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European Braces and Supports Market
Frost & Sullivan, Dec 2009, Pages: 91
This research service examines the European braces and supports market in terms of the challenges faced by market participants, drivers, and restraints in the industry, the revenue forecasts, growth rates, and strategic recommendations
This Frost & Sullivan research service titled European Braces and Supports Market provides a detailed financial analysis of the European braces and supports market that includes forecast market dynamics, geographic trends, product revenues, and industry trends. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: upper extremities braces and supports, spinal braces and supports and lower extremities braces and supports. The regions covered in this research service include Germany, France, the United Kingdom, Spain, Italy, Benelux, and Scandinavia.
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Aging Population Cohort Spurs the Demand for Braces, Driving Growth in the European Braces and Supports Market
Orthopaedic braces and supports help patients lead a normal life and reduce the rate of injury by immobilising a joint or body segment, restricting movement in a given direction, assisting movement, reducing weight-bearing forces or correcting the shape of the body. The demand for orthopaedic braces and supports varies according to the age of the population, lifestyle, diet, and underlying disease conditions. There has been constant growth in the aging population due to the baby boomer generation. Such changing demographics have heightened the need for braces, thereby increasing volume sales and market revenues of the European braces and supports market.
“The need for braces and supports in the aging population is expected to rise constantly despite initiatives such as the ‘bone and joint decade’ to reduce orthopaedic diseases in the future,” says the analyst of this research. “Furthermore, a rise in obese population has had its impact on the musculoskeletal health of the population, stepping-up the need for braces and supports.” Lifestyle related disorders, weakening skeletal systems and poor health have all advanced the wear and tear of the bones. There is a growing population of youth suffering from joint-related diseases such as arthritis, thereby driving the demand for braces and supports.
An Effective Distribution Channel – the Key to Success in this Market
The economic downturn and consequent decrease in purchasing power along with the ability to extend the use of existing products has adversely affected the market, especially for sophisticated products. “The economic slowdown has resulted in hospital tightening their budgets and a decline in reimbursement levels for braces and supports,” explains the analyst. “There has been a reduction in the patient population opting for these products, thus directly affecting the volume sales of the market.”
An effective distribution channel is the key to success in this market. If the market penetration is weak, companies need to re-consider the method of distribution being used. “Companies should evaluate the sale structures in place and draw up strategies, to improve the current distribution channels,” concludes the analyst. “These may include direct subsidiaries, greater personal selling or even developing an option for customers to buy the products online.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Product:
- Upper extremities braces and supports
- Spinal braces and supports
- Lower extremities braces and supports
By Region:
- Germany
- France
- The United Kingdom
- Spain
- Italy
- Benelux
- Scandinavia
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