Orthopedic Braces & Supports Market by Product, Type, Material, Application, End-User

Description

List of Tables

[188 Pages Report] The Orthopedic Braces & Supports Market size was estimated at USD 5.25 billion in 2023 and expected to reach USD 5.52 billion in 2024, at a CAGR 5.39% to reach USD 7.58 billion by 2030.

Orthopedic braces and supports are medical devices designed to address musculoskeletal issues. They offer support, stabilize, protect, and correct injuries or abnormalities on various body parts, including the knees, back, neck, elbows, wrists, and ankles. The rising prevalence of orthopedic diseases and disorders, the growing participation in sports and physical activities leading to sports injuries, and the growing global elderly population susceptible to osteoarthritis and similar conditions propel the growth of the orthopedic braces and supports market. Technological advancements in materials and design, such as lighter, more durable braces and emphasizing prevention and rehabilitation in sports medicine, offer significant opportunities for market expansion. However, the market faces challenges, including competitive pricing pressure from low-cost manufacturers and a lack of awareness and adoption in emerging economies. The complexity of reimbursement scenarios and stringent regulatory requirements for approving orthopedic devices also pose challenges. Nevertheless, the increasing demand for innovative and less intrusive support solutions and rising healthcare expenditure worldwide presents a promising landscape for the future growth of the orthopedic braces and support market.

KEY MARKET STATISTICS
Base Year [2023]	USD 5.25 billion
Estimated Year [2024]	USD 5.52 billion
Forecast Year [2030]	USD 7.58 billion
CAGR (%)	5.39%

Product: Burgeoning usage of hand & wrist braces & supports for individuals experiencing carpal tunnel syndrome, arthritis, or injuries

Ankle braces & supports are designed to provide stability, support, and relief to the ankle following injury or surgery. These devices can also be used preventatively by athletes or individuals with weak ankles to avoid sprains and strains. Elbow braces and supports offer compression, support, and heat retention to alleviate pain from conditions such as tennis elbow, golfer's elbow, and other overuse injuries. They promote healing and prevent further injury by stabilizing the joint. Facial braces & supports are primarily used after surgeries or to address congenital conditions; facial braces are critical in providing the necessary support for facial bones to heal correctly and maintain proper alignment. Foot walkers and orthoses are designed to support the foot and ankle, allowing for proper healing after injury while providing mobility. They range from shoe inserts for daily wear to more rigid structures that immobilize the foot during recovery. Hand & wrist braces & supports are essential for individuals experiencing carpal tunnel syndrome, arthritis, or injuries. They stabilize the wrist and hand, relieving pain and preventing further injury by restricting unnecessary movement. Hip, back & spine braces & supports are essential for post-operative support, injury recovery, or chronic pain management, these braces and supports provide stability to the critical regions of the body's core. They range in design from lumbar supports to full-body braces encompassing the torso. Lower spine braces & supports specifically targeting the lumbar region, lower spine braces offer support and pressure relief for individuals suffering from lower back aches, sciatica, herniated discs, and other lumbar issues. They promote correct posture and spinal alignment. Neck and cervical supports are crucial for the recovery from neck injuries and surgeries and for alleviating chronic conditions, including cervical spondylosis. They stabilize the neck, maintaining alignment and reducing pain. Knee braces are designed for individuals recovering from surgery, suffering from osteoarthritis, or requiring additional support during athletic activities. They range from simple sleeves to complex structures, providing lateral stability and movement control. Shoulder braces & supports offer stabilization to the shoulder following injury or surgery or to alleviate symptoms of chronic conditions, including tendinitis. Shoulder braces help limit movement, thus ensuring a stable environment for healing.

End-User: Increasing use of orthopedic braces & supports by orthopedic clinics

Hospitals and surgical centers are critical in providing immediate and post-surgical care, including rehabilitation and support for patients recovering from orthopedic surgery or trauma. The utilization of orthopedic braces and supports in this setting aims to enhance patient recovery, ensure stability in the injured area, and prevent further injury during the healing process. The demand in hospitals and surgical centers is driven by the need for high-quality, durable, and adjustable braces that can accommodate the varying needs of patients. Customizable and prefabricated options are essential, catering to various orthopedic conditions and post-operative support requirements. Orthopedic clinics are specialized healthcare facilities that diagnose, treat, and manage musculoskeletal system issues. In these settings, orthopedic braces and supports play a pivotal role in the non-surgical treatment of various conditions, such as sprains, strains, dislocations, and postural disorders. The demand in orthopedic clinics is characterized by a need for a diverse range of products that cater to different parts of the body, such as knees, wrists, ankles, back, and neck. These establishments prioritize braces and supports that offer optimal support, are comfortable for long-term wear, and can be easily adjusted by patients or healthcare professionals. Innovations in material and design that improve patient outcomes and compliance are particularly valued in orthopedic clinics.

