Global Orthopedic Braces & Supports Market Size, Share & Industry Trends Analysis Report By Type, By End User, By Distribution Channel, By Application, By Regional Outlook and Forecast, 2022 – 2028

ReportLinker

The Global Orthopedic Braces & Supports Market size is expected to reach $5. 1 billion by 2028, rising at a market growth of 6. 3% CAGR during the forecast period. Orthopedic braces and supports are commonly found in orthopedic supplies, although they are frequently misinterpreted as a form of recuperative treatment.

New York, June 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Orthopedic Braces & Supports Market Size, Share & Industry Trends Analysis Report By Type, By End User, By Distribution Channel, By Application, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06283454/?utm_source=GNW
These are typically composed of rigid materials like hard plastics and soft materials like spandex, and are primarily used to immobilize joints so that they can heal in an effective position.

The use of orthopedic braces and support devices to increase the immobilization of the patient’s broken area is common after any type of bone fracture. Fractures, such as osteoporotic vertebral fracture, one of the most severe types of osteoporotic fractures, result in the widespread use of braces like the TLSO (Thoracic Lumbar Sacral Orthosis). Early diagnosis and demand for orthopedic braces and support systems are becoming one of the key driving drivers for this market in developed economies, due to rising disposable income and a higher acceptance rate of new technologies in hospitals and orthopedic clinics.

According to an article published in December 2020 titled "Vertebral Compression Fractures," around 1 to 1.5 million Vertebral Compression Fractures (VCF) happen each year in the United States alone. As per the age and sex-adjusted incidence, it’s predicted that 25% of women 50 and older have at least one VCF. Furthermore, the lifetime risk of hip, forearm, and vertebral fractures is approaching clinical attention in around 40% of the world, which is comparable to the risk of cardiovascular disease.

One of the main growth drivers is the rising incidence of osteoarthritis. It’s the most prevalent type of arthritis, and it affects people of all ages. By 2040, the Centers for Disease Control and Prevention (CDC) predicts that over 78 million adults in the United States over the age of 18 would have been diagnosed with arthritis. As a result, the orthopedic brace industry’s major customer base is persons with arthritis. Rheumatoid arthritis is another type of arthritis that affects the joints and causes muscle pain.

COVID-19 Impact

COVID-19 has had an impact on all aspects of different industries, including the orthopedic braces and supports market. The demand for orthopedic braces and supports varies greatly from one region to the next, owing to the pandemic’s massive influence on the economy and consumers’ purchasing power. COVID-19’s global spread has resulted in unprecedented limitations and interruptions in business and personal life. Many governments, for example, have issued "stay-at-home" directives for local business and personal activities. In addition, COVID-19’s direct impact, as well as the preventive and precautionary measures implemented as a result, have had a negative impact on, and are expected to continue to have an impact on, certain industry elements, such as operations, commercial organizations, supply chains, and distribution systems, and are expected to continue to have an impact.

Market Growth Factors

Rising Incidence of Orthopedic Diseases & Disorders

With the increased incidence of obesity and accompanying lifestyle problems, the frequency of orthopedic diseases and disorders is predicted to rise even more in the coming years, as obese people are at a higher risk of orthopedic and musculoskeletal injuries, as well as diabetes. Orthopedic braces and supports provide various advantages over traditional goods, including lower cost, improved efficacy, more patient comfort, and ease of use. Key companies are rapidly creating customized solutions for the treatment of various orthopedic ailments as well as to meet unmet market needs as a result of these benefits.

Rising Number of Injuries

The rising number of leg and knee injuries has resulted in a jump in sales of knee braces and supports. These injuries have risen due to the active participation of people in sports and other adventurous activities. Knee braces and supports are used to treat ailments such as sprained medial knee ligaments, anterior cruciate ligament (ACL) rupture, and posterior cruciate ligament (PCL) rupture after surgery. Knee braces relieve pressure on knee joints that have been impacted by arthritis. Knee braces and supports are most commonly used by those with arthritis and other joint-related ailments, athletes, and those who have had knee surgery.

