Chicago, March 08, 2022 (GLOBE NEWSWIRE) -- According to Arizton's recent research report, the orthopedic braces and supports market is expected to grow at a CAGR of 4.74% during 2022−2027. In 2021, knee braces & supports segment accounted for the largest market share of 36.23%.
Orthopedic Braces & Supports Market Report Scope
| Report Attribute | Details | |
| Market Size (2027) | $4.42 Billion | |
| CAGR (2022-2027) | 4.74% | |
| Base Year | 2021 | |
| Forecast Period | 2022-2027 | |
| Largest Market | North America | |
| Fastest Market | APAC | |
| Market Segments | Braces & Support Type, Application, Distribution, and Geography | |
| Geographical Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa | |
| Countries Covered | US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Mexico, Argentina, Turkey, Saudi Arabia, and South Africa | |
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Key Highlights Offered in the Report:
- The presence of prominent market players, increasing musculoskeletal disorders, innovation and advancements in orthopedic braces and supports, high healthcare spending are the primary factors for the significant market share in the region.
- In 2021, North America was the major revenue contributor and accounted for more than one-third in the global market.
- The US alone contributes more than 90% in the North American orthopedic braces and support market.
- Knee Braces & Supports is the major contributor in the global Orthopedic braces & Supports market, and it is likely to witness high incremental growth of approximately $400 million in the next 5 years.
- The Orthopedic braces & Supports market is intensely competitive. Manufacturers compete directly with several companies based on factors, such as price, quality, compliance and innovation, product features and capabilities.
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, type, application, distribution, and geography
- Competitive Landscape – 7 key vendors and 21 Other prominent vendors are profiled in the report
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Orthopedic Braces & Supports Market – Trends & Opportunities
3D printing is gaining popularity in the global orthopedic braces & supports market. Development of 3D printing technology, cast and braces are changing their faces. The latest printing technology offers a comfortable and unique fit and a better healing process. Many key players and startups are developing 3D printed braces, and many are available in the orthopedic braces & supports market. The leaders are coming up with innovation and launching innovative orthopedic braces & supports in the market. Companies have seen opportunities to improve spinal care by creating more comfortable braces that promote patient compliance and healing. Thereby, companies are using 3D printing technology to increase their market presence across the globe.
Market Segmentation by Product
- Knee Braces & Supports (KBS)
- Foot & Ankle Braces & Supports (FABS)
- Spine, Neck & Hip Braces & Supports (SNHBS)
- Hand Braces & Supports (HBS)
Market Segmentation by Type
- Soft & Elastic
- Hard & Rigid
- Hinged
Market Segmentation by Application
- Treatment & Post–Operative Rehabilitation (TPOR)
- Preventive Care & Compression Therapy (PCCT)
Market Segmentation by Distribution Channel
- Specialty Orthotic & Orthopedic Clinics (SOOC)
- Hospital Pharmacies
- Offline Pharmacies & Retailer (OPR)
- E-Commerce
Market Segmentation by Geography
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- APAC
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Turkey
- Saudi Arabia
- South Africa
Key Drivers and Trends Fueling Market Growth:
- Development of Custom-Fit 3D Printed Orthopedic Braces
- Continuous Product Commercialization
- Increasing Prevalence of Orthopedics Diseases and Disorders
- Online and Retail Channels for Orthopedic Braces Witness Increased Popularity
- Paradigm Shift Towards Outpatient Orthopedic Care Fueling Post-Operative Rehabilitation
Orthopedic Braces & Supports Market – competitor landscape
The orthopedic braces & supports market is pursuing a variety of strategies to provide growth over the next few years. Cooperation, partnerships, mergers & acquisitions, product launches, and various other strategies are adopted by these market participants. The market for products and services for orthopedic braces & supports is developing rapidly and is becoming more and more competitive. Larger healthcare companies tend to acquire, invest in, or partner with these SMEs to diversify their products and participate in digital health. For instance, Ottobock introduced MyNext MAFO after years of economic and technical optimization of 3D-printed orthotic devices with special attention to shape and functional aspects.
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KEY VENDORS
- Breg
- Colfax
- DeRoyal Industries
- Bauerfeind
- Ottobock
- Össur
- Tynor Orthotics Private Limited (Tynor)
OTHER PROMINENT VENDORS
- 3M
- Advanced Orthopaedics
- ALCARE
- ORTEC
- Frank Stubbs Company
- McDavid
- Weber Orthopedic LP. DBA Hely & Weber
- Medi
- Thuasne Group
- Mueller Sports Medicine
- Trulife
- Dynatronics
- Lohmann & Rauscher (L&R)
- Orthosys
- UNITED MEDICARE
- Elite Orthopaedics
- Anatomical Concepts
- Allard USA
- Hebei Denovo Medical Device Company
- Vissco Rehabilitation Aids
- BraceAbility
Explore our healthcare lifesciences profile to know more about the industry.
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About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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