Product Code: MD 3845
"The orthopedic braces and supports market is projected to grow at a CAGR of 5.7% during the forecast period"
The orthopedic braces and supports market is projected to reach USD 5.5 billion by 2024 from USD 4.1 billion in 2019, at a CAGR of 5.7%. The growth in the orthopedic braces and supports market is majorly driven by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability and market availability, rising number of sports and accident-related injuries, and growing public awareness related to preventive care.
However, the limited patient qualification for bracing-mediated orthopedic treatment, limited clinical evidence to support the therapeutic efficacy of orthopedic braces, and the high adoption of pain medications are the major factors that are expected to restrain the growth of this market during the forecast period.
"The knee braces and supports segment to witness the highest growth rate in the orthopedic braces and supports market, by product, during the forecast period"
The knee braces and supports segment is expected to witness the highest growth rate during the forecast period. The high growth in this segment can be attributed to the several benefits offered by these products, such as medial and lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.
"Soft braces and supports segment to witness the highest growth rate in the orthopedic braces and supports market, by type, during the forecast period"
The soft & elastic braces and supports segment is estimated to grow at the highest CAGR during the forecast period. Growth in this market can primarily be attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative and preventive care, and the supportive reimbursement scenario for target products across mature markets.
"The ligament injury segment accounted for the largest share of the orthopedic braces and supports market, by application, in 2018"
The ligament injury segment accounted for the largest share of the orthopedic braces and supports market in 2018. The large share of this segment is attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries.
"The hospitals & surgical centers segment accounted for the largest share of the orthopedic braces and supports market, by distribution channel, in 2018"
The hospitals & surgical centers segment accounted for the largest share of the orthopedic braces and supports market in 2018. Market growth can largely be attributed to the growing number of orthopedic surgical procedures that require post-operative patient rehabilitation and the favorable reimbursement for customized braces and supports (coupled with the growing availability of insurance coverage for the surgical treatment of orthopedic disorders such as ligament injury, bone deformity, scoliosis, and osteoporosis) across major countries.
"The Asia Pacific market to grow at the highest CAGR during the forecast period"
The orthopedic braces and supports market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period majorly due to the significant prevalence of orthopedic & diabetes-related diseases in this population segment, increasingly localized product manufacturing, favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries.
Breakdown of supply-side primary interviews:
- By Company Type: Tier 1: 25%, Tier 2: 30%, and Tier 3: 45%
- By Designation: C-level: 26%, Director-level: 30%, and Others: 44%
- By Region: North America: 35%, Europe: 26%, APAC: 23%, and the RoW: 16%
The major players operating in this market are: Ossur Hf (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Ottobock Holding GmbH & Co. KG (Germany), medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Reh4Mat (Poland), 3M Company (US), Zimmer Biomet Holdings, Inc. (US), DeRoyal Industries, Inc. (US), Bird & Cronin, Inc. (US), Becker Orthopedic (US), and United Ortho (US).
Research Coverage:
This report studies the orthopedic braces and supports market based on product, type, application, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).
