The global orthotic devices, orthotic splints, and orthopedic braces and support market is set to experience substantial growth over the next decade, with a projected Compound Annual Growth Rate (CAGR) of 4.8% from 2022 to 2032. This promising forecast is driven by multiple factors, including demographic shifts such as an aging population, the rising prevalence of disabilities, and an increase in chronic and lifestyle diseases.
Orthotic devices, encompassing splints, braces, and supports, are crucial in supporting, preventing, aligning, and correcting the functionality of movable body parts. These devices serve various anatomical regions, including the neck, shoulder, wrist, knee, and ankle, providing essential aid across a broad spectrum of medical conditions. From addressing sports injuries to assisting individuals with cerebral palsy and spinal cord injuries, orthotic devices have become indispensable components of modern healthcare.
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The aging global population significantly contributes to the market’s growth, as older adults are more prone to musculoskeletal issues, requiring supportive and corrective devices. Additionally, the increase in chronic diseases such as diabetes and arthritis, coupled with a rise in lifestyle-related conditions, has amplified the demand for orthotic devices.
Orthotic devices offer diverse benefits, from enhancing mobility and reducing pain to improving overall quality of life for individuals with physical impairments. As technological advancements continue to evolve, the functionality and efficacy of these devices are expected to improve, further driving market growth.
Moreover, the surge in sports-related injuries and the heightened awareness of preventive care among athletes have fueled the demand for advanced orthotic devices. This trend underscores the importance of orthotic supports in promoting optimal performance and ensuring swift recovery from injuries.
In conclusion, the global orthotic devices, orthotic splints, and orthopedic braces and support market is on an upward trajectory, poised for robust growth in the coming years. With an aging population, rising prevalence of disabilities, and increasing chronic and lifestyle diseases, the market is well-positioned to meet the growing demand for advanced orthotic solutions.
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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