Market Restraining Factors

Adoption of Pain Medications and Lack of Effectiveness

To effectively manage pain associated with musculoskeletal illnesses such as tendinitis, carpal tunnel syndrome, and osteoarthritis, topical, oral, and parenteral pain medicines are extensively used. Despite the fact that orthopedic braces are used as part of a noninvasive approach to pain management during compression therapy, the acceptance of pain medication for such applications is high due to a lack of awareness about the benefits of orthopedic braces and an unfavorable reimbursement scenario for these products, posing a challenge to this market. Wearing a brace can lead to the wearer treating the braced knee as injured and favoring the other, which can lead to joint stiffness. At first, a knee brace may feel heavy, bulky, and heated. It may slip due to a poor fit.

Type Outlook

Based on Type, the market is segmented into Soft & Elastic, Hard, and Hinged. The soft and elastic segment acquired the largest revenue share in the orthopedic braces and supports market in 2021. The expanding availability of improved goods, increasing adoption and patient choice for orthopedic braces in post-operative and preventative care, and the supportive reimbursement scenario for target products across mature countries are all contributing to the market growth of this segment.

Product Outlook

Based on Product, the market is segmented into Knee, Ankle, Foot Walkers & Orthoses, Elbow, Hand & Wrist, Shoulder, Hip, Back, & Spine, and Others. The ankle segment garnered a substantial revenue share in the orthopedic braces and supports market in 2021. Ankle fractures are among the most common types of trauma treated by orthopedic teams around the world. Pain and disability, as well as physical, psychological, and social variables, have a crucial role in the long-term repercussions. Overuse and repetitive action in the ankles produce stress fractures, which are especially frequent among sportsmen. As a result, the use of these ankle braces increases, supporting the segment’s growth and positively impacting the market’s growth.

Distribution Channel Outlook

Based on Distribution Channel, the market is segmented into Hospitals & Surgical Centres, Orthopedic Clinics, Pharmacies & Retailers, E-commerce platforms, and Others. The e-commerce platforms segment registered a significant revenue share in the orthopedic braces and supports market. Sales of soft & elastic and hinged orthopedic braces & supports have risen in demand due the popularity of e-commerce websites like Amazon. Users can order these braces and supports from the comfort of their home. The use of e-commerce as a distribution channel has also increased due to the government mandated lockdowns to tackle the pandemic.

Application Outlook

Based on Application, the market is segmented into Ligament Injury, Osteoarthritis, Compression Therapy, Preventive Care, Post-operative Rehabilitation, and Others. The ligament injury segment acquired the maximum revenue share in the orthopedic braces and supports market in 2021. The expanding public engagement in sports and athletic activities (combined with the rising frequency of sports-related injuries), the rising number of accidents globally, and the increasing availability of medical reimbursement for ligament injuries all contribute to this segment’s growth.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the largest revenue share in the orthopedic braces and supports market in 2021. The market for orthopedic braces and supports in North America is driven by factors such as the ongoing development and commercialization of novel orthopedic braces and support products, as well as favorable reimbursements and insurance coverage of major orthopedic bracing procedures in the region.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; 3M Company are the forerunners in the Orthopedic Braces & Supports Market. Companies such as Zimmer Biomet Holdings, Inc., DJO Global, Inc., Breg, Inc. are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DJO Global (Colfax Corporation), 3M Company, Essity AB, Ossur Hf., Orthofix Medical, Inc. (Breg, Inc.), Zimmer Biomet Holdings, Inc., Ottobock SE & Co. KGaA, Nippon Sigmax Co., Ltd., Bauerfeind AG, and Becker Orthopedic.

Recent Strategies deployed in Orthopedic Braces & Supports Market

Partnerships, Collaboration and Agreements

Dec-2021: DJO Global announced a partnership with PeekMed, a company that specializes in developing software. The partnership aimed at leveraging the strengths of DJO and its leading surgical business and PeekMed to create captivating value for the orthopedic market and consumers of both companies. In addition, the companies aimed to develop latest technological solutions for orthopedics with DJO.

Nov-2021: Breg came into an agreement with Aspen Medical Products, a dominant company involved in the design, development and marketing of upper and lower spinal orthopedics. The agreement was a five-year supplier agreement between the two companies to continue selling its innovating spinal portfolio.

