, as well as diabetes. Based on Product, the market is bifurcated into Ankle Braces and Supports, Foot Walkers and Orthoses, Hip, Back, and Spine Braces and Supports, Knee Braces and Supports, Shoulder Braces and Supports, and Elbow Braces and Supports. The Knee Brace and Supports are expected to account for the largest market share. The Knee braces are utilized as a follow-up treatment post-knee surgery related to injuries such as anterior cruciate ligament (ACL) rupture, sprained medial knee ligament, and patella tendonitis. The rise in the elderly population, favorable remuneration scenarios for knee braces in developed countries, and the rise in the number of sports injuries are the driving factors. The cost-effectiveness of these braces for several types of orthopedic complications such as sprains, fractures, and traumatic injuries, the increasing number of sports injuries and a growing aging population are among the primary factors that contribute to this segment's growth. The major challenge is finding the right fit or tailoring brace selection as per the age of a patient with morbidity, such as obesity or diabetes. In addition, long-term use of these ankle and foot braces causes gait disturbances, knee pain, and lower back pain. Thus, the growing prevalence of pain, trauma, fractures, and others in all areas of application and increasing product launches are contributing to the growth of the segment, which is expected to propel the market during the forecast period. Based on type, the orthopedic braces & supports market is segmented into hinged braces & supports, soft and elastic braces & supports, and hard braces & supports. The soft and elastic braces & supports segment is expected to account for the largest share of the global orthopedic braces & supports market in 2022. The large market share of this segment is attributed to the cost-effectiveness of soft and elastic braces & supports and flexibility and availability of various sizes and shapes compared to other types. On the basis of type, the soft and elastic braces and supports segment dominated the market in 2019, and is expected to continue this trend throughout the forecast period. The large share of this segment is attributed to the growing public awareness regarding OTC braces and support and increase in prevalence of orthopedic diseases & disorders. Based on the application, the orthopedic braces and supports market is segmented into preventive care, ligament injury, post-operative rehabilitation, osteoarthritis, compression therapy, and other applications. The ligament injury segment is expected to command the largest share of the market in 2022. The large share of this segment can be attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), the rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries. The healthcare industry is increasingly shifting towards more patient-centric and participatory health, and that is likely to drive several companies to incorporate connected on-demand and data-enabled patient engagement solutions. The shift towards participatory medicine is transforming the cornerstone of healthcare infrastructure, from a supply-side push of services to consumers to one where the pull of patient demand defines activity and value. Following this trend, market players such as DJO have developed X-ROM™ Post-Op Knee Brace. It is equipped with the most advanced range of motion (ROM) protection and better user-centric design for swifter and simpler adoption and adjustment, the X-ROM™ brace aids patients in recovering from ACL and other knee surgeries with better stability and convenience. Key players rethinking the next-gen care model with meaningful engagement in healthcare delivery including integration of patients’ care journey are witnessing greater returns.

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Manmayi Raval

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Covid-19 Impacts: The COVID-19 pandemic has impacted almost all business areas, especially the healthcare sector. Hospitals, clinics, and healthcare centers had to quickly adapt to the highest sterilization processes and defer elective treatment and surgical appointments to prevent patients from contracting. All non-emergency healthcare appointments were postponed or attended online; patients refrained from approaching hospitals and clinics due to the fear and anxiety of infection. Such changes in the healthcare sector negatively impacted orthopedic consultations and the growth of the orthopedic braces & supports market. Furthermore, restrictions on organized sports due to rising COVID-19 cases for a long time also negatively impacted the market. Nationwide lockdowns imposed by the governments globally restricted the accessibility to orthopedic clinics and hospitals. Hence, social distancing, lockdowns, limited access to non-essential services, and the slowdown in patient flow and referrals negatively impacted the market. However, this impact on the market was short-term as orthopedic braces & supports were made available on e-commerce websites with the rise in online consultations from orthopedic doctors. 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 Considered in this report • Geography: Global • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Aspects covered in this report • Global Orthopedic Braces & Supports market with its value and forecast along with its segments • Region-wise Orthopedic Braces & Supports market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions covered in the report: • North America • Europe • Asia-Pacific • South America • Middle-East & Africa 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.