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.
Full Research Report On Global Braces and Supports Market Analysis available at: https://www.millioninsights.com/industry-reports/orthopedic-braces-supports-market
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.
Knee supports and braces segment held the largest market share in 2015, due to a large number of people affected by knee joint and related injuries. Knee braces helps in pressure relief from the joints that are affected by arthritis.
Foot and ankle braces are anticipated to show lucrative growth over the forecast period. This is due to the rising number of participation in sports related activities by people of all age group. The increasing number of participants in Paralympics also supports the growth of the market. Upper extremity supports and braces segment are also expected to grow at a significant rate in near future.
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.
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.
Request for Free Sample Copy @ https://www.millioninsights.com/industry-reports/orthopedic-braces-supports-market/request-sample
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.
Orthopedic Braces & Supports Product Outlook (Revenue, USD Million; 2014 – 2025)
• Knee Braces & Supports
• Knee Braces for Osteoarthritis and Ligament Injuries
• Post-operational Knee Braces
• Foot and Ankle Braces & Supports
• Soft Braces
• Hinged Braces
• Spinal Orthoses
• Upper Extremity Braces & Supports
• Shoulder Supports
• Wrist & Hand Supports
Orthopedic Braces & Supports End-Use Outlook (Revenue, USD Million; 2014 – 2025)
• Orthopedic Clinics
• Over the Counter (OTC)
Orthopedic Braces & Supports Regional Outlook (Revenue, USD Million; 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• South Africa
Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/medical-devices
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
For More Information: www.millioninsights.com
Company Name: Million Insights
Contact Person: Ryan Manuel
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar