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The global market for orthopaedic braces and supports is aided by the rise in the number of osteoarthritis cases across the globe and increasing geriatric population. These braces aid the people who are at a risk of muscle injury by offering support and mobility to knee joints. North America dominates the global orthopaedic braces and supports industry owing to the increased awareness and acceptance of advanced technology among consumes in the region coupled with the significant presence of obese and geriatric population. On the other hand, the Asia Pacific is expected to be the major emerging market for the product over the forecast period. The growth of the market in the region can be attributed to the presence of a huge geriatric population in China and developing healthcare facilities in emerging nations of the Asia Pacific.
Some of the leading players in the global orthopaedic braces and supports industry are the 3M Company (NYSE: MMM) and Össur Hf (CPH: OSSR). The growing investment by the leading companies and increased mergers and acquisitions are expected to further aid the industry growth. In May 2020, 3M announced that it has entered into a definitive agreement to acquire Acelity Inc. and its KCI subsidiaries globally for a total enterprise value of around USD 6.7 billion. The acquisition of Acelity, a leading global medical technology company, is expected to allow 3M to expand its presence in the advanced and surgical wound care area. Such developments are expected to aid the growth of the global orthopaedic braces and supports industry over the forecast period.
Market Breakup by Product, Type, Application, End User, and Region:
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The major players in the global orthopaedic braces and supports market are BREG, Inc., Össur Corporate, Bauerfeind AG, BSN medical GmbH, DJO Global, Inc., and 3M Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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