Orthopedic Braces and Supports Market by Application and Geography - Forecast and Analysis 2019-2023

Published: Jul 2019
Pages: 121
SKU: IRTNTR31608

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Industry Insights

The global orthopedic braces and supports market size will grow by USD 1.16 billion during 2019-2023 at over 5% CAGR. The increasing cases of arthritis and the emergence of 3D printing are a few factors that are expected to drive market growth in the coming years. The report provides a detailed analysis of the market by application (knee, upper extremity, neck and spine, foot and ankle, and exoskeleton) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Bauerfeind AG, Breg Inc., DeRoyal Industries Inc., DJO Global Inc., and Össur hf.

Orthopedic braces and supports are used to rectify musculoskeletal issues. They are used to heal the existing injuries and trauma and are also significantly used by sportsmen to prevent strain on muscles and joints. These braces and supports are used to secure and heal the knee, upper extremity, neck and spine, foot and ankle, and exoskeleton.

Key Insights from Orthopedic Braces and Supports Market – Global Forecast 2019-2023

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The increasing cases of arthritis is one of the key factors contributing to the growth of the orthopedic braces and support market. A significant proportion of the population in the US and Canada were diagnosed with some form of arthritis in 2017. The number of people with the condition is expected to grow exponentially by 2040. This will subsequently fuel the need for treatment options such as orthopedic braces and supports, driving the growth of the global market.

The pain and immobility associated with arthritis prevent patients from performing their daily tasks seamlessly. Most of the arthritis forms are chronic, and there is no permanent cure available. Therefore, orthopedic braces and supports are recommended for long-term management of the condition. These braces and support systems reduce pressure on affected joints and provide support to rebuild strength in them. The rising incidence of arthritis and the benefits of using orthopedic braces & supports to manage the condition will further improve the growth opportunities for the vendors of the market in the coming years.

The emergence of 3D printing to prototype orthopedic braces and supports is one of the key trends contributing to the growth of the market. Orthopedic specialists are using 3D printing to make customized braces and supports to suit the body type and bone structure of the patient. The comfort and improved support offered by these customized supportive frames are increasing their demand. As a result, 3D printing vendors are venturing into the global orthopedic braces & supports market. The prevailing use of technology will support the growth of the market in the coming years. As a result of these factors, the market will register over 5% CAGR during 2019-2023.

Industry Analysis

Quantitative Data

Market size for 2018
Market forecast for 2019 to 2023
Regional market opportunities
Market segment opportunities
Growth momentum: Overall market and individual market segments
Market condition: 2018
Market segmentation based on application: Knee, upper extremity, neck and spine, foot and ankle, and exoskeleton
Market size, market forecast, and growth momentum
Market size and forecast in the APAC, Europe, MEA, North America, and South America
Market forecasts for key countries