21st January 2021 – The global orthopaedic braces and supports market size was worth USD 3.1 billion in 2015 which is anticipated
to grow at a CAGR of more than 6.7% during the forecast period. Increasing
prevalence of arthritis is one of the leading cause of the growth of orthopedic
braces and supports market. It is the most common form of arthritis which
affects the population of all ages. According to the Centers for disease
Control and Prevention, in 2015, 30 million US adults were estimated to suffer
from osteoarthritis. It is estimated that 54.4 million of the US adults are
affected with some form of arthritis. People with arthritis are the major
target for orthopedic braces and supports. The second most common form of
arthritis is rheumatoid arthritis which cause muscle pain.
Increase in geriatric population is one of the primary driver
for the growth of the market. This population is highly affected by musculoskeletal
disorders. According to International Osteoporosis Foundation, osteoporosis and
low bone mass is a major threat to around 44 million U.S. men and women of age
50 and older. Approximately, 30% of the post-menopausal women suffer from
osteoporosis in the US. Weakening of bones, connecting tissues such as
cartilages and ligaments with age increases the risk of muscle injury in knees
and shoulders. This supports the increasing need of orthopedic braces and
supports.
Sports related injuries are increasing with the increase in
participation of people of different ages in various sports activities.
Athletes are engaged in fitness related activities such as cycling, running,
and others. While performing health benefit related activities, athletes tend
to sustain injuries which may give rise to ligament injuries. Athletes involved
in indoor health activities are at high risk of ligament tear. This generates
the demand for ankle braces. These products help to restrict the movement of
affected part thereby making the healing process faster. Orthopedic braces help
athletes to protect themselves from further injury. It helps to restrict the
movement of the unwanted part during any activity, thereby facilitating a
convenient play.
Access
Orthopedic Braces and Supports Market Report with TOC
@ https://www.millioninsights.com/industry-reports/orthopedic-braces-supports-market
Knee supports and braces segment held the largest market share
in 2015, due to a large number of people affected by knee joint and related
injuries. Knee braces helps in pressure relief from the joints that are
affected by arthritis. Foot and ankle braces are anticipated to show lucrative
growth over the forecast period. This is due to the rising number of
participation in sports related activities by people of all age group. The
increasing number of participants in Paralympics also supports the growth of
the market. Upper extremity supports and braces segment are also expected to
grow at a significant rate in near future.
On the basis of end use, the market is segmented into hospitals,
orthopedic clinics, Over-the-Counter (OTC), and other facilities. Orthopedic
clinics contributed to the largest market share in 2015, due to reluctance of
patients to visit specialty clinics for acute musculoskeletal disorders. OTC
segment is expected to witness an attractive growth over the forecast period as
the orthopedic braces and supports are easily available in retail pharmacies.
OTC products do not require any prescription of doctor, so patients with acute
muscle problems prefer OTC products.
North America held the largest market share in 2015, due to the
rising prevalence of arthritis in the U.S. People are at a high risk of
osteoporosis in the U.S. due to increase in geriatric and obese population.
Increased participation in sports related activities in conjunction with rise
in awareness level among people related to orthopedic braces and supports is expected
to further support market growth. Asia Pacific is expected to exhibit fastest
growth over the forecast period. This is due to the rise in geriatric
population in the region which in turn increases the demand for orthopedic
braces and supports, thereby accentuating the growth of the market.
Few major companies of the market include DJO Global, Inc.;Breg,
Inc.;Alcare Company Ltd.;Bauerfeind AG;Össur Corporate; McDavid Knee Guard,
Inc.; FLA Orthopedics, Inc.; Otto Bock Healthcare GmbH; and Frank Stubbs Co.,
Inc. The key players are focusing on strategic initiatives such as mergers,
acquisitions, new product development, and regional expansions. For instance,
in 2015, Merz North America acquired ON Light Sciences, Inc., a company
specializing in laser-based dermatology with an aim to expand its esthetic
product portfolio. These companies are also concentrating on the manufacture of
customized braces & supports to cater to the individual needs of the
patients.
Request
a Sample Copy of Orthopedic Braces and Supports Market Report @ https://www.millioninsights.com/industry-reports/orthopedic-braces-supports-market/request-sample
Comments
Post a Comment