Acumen Research and Consulting, Recently Published Report Titled “Orthopedic Braces and Supports Market Size, Share, Growth, Trends and Forecast, 2019 - 2026”.
LOS ANGELES, June 10, 2019 (GLOBE NEWSWIRE) -- The Global Orthopedic Braces and Supports Market is estimated to grow at CAGR above 6.2 % over the forecast time frame and reach the market value around USD 7.7 billion by 2026.
Knee, back and ankle, elbow, neck, hip, wrist and finger joints are instruments that reinforce and help your muscles and joints. These are used for regulating limb and joint motion and for correcting structural defects. These braces are mechanically robust and can help relieve pain from strain, sprain and other musculoskeletal disorders. Braces include osteoarthritis, therapy and avoidance of wounds, and postoperative therapy.
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During the forecast period it is expected to record a CAGR of 6.4 percent. The increased incidence of chronic conditions such as arthritis and arthritis rheumatoid has caused the market to increase. The products limit mobility to a certain direction, thus helping a patient to move globally.
Osteoporosis is regarded to be the major cause of geriatric musculoskeletal or joint illnesses, leading to the need for orthopedic braces. The most incidences of musculoskeletal disorders are the geriatric population base. Therefore, this population group plays an important part in speeding up product demand. The aging of the skeletal and neuromuscular structures leads to a substantial change, leading in low tears of ligaments, arthritis and the ACL. In future years the geriatric population will also increase at a pace unprecedented. This factor is intended to stimulate product demand and to support the market in orthopedic braces.
The increased incidence of sports injuries has also become a major cause for athletes' osteoarthritis. Health-conscious individuals participate in fitness operations continually. This may lead to muscle pain, leading to enhanced brace and bracelets demand. Athletic activity can also lead to knee joint or ankle injury, which helps increase knee and ankle braces demand.
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Inadequate repayments for the orthopedic braces, elevated patient preferential therapy, and the lack of personalization options for the orthopedic braces hinder the development of the industry. In contrast, government awareness and expenditure boost in healthcare are anticipated to offer countless market growth possibilities in the near future.
Market Snapshots
Due to the increasing amount of osteoarthritis instances which have increased the need for braces and supports, brace form retained the highest market share in 2018.
Because of the elevated incidence of joint illnesses, pain management products retained also important market share in 2018.
Cold treatment and DVT products made a major contribution to market growth through development strategies under the pain management section.
Due to the growing preference for orthopedic consultations to check quickly, orthopedic clinic has been the biggest contributor in the sections of end-use in 2018.
Over the forecast period, the Over - the-Cunter Segment (OTC) is expected to display profitable CAGR as the products can be easily accessible without a doctor's prescription in retail shops.
Due to increased health care spending and increased consumer purchasing power, North America retained the biggest market share in 2018.
In the forecast period, Asia Pacific is expected to show appealing development owing to growing geriatric populations in China.
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Key Players & Strategies
Otto Knee Guard, Inc.; Alcare Company Ltd.; McDavid Knee Guard, Inc.; Bauerfeind AG; Össur Corporate; the Frank Stubbs Company, Inc.; Hely & Weber; Aspen Medical Products; FLA Orthopedics, Inc.; are a number of major businesses working in the industry.
The main businesses focus on strategic projects such as fresh products, fusions and acquisitions as well as regional expansions. Breg launched a fresh brace, Ultra Aurora, in February 2018, for example. The Ultra Zoom and Ultra High-5 are two combinations. In May 2018, DJO Global entered into a strategic partnership, managing DJO distribution in areas of North America, with XPO Logistics, a global logistical service provider. These companies also focus more and more on developing custom braces and support for patients.
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