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Orthopedic braces and support systems are the medical devices that are designed to address muscoskeleton issues. They are used to properly align, correct the position, support, stabilize, and protect certain parts of the body, particularly muscles, bones, and joints as they heal from any injury or trauma. Many specialized healthcare fields use orthopedic braces, including those concerned with rehabilitating and preventing injuries, post-operative care, osteoarthritis care, and more. Rising incidences of osteoarthritis, growing geriatric population, increasing sport-related injuries, and a number of product launches by the key market players in this field are some of the factors that are expected to drive the market growth during the forecast period. For instance, according to an article published by the National Center for Biotechnology Information, osteoarthritis is the most common joint disorder in the United States and occurs in 10% men and 13% women aged 60 years or older.
Key Market Driver -
Rising incidences of osteoarthritis, growing geriatric population
Key Market Restraint -
Unclear reimbursement and regulatory scenario
Rising incidences of osteoarthritis, growing geriatric population, increasing sport-related injuries, and a number of product launches by the key market players in this field are some of the factors that are driving the market growth.
However, the unclear reimbursement and regulatory scenario are likely to decline the growth of the orthopedic bracing and support systems market.
By product type, the market can be segmented knee braces, ankle braces and supports, back braces and supports, walker boots, pain management products, and upper extremity braces and supports. By knee braces, the market can be further segmented into post operational knee braces and knee braces and supports. By upper extremity braces and supports, the market can be further segmented into wrist braces and supports, elbow braces and supports, and others. By application, the market can be segmented into ligament injury, preventive care, post-operative rehabilitation, osteoarthritis, and others. By end users, the market can be segmented into hospitals, clinics, and others.
Geographically, the orthopedic bracing and support systems market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The major companies in the global orthopedic bracing and support systems market report includes DeRoyal Industries, Inc., Zimmer Biomet, Bauerfeind, ALCARE Co., Ltd., Össur Corporate, Breg, Inc., BSN medical, Inc., and other prominent players.
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The global orthopaedic bracing and support systems market is expected to be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to lead the global orthopaedic bracing and support systems market due to the rising adoption of orthopaedic bracing and support systems, increasing prevalence of osteoarthritis, and the growing geriatric population in this region. For instance, according to the Population Reference Bureau., the number of Americans aged 65 and above is projected to nearly double from 52 million in 2018 to 95 million in 2060. Europe is projected to have substantial market growth throughout the forecast period owing to the rising prevalence of osteoarthritis, and growing government initiatives in providing funds for research activities in the field of orthopaedic bracing and support systems. Asia Pacific is expected to witness growth with the highest CAGR during the forecast period due to the increasing patient pool of osteoarthritis, and growing awareness about the orthopaedic bracing and support systems among the people. On the other hand, Latin America and the Middle East and Africa is projected to have a lucrative growth in the orthopaedic bracing and support systems market in the upcoming years.
By Product Type
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