Orthopedic Braces Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4164
Orthopedic Braces Market size is projected to experience significant growth from 2019 to 2025.
Increasing geriatric population vulnerable to various chronic diseases such as osteoarthritis and osteoporosis coupled with the rising prevalence of diseases such as spondylitis will stimulate the orthopedic braces market over the coming years. According to the Arthritis Foundation, in 2015, about 30.8 million adults were suffering from osteoarthritis. Additionally, the rising prevalence of musculoskeletal disorders and diseases in developing countries will positively impact the orthopedic braces market growth. Increasing incidence of musculoskeletal condition will further spur the demand for orthopedic braces, further influencing market growth.
Increase in bone-degenerative disorders and obesity will further assist the market growth. According to the World Health Organization, the prevalence of musculoskeletal conditions increases with age and is largely impacted by factors such as obesity and sedentary lifestyle. As per Centers for Disease Control and Prevention, as of 2015, 93.3 million U.S adults were found obese. Furthermore, increasing participation in sports activities, especially among the youth, increasing the incidence of sports injuries will spur the demand for orthopedic braces over the coming years.
However, insufficient reimbursement policies for orthopedic braces, increasing preference for other treatment options, lack of customization for the orthopedic braces will negatively impact the market growth. On the other hand, increase in public awareness and rise in healthcare expenditure will provide numerous opportunities for orthopedic braces market growth in the near future.
Lower extremity braces and supports segment will hold a significant share in the product category. Robust growth is attributed to a rise in the number of orthopedic surgeries such as knee and spine surgeries. According to the Agency for Healthcare Research and Quality, approximately 600,000 knee surgeries are performed every year in the United States. In majority cases, knee pain is caused by osteoarthritis, rheumatoid arthritis, and post-traumatic arthritis. For instance, 54 million adults have arthritis or any other type of rheumatic disease, thus increasing the prevalence of musculoskeletal disorders in developing countries, thus positively impacting the segmental share.
Injury segment is anticipated to grow at a significant pace over the forecasted period due to increasing accidents worldwide and growing participation in sports-related activities. Anterior cruciate ligament injury is commonly observed ligament injury among the athletes. There are around 100,000 to 200,000 ACL injuries per year in the U.S. every year. Furthermore, favorable policies and initiatives to encourage the population for sports participation will boost injuries segment growth over the forthcoming years.
Demand for orthopedic braces in e-commerce will rapidly grow owing to strong supply chain management strategies maintained by e-commerce stores across major key players and initiatives such as discounts. Retail stores are expected to grow at a significant pace over the coming years due to easy access to product purchase. Furthermore, growing internet penetration, especially in emerging economies will expand the segmental size.
U.S. orthopedic braces market is forecast to witness significant growth owing to an increase in obesity and orthopedic diseases. According to the American Academy of Orthopedic Surgeons, approximately 126.6 million Americans are affected by a musculoskeletal condition every year. Increasing geriatric population in the country, susceptible to musculoskeletal deformities will further spur the demand for orthopedic braces. Additionally, high awareness and continuous advancements of orthopedic braces will aid the U.S. orthopedic braces industry growth in the foreseeable future.
Germany orthopedic braces market is expected to grow at a lucrative pace due to the high prevalence of orthopedic conditions and increasing incidence of bone degenerative disease. According to NIO (National Initiative against Osteoporosis), almost six million people are suffering from osteoporosis in Germany. Furthermore, favorable government initiatives such as the National Initiative against Osteoporosis launched in Germany to educate the people about osteoporosis will positively impact the growth.
Some of the major market players involved in the global orthopedic braces market are Breg, Inc., BSN Medical, Ossur, Bauerfeind, DJO Global, Inc. ad Zimmer Biomet among others. Companies are implementing business expansion strategies and acquisitions to increase their market footprint. For instance, in June 2015, Zimmer acquired Biomet. The acquisition complemented the product portfolio of Zimmer and broadened the geographical presence of Biomet.
Orthopedic Braces Market by Product, 2014-2025 (USD Million)
- Upper extremity braces and supports
- Shoulder braces and supports
- Elbow braces and supports
- Hand and wrist braces and supports
- Lower extremity braces and supports
- Ankle braces and supports
- Knee braces and supports
- Foot braces and supports
- Back, hip and spine braces and supports
Orthopedic Braces Market by Application, 2014-2025 (USD Million)
- Preventive Care
- Post-operative Rehabilitation
Orthopedic Braces Market by Distribution Channel, 2014-2025 (USD Million)
- Orthopedic Clinics
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- ALCARE Co., Ltd.
- Bird and Cronin
- Breg, Inc.
- BSN Medical
- DeRoyal Industries, Inc.
- DJO Global, Inc.
- Remington Products
- Zimmer Biomet
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability