Orthopedic Braces and Supports Market

Orthopedic Braces and Supports Market Size

Orthopedic Braces and Supports Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 4.1 billion and is projected to reach USD 8.9 billion by the completion of 2034.

Orthopedic braces and supports are devices that help to align and support different elements of the musculoskeletal system. They are used to treat injuries and deformities such as fractures, sprains, arthritis, and post-operative rehabilitation. In addition, braces offer external support to joints and bones, thus helping in relieving pain and promoting healing. These materials are composed of materials such as metal, plastic, and fabric, which can be designed or purchased off the shelf. Furthermore, they play an important role in the rehabilitation and prevention of injuries by increasing mobility and functionality. Besides, orthopedic braces and supports are usually used in medical settings and daily activities to help recover patients and maintain their quality of life.

Market Highlights

Orthopedic Braces and Supports Market is expected to grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2034

Orthopedic braces and supports market is expected to reach USD 8.9 billion during the forecast period, as it contains a wide range of products that improve muscle function and recovery from injuries. This industry consists of devices such as knee braces, back supports, wrist braces, and ankle supports, each with a dedicated therapeutic function. In addition, innovations in materials and technology, like smart braces with sensors and 3D-printed personalized options, are boosting the efficacy of the products. Therefore, the orthopedic braces & supports market is driven by high awareness of musculoskeletal health, an increase in sports injuries, and a growing demand for medical treatments. As a result, the industry is growing, with a focus on improving the comfort and treatment outcomes for patients.

Source: Fatpos Global

Orthopedic Braces and Supports Market Segmentation

Knee Brace segment will lead the industry owing to its usefulness and demand

Orthopedic braces and supports market is classified based on the Product into Knee, Shoulder, Ankle, Hand, and Elbow. The knee brace segment dominates the orthopedic braces & supports market due to its massive applicability and demand. Knee braces are important for treating several ailments, such as arthritis, ligament injuries, and post-operative recuperation. They give important support and stability, which is essential for people who participate in physical activities and sports. Besides, knee-related concerns and injuries, along with the knowledge of treatment methods, are driving the growth of the knee brace segment. Additionally, various innovations in knee brace technology, like better materials and adaptable designs, have increased their attractiveness as well as adoption.

Soft Braces segment will lead the market due to its flexibility and ease of usage

Orthopedic braces and supports market is divided by Type into Soft, Hinged, and Hard. The soft braces segment is anticipated to lead the orthopedic braces and supports market due to its affordability and comfort. Soft braces are flexible and simple to use, which makes them suitable for several diseases like arthritis, sports injuries, and post-surgical support. They improve the comfort of patients since they are lightweight and offer customizable compression. Furthermore, soft braces provide adequate support for mild to moderate conditions and can be used every day. Besides, the dominance of the soft braces segment can be attributed to their vast usefulness and ability to address needs in injury prevention and rehabilitation.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Rising Incidence of Musculoskeletal Disorders is Driving Growth in the Orthopedic Braces and Supports Market

Demand for orthopedic braces & supports is driven by the high number of cases of musculoskeletal illnesses, such as osteoporosis and sports-related injuries. People are living more active lives, which increases the likelihood of injuries, so there is a growing demand for effective management and treatment solutions. Additionally, orthopedic braces help those with these disorders by reducing pain and improving their quality of life. Moreover, the market is expanding due to the rising number of patients, as consumers and healthcare providers look for products that improve mobility and give relief. Alongside this, the need for these assistive devices is driven even further by the trend toward early intervention and preventative treatment.

Growing Awareness and Prevention Focus Act as a Catalyst for Market Growth

Orthopedic braces and supports market is expanding as a result of the high emphasis on preventative treatment and health awareness. People are using braces and supports frequently as they become more aware of the need to maintain good musculoskeletal health and prevent injuries. Orthopedic supports are crucial for managing pre-existing conditions and preventing injuries, as highlighted by health programs and educational campaigns. Furthermore, the demand for braces and supports is boosted by this growing awareness, as more people and organizations purchase these items to preserve health and avoid potential issues.

Restraints

High Cost of Advanced Products in the Market Will Impact the Growth

One major drawback of advanced orthopedic braces and supports is their high cost when it comes to models that include new technology or personalized features. Although these products provide better results and more functionality, some patients may find it difficult to afford them. This restriction is important for people without full insurance coverage or for areas with tight healthcare budgets. Furthermore, the cost-conscious population may be less likely to use modern braces due to cost concerns, which can limit market penetration.

Recent Developments

• On May 15, 2023, Breg announced the launch of their new "Breg Fusion” knee brace designed for improved stability and comfort.
• On January 10, 2024, DJO Global introduced the "DonJoy X4" knee brace, featuring advanced brace technology and customizable fit.
• On February 20, 2024, Ottobock released a new line of "Genium X3" prosthetic devices incorporating the latest smart technology for enhanced mobility and user experience.
• On September 5, 2023, Zimmer Biomet launched a "ROSENDAAL® Shoulder System" to enhance surgical precision and post-operative outcomes for shoulder injuries.
• On April 3, 2024, Stryker unveiled the "Mako SmartRobotics" system for orthopedic surgery, aiming to improve accuracy in joint replacement procedures.

Orthopedic Braces and Supports Market

Key Players:

• Breg, Inc.
• DonJoy (DJO Global, Inc.)
• Ottobock
• Zimmer Biomet
• DeRoyal Industries, Inc.
• 3M Healthcare
• Aircast (DJO Global, Inc.)
• Stryker Corporation
• Hanger, Inc.
• Orthofix International
• Medi GmbH
• Corflex
• Bauerfeind AG
• Becker Orthopedic
• Silipos, LLC
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Orthopedic Braces and Supports Market is segmented based on regional analysis into five key regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America is anticipated to lead the orthopedic braces and supports market due to its highly developed healthcare system and massive healthcare spending. Orthopedic solutions are in great demand due to the well-established healthcare systems of the region, along with the high frequency of musculoskeletal ailments and sports injuries. Moreover, North America leads the industry in terms of research and development as well as the existence of large industry players.

Europe will witness significant growth in the next years as healthcare investments across Europe are growing, along with the awareness of musculoskeletal health. Furthermore, the adoption of advanced orthopedic technologies and upgrades of the healthcare system in European countries has resulted in a further increase in demand. Besides, partnerships between companies and healthcare institutions are encouraged as well.

Source: Fatpos Global

Impact of COVID-19 on the Orthopedic Braces and Supports Market

Orthopedic braces and supports market was greatly affected by the COVID-19 epidemic as it presented opportunities as well as challenges. The demand for orthopedic items temporarily declined during the pandemic as a result of the cancellation of multiple elective and non-urgent treatments. The availability of products was also impacted by manufacturing limitations and supply chain disruptions. On the other hand, the epidemic boosted the use of telemedicine and remote consultations, thereby opening new business prospects. Furthermore, the surge in self-care and home-based rehabilitation during lockdowns raised the demand for easily available orthopedic solutions.

Orthopedic Braces and Supports Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and the Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Orthopedic Braces and Supports Market Scope and Segments:

Frequently Asked Questions (FAQ):