New York, United States, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Scoliosis is an abnormal curve in the spine that makes a person hunch over when they stand or walk. Scoliosis braces are the most common way to treat this condition. “The global scoliosis braces market size is estimated to reach USD 306 million by 2030, growing at a CAGR of 4.5% during the forecast period (2022–2030),” says the Research Manager at Straits Research P. Ltd.
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Key Drivers
In scoliosis, the spine or backbone is curved to one side. Scoliosis is becoming more common all over the world, especially among children. Every year, more than 600,000 people are diagnosed with scoliosis and see private doctors for its treatment. Also, estimates show that about 30,000 children get braces every year. The National Scoliosis Foundation says that about 2%–3% of the US population, or about 6–9 million people, have scoliosis.
A trial study by the National Institutes of Health found that bracing can make it less likely for teens with idiopathic scoliosis to get worse and need surgery. It is also found that a brace is more likely to work if it is worn for more than 13 hours a day. Shriners Hospitals for Children, the Children's Miracle Network, the Canadian Institutes of Health Research, and the University of Rochester helped this study by offering the funds needed.
Growth Opportunities
Companies in this market are focusing on making new technologies to help people with scoliosis. Scoliosis braces are likely to improve as new technologies make them easier to adjust, thinner, lighter, and more breathable. Market players also use key strategies like acquisitions, mergers, distribution deals, and new products to improve their product lines and get a bigger market share.
In 2015, researchers at Beijing's Xiao Feng Spinal Deformity Studio and National Rehabilitation Aids Research Center made the first custom 3D-printed back brace in the country to treat scoliosis. Also, a new company called Exos wants to use 3D printing and 3D scans of the patient to make back braces more modern and unique. The potential for scoliosis braces is added to the company's capacity, which will lead to a lot of demand in the near future.
Regional Analysis
North America holds the highest share of the scoliosis braces market and is expected to grow at a CAGR of 4.8% during the forecast period. This can be explained by more surgeries, more people using branded support braces, more awareness and programs held by highly qualified and knowledgeable professionals, maximum reimbursement coverage, higher-quality care, the presence of top key manufacturers, and sophisticated healthcare infrastructure. Also, big economies like the US and Canada, known for being open to new technology, help the region be at the top of other regions that bring in the most money.
In terms of development and market capitalization opportunities, the APAC market is one of the most dynamic and fast-growing. Therefore, Asia-Pacific is expected to grow at a CAGR of 4.6% by 2030.
Since more people in Europe are learning to manage and treat scoliosis, the market for managing and treating scoliosis is expected to have more opportunities during the forecast period. Several governments and state programs in the European region that teach people about the disease and make them aware of it have helped raise awareness. For instance, the Scoliosis Association (UK) is the only group in the United Kingdom that allows people with scoliosis and their families.
Key Highlights
- Teenagers are the largest market shareholder and are expected to grow at a CAGR of 5.1% during the forecast period.
- Type-wise, the global scoliosis braces market is classified into Boston Brace, Charleston Bending Brace, and Gensingen Brace. Boston Brace is the best-selling and most-prescribed brace worldwide and is anticipated to grow at a CAGR of 4.8% during the forecasted period.
- The global scoliosis braces market is primarily divided across North America, Europe, Asia-Pacific, and LAMEA.
Competitive Analysis
The major players in the global scoliosis market are
- Boston Orthotics & Prosthetics
- Spinal Technology Inc.
- Chaneco
- Trulife
- Aspen Medical Products LLC
- Colfax Corporation
- BCP Group
- Horton's Orthotics & Prosthetics
- Ortholutions
Market News
- In May 2022, Spinal Technology Inc. partnered with Vorum Research Corporation to strengthen its business in the North American region.
- In March 2022, Aspen Medical Products LLC announced its new exclusive partnership venture with Stimwave.
- In January 2022, Boston Orthotics & Prosthetics launched its new hiring program for experienced Clinicians.
- In January 2022, Trulife partnered with allied Corporations to enter the US health and wellness market.
Global Scoliosis Braces Market: Segmentation
By Type
- Boston Brace
- Charleston Bending Brace
- Gensingen Brace
By Application
- Teenager
- Adult
- Children
By Regions
- North America
- Europe
- Asia-pacific
- LAMEA
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About Straits Research Pvt Ltd.
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