Orthopedic Braces Market Size, Projection and COVID-19 Impact Analysis By 2027

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URL: https://www.marketresearchfuture.com/reports/orthopedic-braces-market-8372
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Market Forecast

Global Orthopedic Braces Market is expected to cross USD 5.8 Billion by 2025 at a CAGR of 6.1%.

An increasing prevalence of osteoarthritis is set to drive the demand for orthopedic braces.

In the UK, approximately 8.75 million people aged 45 and above that constitute 33% of the total population have sought treatment for osteoarthritis. Thus, people with osteoarthritis are the primary consumer base for the orthopedic braces market.

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Regional Analysis:

The Americas has the regional edge in terms of revenue-generation capacity for the market. This is primarily due to the infrastructural advantage that the regional market has, contributions from the US and Canada, better influx of investment is also slated to promote the regional market. In Europe, the growth parameters would be the same.

Segmentation:

Orthopedic Braces Market Size has been segmented by MRFR experts with a goal to dig deep and get conclusive details to boost the strategy-making prospects. These segments are type, application, product, and end user.

By product, the global report on the orthopedic braces has been segmented into foot and ankle braces, upper extremity braces, knee braces, and others. The knee braces segment has the scope to surpass others in terms of CAGR during the forecast period. The process will gain more from the ability to provide medial and lateral support, limit injury during motion, reduce rotation of the knee, and protect from diverse post-surgical risk of injuries.

By type, the global market has been segmented into hinged braces, soft and elastic braces, and hard braces. The soft and elastic braces segment are customizable and flexible owing to which chances of earning better CAGR is higher for the segment.

By application, the global market includes segments like preventive care, osteoarthritis, post-operative rehabilitation, ligament injury, and others. Ligament injury may record the largest market share as several countries have reports of a rising number of such incidents.

By end user, the global market has been segmented into hospitals and surgical centers, orthopedic clinics, and others. The orthopedic clinics segment has the largest market share owing to their specific contribution in taking the global market ahead.



Competitive Landscape:

The global market for orthopedic braces is witnessing a strong traction from various strategic moves from companies like Breg, Inc. (US), BSN medical (Germany), Bauerfeind (Germany), DJO LLC (US), Weber Orthopedic Inc. (US), Ottobock (Germany), THUASNE SA (France), DeRoyal Industries, Inc. (US), Frank Stubbs Company Inc. (USA), and Aspen Medical Products (US). These companies are well-established and their competition with the new entrants are helping the market in making progress. Among various methods, these companies often adopt mergers, acquisitions, collaborations, and other time-tested models. They are also trying to launch innovative products by hiking the funding for research and development sector and ensuring better practices for researchers. MRFR listed these recent activities of various companies to get a proper knowledge about how things are moving forward for the global market.

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Industry News:

In April 2020, OrthoSpin announced that they have secured a funding of USD 5 million using Johnson & Johnson Innovation’s help.The company has recently made some stunning progress in the field of bone lengthening. Their new orthopedic brace are digitally-enabled and can set complex fractures and correct various skeletal deformities. The fund is to secure more production of these braces and ensure a safe passage for its clinical use.

About Market Research Future: MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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