Key Benefits of Buying the Report:
This report focuses on various levels of analysis-industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the orthopedic braces and supports market, and high-growth regions and their drivers, restraints, opportunities, and challenges. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 MARKET SCOPE
- 1.3.1 MARKETS COVERED
- 1.3.2 GRAPHIC SCOPE
- 1.3.3 YEARS CONSIDERED FOR THE STUDY
- 1.4 CURRENCY USED FOR THE STUDY
- 1.5 MAJOR MARKET STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Secondary sources:
- 2.1.2 PRIMARY DATA
- 2.2 MARKET ESTIMATION METHODOLOGY
- 2.2.1 END USER-BASED MARKET ESTIMATION
- 2.2.2 REVENUE MAPPING-BASED MARKET ESTIMATION
- 2.2.3 PRIMARY RESEARCH VALIDATION
- 2.3 DATA TRIANGULATION
- 2.4 RESEARCH ASSUMPTIONS
- 2.5 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ORTHOPEDIC BRACES AND SUPPORTS MARKET OVERVIEW
- 4.2 ASIA PACIFIC: ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY DISTRIBUTION CHANNEL
- 4.3 ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY PRODUCT
- 4.4 ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY TYPE
- 4.5 ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY APPLICATION
- 4.6 ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY COUNTRY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Increase prevalence of orthopedic diseases and disorders
- 5.2.1.2 Continuous product commercialization
- 5.2.1.3 Greater product affordability and market availability
- 5.2.1.4 Rising number of sports and accident-related injuries
- 5.2.1.5 Growing public awareness related to preventive care
- 5.2.2 RESTRAINTS
- 5.2.2.1 Limited patient qualification for bracing-mediated orthopedic treatment
- 5.2.2.2 Limited clinical evidence to support the therapeutic efficacy of orthopedic braces
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Increased sales of off-the-shelf and online products
- 5.2.3.2 Promotion and branding initiatives undertaken by major product manufacturers
- 5.2.4 CHALLENGES
- 5.2.4.1 Significant adoption of pain medications
- 5.3 REIMBURSEMENT SCENARIO
- 5.4 REGULATORY SCENARIO
6 ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY PRODUCT
- 6.1 INTRODUCTION
- 6.2 KNEE BRACES AND SUPPORTS
- 6.2.1 GLOBAL KNEE BRACES AND SUPPORTS MARKET, BY TYPE
- 6.2.2 GLOBAL KNEE BRACES AND SUPPORTS MARKET, BY APPLICATION
- 6.2.3 GLOBAL KNEE BRACES AND SUPPORTS MARKET, BY DISTRIBUTION CHANNEL
- 6.3 ANKLE BRACES AND SUPPORTS
- 6.3.1 GLOBAL ANKLE BRACES AND SUPPORTS MARKET, BY TYPE
- 6.3.2 GLOBAL ANKLE BRACES AND SUPPORTS MARKET, BY APPLICATION
- 6.3.3 GLOBAL ANKLE BRACES AND SUPPORTS MARKET, BY DISTRIBUTION CHANNEL
- 6.4 FOOT WALKERS AND ORTHOSES
- 6.4.1 GLOBAL FOOT WALKERS AND ORTHOSES MARKET, BY TYPE
- 6.4.2 GLOBAL FOOT WALKERS AND ORTHOSES MARKET, BY APPLICATION
- 6.4.3 GLOBAL FOOT WALKERS AND ORTHOSES MARKET,
BY DISTRIBUTION CHANNEL 71
- 6.5 BACK, HIP, & SPINE BRACES AND SUPPORTS
- 6.5.1 GLOBAL BACK, HIP AND SPINE BRACES AND SUPPORTS MARKET, BY TYPE
- 6.5.2 GLOBAL BACK, HIP AND SPINE BRACES AND SUPPORTS MARKET,
BY APPLICATION 73
- 6.5.3 GLOBAL BACK, HIP AND SPINE BRACES AND SUPPORTS MARKET,
BY DISTRIBUTION CHANNEL 73
- 6.5.4 NECK AND CERVICAL BRACES AND SUPPORTS
