The global orthopedic braces and support market is poised for substantial growth, according to the latest assessment by Future Market Insights (FMI). FMI projects that the market will surpass a valuation of USD 4.6 billion by 2024, with further growth anticipated in the following decade.
With a projected value of USD 8.8 billion by 2034, the orthopedic braces and support market are expected to reflect a notable compound annual growth rate (CAGR) of 6.7% over the assessment period.
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The increasing prevalence of orthopedic conditions, coupled with advancements in orthopedic brace technology, is driving the demand for orthopedic braces and support globally. These products play a crucial role in providing stability, support, and pain relief to individuals with musculoskeletal injuries or conditions, thereby enhancing mobility and improving quality of life.
Key Takeaways :
- Rising Incidence of Orthopedic Disorders: The prevalence of orthopedic conditions such as osteoarthritis, osteoporosis, and sports injuries is increasing globally, leading to a growing demand for orthopedic braces and support products.
- Increasing Awareness and Adoption: There is a growing awareness among patients and healthcare professionals about the benefits of using orthopedic braces and supports for rehabilitation, injury prevention, and pain management, driving the adoption of these products.
- Technological Advancements: Advances in materials science and manufacturing technologies are enabling the development of lightweight, ergonomic, and customizable orthopedic braces and support solutions, enhancing patient comfort and compliance.
As the global population continues to age and lifestyles become increasingly sedentary, the demand for orthopedic braces and support products is expected to witness sustained growth in the coming years.
Top Recommended Strategies to Stay Ahead of Market Competition:
- Key players can use smart sensors, materials, and biofeedback mechanisms to provide rehabilitation experiences and personalized support for effective rehabilitation bracing solutions.
- Companies need to prioritize research to develop new materials, applications, and designs for braces and support to effectively meet the needs of patients and align with emerging trends.
- Industry participants can consider collaborating with experts to prepare products validated for science and practical use cases.
- Market contenders can offer customization options like personalized support levels and custom-fit braces to meet individual needs effectively.
- By focusing on streamlining the purchase process, like offering hassle-free returns and convenient online ordering options, players can build loyalty and trust among their target market.
Recent Developments
- In October 2023, OrthoPediatrics Corp. launched the DF2 Brace as a strategy to expand into non-surgical business to treat kids suffering from musculoskeletal injuries.
- In September 2023, Enovis Corporation officially disclosed the acquisition of LimaCorporate S.p.A. The acquisition of the latter company added a wide variety of orthopedic medical devices like braces and other support apparatus.
Key Players in the Orthopedic Braces and Support Industry:
- DJO, LLC (United States)
- Zimmer Biomet (United States
- Medtronic (Ireland)
- Stryker Corporation (United States)
- Össur (Iceland)
- NuVasive®, Inc (United States)
- Integra LifeSciences Corporation (United States)
- Globus Medical (United States)
- OTTOBOCK (Germany)
- AC Mould Engineering Limited (China)
- Johnson and Johnson Services, Inc (United States)
- Weber Orthopedic LP. DBA Hely and Webe (United States)
- BSN medical (India)
- Becker Orthopedic (United States)
- OPPO MEDICAL INC (United States)
- Langer Biomechanics (United States)
- Frank Stubbs Company Inc. (United States)
- DeRoyal Industries, Inc (United States)
- Ascent Meditech Limited (India)
- Alcare Co., Ltd (Tokyo)
- Others
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Orthopedic Braces and Support Industry by Category:
By Product:
- Braces and Supports Type
- Knee Braces for Osteoarthritis and Ligament Injuries
- Post-operational Knee Braces
- Upper Spine Orthoses
- TLSOs
- LSOs
- Soft Braces
- Hinged Braces
- Pneumatic
- Non-pneumatic
- Elbow Braces and Supports
- Wrist Braces and Supports
- Pain Management Products
- Cold Therapy Products
- DVT Products
By End-user:
- Orthopedic Clinics
- Over the Counter (OTC)
- Hospitals
- DME Dealers
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- Middle East and Africa
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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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