Dublin, Dec. 28, 2020 (GLOBE NEWSWIRE) -- The "Latin America Orthopedic Garments, Soft Goods and Braces Market Research Report: By Type (Vests, Socks, Pantyhose, Masks, Sleeves, Supports and Braces), Use Area (Knee, Ankle, Elbow, Hand/Wrist, Shoulder, Neck), Gender (Men, Women) - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Latin American (LATAM) orthopedic garments market is projected to reach a value of $376.3 million in 2030, increasing from $223.1 million in 2019, progressing at a 5.2% CAGR during the 2020-2030.
The market is growing due to the rising burden of orthopedic diseases, presence of major physiotherapists in the region, easy product availability and affordability, and increasing geriatric population. The LATAM orthopedic soft goods & braces market reached $177.4 million in 2019, and is projected to register 4.9% CAGR during the forecast period.
On the basis of type, the market is divided into supports & braces, bests, sleeves, masks, socks, and pantyhose, out of which, the largest revenue share is predicted to be occupied by the braces and support category in 2030. These products are used widely by patients suffering from orthopedic disabilities and disorders. In addition to this, these products are also being utilized in rehabilitation, after orthopedic surgeries are conducted.
When use area is taken into consideration, the LATAM orthopedic soft goods & braces market is divided into knee, shoulder, ankle, neck, hand/wrist, and elbow. Among all these, the knee division dominated the market in the past and is expected to grow at the fastest pace during the forecast period. These products are available easily for knee injuries, discomfort, and disorders. Furthermore, these products are also being utilized by people suffering from arthritis and sports injuries. These factors are driving the growth of this category.
Considering the geographical scenario, Brail accounted for the largest share of the LATAM orthopedic garments market during the historical period (2014-2019). The country is further expected to register the highest CAGR during the forecast period, owing to the presence major players and increasing prevalence orthopedic diseases. The rising awareness regarding the preventive orthopedic care is also predicted to result in the rising demand for orthopedic garments in the country in the coming years.
A key trend being witnessed in the LATAM orthopedic garments market is the advancements in orthopedic products. As the incidence or orthopedic disorders and diseases is rising, the advancements in different orthopedic products, including soft goods, garments, and braces, are increasing as well. According to the data by Orthopedics Design & Technology magazine, 2019, the advancements that have been introduced in orthopedic braces and soft goods have proven to be extensively useful for patients.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope (Orthopedic Garments Market)
1.4 Research Scope (Orthopedic Soft Goods and Braces Market)
1.5 Analysis Period
1.6 Market Data Reporting Unit
1.7 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Baseline Methodology
2.4 Market Size Estimation
2.5 Data Triangulation
2.6 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition - Orthopedic Garments Market
4.1.1 By Type
220.127.116.11 Supports and braces
4.1.2 By Use Area
4.1.3 By Gender
4.2 Definition - Orthopedic Soft Goods and Braces Market
4.2.1 By Type
4.3 Market Dynamics
18.104.22.168 Advancements in the orthopedic products
22.214.171.124 Growing burden of orthopedic diseases
126.96.36.199 Rising healthcare expenditure
188.8.131.52 Surging geriatric population
184.108.40.206 Rising number of sports and road accidents
220.127.116.11 Initiatives by public and private organizations to raise awareness about orthopedic surgeries
18.104.22.168 Cost-effectiveness of hip replacement and knee replacement surgeries
22.214.171.124 Presence of a large number of physiotherapists
126.96.36.199 Easy product affordability and availability
188.8.131.52 Growing awareness related to preventive care
184.108.40.206 Impact analysis of drivers on the market forecast
220.127.116.11 Weak focus on epidemiological studies
18.104.22.168 Limited clinical evidence to support therapeutic efficacy of products and effectiveness of road safety programs
22.214.171.124 Limited options to customize OTC orthopedic braces and supports
126.96.36.199 Impact analysis of restraints on the market forecast
188.8.131.52 Product sales through e-commerce
184.108.40.206 Marketing initiatives to create brand awareness and boost product sales
4.4 Porter's Five Forces Analysis
4.5 Impact of COVID-19
Chapter 5. LATAM Market Size and Forecast
5.1 Orthopedic Garments Market
5.1.1 By Type
5.1.2 By Use Area
5.1.3 By Gender
5.1.4 By Country
5.2 Orthopedic Soft Goods and Braces Market
5.2.1 By Product
5.2.2 By Type
5.2.3 By Country
Chapter 6. Brazil Market Size and Forecast
Chapter 7. Mexico Market Size and Forecast
Chapter 8. Argentina Market Size and Forecast
Chapter 9. Colombia Market Size and Forecast
Chapter 10. Chile Market Size and Forecast
Chapter 11. Peru Market Size and Forecast
Chapter 12. Ecuador Market Size and Forecast
Chapter 13. Competitive Landscape
13.1 Brand Mapping
13.1.1 Orthopedic Garments, Soft Goods & Braces Market
13.2 Strategic Developments
13.2.1 Product Launches and Approvals
Chapter 14. Company Profiles
DeRoyal Industries Inc.
Johnson & Johnson
Smith & Nephew PLC
Integra LifeSciences Holdings Corporation
Wright Medical Group N.V.
DJO Global Inc.
Ottobock SE & Co. KGaA
medi GmbH & Co. KG
Remington Products Company
Zimmer Biomet Holdings Inc.
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