Global Orthopedic Braces & Supports Market Size to Reach USD 7.01 Billion in 2030 | Emergen Research

Vancouver, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global orthopedic braces & supports market size was USD 4.02 Billion in 2021 and is expected to register a revenue CAGR of 6.4% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of musculoskeletal disorders and rapid technological product development in terms of material and model design of orthopedic braces and supports are crucial factors driving market revenue growth. In addition, increasing incidences of sports injuries and accidents in the recent years is significantly expected to drive revenue growth of the market.

Desire to treat chronic musculoskeletal pain, avoid injury, speed up the recovery process, and push frontiers of physical and athletic performance has led to an increase in use of popular orthopedic braces such as functional knee braces, unloader braces, and neoprene sleeves. These orthopedic braces have been around for a long time in a similar form and are commonly utilized. Moreover, increased frequency of musculoskeletal problems is another factor driving rising demand and driving market growth. According to the study, burden of musculoskeletal diseases is greater in developed countries. Orthopedic braces and supports are typically used to provide lateral stability or restore alignment of knee joint components. Concept of going beyond structural support or alignment correction to increase leg muscle strength has become much more tangible as technology has advanced. As a result, large corporations have lately begun to produce orthopedic braces that use assistive device and exoskeleton technologies to not only assist people with movement problems, but also to enhance healthy knee function, skills, and minimize tiredness.

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A recent trend in the market is rapid technological product development in terms of material and model design of orthopedic braces and supports. Over the last decade, material alternatives have shifted toward polymer-based components, including polymer/metal hybrids and disposable polymer devices. Orthopedic braces are devices designed to limit joint movement that are composed of robust materials such as hard plastics and soft materials including spandex or other tightly knit fabrics. As a result of recent developments in materials science and technology, prosthetic limbs have evolved dramatically. Most widely used materials in the realm of prosthetics and orthotics are thermoplastics and carbon fiber composites. Each of these materials have different purposes and applications and is used depending on patient's needs and the type of device they are receiving.

Scope of Research

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Major Companies and Competitive Landscape

The global Orthopedic Braces & Supports market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective orthopedic braces & supports solutions. Some major players included in the global orthopedic braces & supports market report are:

• Breg, Inc.,
• Bauerfeind AG
• Becker Orthopedic
• Ottobock Holding GmbH
• Össur.
• Zimmer Biomet Holdings, Inc.
• Globus Medical
• 3M
• DJOGLOBAL, LLC.

Strategic Development

• On 1 February 2021, Breg, Inc., a leading orthopedic bracing and billing services provider, announced the introduction of two new spinal orthosis lines, Pinnacle and AscendTM. Breg's 15 new solutions will improve care for individuals suffering from spinal injuries. Breg will also upgrade spine treatment by creating more comfortable braces that encourage patient compliance and healing, as well as including form-fitting, molded components that address some of the most common issues patients with standard spinal orthoses.
• On 1 July 2022, Zimmer Biomet Holdings, Inc., a global leader in musculoskeletal healthcare, announced a collaboration with OSSIS to serve as sole Asia Pacific distributor for its patient-specific 3D printed titanium hip replacement joints. OSSIS, situated in New Zealand, specializes in complicated hip replacements, such as second-time hip replacements and procedures requiring bone tumors and trauma. This collaboration will enable Zimmer Biomet to offer patient-specific implants designed with a combination of clinical and engineering expertise to wide network of orthopedic specialists.

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Some Key Highlights From the Report

• The hip, back, and spine supports segment accounted for significant revenue share in 2021. Hip braces include stabilization and unloader versions, whereas knee braces include patellofemoral, prophylactic, unloader, and functional braces. Back supports aid in spinal decompression, lowering the load on spinal components. Reduced pressure lessens muscle tension, a defensive reaction to back injury and trauma, as well as pain that frequently follows. Back braces even provide proprioceptive feedback, which encourages people to improve their posture and adopt good body mechanics. Furthermore, customized hip braces are also worn during jogging and exercising to provide compression to injured or strained hip flexor muscles or to alleviate sciatica discomfort. These are the major factors driving revenue growth of this segment.
• The E-Commerce platforms segment is expected to grow at a robust CAGR during the forecast period. Consumers are turning to e-commerce websites to purchase from a large selection of options and take advantage of advantageous offers and discounts to avoid inconvenience of physical shopping. E-commerce is changing the way that people buy and sell orthopedic products, including knee and hip braces and supports. In terms of product accessibility, affordability, transportation patterns, and many other important elements, e-commerce websites have several benefits over other types of sales channels. Furthermore, majority of clients prefer to purchase online, due to lower pricing offered compared to other merchants and physical stores. This market sector also offers several other features, such as speedy delivery, an easy ordering process, and lower transaction and product costs, which in turn, is expected to drive revenue growth of this segment.
• The Europe market accounted for a significant revenue share in 2021. This is attributed to rising R&D initiatives and projects related to orthopedic braces & supports, as well as presence of a large number of major companies such as Ossur, DJO, LLC., BSN Medical, Bauerfeind AG, Zimmer Biomet Holdings, Inc., and Otto Bock Healthcare GmbH,. Furthermore, European braces are commonly used for conservative scoliosis therapy. Chêneau Brace is widely used in France and other European countries, while Rigo System Cheneau Brace is used in Spain and  ScoliOlogiC ‘Chêneau lite,’ is used in Germany, which are both Cheneau derivatives. In France and Italy, Lyonnaise Brace is utilized, in Greece, Dynamic Derotating Brace DDB is used. Moreover, in the Netherlands, TriaC brace is used and in Italy, SPoRT-based Sforzesco brace and the Progressive Action Short Brace PASB are employed.

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Emergen Research has segmented global orthopedic braces & supports market based on product, material type, distribution channel, and region:

• Product Outlook (Revenue, USD Billion; 2019-2030)

• • Knee Braces and Supports
  • Ankle Braces and Supports
  • Foot Walkers and Orthoses
  • Hip, Back and Spine Braces and Supports
  • Shoulder Braces and Supports
  • Elbow Braces and Supports
  • Hand & Wrist Braces and Supports
  • Facial Braces and Supports

• Material Type Outlook (Revenue, USD Billion; 2019-2030)

• • Soft & Elastic Braces and Supports
  • Hard Braces and Supports
  • Hinged Braces and Supports

• Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)

• • Hospitals
  • Orthopedic Clinics
  • E-Commerce Platforms

• Regional Outlook (Revenue, USD Billion; 2019-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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