Orthopedic Braces and Supports Market to Grow at 5.7% CAGR and Projected to Reach US$ 5.5 Billion Revenue by 2024 Driven by Knee, Ankle, Spine, Shoulder and Elbow

Orthopedic Braces and Supports Market to Grow at 5.7% CAGR and Projected to Reach US$ 5.5 Billion Revenue by 2024 Driven by Knee, Ankle, Spine, Shoulder and Elbow

Orthopedic Braces and Supports market dominated by surgical treatment of orthopedic disorders such as ligament injury, bone deformity, scoliosis, and osteoporosis industry trends, market share analysis of top players, & company profiles.

The orthopedic braces and supports market is projected to reach USD 5.5 billion by 2024 from USD 4.1 billion in 2019, at a CAGR of 5.7%. Development of specialized orthopedic bracing and support products, increased off-the-shelf & online product sales, and product promotion & branding initiatives undertaken by major product manufacturers are key factors driving growth of market. High-growth regions & countries & their respective drivers, restraints, challenges, and opportunities.

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Orthopedic Braces and Supports market research study involves extensive usage of secondary sources, directories, & databases (such as Hoover’s, Bloomberg Business, Factiva, & Avention), in order to identify & collect information useful for this technical, market-oriented, & financial study of orthopedic braces market.

“The knee braces and supports segment to witness the highest growth rate in the orthopedic braces and supports market, by product, during the forecast period”

Report studies orthopedic braces and supports market based on product, type, application, and end user. Report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It analyzes opportunities and challenges in market for stakeholders and provides details of competitive landscape for market leaders.

The ligament injury segment accounted for the largest share of the orthopedic braces and supports market in 2018. The large share of this segment is attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries.

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The orthopedic clinics segment is expected to account for the largest share of the market primarily due to rising number of ambulatory care units across mature countries, significant rise in road accident injuries, higher availability of well-trained & skilled orthopedic technicians across major markets, and greater availability of reimbursements for outpatient orthopedic procedures.

The orthopedic braces and supports market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period majorly due to the significant prevalence of orthopedic & diabetes-related diseases in this population segment, increasingly localized product manufacturing, favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries.

Stakeholders Covered in This Research as Follows

  • Orthopedic bracing and support product manufacturers
  • Distributors and suppliers
  • Research laboratories and academic institutes
  • Sports institutes and organizations
  • Government and independent regulatory bodies
  • Market research organizations

Order the “Orthopedic Braces & Supports Market by Product (Knee, Ankle, Spine, Shoulder, Neck, Elbow, Wrist, Facial), Category (Soft, Hard), Application (Ligament (ACL, LCL), Preventive, OA), Distribution, and Region – Global Forecast to 2024” Research Report Now at https://www.reportsnreports.com/purchase.aspx?name=431611 .

The major players operating in this market are Össur Hf (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Ottobock Holding GmbH & Co. KG (Germany), medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Reh4Mat (Poland), 3M Company (US), Zimmer Biomet Holdings, Inc. (US), DeRoyal Industries, Inc. (US), Bird & Cronin, Inc. (US), Becker Orthopedic (US), and United Ortho (US).

Key Benefits of Buying the Report

This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the orthopedic braces and supports market, and high-growth regions and their drivers, restraints, opportunities, and challenges. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

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