Global Market for Orthopedic Braces & Support, Casting and Splints
Dublin, Aug. 31, 2022 (GLOBE NEWSWIRE) -- The "Orthopedic Braces & Support, Casting and Splints - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Orthopedic Braces & Support, Casting and Splints Market to Reach US$7.8 Billion by the Year 2026
The market is witnessing an increased demand from the geriatric population, which is very sensitive in regards to musculoskeletal illnesses. Also, increased sports activities pertaining to fitness that include biking and running among health conscious people is leading to increase in muscle pain, sports injuries and ligament wounds; thereby increasing demand pertaining to orthopedic braces and supports. Additionally, athletes utilize orthopedic braces for preventing additional injuries during their sports; thereby restricting undesired motion while playing games and enabling easy playing. Increasing government expenditure and awareness in regards to growth within healthcare is expected to provide immense growth opportunities for the orthopedic braces and supports market in future.
Amid the COVID-19 crisis, the global market for Orthopedic Braces & Support, Casting and Splints estimated at US$6.1 Billion in the year 2022, is projected to reach a revised size of US$7.8 Billion by 2026, growing at a CAGR of 5.7% over the analysis period.
The U.S. Market is Estimated at $2 Billion in 2022, While China is Forecast to Reach $1.1 Billion by 2026
The Orthopedic Braces & Support, Casting and Splints market in the U.S. is estimated at US$2 Billion in the year 2022. The country currently accounts for a 32.71% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.1 Billion in the year 2026 trailing a CAGR of 7.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.6% respectively over the analysis period.
Splinting Supplies & Equipment Segment to Reach $1.5 Billion by 2026
Growth in the splinting supplies segment is being driven by increasing incidences of road accidents and musculoskeletal injuries; a growing population base comprising people above the age of 65 and the prevalence of orthopedic complications associated with aging; advancements in technology and the use of advanced materials by manufacturers; and the ability of these products to enhance patient compliance in terms of secured support and comfort over the course of the entire treatment.
Select Competitors (Total 146 Featured):
Bird & Cronin, LLC
DeRoyal Industries, Inc.
Medi GmbH & Co. KG
Orfit Industries N.V.
Ottobock SE & Co. KGaA
Prime Medical, Inc.
Spencer Italia S.r.l.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Aging Population and the Associated Orthopedic Disorders Drive the Demand for Orthopedic Braces & Support, Casting and Splints Market
Rise in Healthcare Expenditure to Drive Growth
Rising Incidence of Musculoskeletal Disorders - A Key Propeller of Orthopedic Braces, Casting and Splints Market
Rising Incidents of Sports Injuries Stirs Demand for Orthopedic Braces
Increase in Number of Fractures and Rise in incidence of Delayed Union & Nonunion Bone Fractures Elevates Demand for & Support, Casting and Splints
Growing Incidence of Osteoporosis Drives the Orthopedic Braces Market
Orthopedic Braces & Support, Casting and Splints Find Increasing Demand in Treatment of Osteoarthritis and Rheumatoid Arthritis
Orthopedic Braces Find Increasing Usage in Spinal Fusion
Epidemic Proportion of Obesity Fuels the Demand for Orthopedic Braces & Support, Casting and Splints
Global Obesity Epidemic: Percentage of Overweight, Obese, and Severely Obese Adults for 2014 & 2025
Technological Advancements Drive Market Growth
Greater Affordability of the Orthopedic Braces to Spur Market Expansion
Online and Retail Channels for Orthopedic Braces Witness Increased Popularity
Limited Availability of Curated Orthopedic Braces and Support - A Concern
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/ulcu1m
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