Orthopedic Braces and Supports Market Strategies With Forecasts to 2025

 

Global "Orthopaedic braces and supports Market" 2025 Industry research report covers the industry overview with Marketplace Size, Share, Development, futuristic cost, earnings, demand and distribution data. Its vast repository offers an analytical summary of the marketplace that can help to the new and existing player to take a significant decision.

 

In this report, we thoroughly examine and analyse the Global market for Orthopaedic braces and supports so that market participants can improve their business strategy and ensure long-term success. This report provides players with useful information and suggests result-based ideas to give them a competitive advantage in the global Orthopaedic braces and supports industry. It will show how other players compete in the global Orthopaedic braces and supports Market and explain the strategies you use to differentiate yourself from other participants.

 

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Industry Insights

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 theCentres 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.

 

End use Insights

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 speciality 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.

 

Regional Insights

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.

 

Competitive Insights

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.

 

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