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Orthopedic Braces and Supports Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • ID: 4591664
  • Report
  • April 2021
  • Region: Global
  • 120 Pages
  • Mordor Intelligence
The orthopedic braces and supports market is expected to register a CAGR of 5.4% during the forecast period.

Due to COVID-19, orthopedic surgeries had been delayed in 2020, which led to a decline in the consumption of orthopedic braces and supports. About 6.3 million orthopedic surgeries were postponed or canceled worldwide due to COVID-19, as per the data provided published in the British Journal of Surgery in May 2020 by the University of Birmingham. in a few regions, the orthopedic and small hospitals were shut down, or their operations had been limited, and other hospitals were being converted to containment facilities and treatment wards for COVID-19 patients, which is expected to impact the studied market.

The bone fracture of any form often leads to using of orthopedic braces and support systems to develop the immobilization of the patient’s fractured part. Fractures, such as osteoporotic vertebral fracture, which is among the most severe forms of osteoporotic fractures, lead to wide usage of braces, such as TLSO (Thoracic Lumbar Sacral Orthosis).

As per the article entitled 'Vertebral Compression Fractures' published in December 2020, approximately 1 to 1.5 million Vertebral Compression Fractures (VCF) occur annually in the United States alone. Based on the age and sex-adjusted incidence, it is estimated that 25% of women 50 years of age and older have at least one VCF. In addition, the lifetime risk for hip, forearm, and vertebral fractures is reaching clinical attention about 40% globally, which has an equivalent risk compared to cardiovascular disease.

In developed markets, the increasing disposable income and better adoption rate of new technologies in the hospitals and orthopedic centers are leading to early diagnosis and demand for orthopedic braces and support systems, thus, becoming one of the primary driving factors for this market.

Key Market Trends


Ankle and Foot Braces are Expected to Witness Healthy Growth Over the Forecast Period


Ankle and foot fractures are among the most diagnosed forms of trauma, which are managed by orthopedic teams, globally. The long-term effects are significantly characterized by pain and disability, physical, psychological, and social factors into consideration. Stress fractures are caused due to overuse and repetitive activity in the ankles and feet are very common among athletes. Hence, it increases the use of these ankle and foot braces boosting the growth of the segment which positively affects the studied market growth.

The cost-effectiveness of these braces for several types of orthopedic complications such as sprains, fractures, and traumatic injuries, along with increasing sports injuries and a growing aging population, are among the primary factors that contribute to driving this segment growth. The major challenge associated is finding the right fit or tailoring brace selection, as per the age of a patient with another morbidity, such as obesity or diabetes. In addition, long-term use of these ankle and foot braces causes gait disturbances, knee pain, and low back pain.

However, the increasing efforts undertaken by major market players to develop technologically advanced products may contribute to the studied market’s growth. For instance, in July 2020, Thuasne launched ActionReliever, an arthritis knee brace. It is a cost-effective solution that can bridge or delay surgery for patients with noncompartmental knee arthritis. Additionally, in June 2020, DJO, one of the global providers, introduced the new DonJoy X-ROM Post-Op Knee Brace, which helps patients recover from Anterior Cruciate Ligament (ACL) repair and other knee surgeries with improved confidence, comfort, and stability. Furthermore, in December 2020, a new Ankle Brace, the Ankle Defence, with an enhanced level of support was launched by Thermoskin, a leading brand in injury prevention and rehabilitation support in Australia.

Thus, the growing prevalence of pain, trauma, fractures, and others in all areas of application and increasing product launches is contributing to the growth of the segment and is expected to propel the studied market growth during the forecast period.

North America is Expected to Dominate the Global Market Over the Forecast Period


North America is one of the major contributors in the studied market, owing to the rise in Musculoskeletal Disorders and growing cases of sports-related injuries in the region. Data from the National Center for Injury Prevention and Control, Centre for Disease Control and Prevention (CDC) shows that 22,887,137 patients were estimated who reported to the emergency Department for Non-fatal injuries in 2020 in the United States.

Furthermore, the growing geriatric population is another factor attributing to the growth of the Orthopedic Braces and Supports Market. As per the world population aging report, in the United States, the number of people above 65 years of age is projected to reach 84,813 thousand by 2030, from 53,340 thousand in 2019, and the 65-and-older age group’s share in the total population may rise from 16.2% in 2019 to 22.4%, by 2050. As this population is more prone to pain, arthritis, joint pain, and other non-fatal pain and injuries, this is expected to drive the growth of the studied market in the region.

The major players are shifting toward the adoption of 3D printing capabilities while partnering with specialty technology companies, and further, merger and acquisition possibilities are likely to expand globally. The region has several small and medium-sized manufacturers in orthopedics, along with startups, which are attracting global players to invest in the United States orthopedic braces and support market. Therefore, owing to these factors, the United States is believed to have a significant share in the market studied over forecast period among all the other countries in the region.

Competitive Landscape


The market studied is moderately competitive and consists mostly of international companies. The key players in this market are focusing on new product launches and implementing strategies, such as mergers and acquisitions, which will help the companies to expand across various geographies. With the increasing technological advancements in the devices, it is believed that few innovation companies will be entering the market over the future and hold a substantial share. Some of the market players are Essity Medical Solutions (BSN medical), 3M, DJO, LLC, Ossur, OTTOBOCK, Zimmer Biomet, Bauerfeind, ALCARE Co., Ltd, Becker Orthopedic, Frank Stubbs Company Inc., Bird & Cronin, LLC, DeRoyal Industries, Inc, Medi GmbH & Co. KG among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


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Note: Product cover images may vary from those shown

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Bone Facture Cases
4.2.2 Rise in Musculoskeletal Disorders
4.2.3 Growing Number of Road Accidents and Sport-related Injuries
4.3 Market Restraints
4.3.1 Negligence Toward Minor Injuries
4.3.2 Lack of Awareness Regarding the New Orthopedic Braces and Support
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Lower Extremity Braces and Supports
5.1.1.1 Ankle and Foot
5.1.1.2 Hip
5.1.1.3 Knee
5.1.2 Spinal Braces and Supports
5.1.3 Upper Extremity Braces and Supports
5.1.3.1 Elbow
5.1.3.2 Hand and Wrist
5.1.3.3 Others
5.2 By End User
5.2.1 Hospitals
5.2.2 Orthopedic Centers
5.2.3 Other End Users
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Essity Medical Solutions (BSN medical)
6.2 3M
6.3 DJO, LLC
6.4 Ossur
6.5 OTTOBOCK
6.6 Zimmer Biomet
6.7 Bauerfeind
6.8 ALCARE Co., Ltd
6.9 Becker Orthopedic
6.10 Frank Stubbs Company Inc.
6.11 Bird & Cronin, LLC
6.12 DeRoyal Industries, Inc
6.13 Medi GmbH & Co. KG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown

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