18 November 2019 - Million
Insights Market Research has published a new report titled ‘Orthopedic Braces and Supports Market – Global Industry Analysis, Size, Share,
Growth, and Forecast, 2018–2026.’ Orthopedic Braces and Supports market
report helps analyze trends and significant developments in the industry.
The global orthopaedic braces and supports market size was
worth USD 3.1 billion in 2015 which is anticipated to grow at a CAGR of more
than 6.7% during the forecast period. Increasing prevalence of arthritis is one
of the leading cause of the growth of orthopedic braces and supports market. It
is the most common form of arthritis which affects the population of all ages.
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According to theCentres for disease Control and Prevention,
in 2015, 30 million US adults were estimated to suffer from osteoarthritis. It
is estimated that 54.4 million of the US adults are affected with some form of
arthritis. People with arthritis are the major target for orthopedic braces and
supports. The second most common form of arthritis is rheumatoid arthritis
which cause muscle pain.
Increase in geriatric population is one of the primary
driver for the growth of the market. This population is highly affected by
musculoskeletal disorders. According to International Osteoporosis Foundation,
osteoporosis and low bone mass is a major threat to around 44 million U.S. men
and women of age 50 and older. Approximately, 30% of the post-menopausal women
suffer from osteoporosis in the US.
Weakening of bones, connecting tissues such as cartilages and ligaments
with age increases the risk of muscle injury in knees and shoulders. This
supports the increasing need of orthopedic braces and supports.
Sports related injuries are increasing with the increase in
participation of people of different ages in various sports activities.
Athletes are engaged in fitness related activities such as cycling, running,
and others. While performing health benefit related activities, athletes tend
to sustain injuries which may give rise to ligament injuries. Athletes involved
in indoor health activities are at high risk of ligament tear. This generates
the demand for ankle braces. These products help to restrict the movement of
affected part thereby making the healing process faster. Orthopedic braces help
athletes to protect themselves from further injury. It helps to restrict the
movement of the unwanted part during any activity, thereby facilitating a
convenient play.
Market Segment:
Orthopedic Braces
& Supports Product Outlook (Revenue, USD Million; 2014 - 2025)
• Knee Braces
& Supports
• Knee
Braces for Osteoarthritis and Ligament Injuries
•
Post-operational Knee Braces
• Foot and
Ankle Braces & Supports
• Soft
Braces
•
Hinged Braces
• Spinal
Orthoses
• Upper
Extremity Braces & Supports
•
Shoulder Supports
•
Wrist & Hand Supports
Orthopedic Braces
& Supports End-Use Outlook (Revenue, USD Million; 2014 - 2025)
• Orthopedic
Clinics
• Over the
Counter (OTC)
• Hospitals
• Others
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North America held the largest market share in 2015, due to
the rising prevalence of arthritis in the U.S. People are at a high risk of
osteoporosis in the U.S. due to increase in geriatric and obese population.
Increased participation in sports related activities in conjunction with rise
in awareness level among people related to orthopedic braces and supports is
expected to further support market growth.
Asia Pacific is expected to exhibit fastest growth over the
forecast period. This is due to the rise in geriatric population in the region
which in turn increases the demand for orthopedic braces and supports, thereby
accentuating the growth of the market.
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