Regional Insights

The Americas represents a significant orthopedic braces & support market due to high healthcare expenditure, a growing geriatric population, and a rising prevalence of orthopedic conditions. Innovation and technological advancements drive the demand, with customers inclined towards lightweight, durable, and customizable solutions. Recent investments in startups focusing on smart wearable tech reflect the trend toward products offering enhanced usability and data analytics for patients and healthcare providers. Asia-Pacific is experiencing rapid growth due to its large population and increasing awareness of orthopedic conditions. Government initiatives to enhance healthcare infrastructure and access to orthopedic devices drive demand, with a notable inclination towards affordable, locally manufactured products. High healthcare standards and a preference for technologically advanced products fuel the demand. Vendors are investing in research to develop innovative solutions that offer enhanced functionality and comfort. The EMEA region presents a diverse market landscape, with EU countries focusing on high-quality, sustainable products, robust healthcare systems, and consumer awareness. Contrastingly, the Middle East and Africa have varying demands influenced by economic disparity, healthcare access, and cultural factors. Increased healthcare investments and initiatives to improve public health infrastructure drive a growing market for essential to high-end support.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Orthopedic Braces & Supports Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Orthopedic Braces & Supports Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Orthopedic Braces & Supports Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Alcare Co., Ltd., Bauerfeind AG, Becker Orthopedic, Breg, Inc., BSN medical GmbH, Corflex, Inc., DeRoyal Industries, Inc., DJO Global, Frank Stubbs Co., Inc., Hanger, Inc., Integra LifeSciences Corporation, Medi GmbH & Co. KG, Medtronic PLC, Mueller Sports Medicine, Inc., Neo G, OrthoPediatrics Corp., Ottobock Holding GmbH & Co. KG, Remington Products Company, Shock Doctor, Inc., Spenco Medical Corporation, Stryker Corporation, Thuasne Group, Trulife Group Limited, Vista Medical Ltd., Zimmer Biomet Holdings, Inc., and Ossur Hf.

Market Segmentation & Coverage

This research report categorizes the Orthopedic Braces & Supports Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Ankle Braces & Supports
- Elbow Braces & Supports
- Facial Braces & Supports
- Foot Walkers & Orthoses
- Hand & Wrist Braces & Supports
- Hip, Back & Spine Braces & Supports
  - Lower Spine Braces & Supports
  - Neck & Cervical Spine & Supports

Knee Braces & Supports
Shoulder Braces & Supports

Type
- Hard Braces & Supports
- Hinged Braces & Supports
- Soft & Elastic Braces & Supports

Material
- Fabric
- Metal
- Neoprene
- Plastic
- Silicone

Application
- Compression Therapy
- Ligament Injury
  - Anterior Cruciate Ligament Injury
  - Lateral Collateral Ligament Injury

Osteoarthritis
Post-Operative Rehabilitation
Preventive Care

End-User
- Hospitals & Surgical Centres
- Orthopedic Clinics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Orthopedic Braces & Supports Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Orthopedic Braces & Supports Market?

3. What are the technology trends and regulatory frameworks in the Orthopedic Braces & Supports Market?

4. What is the market share of the leading vendors in the Orthopedic Braces & Supports Market?

5. Which modes and strategic moves are suitable for entering the Orthopedic Braces & Supports Market?

Product Code: MRR-374DB5A06678

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising prevalence of orthopedic disorders
  - 5.1.1.2. Increasing participation in sports and physical activities
  - 5.1.1.3. Growing global elderly population susceptible to osteoarthritis
- 5.1.2. Restraints
  - 5.1.2.1. High cost and product recall cases of orthopedic braces & supports
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in materials and design of orthopedic braces & supports
  - 5.1.3.2. Integration of telehealth with increased sales of off-the-shelf and online products
- 5.1.4. Challenges
  - 5.1.4.1. Stringent regulatory requirements for the approval of orthopedic devices with reimbursement scenario complexities
5.2. Market Segmentation Analysis
- 5.2.1. Product: Burgeoning usage of hand & wrist braces & supports for individuals experiencing carpal tunnel syndrome, arthritis, or injuries
- 5.2.2. End-User: Increasing use of orthopedic braces & supports by orthopedic clinics
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Orthopedic Braces & Supports Market, by Product

6.1. Introduction
6.2. Ankle Braces & Supports
6.3. Elbow Braces & Supports
6.4. Facial Braces & Supports
6.5. Foot Walkers & Orthoses
6.6. Hand & Wrist Braces & Supports
6.7. Hip, Back & Spine Braces & Supports
6.8. Knee Braces & Supports
6.9. Shoulder Braces & Supports

7. Orthopedic Braces & Supports Market, by Type

7.1. Introduction
7.2. Hard Braces & Supports
7.3. Hinged Braces & Supports
7.4. Soft & Elastic Braces & Supports

8. Orthopedic Braces & Supports Market, by Material

8.1. Introduction
8.2. Fabric
8.3. Metal
8.4. Neoprene
8.5. Plastic
8.6. Silicone

9. Orthopedic Braces & Supports Market, by Application

9.1. Introduction
9.2. Compression Therapy
9.3. Ligament Injury
9.4. Osteoarthritis
9.5. Post-Operative Rehabilitation
9.6. Preventive Care

10. Orthopedic Braces & Supports Market, by End-User

10.1. Introduction
10.2. Hospitals & Surgical Centres
10.3. Orthopedic Clinics

11. Americas Orthopedic Braces & Supports Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Orthopedic Braces & Supports Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Orthopedic Braces & Supports Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Enovis Introduces the DonJoy ROAM OA Knee Brace
- 14.3.2. OrthoPediatrics Corp. Announces Launch of Specialty Bracing Division
- 14.3.3. Breg Partners with Correal International to Provide Orthopedic Products to Physicians & Patients in China
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio