Knee Braces Market Analysis

Knee Braces Market Analysis

The functional knee braces market held a dominant share and is anticipated to expand at 3.9% growth rate during 2023-2032 owing to several clinical benefits offered by the product in diagnosis and treatment of knee injuries and rehabilitative procedures after total knee replacement surgeries. Functional knee braces are often used in sports and physical activities as a preventive measure against knee injuries. These braces play a vital role in the rehabilitation process after knee surgery, such as ACL reconstruction. Thus, abovementioned factors are projected to fuel the industry growth during the forecast period.
 

The sport use segment ruled the industry revenue worth USD 799.4 million in 2022. This high segmental returns is due to increasing demand for knee braces in sports and athletics. Knee braces, such as prophylactic braces, are used as a preventive measure to reduce the risk of ligamentous injuries, such as ACL (anterior cruciate ligament) tears, MCL (medial collateral ligament) sprains, and meniscus injuries. However, athletes recovering from knee injuries often use knee braces during the rehabilitation process to aid in the recovery and facilitate a safe return to sports activities. The increasing product requirement in sports use reflects the growing emphasis on injury prevention, performance optimization, and rehabilitation, thereby influencing the market outlook.
 

Hospital sector captured 43% of the knee braces market share in 2022 and is projected to grow at a robust pace by 2032 attributed to the increasing product usage in hospitals, that are said to promote patient preference for hospitals. Increasing hospitalizations due to orthopedic procedures and knee injuries will further foster the business development. Increasing prevalence of orthopedic disorders in line with the availability of highly skilled healthcare professionals are some other characteristics that are propelling the growth of the hospitals segment positively.
 

In addition, the robust healthcare infrastructure and appropriate patient assistance is expected to positively impact the market growth. Thus, accessibility to better treatment & diagnosis and the rising prevalence of these ailments will bolster patient visits to hospitals, thereby propelling the segmental revenue.
 

North America knee braces market held a dominating share and is poised to attain 4.2% gains between 2023 and 2032. This high market share may be ascribed to a variety of factors, including the presence of significant industry players, an increase in the number of patients suffering from orthopedic and knee disorders, an expanding elderly population, among others. For instance, according to the National Safety Council data, in 2021, around 3.2 million people in the U.S. were treated in emergency departments for injuries involving sports and recreational equipment. This high incidence rate is leading to increased demand for knee braces.
 

Aging population has resulted in developing knee-related conditions such as osteoarthritis. Growing emphasis on fitness and wellness in North America, with individuals seeking ways to maintain an active and healthy lifestyle will augment the market growth. Presence of prominent participants are engaged in new product development & commercialization leading to overall business progression. Therefore, developing healthcare infrastructure, government initiatives and increasing hospital fundings, etc. are facilitating the regional industry expansion.