Redding, California, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Orthopedic Braces & Supports Market by Product (Knee, Shoulder, Ankle, Spine, Hand, Neck), Type (Soft, Hinged & Hard), Application (ACL, LCL, Osteoarthritis, Preventive Care), Distribution Channel (E-commerce, Hospital, Pharmacy)—Global Forecast to 2029.’ published by Meticulous Research®, the global orthopedic braces & supports market is expected to register a CAGR of 4.2% from 2020 to 2029 to reach $4.44 billion by 2029.
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Braces & supports are used for therapeutic and preventive uses. The therapeutic uses constitute supportive aid for the treatment after recovery from orthopedic illnesses. In preventive care, braces & supports are used to provide support while walking, exercising, or playing sports. These braces & supports are also used to reduce occupational injuries and can be used around the elbow, ankle, knee, or wrist. They help guide joint movements, decrease weight around the painful areas of the joints, improve stability, and limit tendon/muscular contraction at a specific site.
Depending on the severity and type of injury, braces & supports play an important role in recovery and rehabilitation. Additionally, sports supports and orthopedic braces are used widely for knee ligament injuries during sports and ankle sprains. They provide compression, joint stability, and support and help in alleviating joint pain and arthritis.
The main products of braces & supports are knee braces and supports, foot walkers and orthoses, and back, hip, and spine braces and supports. The braces and supports are of different types, namely, soft & elastic braces and supports, hard & rigid braces and supports & hinged braces & supports.
Impact of COVID-19 on the Orthopedic Braces and Supports Market
The COVID-19 pandemic negatively affected the global orthopedic braces & supports market. The pandemic resulted in a decline in elective surgeries and the postponement of organized sports. Additionally, patients’ unwillingness to go to clinics due to fear of contracting COVID-19 and deferral surgeries for both major and minor injuries have negatively impacted the market's growth.
Nationwide lockdowns in the countries of Asia-Pacific and Europe, the major suppliers of raw materials, led to a global manufacturing slowdown. The impact on the market was seen for a shorter period as a steady recovery was observed during the latter part of the pandemic.
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The global orthopedic braces and supports market is segmented by product (knee braces & supports, ankle braces & supports, foot walkers & orthoses, back, hip, and spine braces & supports, neck and cervical braces & supports, shoulder braces & supports, elbow braces & supports, hand and wrist braces & supports, facial braces & supports), by type (soft and elastic braces & supports, hinged braces & supports, hard and rigid braces & supports), by application (ligament injury {anterior cruciate ligament injury, lateral collateral ligament injury}, preventive care, post-operative rehabilitation, osteoarthritis, compression therapy, other applications), by distribution channel (orthopedic clinics, hospitals and surgical centers, pharmacies and retailers, e-commerce platforms, other distribution channels), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
Based on product, the knee braces & supports segment is expected to account for the largest share of the global orthopedic braces & supports market in 2022. The large market share of this segment is attributed to the high prevalence of orthopedic injuries and the growing use of braces & supports as preventive care. Knee braces help prevent athletes' injuries, provide arthritic support, prevent swelling, and give possible support during exercise to protect the knee from wear and tear.
Based on type, the soft and elastic braces & supports segment is expected to account for the largest share of the global orthopedic braces & supports market in 2022. The large market share of this segment is attributed to the flexibility and use of soft and elastic braces & supports during regular work, low product cost compared to hard braces, improved mobility and reduced pain, and improved muscle activity.
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Based on application, the ligament injury segment is expected to account for the largest share of the global orthopedic braces & supports market in 2022. The large market share of this segment is attributed to the high number of accidents leading to ligament fractures, increasing youth participation in sports and athletic activities, and the rise in the cases of diabetes and obesity leading to the risk of osteoarthritis.
Based on distribution channel, the pharmacies and retailers’ segment is expected to account for the largest share of the global orthopedic braces & supports market in 2022. The large market share of this segment is attributed to the convenience and product range offered by pharmacies and retailers, awareness about the orthopedic braces and supports, and easy access to retailers.
Based on geography, North America is expected to account for the largest share of the global orthopedic braces & supports market in 2022, followed by Europe. However, Asia-Pacific is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the growing geriatric population, increasing cases of ligament injuries, government initiatives to manufacture products domestically, such as the Made in China 2025 initiative, and rising cases of diabetes, further increasing the risk of osteoarthritis.
The report also includes an extensive assessment of the key strategic developments of leading market participants in the industry over the past years. In recent years, the global orthopedic braces & supports market has witnessed product launches, collaborations, agreements, and expansions.
The key players operating in the global orthopedic braces and supports market are Bauerfeind AG (Germany), Zimmer Biomet Holdings, Inc. (U.S.), 3M Company (U.S.), Össur hf. (Iceland), Breg, Inc. (U.S.), Enovis Corporation (U.S.), Bird & Cronin, LLC (U.S.), DeRoyal Industries, Inc. (U.S.), Essity Aktiebolag (publ) (Sweden), and Ottobock SE & Co. KGaA (Germany).
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Scope of the Report:
Orthopedic Braces & Supports Market, by Product
- Knee Braces & Supports
- Ankle Braces & Supports
- Foot Walkers & Orthoses
- Back, Hip, and Spine Braces & Supports
- Neck and Cervical Braces & Supports
- Shoulder Braces & Supports
- Elbow Braces & Supports
- Hand and Wrist Braces & Supports
- Facial Braces & Supports
Orthopedic Braces & Supports Market, by Type
- Soft and Elastic Braces & supports
- Hinged Braces & Supports
- Hard and Rigid Braces & Supports
Orthopedic Braces & Supports Market, by Application
- Ligament Injury
- Anterior Cruciate Ligament Injury
- Lateral Collateral Ligament Injury
- Preventive Care
- Post-operative Rehabilitation
- Osteoarthritis
- Compression Therapy
- Other Applications
Note: Other applications include musculoskeletal disorders, carpal tunnel syndrome, and occupational injuries
Orthopedic Braces & Supports Market, by Distribution Channel
- Orthopedic Clinics
- Hospitals
- Pharmacies & Retailers
- E-commerce Platforms
- Other Distribution Channels
Note: Other distribution channels include physiotherapy clinics and surgery centers
Orthopedic Braces & Supports Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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