- 6.5.4.1 Global Neck And Cervical Braces And Supports Market, by Type
- 6.5.4.2 Global Neck And Cervical Braces And Supports Market,
By Application 75
- 6.5.4.3 Global Neck And Cervical Braces And Supports Market,
By Distribution Channel 76
- 6.5.5 LOWER SPINE BRACES & SUPPORTS
- 6.5.5.1 Global Lower Spine Braces And Supports Market, By Type
- 6.5.5.2 Global Lower Spine Braces And Supports Market, By Application
- 6.5.5.3 Global Lower Spine Braces And Supports Market, By Distribution Channel
- 6.6 SHOULDER BRACES AND SUPPORTS
- 6.6.1 GLOBAL SHOULDER BRACES AND SUPPORTS MARKET, BY TYPE
- 6.6.2 GLOBAL SHOULDER BRACES AND SUPPORTS MARKET, BY APPLICATION
- 6.6.3 GLOBAL SHOULDER BRACES AND SUPPORTS MARKET,
BY DISTRIBUTION CHANNEL 81
- 6.7 ELBOW BRACES AND SUPPORTS
- 6.7.1 GLOBAL ELBOW BRACES AND SUPPORTS MARKET, BY TYPE
- 6.7.2 GLOBAL ELBOW BRACES AND SUPPORTS MARKET, BY APPLICATION
- 6.7.3 GLOBAL ELBOW BRACES AND SUPPORTS MARKET,
BY DISTRIBUTION CHANNEL 83
- 6.8 HAND & WRIST BRACES AND SUPPORTS
- 6.8.1 GLOBAL HAND & WRIST BRACES AND SUPPORTS MARKET, BY TYPE
- 6.8.2 GLOBAL HAND & WRIST BRACES AND SUPPORTS MARKET, BY APPLICATION
- 6.8.3 GLOBAL HAND & WRIST BRACES AND SUPPORTS MARKET,
BY DISTRIBUTION CHANNEL 86
- 6.9 FACIAL BRACES AND SUPPORTS
- 6.9.1 GLOBAL FACIAL BRACES AND SUPPORTS MARKET, BY TYPE
- 6.9.2 GLOBAL FACIAL BRACES AND SUPPORTS MARKET, BY APPLICATION
- 6.9.3 GLOBAL FACIAL BRACES AND SUPPORTS MARKET,
BY DISTRIBUTION CHANNEL 89
7 ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY TYPE
- 7.1 INTRODUCTION
- 7.2 SOFT & ELASTIC BRACES AND SUPPORTS
- 7.2.1 ADVANTAGES OF SOFT & ELASTIC BRACES & SUPPORTS HAVE FUELED THEIR ADOPTION OVER OTHER TYPES
- 7.3 HARD & RIGID BRACES AND SUPPORTS
- 7.3.1 SUPPORTIVE REIMBURSEMENT SCENARIO AND RISING PREVALENCE OF TARGET DISEASES SUPPORTS MARKET GROWTH
- 7.4 HINGED BRACES AND SUPPORTS
- 7.4.1 RISING GERIATRIC POPULATION AND INCREASING NUMBER OF LIGAMENT INJURIES
8 ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY APPLICATION
- 8.1 INTRODUCTION
- 8.2 LIGAMENT INJURY
- 8.2.1 ANTERIOR CRUCIATE LIGAMENT INJURY
- 8.2.1.1 ACL injury applications to register the highest growth during the forecast period
- 8.2.2 LATERAL COLLATERAL LIGAMENT INJURY
- 8.2.2.1 Growing reimbursement coverage of LCL-related surgical procedures to drive market growth
- 8.2.3 OTHER LIGAMENT INJURIES
- 8.3 PREVENTIVE CARE
- 8.3.1 INCREASING PUBLIC PARTICIPATION IN SPORTS-RELATED ACTIVITIES TO SUPPORT MARKET GROWTH
- 8.4 POST-OPERATIVE REHABILITATION
- 8.4.1 INCREASING NUMBER OF ORTHOPEDIC RECONSTRUCTIVE SURGERIES TO SUPPORT MARKET GROWTH
- 8.5 OSTEOARTHRITIS
- 8.5.1 PUBLIC AWARENESS ON SIDE-EFFECTS OF ORAL MEDICATIONS FOR PAIN MANAGEMENT HAS DRIVEN THE USE OF BRACES & SUPPORTS
- 8.6 COMPRESSION THERAPY
- 8.6.1 INNOVATION OF TECHNOLOGICALLY ADVANCED COMPRESSION BRACES TO SUPPORT MARKET GROWTH
- 8.7 OTHER APPLICATIONS
- 8.7.1 DEARTH OF MEDICAL REIMBURSEMENTS FOR TARGET APPLICATIONS TO HAMPER THE MARKET GROWTH
9 ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY DISTRIBUTION CHANNEL
- 9.1 INTRODUCTION
- 9.2 ORTHOPEDIC CLINICS
- 9.2.1 RISING NUMBER OF AMBULATORY CARE UNITS ACROSS MATURE MARKETS IS A MAJOR FACTOR SUPPORTING THE GROWTH OF THIS SEGMENT
- 9.3 HOSPITALS & SURGICAL CENTERS
