Clifton, New Jersey, May 24, 2023 (GLOBE NEWSWIRE) -- The rising prevalence of orthopedic conditions such as osteoarthritis, osteoporosis, fractures, sports injuries, and degenerative joint diseases is a significant driver for the orthopedic braces and supports industry. As the population ages and remains active, the demand for braces and supports to provide pain relief, stability, and assistance in rehabilitation continues to grow. Advances in materials science, manufacturing techniques, and design innovation have improved the effectiveness, comfort, and durability of orthopedic braces and supports. The increasing participation in sports and fitness activities, coupled with a rising awareness of injury prevention, has boosted the demand for orthopedic braces and supports. Athletes and fitness enthusiasts often use braces and supports to protect vulnerable joints and muscles, enhance performance, and facilitate faster recovery from injuries. Older adults are more prone to orthopedic conditions, including joint pain, arthritis, and fractures. The overall growth in healthcare expenditure, both by individuals and governments, has contributed to the expansion of the orthopedic braces and supports market. As healthcare systems focus on providing better patient care and rehabilitation, the demand for braces and supports as part of non-surgical or post-surgical treatment plans is expected to increase. Orthopedic braces and supports are commonly used in rehabilitation and physical therapy settings.
The Orthopedic Braces & Supports industry offers several opportunities for companies to capitalize on market demand and drive growth. Developing innovative and differentiated products can help companies stand out in the market. This could involve incorporating advanced materials, smart technologies, adjustable features, and ergonomic designs into orthopedic braces and supports. Offering tailored solutions that are designed to fit individual patients' anatomical and functional requirements can be a significant opportunity. Companies can invest in technologies such as 3D scanning, modeling, and printing to create customized products that provide better fit, comfort, and overall patient satisfaction. They can expand product portfolio by offering braces and supports for the knee, ankle, wrist, elbow, back, and other joints or areas that require stabilization or support. Targeting the aging population by providing braces and supports that address the unique needs of seniors, such as joint pain relief or fall prevention, can be a lucrative opportunity. Similarly, targeting athletes and sports enthusiasts with specialized sports braces and supports can tap into the growing sports medicine market. Emerging markets, especially in Asia, Latin America, and Africa, present significant growth opportunities. Building strong relationships and collaborations with orthopedic surgeons, physiotherapists, and other healthcare professionals can be beneficial. Investing in research and development can lead to the development of novel products and technologies
Key Takeaways:
- The increasing aging population, Occupational and Lifestyle Factors, and Athletes, are expected to drive the future demands for Hip, Back, And Spine Braces and Supports at a CAGR of 7.44%.
- Soft and elastic braces and supports are widely used globally due to their versatility, comfort, and ease of use. They continue to lead with over 60% revenue share due to Moderate Support, flexibility, Breathability, suitability for everyday use, and a Cost-Effective Option.
- Anterior Cruciate Ligament Injury accounts for 54.30% share of revenues for Orthopedic Braces & Supports, as they find highest application for Ligament injuries.
- Osteoarthritis has affected nearly 500 million world's population, and expected to further rise creating lucrative demand for orthopedic braces and supports accounting for over USD 900 Million.
- Hospitals and surgical centers have their own orthopedic departments or clinics where braces and supports can be prescribed and provided to patients. They account for 48.66% revenue generated from this sales channel.
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The market is witnessing rapid technological advancements in materials, design, and manufacturing processes. Advanced materials such as lightweight alloys, carbon fiber composites, and breathable fabrics are being used to develop braces and supports that are more comfortable, durable, and effective. Additionally, the integration of smart technologies, including sensors and connectivity, is enabling the development of intelligent braces and supports that can monitor patient progress, provide feedback, and facilitate personalized treatment. Companies are investing in technologies that enable mass customization to meet the evolving demands of patients and healthcare professionals. Manufacturers are incorporating ergonomic features, breathable materials, moisture-wicking properties, and adjustable components to enhance comfort. As the adoption of minimally invasive treatments increases, the demand for braces and supports that aid in recovery and rehabilitation is also growing. Companies are adopting direct-to-consumer models, bypassing traditional distribution channels and establishing their online presence to cater to consumer demand directly.
The Orthopedic Braces & Supports industry is subject to stringent regulations and quality standards imposed by regulatory bodies such as the FDA (Food and Drug Administration) in the United States and equivalent agencies in other countries. Price competition and cost pressures can lead to price erosion and reduced profit margins. Additionally, reimbursement policies and restrictions imposed by healthcare players and insurance providers can limit the reimbursement rates for orthopedic braces and supports, impacting the pricing dynamics in the market. Insufficient education and information dissemination can lead to underutilization or inappropriate use of these devices, hindering market growth. Poor compliance can lead to suboptimal treatment outcomes and limit the overall market growth potential. Additionally, the availability of counterfeit products poses risks to patient safety and trust in the market. Orthopedic braces and supports, like any medical devices, carry a risk of adverse events or device failures. In the event of product recalls or liability claims, companies may face financial burdens, damage to their reputation, and potential legal consequences. Maintaining robust quality control processes, monitoring post-market surveillance, and addressing safety concerns promptly are essential to mitigate these risks.
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Knee braces and supports are commonly sought after products with highest share, due to the high incidence of knee-related injuries and conditions like Osteoarthritis and Knee Degeneration and Post-Operative Rehabilitation. Knee injuries, such as ligament tears, meniscus tears, and patellar instability, are common among athletes, active individuals, and the general population. Athletes and fitness enthusiasts often wear knee braces and supports to protect the knee joint from excessive strain, especially in sports like basketball, soccer, running, and weightlifting. Carpal tunnel syndrome, Wrist Sprains and Fractures, Tendonitis and Tenosynovitis, Arthritis and Joint Degeneration, Sports Injuries, Occupational Hazards, and Overuse Injuries are expected to drive future demands for hand and wrist braces and supports. Shoulder Instability, Rotator Cuff Injuries, Shoulder Impingement, Shoulder Dislocation/Subluxation Recovery, Shoulder Arthritis, Post-Operative Rehabilitation, Shoulder Tendonitis/Bursitis, and Sports Injuries are creating substantial demands for shoulder braces or support in the global markets to be valued over USD 700 Million by 2028.
Hard braces and supports are used in specific situations where a higher level of immobilization and support is required. These braces are typically constructed with rigid materials such as hard plastic, metal, or carbon fiber, and they provide a more rigid and restrictive support compared to soft or elastic braces. They are used in conditions like, Severe Joint Instability, Fracture Management, Spinal Stability, Scoliosis Treatment, Joint Arthritis, Ligament and Tendon Repair, Joint Protection in High-Impact Activities. On the other hand, hinged braces and supports made from Thermoplastic materials, such as polyethylene or polypropylene, stainless steel or aluminum, Neoprene or fabric like nylon or polyester find limited application with lowest revenue shares. These braces feature hinged components that limit excessive movement and provide stability to the affected joint.
Ligament injuries can occur in various joints, such as the knee, ankle, or wrist, and braces and supports play a crucial role in the management and recovery of these injuries. Hence Orthopedic Braces & Supports find highest application for ligament injuries and recovery. They can help reduce pain, prevent further damage, and facilitate healing by limiting excessive movement, promoting proper alignment, and allowing for a gradual return to activity.
Orthopedic braces and supports are commonly used as a preventive measure to reduce the risk of injuries and provide support during physical activities. Sports and Athletic Activities, Individuals with pre-existing joint instability or hypermobility may wear braces and supports as a preventive measure. These can be used can be used as a preventive measure for individuals engaging in repetitive or high-impact activities that place stress on specific joints. Individuals working in physically demanding occupations or industries that involve repetitive motions, heavy lifting, or prolonged standing may use orthopedic braces and supports as a preventive measure. Following an injury, orthopedic braces and supports may be used during the rehabilitation phase as a preventive measure to protect the injured area and surrounding structures.
Orthopedic braces and supports are increasingly being used for the management of osteoarthritis. They can help alleviate pain, provide external support and help stabilize the joint, reducing excessive movement and improving overall joint stability. They help promote proper joint alignment, redistribute forces, and reduce joint overload. By redistributing forces, braces and supports can help slow down the progression of osteoarthritis and protect the joint from further damage. It can improve their overall psychological well-being and encourage them to engage in physical activities with reduced fear of pain or joint instability.
Conditions such as osteoporosis, Paget's disease, spinal degeneration, and diabetes-related clinical conditions can create a demand for orthopedic braces and supports. These conditions can affect the musculoskeletal system and may result in various orthopedic issues. Orthopedic braces and supports, such as back braces or fracture braces, can help stabilize weakened vertebrae, reduce pain, and provide support for individuals with osteoporosis-related spinal fractures or vertebral collapse. Orthopedic braces and supports designed for the spine, such as lumbar braces or cervical collars, can help support the affected areas, improve alignment, and reduce pain. Diabetic shoes, ankle-foot orthoses (AFOs), or offloading braces, may be used to provide support, protect vulnerable areas, and prevent further complications in individuals with diabetes-related clinical conditions.
