Knee Braces Market – By Product, By Application, By End Use, & Global Forecast, 2024 – 2032
Report ID: GMI4238
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Published Date: October 2024
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 18
Tables & Figures: 163
Countries covered: 21
Pages: 130
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Knee Braces Market Size
The global knee braces market was valued at around USD 929.9 million in 2023 and is expected to reach around USD 1.5 billion by 2032 at a CAGR of 5.3% during the forecast period. The growing prevalence of osteoarthritis, increasing target population, and the launch of affordable, easy-to-wear braces are driving market growth.
Additionally, the rise in sports-related injuries further supports this trend. According to Stanford Children's Health, 3.5 million children under 14 suffer sports injuries annually, with knee injuries accounting for 9%. The increase in sports participation, particularly among children, has led to a fivefold rise in ACL injuries, fueling demand for preventive and functional knee braces.
Chronic conditions such as obesity, diabetes, and heart disease exacerbate osteoarthritis, increasing the need for knee braces. The CDC reports that 27.7% of arthritis patients are obese, 33.7% are diabetic, and 36.4% have heart conditions. The market responds with personalized braces for arthritis sufferers. Rising awareness of osteoarthritis pain, alongside support from agencies like Medicare and Medicaid, which reimburse up to 80% for knee braces, boosts product adoption.
With the WHO identifying osteoarthritis as a major global health issue and the post-operative complications of Total Knee Replacement (TKR) surgeries leading patients to opt for braces, the market is expected to grow significantly in the coming years.
A knee brace is a medical device designed to provide support, stability, and protection to the knee joint. It is commonly used to prevent injuries during physical activities, aid in the recovery process after an injury or surgery and manage chronic conditions like osteoarthritis. Knee braces come in various forms, including functional, prophylactic, and rehabilitative types, offering compression, alignment, and control of knee movement to alleviate pain and enhance mobility.
Knee Braces Market Trends
Technological advancements in knee braces have significantly contributed to market growth by improving the efficacy, comfort, and convenience of these devices. Innovations have led to the development of knee braces that are more effective in providing support and pain relief, thereby attracting a broader user base. Innovations in materials, customization, smart technologies, and design improvements are making knee braces more effective and appealing to a wider range of users, from athletes to elderly patients with chronic conditions. These advancements not only enhance the functionality and comfort of knee braces but also drive higher adoption rates and market expansion.
Knee Braces Market Analysis
Based on product, the market is categorized into functional knee braces, prophylactic knee braces, unloader knee braces and rehabilitative knee braces. The functional knee braces segment dominated the market with a revenue of around USD 385.2 million in 2023.
Based on application, the knee braces market is categorized into sports-use, ligament, and other applications. The sports-use segment dominated the market with a revenue of around USD 422.5 million in 2023.
Based on end-use, the knee braces market is categorized into hospitals, orthopedic clinics, and other end users. The hospitals segment held majority market share in the market with a revenue of around USD 400.4 million in 2023.
North America knee braces market accounted for USD 363.7 million in revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
Knee Braces Market Share
The knee braces industry is fragmented in nature, with various large multinationals and small and mid-sized companies competing in the industry. The players are constantly involved in strategic initiatives such as, new product launch, technological advancements, regional expansion, and mergers and acquisitions to gain deeper penetration.
For instance, in January 2019 Leatt Corporation launched new Z- frame knee braces for contact sports. In February 2019, Breg, Inc. launched Breg Quantum OA for mild to severe osteoarthritis to address the need for pain management in arthritic patients. This emphasis on innovation aims to address evolving patient needs and enhance patient outcomes, positioning companies to gain market share and meet the growing demand for advanced portable medical devices.
Knee Braces Market Companies
Some of the eminent market participants operating in the knee braces industry include:
Knee Braces Industry News:
Knee braces market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in (USD Million) and volume (Units) from 2021 to 2032 for the following segments:
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Market, By Product
Market, By Application
Market, By End Use
The above information is provided for the following regions and countries: