Orthopedic Braces And Supports Market Size, Share, Industry Trends and Forecast to 2030

Orthopedic Braces And Supports Market Size & CAGR in 2021

The global orthopedic braces and supports market is estimated to reach a value of USD 9.2 billion by the end of 2021, with a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period of 2021 to 2026. The market size is influenced by factors such as the increasing incidence of musculoskeletal disorders, rising geriatric population, and growing awareness about the benefits of orthopedic braces and supports.

COVID-19 Impact on the Orthopedic Braces And Supports Market

The COVID-19 pandemic has had a mixed impact on the orthopedic braces and supports market. While the market witnessed a temporary decline in sales during the initial phase of the pandemic due to disrupted supply chains and reduced elective surgeries, it quickly rebounded as healthcare systems adapted to the new normal. The pandemic also led to an increased focus on telemedicine and remote patient monitoring, which boosted the demand for orthopedic braces and supports that could be used at home.

Orthopedic Braces And Supports Dynamics

The orthopedic braces and supports market is driven by factors such as the growing prevalence of orthopedic conditions, advancements in technology leading to the development of innovative products, and increasing adoption of non-invasive treatment options. Additionally, the rise in sports-related injuries and the expanding geriatric population are contributing to the market growth.

Segments and Related Analysis

The orthopedic braces and supports market is segmented based on product type, application, and distribution channel. Product types include knee braces, ankle braces, shoulder braces, and spinal braces, among others. Applications include injury rehabilitation, osteoarthritis, and post-operative support, while distribution channels encompass online retailers, specialty stores, and hospitals & clinics.

By Region Analysis

Regionally, North America is expected to dominate the orthopedic braces and supports market, followed by Europe and the Asia Pacific. The presence of well-established healthcare infrastructure, high healthcare expenditure, and increasing awareness about orthopedic conditions in North America contribute to its market leadership. The Asia Pacific region is projected to witness the fastest growth due to the rising geriatric population and increasing disposable income.

Key Market Players and Competitive Landscape

Key players in the orthopedic braces and supports market include DJO Global, Össur, Breg, Bauerfeind AG, and BSN medical. These companies focus on product innovations, partnerships, and acquisitions to strengthen their market presence. Competitive strategies such as new product launches, mergers & acquisitions, and collaborations are prevalent in the market to sustain growth and gain a competitive edge.

Recent Happenings in the Orthopedic Braces And Supports Market

In recent developments, DJO Global introduced a new range of lightweight and adjustable knee braces designed for athletes. Össur launched a next-generation ankle brace with enhanced stabilization features. Breg announced a strategic collaboration with a leading orthopedic hospital for research and development of custom orthopedic braces. Bauerfeind AG introduced a new line of compression sleeves for joint support. BSN medical expanded its distribution network to reach more healthcare facilities and patients globally.