Orthopedic Braces & Supports Market to Grow at 5.3% CAGR to Hit USD 5,429.3 Million by 2025 - Impact of COVID-19 Pandemic and Global Analysis by The Insight Partners
According to a new market research study titled ‘Orthopedic Braces and Supports Market to 2025 – Global Analysis and Forecasts by product and application. The global orthopedic braces and supports market is estimated to account for US$ 5,429.3 Mn by 2025 as compared to US$ 3,631.2 Mn in 2017, growing at a CAGR of 5.3s% during the forecast period from 2018 to 2025. The report highlights the trends prevalent in the global orthopedic braces and supports market and the factors driving the market
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Globally people around the world strive for the better health and do not comprise with the low quality of the products. The high quality of the product are being preferred by the people, also these products are reimbursed. The high quality products are generally preferred by the sports players who uses braces for the preventive care and for the sport injuries. On the other hand the demand from the sports celebrities creates the opportunities for the market players to produce more braces and supports with upgraded features. The prosthetic braces which include the robotic limbs are preferred more by the athletes and patients who have amputated their limbs due to some reasons. Therefore, the rise in the sport injuries have major role to play in increasing the revenue.
The future trend for the orthopedic braces and supports are likely to grow dramatically due to increasing e-commerce platform that provides the braces and it accessories at the doorstep of the customer. The availability of the braces has become easy and convenient for the patients to buy without going out doors. Moreover, the innovative products, revolutionary technology and successful events created opportunities for the companies to continue the production of the orthopedic braces and supports. Thus, companies manufacturing the braces are likely to add the value to their customers and attract more customer base for their product. Therefore, considering the factors the current trends are estimated to be the future trends as well and are likely to propel the growth of the market in the coming forecast period.
The application segment of the orthopedic braces and supports market is segmented as into ligament injury, osteoarthritis, preventive care, cold bracing and others. In 2017, ligament injury segment held the largest share of 31.3% of the market. In addition, the segment is expected to dominate during the coming years owing to the rising incidences of the ligament injuries across the world. Likewise, the osteoarthritis segment is expected to be the fastest growing application segment for the orthopedic braces and supports market. The overall application segment market was valued at US$ 3,631.2 Mn in 2017 and is anticipated to grow significantly in the forecast period.
The top 10 industry players operating in the market of orthopedic braces and supports across the globe includes DJO Global, Zimmer Biomet, Ossur Corporate, 3M, Breg Inc., Bauerfeind, BSN medical, DeRoyal Industries, Inc., Thuasne, ALCARE Co.Ltd, and Ottobock.
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The report segments the global orthopedic braces and supports market as follows:
Global Orthopedic Braces and Supports Market – By Product
- Knee
- Back & Hip
- Shoulder
- Elbow
- Foot and Ankle
- Spine
Global Orthopedic Braces and Supports Market – By Application
- Ligament Injury
- Osteoarthritis
- Preventive Care
- Cold Bracing
- Others
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