Jul-2021: Zimmer Biomet Holdings entered into a partnership with OSSIS, a company that specializes in complex hip replacements like second-time hip replacements and replacements involving bone tumors and trauma. The partnership with Zimmer Biomet helped OSSIS enhance its capacity to support surgeons and patients alike and create a network across the Asia Pacific region of cutting-edge technology and expert capability.

Mar-2021: Zimmer Biomet teamed up with PrecisionOS, innovators of the Surgical Mastery Platform. The collaboration aimed to show their immersive reality project surrounding the American Academy of Orthopaedic Surgeons’ (AAOS) Innovation Series.

Feb-2021: Breg entered into a partnership with Club Warehouse, a distributor company based in Australia. The partnership aimed at expanding the accessibility of Breg’s premium, high-value orthopedic products to healthcare providers and patients across Australia.

Jul-2020: Breg entered into a partnership with Joint Operations, a distributor based in the UK. The partnership aimed to further expand the delivery of Breg’s premium, high-value orthopedic products in the UK/Ireland.

Product Launches and Product Expansions

Sep-2021: Össur released the REBOUND ACL brace, a brace created to dynamically decrease strain on a patient’s ACL. The brace was developed to help patients recovering from anterior cruciate ligament (ACL) injury. It offers clinically tested comfort that has been verified through clinical testing with load mapping data gathered during daily tasks.

Aug-2021: Zimmer Biomet Holdings along with Canary Medical released Persona IQ, a knee cap. Persona IQ is the world’s first smart knee cap approved by the FDA for total knee replacement surgery.

Oct-2020: 3M released PREVENA RESTOR AXIO•FORM Incision Management System, a product created to manage post-operative incisions, as well as the surrounding soft tissue envelope, following the orthopedic surgical repair of lower extremity fractures. This PREVENA RESTOR AXIO•FORM aids in the stabilization of the incision and surrounding soft tissue, as well as the reduction of edema and the improvement of post-operative recovery. In addition, PREVENA RESTORTM Therapy is the company’s third solution, which was launched in 2019 to improve post-surgery care and broaden the company’s specialty surgical capabilities.

Jun-2020: DJO unveiled DonJoy X-ROM, a novel post-operation knee brace. The X-ROM brace aids patients in recovering quicker from ACL repair and other knee surgeries with enhanced comfort, stability, and confidence with the help of DonJoy’s most advanced range of motion (ROM) protection and improved user-friendly design for easier, faster application and adjustment.

Acquisitions and Mergers

Dec-2021: Essity completed the acquisition of AquaCast Liner, a company based in the US offering waterproof cast liners. This acquisition aimed to help Essity strengthen its dominant market position in fracture management and allowed it to expand its offering in water-resistant and waterproof cast management.

Dec-2020: Zimmer Biomet Holdings acquired A&E Medical Corporation, a Vance Street Capital Portfolio Company. The acquisition helped Zimmer Biomet deliver an exhaustive suite of sternal closure products, including rigid fixation, which has the potential to shift the standard of care and meet numerous unmet patient and surgical needs.

Scope of the Study

Market Segments covered in the Report:

By Type

• Soft & Elastic

• Hard

• Hinged

By Product

• Knee

• Ankle

• Foot Walkers & Orthoses

• Elbow

• Hand & Wrist

• Shoulder

• Hip, Back, & Spine

• Others

By Distribution Channel

• Hospitals & Surgical Centres

• Orthopedic Clinics

• Pharmacies & Retailers

• E-commerce platforms

• Others

By Application

• Ligament Injury

• Osteoarthritis

• Compression Therapy

• Preventive Care

• Post-operative Rehabilitation

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• DJO Global (Colfax Corporation)

• 3M Company

• Essity AB

• Ossur Hf.

• Orthofix Medical, Inc. (Breg, Inc.)

• Zimmer Biomet Holdings, Inc.

• Ottobock SE & Co. KGaA

• Nippon Sigmax Co., Ltd.

• Bauerfeind AG

• Becker Orthopedic

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06283454/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001