Orthopedic Braces and Supports Market : Industry Development Scenario

The Orthopedic Braces and Supports Market market was valued at approximately USD 4,152 million in 2020. The market is expected to reach USD 5,692 million by 2026, registering a CAGR of nearly 5.4% during the forecast period.

In 2020, due to COVID-19, orthopedic surgeries have been delayed, which led to a decline in the consumption of orthopedic braces and supports. As per the data provided by the University of Birmingham, published in the British Journal of Surgery in May 2020, about 6.3 million orthopedic surgeries were postponed or canceled worldwide due to COVID-19. Along with that 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.

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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, leads to wide usage of braces, such as TLSO (Thoracic Lumbar Sacral Orthosis).

As per a December 2020, article ‘Vertebral Compression Fractures’, 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 the hip, forearm, and vertebral fractures are 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 commonly diagnosed forms of trauma, which are managed by orthopedic teams, globally. The long-term consequences and complications are significantly characterized by pain and disability, physical, psychological, and social factors into consideration. Stress fractures due to overuse and repetitive activity in the ankles and feet are very common among athletes, including running sports. The initial strategies include refraining from high-impact activities while returning quickly increases the risks of complete fractures.

The cost-effectiveness of these braces for several kinds 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 for 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 causes gait disturbances, knee pain, and low back pain.

From the initial period of the COVID-19 pandemic, private as well as public transport was stopped, which reduced road accidents and associated injuries. With that in healthcare facilities, the treatment was shifted from orthopedic procedures to COVID-19 patients, which affected the market growth.

North America is Expected to Dominate the Global Market

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 U.S. Department of Health and Human Services, 2018 reports an estimated 8.6 million sports injuries occur each year 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.

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Europe Orthopedic Braces and Supports Market is Grabbing New opportunities by International Key Players (3M, Thuasne USA, DJO Global) | Forecast to 2028

Europe Orthopedic Braces and Supports Market Synopsis:

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By keeping into the focus customer requirements, Orthopedic Braces and Supports Market document has been crafted by chewing over bountiful of Market parameters. This industry analysis report explains Market segmentation in the most-detailed pattern as well as conducts thorough analysis of patents and major Market players to present a competitive landscape. In today’s competitive Market place, businesses are always in struggle to look for better solutions in terms of product trends, future products, Marketing strategy, future events, actions or behaviors. With the comprehensive Orthopedic Braces and Supports report, it has been assured that an absolute knowledge and insights about the new regulatory environment which suits to their organization are provided.

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Europe Orthopedic Braces and Supports Market is expected to growing with a healthy CAGR of 5.5% in the forecast period of 2020 to 2027.

Some of the most significant key factors driving the growth of the Europe Orthopedic Braces and Supports Market are expanding prevalence orthopedic disorders with growing product commercialization, rising geriatric population, increasing sports injuries and rising awareness about preventive care.

Europe Orthopedic Braces and Supports Market Segmentation:

  • On the basis of Type, Europe orthopedic braces and supports market is segmented into soft &elastic braces, hinged braces, and hard braces.
  • On the basis of Product, Europe orthopedic braces and supports market is segmented into ankle braces and supports, foot walkers and orthses, hip, back, & spine braces and supports, knee braces and supports, shoulder braces and supports, elbow braces and supports, hand/wrist braces and supports, and facial braces and supports.
  • Based on the Application, Europe orthopedic braces and supports market is segmented into preventive care, ligament injury, post operative rehabilitation, osteoarthritis, compression therapy, and others.

Regional analysis, Germany is expected to dominate the market share in coming years due to high amount of investment and government initiatives toward improvement in healthcare infrastructure whereas availability of skilled professionals and growing cases of orthopaedic disorder with advancement in therapies and other treatments will boost market growth during forecast period.

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Top Key Players:

  1. Bauerfeind
  3. Medi GmbH & Co. KG
  4. BSN Medical
  5. Thuasne USA
  6. 3M
  7. Zimmer Biomet Holdings, Inc
  8. DJO Global, Inc
  9. Ossur Corporate
  10. De Royal Industries Inc
  11. Alcare Diagnostic Research Center Pvt. Ltd

Report contents include

1 Analysis of the Orthopedic Braces and Supports Market including revenues, future growth, market outlook
2 Historical data and forecast
3 Regional analysis including growth estimates
4 Analyses the end user markets including growth estimates
5 Profiles on Orthopedic Braces and Supports including products, sales/revenues, and market position
6 Orthopedic Braces and Supports Market structure, market drivers and restraints

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Europe Orthopedic Braces and Supports Market: Table of Contents

1 Report Overview 2021-2027

2 Europe Growth Trends 2021-2027

3 Competition Landscape by Key Players

4 Europe Orthopedic Braces and Supports Market Analysis by Regions

5 Europe Orthopedic Braces and Supports Market Analysis by Type

6 Europe Orthopedic Braces and Supports Market Analysis by Applications

7 Europe Orthopedic Braces and Supports Market Analysis by End-User

8 Key Companies Profiled

9 Europe Orthopedic Braces and Supports Market Manufacturers Cost Analysis

10 Marketing Channel, Distributors, and Customers

11 Market Dynamics

12 Europe Orthopedic Braces and Supports Market Forecasts 2021-2027

13 Research Findings and Conclusion

14 Methodology and Data Source

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