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Orthopaedic Bracing Devices Market Size, Competitive Landscape, Business Opportunities and Forecast to 2027
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Rising Incidence of Orthopaedic Disorders, Aging Population Pave New Avenues for Growth
There exists a higher possibility of complications such as osteoporosis and arthritis in the elderly, leading to acute discomfort, fractures, and dislocation. With the rapid increase in the world's elderly population, the occurrence of orthopaedic disorders is predicted to soar worldwide, and so will the demand for orthopaedic bracing devices. Orthopaedic braces are key to reducing pain and stimulating speedy recovery. Consequently, the demand for more comfort and minimum loss of mobility has driven manufacturers to produce advanced orthopaedic products. In the near future, the global orthopaedic bracing devices market is poised to expand amid the rising need for greater accessibility to orthopaedic bracing devices, better cost-efficiency, and the presence of a flourishing patient base. The cumulative force of these factors is envisaged to chart a stellar growth trajectory for the orthopaedic bracing devices market.
Upsurge in Sports Injuries Augments Sales of Orthopaedic Bracing Devices
With more people across the globe eagerly getting involved in different sports, the incidence of sports injuries has observed a sharp rise. As reported by Consumer Safety Product, most sports injuries between the age group of 5-14 years are caused by outdoor activities. These activities include skating, bicycling, playing basketball, ice hockey, and baseball. Experienced athletes are more prone to injuries such as strains, rotator cuff injury, hip flexor, sprains, and strained calf muscles. Hence, to strengthen the muscles and correct their structure, effective physiotherapy and orthopaedic bracing devices are incorporated into traditional treatments. Considering the increase in sports personnel with orthopaedic disorders, the sales of orthopaedic bracing devices are projected to surge exponentially. This business landscape is expected to provide higher prospects for growth and advancements in the orthopaedic bracing devices market.
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Consistent Uptick in Demand, Product Innovations Spur Tremendous Growth Across North America
North America is anticipated to sustain its dominance in the global orthopaedic bracing devices market. Widespread demand for orthopaedic braces, rising prevalence of orthopaedic disorders, and product innovations are key growth drivers in this region's orthopaedic bracing devices market. On the other hand, the Asia Pacific has emerged as a lucrative market owing to the growing geriatric population and incidence of chronic diseases. Besides, the rise in disposable income and a sound understanding of orthopaedic conditions amongst the general public are poised to expand the orthopaedic bracing devices market of the Asia Pacific.
Major Market Players
Prominent players operating in the orthopaedic bracing devices market include Zimmer Biomet Holdings, Thuasne Group, DJO Finance LLC, Bauerfeind AG, Essity,3M, Bird & Cronin LLC, Ottobock Holding GmbH, Breg, Inc, Ossur HF, ALCARE, and Nippon Sigmax Co., Ltd.
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By Product
• Knee Braces and Supports
• Ankle Braces and Supports
• Foot Walkers and Orthoses
• Hip, Back, And Spine Braces and Supports
• Neck & Cervical Spine Braces and Supports
• Lower Spine Braces and Supports
• Shoulder Braces and Supports
• Elbow Braces and Supports
• Hand & Wrist Braces and Supports
• Facial Braces and Supports
By Type
• Soft & Elastic Braces and Supports
• Hard Braces and Supports
• Hinged Braces and Supports
By Application
• Preventive Care
• Ligament Injury
• Anterior Cruciate Ligament Injury
• Lateral Collateral Ligament Injury
• Other Ligament Injuries
• Post-operative Rehabilitation
• Osteoarthritis
• Compression Therapy
• Other Applications
By Distribution Channel
• Hospitals and Surgical Centres
• Orthopaedic Clinics
• Pharmacies & Retailers
• E-commerce platforms
• Other End Users
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
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