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Global Orthopaedic Braces and Supports Market to Reach USD 5.08 Billion by 2026, Driven by the Rising Number of Osteoarthritis Cases

According to a new report by EMR titled, ‘Global Orthopaedic Braces and Supports Market Report and Forecast 2021-2026’, the global market size of orthopaedic braces and supports was USD 4.8 billion in 2020. The industry is further expected to grow at a CAGR of 6.5% between 2021 and 2026 to reach USD 5.08 billion by 2026.

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:

  • By product, the market can be segmented into lower extremity, spinal, and upper extremity braces and supports.
  • On the basis of types, the orthopaedic braces and supports industry has been segmented into soft and elastic braces and supports, hinged braces and supports, and hard and rigid braces and supports.
  • On the basis of application, the industry is divided into ligament injury, preventive care, post-operative rehabilitation, and osteoarthritis, among others. 
  • Based on end user, the industry is segmented into orthopaedic clinics, hospitals and surgical centres, and over-the-counter (OTC) platforms, among others.
  • Region-wise, the global orthopaedic braces and supports industry can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global orthopaedic braces and supports industry is being driven by the growing geriatric population and increasing prevalence of osteoarthritis.
  • The growing consumer awareness about bracing devices that provide mobility and prevent other injuries is also aiding the industry growth. 
  • The development of healthcare infrastructure and the adoption of the latest technology, particularly in the emerging economies, are providing further impetus to the industry. 
  • The increased R&D activities by the leading players is expected to provide a further boost to the industry. 
  • Rising disposable incomes and new product launches are aiding the growth of orthopaedic braces and supports industry globally. 

Key Offerings of the Report:

  • The EMR report gives a detailed analysis of the global market for orthopaedic braces and supports for the periods (2016-2020) and (2021-2026). 
  • The report offers historical (2016-2020) and forecast (2021-2026) market information for the products, types, applications, end users, and regional markets for the global orthopaedic braces and supports industry.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

EMR is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At EMR, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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