Global Orthopaedic Braces & Supports Market Ascends at a Noteworthy CAGR of 6.48 %

Introduction

The global Orthopaedic Braces & Supports Market was valued at USD 4.11 billion in 2021 and is projected to reach USD 7.23 billion by 2030 at a CAGR of 6.48% from 2022 to 2030.

In order to hold, align, correct, and support specific body parts as they heal following an injury, braces and supports are Orthopaedic devices that are used externally. The knee, spine, foot, ankle, upper elbow, shoulder, hip, and other body parts receive intensely targeted support from their intelligently designed manufacturing process, which also incorporates specialist materials. Patients with musculoskeletal conditions can feel more mobile thanks to braces and supports, which also help protect joints following operations.

Market Dynamics

Financial affordability and easy accessibility drive the market

Orthopaedic braces are becoming more popular among patients in both developed and developing countries since they are inexpensive and simple to obtain. Musculoskeletal injuries like sprains, ligament tears, and fractures are frequently brought on by sports and other physical activity. As a result, these conditions are more common as a result of the growing public involvement in such activities. For illnesses like rheumatoid arthritis, osteoporosis, gout, and fractures, Orthopaedic braces and supports are rapidly being viewed as a clinically effective alternative to Orthopaedic operations. The clinical management of Orthopaedic injuries is a topic that many public-private sports groups and medical experts are working to raise public knowledge of through events like conferences, workshops, and symposiums.

A sedentary lifestyle is driving the market

Because obesity and lifestyle-related disorders are becoming more common, and because obese people are more likely to suffer from Orthopaedic and musculoskeletal injuries as well as diabetes, it is anticipated that the incidence of Orthopaedic diseases and disorders will rise further in the coming years. When compared to conventional solutions, Orthopaedic braces and supports have a number of advantages over the latter, including improved patient comfort, higher efficacy, and better pricing. Due to these advantages, major firms are creating specialised products more frequently to meet unmet market demands as well as to cure a variety of Orthopaedic illnesses.

Customization and product alteration will bring in new opportunities

In order to customise or modify the product in accordance with patient features, certain Orthopaedic braces can only be worn under the supervision of medical professionals or Orthopaedic technicians. However, since their use doesn't necessitate supervision, several braces (including ankle, wrist/hand, shoulder, elbow, and facial braces) are increasingly being sold by shops and e-commerce websites. Patients frequently use these items to shield themselves from harm.

Major product manufacturers are launching strategic activities to raise their brand awareness and product awareness among important end users (such as medical professionals, patients, and physiotherapists) throughout key healthcare markets globally.

Regional Analysis

In 2021, the market for Orthopaedic braces and supports was dominated by North America. Due to the existence of significant players and hospitals with cutting-edge technology in the U.S. and Canada, it owned a sizable portion of the North American region. The second-largest market share was held by Europe as a result of an ageing population and the prevalence of chronic diseases that lead to an increase in surgical procedures.

Nearly 17.2 million procedures were carried out in Germany in 2019, according to the Federal Statistical Office. The most frequent procedures among these were those involving the intestine, the spine, endoscopy, and hip implants. This is thought to increase the region's share.

The quickest CAGR of more than 9% is predicted to occur in the Asia Pacific during the coming several years. This is due to investments made by the businesses to increase their regional presence and create infrastructure for the healthcare industry. For instance, in January 2021, Sushruta Surgicals Pvt. Ltd., the company's local authorised representative, helped the All India Institute of Medical Sciences (AIIMS) in Bhubaneswar, India, purchase Medtronic accessories and consumables for cautery machines with vessel sealing. The items were created with the intention of supplying the Institute's Surgical Oncology Department.

Key Highlights

• The global Orthopaedic Braces & Supports Market was valued at USD 4.11 billion in 2021 and is projected to reach USD 7.23 billion by 2030 at a CAGR of 6.48% from 2022 to 2030.
• A sedentary lifestyle, financial affordability and easy accessibility are the driving factors of the market.
• This market can be segmented on the basis of products, end-users, regions and competitors.
• By 2030, North America is anticipated to have the largest market share, with Europe emerging as the fastest-growing market.

Competitive Players

1. ssur
2. BREG, Inc.
3. DeRoyal Industries, Inc.
4. Bauerfeind
5. DJO Global, Inc.
6. Otto Bock
7. Fillauer LLC
8. Frank Stubbs Company Inc.
9. McDavid
10. Hely & Weber

Recent Developments

Recent Developments

• In January 2023, Enovis Adds Procedure-Specific Staples to the DynaClip® Family, Growing Foot & Ankle Portfolio.
• In December 2022, the FDA approved Enovis' patient-specific STAR® Ankle instrumentation.
• In July 2022, a New fabrication company was founded by Fillauer and FabCo.

Segmentation

1. By Product
   1. Braces & Supports Type
      1. Knee Braces & Supports
         1. Knee Braces for Osteoarthritis and Ligament Injuries
         2. Post-operational Knee Braces
      2. Back Braces & Supports
         1. Upper Spine Orthoses
         2. TLSOs
         3. LSOs
         4. Others
      3. Ankle Braces & Supports
         1. Soft Braces
         2. Hinged Braces
      4. Walker Boots
         1. Pneumatic
         2. Non-pneumatic
      5. Upper Extremity Braces & Supports
         1. Elbow Braces & Supports
         2. Wrist Braces & Supports
         3. Others
      6. Others
   2. Pain Management Products
      1. Cold Therapy Products
      2. DVT Products
2. By End-User
   1. Orthopaedic Clinics
   2. Over the Counter (OTC)
   3. Hospitals
   4. DME DealersOthers