The global orthotic devices orthotic splints and orthopedic braces and support market is on track for significant expansion, with a projected Compound Annual Growth Rate (CAGR) of 4.8% from 2022 to 2032. This optimistic outlook stems from a confluence of factors, including demographic shifts such as the aging population, increased prevalence of disabilities, and the uptick in chronic and lifestyle diseases.
Orthotic devices, comprising splints, braces, and supports, play a pivotal role in supporting, preventing, aligning, and correcting the functioning of movable body parts. These devices cater to various anatomical regions, including the neck, shoulder, wrist, knee, and ankle, offering indispensable aid across a spectrum of medical conditions. From addressing sports injuries to aiding individuals with cerebral palsy and spinal cord injuries, orthotic devices have become integral components of modern healthcare.
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The orthotic devices orthotic splints and orthopedic braces and support market primarily comprises two categories: splints and braces. Splints are primarily utilized to immobilize a joint or limb, whereas braces offer support and stability.
“The growing demand for orthotic devices orthotic splints and orthopedic braces and support market underscores the importance of advanced healthcare solutions in addressing diverse medical needs,” stated FMI. “As the market continues to evolve, innovation will play a pivotal role in meeting the rising demands for effective orthotic solutions.”
With technological advancements and an increasing emphasis on patient-centric care, the orthotic devices orthotic splints and orthopedic braces and support market is expected to witness significant expansion in the coming years.
Key Takeaways from the “Orthotic Devices Orthotic Splints and Orthopedic Braces and Support Market by 2022 to 2032” report:
- The global orthotic devices, orthotic splints, and orthopedic braces and support market is expected to grow at a CAGR of 4.8% from 2022 to 2032.
- North America is the largest market for orthotic devices, orthotic splints, and orthopedic braces and support, accounting for over 40% of the global market share in 2022.
- The soft & elastic braces and supports segment is expected to account for the largest revenue share in 2022, owing to the increasing demand for these products for preventive care and post-operative support.
- The knee braces and supports segment is expected to grow at the highest CAGR during the forecast period, due to the increasing prevalence of knee injuries and osteoarthritis.
- The major factors driving the growth of the orthotic devices, orthotic splints, and orthopedic braces and support market include the rising prevalence of chronic diseases such as arthritis, osteoporosis, and diabetes; the increasing geriatric population; and the growing awareness of the benefits of orthotic devices for preventive care and rehabilitation.
Market Players:
- DeRoyal Industries,
- Otto Bock Holding GmbH& Co.,
- Bauerfeind AG,
- DJO Inc.
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Orthotic Devices Orthotic Splints and Orthopedic Braces and Support Market Segmentation:
Key Segments:
By Product:
- Knee
- Ankle
- Hip
- Spine
- Shoulder
- Neck
- Elbow
- Hand
- Wrist
By Category:
- Soft
- Hard
- Hinged
By Application:
- Ligament (ACL, LCL)
- Preventive
- OA
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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