Orthopedic Braces & Supports Market worth $5.1 billion by 2029

 The global orthopedic braces and supports market is projected to reach USD 5.1 billion by 2029, up from USD 3.6 billion in 2023, at a CAGR of 7.2%. We have observed that bracing products are increasingly used in musculoskeletal and soft tissue applications driven by the market availability of lightweight and customizable products and the rising number of sports and other injuries and related orthopedic surgical procedures. These trends are further augmented by the customer shift toward off-the-shelf/OTC products, integration of smart textiles with bracing products (such as glucose or heart rate monitors), and continued reimbursement coverage in prominent markets. Some of the noteworthy start-ups reported in the market include Roam Robotics, Sensoria Health, ActiveOrtho, Orpyx, Myomo, Exos, and Ossur.

Orthopedic Braces and Supports Market Segmentation & Geographical Spread

Orthopedic Braces and Supports Market Segmentation & Geographical Spread

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=24806829

Market Dynamics

 Drivers

  • Increasing prevalence of orthopedic diseases and disorders
  • Continuous product commercialization
  • Growing product affordability and availability
  • Rising number of sports and accident-related injuries
  • Growing public awareness about preventive care

 Restraints

  • Limited patient qualification for bracing-mediated orthopedic treatment
  • Limited clinical evidence of therapeutic efficacy

 Opportunities

  • Increased sales of off-the-shelf and online products
  • Expansion and promotion initiatives by major manufacturers

 Challenges

  • Significant adoption of pain medication
  • Product comfort and compliance

North America is expected to be the largest market of orthopedic braces & supports industry during the forecast period.

North America, comprising the US and Canada, accounted for the largest share of the orthopedic braces & supports market in 2022. The faster growth of the orthopedic braces and supports imaging market in North America can be attributed to its technological leadership, robust healthcare infrastructure, high market demand driven by prevalent diseases and an aging population, ample financial resources for advanced medical equipment investment, established regulatory frameworks ensuring safety and quality, active research collaboration, insurance coverage for advanced diagnostics, patient expectations for comprehensive care, and a competitive market environment fostering innovation.

As of 2022, prominent players in the market are 3M (US), Essity (Sweden), DJO LLC (US), Ossur HF (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Devicor Medical Products, Inc., (Leica Biosystems) (Germany), Hologic, Inc. (US), Argon Medical Devices (US), Zimmer Biomet (US), Ottobock Healthcare (Germany), Thuasne (France), ALCARE Co., Ltd (Japan), Nippon Sigmax (Japan), Bird & Cronin (US), DeRoyal Industries (US), medi GmbH (Germany), and Foundation Wellness (US)

Recent Developments of Orthopedic Braces & Supports Industry:

  • In January 2022, Össur announced the launch of the ReLeaf Active knee brace, designed to provide pain relief and support for patients with osteoarthritis. The brace features a unique hinge design that mimics the natural movement of the knee, and it is made from lightweight, breathable materials for comfort.
  • In August 2022, DonJoy announced the launch of the Vizor 120 ankle brace, a lightweight and comfortable brace that provides support and stability for patients with ankle sprains. The brace features a unique air-filled pad that conforms to the shape of the ankle, and it is made from breathable materials to keep the foot cool and dry.

Comments

Post a Comment

Popular posts from this blog

Healthcare Simulation Market Size & Share - Global Future Growth Predictions

Image
 The global healthcare simulation market is projected to reach USD 4.6 billion by 2028 from USD 2.2 billion in 2023, at a high CAGR of 15.7% during the forecast period. The expansion of this market is fueled by the increasing adoption of advanced techniques and methodologies in delivering medical education, along with restricted patient access during medical training. Nevertheless, the market's growth is anticipated to be somewhat hampered by the constrained availability of funds and incomplete replication of medical simulators. Market Size Introduction: The healthcare simulation market size represents the total valuation of products and services within the healthcare simulation industry over a specific period, typically a year. It encompasses various simulation technologies, including manikins, simulators, simulated environments, and software solutions, utilized for medical training, education, and research purposes. Understanding the market size is crucial for stakeholders as
Read more

Global Dental Practice Management Software Industry worth $2.3 billion By 2028

Image
 The Global Dental Practice Management Software Market in terms of revenue was estimated to be worth $1.5 billion in 2023 and is poised to reach $2.3 billion in 2028, growing at a CAGR of 8.6% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The rising awareness of oral hygiene and dental treatment, the increasing demand for advanced dental procedures, and the growing market for dental tourism in developing countries are major key drivers for the market. However, data privacy and security issues are the factors which may slow down market growth. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153532396 Dental Practice Management Software Industry Dynamics Driver: Rising demand for advanced cosmetic dental procedures Cosmetic denti
Read more

Humanized Mouse and Rat Model Market worth $349 million by 2028

Image
  In the near future, the humanized mouse and rat model industry is set to undergo transformative advancements, revolutionizing biomedical research and drug development. These cutting-edge models, where mice and rats are genetically modified to possess human-like characteristics and immune systems, will play a pivotal role in bridging the gap between preclinical studies and clinical trials. Through refined genetic engineering techniques, these models will closely mimic human physiology, enabling more accurate and predictive assessments of drug safety, efficacy, and disease mechanisms. Moreover, the industry will witness the integration of advanced technologies, such as CRISPR/Cas9, to expedite the creation of customized humanized models, tailoring them to specific diseases or individual patient profiles. These advancements will spur collaboration between academia, pharmaceutical companies, and biotech firms, fostering a dynamic research ecosystem focused on targeted therapies and perso
Read more