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Orthopaedic clinics and specialists, including orthopedic surgeons and sports medicine physicians, commonly provide braces and supports as part of their services. These clinics may have their own inventory of braces and supports or may refer patients to specialized suppliers. Physical therapy and rehabilitation centers often have a selection of braces and supports that are recommended and provided to patients as part of their treatment plans. Durable Medical Equipment (DME) Providers are specialized suppliers that offer a wide range of medical equipment, including orthopedic braces and supports. However, some retail stores and pharmacies carry a selection of orthopedic braces and supports, as a result of which they account for only 16% of the revenues. But, lately Pharmacies and retailers have expanded their product ranges to include a wide variety of orthopedic braces and supports. This allows customers to choose from different types, sizes, and designs based on their specific needs and preferences. This will drive the future demand from phramacy & retailers at a higher growth rate of 6.80%. Online platforms, e-commerce websites, and specialized medical equipment websites have become popular channels for buying orthopedic braces and supports. Additionally, customers can view reviews, select from a wide range of options, get free home delivery, competitive price, and accesible from remote areas.
North America is at the forefront of developing and adopting advanced orthopedic braces and supports with improved materials, designs, and features. The region has a relatively high prevalence of orthopedic conditions, such as sports injuries, arthritis, and age-related musculoskeletal disorders. The well-established healthcare system in North America, including the availability of specialized orthopedic clinics, hospitals, and rehabilitation centers, supports the demand for orthopedic braces and supports. The aging population in North America contributes to the demand for orthopedic braces and supports. In many North American countries, healthcare insurance coverage includes orthopedic braces and supports as part of the coverage. This accessibility and financial support contribute to the higher usage and demand for these products in the region.
In Europe, Germany is the third leading country due to strong healthcare system and technological advancements in Orthopedic Braces & Supports market with 6.12% global share. Germany is known for its advanced medical technology and innovation. Germany has a well-established healthcare infrastructure, including hospitals, orthopedic clinics, and rehabilitation centers. The large population and aging demographics contribute to the demand for orthopedic braces and supports in the country. Orthopedic braces and supports play a crucial role in the rehabilitation process, aiding in pain management, joint stabilization, and functional recovery. Orthopedic braces and supports are often covered by health insurance, making them more accessible and affordable for patients. University Hospital Frankfurt-am-Main, Heidelberg University Hospital, Charite University Hospital Berlin, are some of the popular orthopedic hospitals in Germany. France has a robust healthcare system and a high demand for orthopedic braces and supports due to its Aging Population, Sports Injuries caused from playing soccer, rugby, and cycling. Several popular brands in France that sell orthopedic braces and supports are Thuasne, Bauerfeind, Gibaud, Aircast, Donjoy.
Japan has one of the largest aging populations in the world. This drives the demand for orthopedic braces and supports as a means of pain management, joint stabilization, and mobility support. The country has made significant contributions to the development of innovative orthopedic braces and supports, incorporating cutting-edge materials, designs, and features. Japan has a culture that emphasizes an active lifestyle and participation in sports and physical activities. The Department of Orthopaedic Surgery of the University of Tokyo Hospital, the first department specializing in orthopedic surgery in Japan, has been playing a leading role in orthopedic surgery in the nation. On the other hand, in South America, Brazil has a range of orthopedic brace manufacturers and suppliers, offering more affordable options compared to some other markets. This contributes to the accessibility and demand for orthopedic braces and supports among a broader population. Ortho Pauher, Mercur, Salvapé, MediBrace, Bioflorence are popular in the Brazilian market due to their commitment to quality, affordability, and suitability for the local population's needs.
The Asia-Pacific region is expected to witness robust demand for orthopedic braces and supports in the coming years. With increasing age, the prevalence of orthopedic conditions such as osteoarthritis, fractures, and degenerative joint diseases rises. As healthcare infrastructure improves and access to medical services expands, there is greater availability and utilization of orthopedic braces and supports in hospitals, clinics, and rehabilitation centers. Increased awareness about orthopedic conditions and advancements in medical diagnosis contribute to the demand for orthopedic braces and supports. Rapid urbanization and sedentary lifestyles in many countries of the Asia-Pacific region contribute to the rise in musculoskeletal disorders, including back pain, joint problems, and repetitive strain injuries.
The Middle East and Africa (MEA) region currently holds a smaller share in the global Orthopedic Braces & Supports market compared to other regions. Some countries in the MEA region face challenges related to healthcare infrastructure and access to healthcare services. lower income levels and limited healthcare budgets can hinder the widespread use of these products. In some cases, alternative forms of treatment may be preferred over the use of braces and supports. Awareness about orthopedic conditions and the benefits of orthopedic braces and supports may be lower in certain regions of the MEA In some areas import and distribution challenges may affect the availability and affordability of orthopedic braces and supports. These challenges can include logistical issues, regulatory barriers, and supply chain constraints.
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Considered in the Report
- Geography: Global
- Historic Year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
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