- 9.3.1 INCREASING POST-OPERATIVE PATIENT REHABILITATION PROCEDURES TO SUPPORT THE GROWTH OF THIS SEGMENT
- 9.4 PHARMACIES & RETAILERS
- 9.4.1 WIDE AVAILABILITY OF ORTHOPEDIC BRACING PRODUCTS THROUGH RETAILERS & PHARMACIES TO SUPPORT THE GROWTH OF THIS SEGMENT
- 9.5 E-COMMERCE PLATFORMS
- 9.5.1 E-COMMERCE IS FAST EMERGING AS A MAJOR DISTRIBUTION CHANNEL FOR VARIOUS ORTHOPEDIC BRACING AND SUPPORT PRODUCTS
- 9.6 OTHER DISTRIBUTION CHANNELS
10 ORTHOPEDIC BRACES AND SUPPORTS MARKET, BY REGION
- 10.1 INTRODUCTION
- 10.2 NORTH AMERICA
- 10.2.1 US
- 10.2.1.1 Increasing number of sports-related injuries and the strong presence of market players have driven market growth in the US
- 10.2.2 CANADA
- 10.2.2.1 Market growth is driven by the rising incidences of bone-related degenerative diseases
- 10.3 EUROPE
- 10.3.1 GERMANY
- 10.3.1.1 Favorable outlook in Germany has supported product commercialization
- 10.3.2 UK
- 10.3.2.1 Market growth in the UK is mainly driven by the increasing number of sports injuries
- 10.3.3 FRANCE
- 10.3.3.1 High obese and geriatric populations in France will drive demand for braces & supports
- 10.3.4 ITALY
- 10.3.4.1 Increasing public awareness about preventive care for musculoskeletal injuries to drive market growth
- 10.3.5 SPAIN
- 10.3.5.1 Increasing market availability of orthopedic braces and supports to drive the market growth
- 10.3.6 REST OF EUROPE
- 10.4 ASIA PACIFIC
- 10.4.1 JAPAN
- 10.4.1.1 Japan dominates the Asia Pacific orthopedic braces and supports market
- 10.4.2 CHINA
- 10.4.2.1 Expansion in target patient population and modernization of healthcare facilities to drive the market growth
- 10.4.3 INDIA
- 10.4.3.1 Growing number of hip & knee surgeries to support market growth
- 10.4.4 REST OF ASIA PACIFIC
- 10.5 LATIN AMERICA
- 10.5.1 BRAZIL
- 10.5.2 MEXICO
- 10.5.3 REST OF LATIN AMERICA
- 10.6 MIDDLE EAST & AFRICA
11 COMPETITIVE LANDSCAPE
- 11.1 OVERVIEW
- 11.2 GLOBAL MARKET SHARE ANALYSIS (2018)
- 11.3 COMPETITIVE SCENARIO (2014 - 2019)
- 11.3.1 KEY PRODUCT LAUNCHES (2014-2019)
- 11.3.2 KEY EXPANSIONS (2014-2019)
- 11.3.3 KEY MERGERS AND ACQUISITIONS (2014-2019)
- 11.3.4 KEY PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS (2014-2019)
- 11.4 COMPETITIVE LEADERSHIP MAPPING
- 11.5 VENDOR INCLUSION CRITERIA
- 11.5.1.1 Visionary leaders
- 11.5.1.2 Innovators
- 11.5.1.3 Dynamic differentiators
- 11.5.1.4 Emerging companies
12 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, MnM View)*
- 12.1 INTRODUCTION
- 12.2 3M COMPANY
- 12.3 ALCARE CO., LTD.
- 12.4 BAUERFEIND AG
- 12.5 BIRD AND CRONIN, INC. (A PART OF DYNATRONICS CORPORATION)
- 12.6 BREG, INC.
- 12.7 BSN MEDICAL (A PART OF SVENSKA CELLULOSA AKTIEBOLAGET)
- 12.8 DEROYAL INDUSTRIES, INC.
- 12.9 DJO FINANCE LLC (A SUBSIDIARY OF COLFAX CORPORATION)
- 12.10 MEDI GMBH & CO. KG
- 12.11 OSSUR HF
- 12.12 OTTOBOCK HEALTHCARE (A PART OF OTTOBOCK GROUP SCANDINAVIA)
- 12.13 REMINGTON PRODUCTS COMPANY
- 12.14 THUASNE GROUP
- 12.15 TRULIFE
- 12.16 ZIMMER BIOMET HOLDINGS, INC.
Business Overview, Products Offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
13 APPENDIX
- 13.1 DISCUSSION GUIDE
- 13.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 13.3 RELATED REPORTS
- 13.4 AUTHOR DETAILS
