Dublin, June 27, 2023 (GLOBE NEWSWIRE) -- The "Orthopedic Braces & Support, Casting and Splints: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Orthopedic Braces & Support, Casting and Splints Market to Reach $10.1 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Orthopedic Braces & Support, Casting and Splints estimated at US$6.2 Billion in the year 2022, is projected to reach a revised size of US$10.1 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2022-2030.
Orthopedic Braces & Supports, one of the segments analyzed in the report, is projected to record a 6.4% CAGR and reach US$5.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Casting Supplies & Equipment segment is readjusted to a revised 6.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2 Billion, While China is Forecast to Grow at 8.2% CAGR
The Orthopedic Braces & Support, Casting and Splints market in the U.S. is estimated at US$2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 5.1% respectively over the 2022-2030 period.
Within Europe, Germany is forecast to grow at approximately 5.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2030.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 499 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $6.2 Billion |
| Forecasted Market Value (USD) by 2030 | $10.1 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
MARKET OVERVIEW
- Orthopedic Braces & Support, Casting and Splints - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- COVID 19 Immobilizes Orthopedic Patients
- Impact of COVID-19 on Orthopedic Braces & Support, Casting and Splints
- Global Market Prospects and Outlook
- Global Orthopedic Braces & Support, Casting and Splints Market Set to Witness Robust Growth
- The US Corners Largest Market Share Globally
- Percentage of Adults in the US with Arthritis in 2019, by Gender for Select States
- Developing Regions Exhibit the Fastest Growth
- Segment Analysis
- Orthopedic Braces & Support Account for a Major Share
- Types of Orthopedic Braces and Supports and Application Areas
- Orthopedic Casting and Splinting Segment Also to Show Rapid Growth
- Competitive Landscape
- Orthopedic Braces and Support Devices
- Orthopedic Casting and Splinting Segment
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Aging Population and the Associated Orthopedic Disorders Drive the Demand for Orthopedic Braces & Support, Casting and Splints Market
- Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions
- Rise in Healthcare Expenditure to Drive Growth
- Rising Incidence of Musculoskeletal Disorders - A Key Propeller of Orthopedic Braces, Casting and Splints Market
- Select Musculoskeletal Conditions - Percentage Breakdown by Age Group
- Rising Incidents of Sports Injuries Stirs Demand for Orthopedic Braces
- Increase in Number of Fractures and Rise in incidence of Delayed Union & Nonunion Bone Fractures Elevates Demand for & Support, Casting and Splints
- Growing Incidence of Osteoporosis Drives the Orthopedic Braces Market
- Osteoporosis and Other Bone Related Health Concerns: Factsheet
- Global Osteoporosis Prevalence by Country/Region (2012 & 2022P)
- % of Women Affected by Osteoporosis
- Orthopedic Braces & Support, Casting and Splints Find Increasing Demand in Treatment of Osteoarthritis and Rheumatoid Arthritis
- Orthopedic Braces Find Increasing Usage in Spinal Fusion
- US Spinal Fusion Surgery Market: Percentage Breakdown of Procedure Volume by Age Group
- Epidemic Proportion of Obesity Fuels the Demand for Orthopedic Braces & Support, Casting and Splints
- Key Contributing Categories
- Knee Braces
- Compression Knee Sleeves
- Back Braces
- Back Support & Abdominal Binders
- Technological Advancements Drive Market Growth
- Greater Affordability of the Orthopedic Braces to Spur Market Expansion
- Online and Retail Channels for Orthopedic Braces Witness Increased Popularity
- Limited Availability of Curated Orthopedic Braces and Support - A Concern
FOCUS ON SELECT PLAYERS(Total 146 Featured)
- 3M Company
- Bauerfeind AG
- Becker Orthopedic
- Bird & Cronin, LLC
- Breg, Inc.
- DeRoyal Industries, Inc.
- DJO, LLC
- Medi GmbH & Co. KG
- Orfit Industries N.V.
- Ossur Hf
- Ottobock SE & Co. KGaA
- Prime Medical, Inc.
- Spencer Italia S.r.l.
- Stryker Corporation
- Trulife
For more information about this report visit https://www.researchandmarkets.com/r/i20dxo
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
