REDDING, Calif., June 18, 2024 /PRNewswire/ -- According to a new market research report titled 'Orthopedic Braces & Supports Market Size, Share, Forecast, & Trends Analysis by Product (Knee, Shoulder, Ankle, Hand, Elbow) Type (Soft, Hinged, Hard) Application (ACL, Osteoarthritis, Compression, Rehabilitation) Distribution Channel – Forecast to 2031,' published by Meticulous Research^®, the orthopedic braces & supports market is projected to reach $4.64 billion by 2031, at a CAGR of 5.4% during the forecast period 2024–2031.

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The growth of the orthopedic braces & supports market is driven by the increasing cases of bone fracture, the growing incidence of musculoskeletal disorders, and the growing availability & affordability of orthopedic support products. However, individuals' tendency to ignore smaller injuries and low awareness regarding bracing-mediated orthopedic treatments restrain the growth of this market.

Additionally, the increasing availability of orthopedic support products on online portals & rising consumer awareness are expected to generate growth opportunities for the players operating in this market. Furthermore, the rising prevalence of orthopedic disorders & diseases and the increase in accidents & sports-related injuries are major trends in the orthopedic braces & supports market.

Increasing Cases of Orthopedic Disorders Driving Market Growth

The population of older adults is rising globally, resulting in the increased incidence of musculoskeletal disorders. The burden of musculoskeletal disorders and the resultant health expenditures are the highest among the aging population. For instance, according to the American College of Rheumatology's March 2021 report, in 2017, nearly 1.3 billion people were living with musculoskeletal disorders globally. Thus, the use of orthopedic braces & supports for the clinical management of various orthopedic disorders and diseases like rheumatoid arthritis, carpal tunnel syndrome, osteoporotic fractures, and osteoarthritis is increasing, driving the orthopedic braces & supports market.

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Orthopedic braces & supports offer faster recovery and higher clinical efficacy compared to other therapies, such as pain medications. Additionally, increasing cases of accidental injuries and growth in the obese population with lifestyle and musculoskeletal disorders are factors positively impacting market growth.

The orthopedic braces & supports market is segmented based on product (knee braces & supports, ankle braces & supports, foot walkers & orthoses, back, hip, and spine braces & supports, neck & cervical braces & supports, shoulder braces & supports, elbow braces & supports, hand & wrist braces & supports, and facial braces & supports), type (soft & elastic braces & supports, hinged braces & supports, and hard & rigid braces & supports), application (ligament injury {anterior cruciate ligament injury and lateral collateral ligament injury}, preventive care, post-operative rehabilitation, osteoarthritis, compression therapy, and other applications), distribution channel (hospital pharmacies, retail pharmacies, e-commerce, and other distribution channels), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

The report also includes an extensive assessment of the key growth strategies adopted by leading market players in the last three to four years. Some of the key players operating in the orthopedic braces & supports market are Bauerfeind AG (Germany), Zimmer Biomet Holdings, Inc. (U.S.), 3M Company (U.S.), Össur hf. (Iceland), Breg, Inc. (U.S.), Enovis Corporation (U.S.), Bird & Cronin, LLC (U.S.), DeRoyal Industries, Inc. (U.S.), Essity Aktiebolag (publ) (Sweden), Ottobock SE & Co. KGaA (Germany), Weber Orthopedic LP. (U.S.), and Stubbs Company Inc. (U.S.).

Based on product, in 2024, the knee braces & supports segment is expected to account for the largest share of 29.7% of the orthopedic braces & supports market. The high prevalence of orthopedic injuries and the growing use of orthopedic braces & supports in preventive care contribute to the segment's largest share. Knee braces help athletes prevent injuries, provide arthritic support, prevent swelling, and protect the knees from wear and tear during exercise and physical activity.

Furthermore, the back, hip, and spine braces & supports segment is projected to record the highest CAGR of 5.9% during the forecast period. The growth of this segment is driven by increasing cases of back and spine injuries, the rising demand for spine and hip braces & supports among the older population, and increasing awareness regarding the advantages of back, hip, and spine braces & supports.

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Based on type, in 2024, the soft & elastic braces & supports segment is expected to account for the largest share of 52.5% of the orthopedic braces & supports market. The segment's large share is attributed to the flexibility and comfort of soft & elastic braces & supports, individuals' growing use of soft & elastic braces & supports during daily activities, the better affordability of soft & elastic braces & supports compared to hard braces, and soft & elastic braces' & supports' ability to improve physical function in the long term, reduce pain in the short term, and improve muscle activity.

Based on application, in 2024, the ligament injury segment is expected to account for the largest share of the orthopedic braces & supports market. The segment's large share is attributed to the high number of accidents leading to ligament fractures, youths' increasing participation in sports and athletic activities, and the increasing number of individuals with diabetes and obesity at risk of developing osteoarthritis.

Based on distribution channel, in 2024, the retail pharmacies segment is expected to account for the largest share of the orthopedic braces & supports market. The segment's large share is attributed to the convenience offered by retail pharmacies, the availability of orthopedic braces & supports at pharmacy stores, growing awareness about orthopedic braces & supports, and easy access to retail pharmacies.

Based on geography, the orthopedic braces & supports market is segmented into North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Denmark, Sweden, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, United Arab Emirates, South Africa, and Rest of Middle East & Africa). In 2024, North America is expected to account for the largest share of 36.7% of the orthopedic braces & supports market. North America's major market share can be attributed to the presence of leading players, favorable government initiatives, high healthcare expenditure across the region, and the increasing number of accidents.

However, Asia-Pacific is projected to register the highest CAGR during the forecast period due to the region's growing geriatric population, increasing cases of ligament injuries, government initiatives to support domestic manufacturing such as the Made in China 2025 initiative, and rising cases of diabetes which can further increase the risk of osteoarthritis.

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Scope of the Report:

Orthopedic Braces & Supports Market Assessment—by Product

• Knee Braces & Supports
• Ankle Braces & Supports
• Foot Walkers & Orthoses
• Back, Hip, and Spine Braces & Supports
• Neck & Cervical Braces & Supports
• Shoulder Braces & Supports
• Elbow Braces & Supports
• Hand & Wrist Braces & Supports
• Facial Braces & Supports

Orthopedic Braces & Supports Market Assessment—by Type

• Soft & Elastic Braces & Supports
• Hinged Braces & Supports
• Hard & Rigid Braces & Supports

Orthopedic Braces & Supports Market Assessment—by Application

• Ligament Injury
  • Anterior Cruciate Ligament Injury
  • Lateral Collateral Ligament Injury
• Preventive Care
• Post-operative Rehabilitation
• Osteoarthritis
• Compression Therapy
• Other Applications

Note: Other applications include musculoskeletal disorders, carpal tunnel syndrome, and occupational injuries.

Orthopedic Braces & Supports Market Assessment—by Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• E-commerce
• Other Distribution Channels

Note: Other distribution channels include physiotherapy clinics and surgery centers.

Orthopedic Braces & Supports Market Assessment—by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Rest of Europe (RoE)
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC (RoAPAC)
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America (RoLATM)
• Middle East & Africa
  • Saudi Arabia
  • United Arab Emirates (UAE)
  • South Africa
  • Rest of Middle East & Africa (RoMEA)

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About Meticulous Research^®

Meticulous Research^® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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