Orthopedic Braces & Supports Market to grow with a CAGR of 5.3% to reach US$ 5,429.3 Mn in 2025 | The Insight Partners

The Orthopedic braces and supports in healthcare market was valued at US$ 3,631.2million in 2017 and it is projected to reach US$ 5,429.3 million by 2025; it is expected to grow at a CAGR of 5.3% from 2018 to 2025.

The orthopedic braces and supports are the devices that protect, stabilize, supports and correct injuries or abnormal alignment through the process of rehabilitation and recovery. These functions are used for the injury rehabilitation, injury prevention, osteoarthritic care, post-operative care and more. The growth of the Orthopedic braces and supports in healthcare market is attributed to the increase in the number of orthopedic surgeries, rise in the geriatric population, growing incidents of road accidents and increase in the awareness and adoption of orthopedic braces and supports are expected to boost the market over the years. However, ignorance of the minute injuries is likely to have a negative impact on the growth of the market in the coming years.

The Orthopedic braces and supports in healthcare market is expected to witness substantial growth post-pandemic. The Orthopedic braces and supports in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

Lucrative Regions for Orthopedic Braces and Supports in Healthcare Market

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Market Insights

Growing Applications of Orthopedic braces and supports in Healthcare to Drive Orthopedic braces and supports in Healthcare Market Growth

The rise in the orthopedic surgeries is majorly driven by the surgeries done for the replacements of knee and hip. The surgeries are also been done for the amputations of the limbs due to the damages and injuries caused in the accidents or due to the various diseases. The number of the surgeries for the amputation is observed for the patients suffering from diabetes and have developed condition of gangrene. For instance, according to the U.S. Agency for Healthcare Research and Quality, in United States approximately 600,000 knee replacement surgeries are performed per year. 

The knee replacement surgeries are being performed in the geriatric population for their deteriorating joints. Knee replacement, is among the most commonly performed orthopedic procedures. The rise in the conditions such as rheumatoid arthritis (RA) and ankylosing spondylitis (AS) and osteoporosis are driving to the number of the surgeries. For instance, according to a report published in 2018 of Healthline Media, rheumatoid arthritis (RA) affects 41 in every 100,000 people per year and near round 1.3 million Americans have RA. Likewise, data published by Spondylitis

Association of America, states that in America, spondyloarthritis is found in approximately in 2.7million people which is 1 in 100 populations. Similarly, according to the International Osteoporosis Foundation, in 2018, osteoporosis is estimated to affect 200 million women across the world, among which near around one-tenth of women are above the age of 60, one-fifth of women aged more than 70, two-fifths of women aged above 80 and two-thirds of women aged more than 90.

Moreover, the number of surgeries are expected to be rising to the musculoskeletal disorders that are associated with sports, occupational injuries and age-related dysfunction. For instance, according to Arthritis Foundation, in 2017, approximately 54 million adults have been diagnosed with arthritis. In addition, approximately 300,000 babies and children have arthritis or a rheumatic condition. Also the common type of arthritis diagnosed is osteoarthritis, which affects approximately 31 million Americans. Therefore, according to the data and the figure it is estimated that the demand for the post-operative braces and supports are as the braces and supports are used to provides supports, strength and helps in maintaining the proper posture of the body. Thus, owing to these factors the rise in the orthopedic surgeries are likely to drive the market for the orthopedic braces and supports in the forecast period.

The geriatric population is a group of people who are of age group of 65 years and above. The geriatric population across the world is rising due to the increase in the life expectancy, developments in the healthcare systems and increasing facilities and services across the world. Therefore, the number of geriatric population has been increasing rapidly across the globe. In addition, ageing population is poised to become one of the most significant social transformations of the twenty-first century.

As per the report ‘Aging in the United States’ published by Population Reference Bureau’s revealed that the growing population (people 65 and older) are likely to reshape the scenario for the older population in America. Similarly, the latest data published by the World Health Organization (WHO) in February 2018 says that in between 2015–2025 the world's population over 60 years is likely to increase roughly from 12% to 22%. Also the pace of the geriatric population is growing much faster as compared to the past. Additionally, countries across the world are facing major challenges and trying to ensure their health and social systems are ready to accept the most of the demographic shift.

The data by the WHO also estimated that till 2050, there will be approximately 120 million people living in China itself. It is also estimated that near around 434 million people in the age group of 80 and above will be present across the world. Moreover, it stated that by 2050, 80% of all older people will be registered in low and middle-income countries. The rise in the geriatric population is been observed across the world, for instance, France had almost taken 150 years to adapt the shift in the portion from 10% to 20% of the population which were older than 60 years. However, countries such as Brazil, China and India will be experiencing slight change which will be more than 20 years to make the same adaptation. Furthermore, the shift in scattering of a country's population towards older population have been started in high-income countries such as Japan which have 30% of the population who are above 60years and above. 

The rise in the geriatric population is witnessing the common health conditions which are related with the age are rising. The common conditions such as back, neck pain and osteoarthritis. The frequency of the orthopedic condition among the older population is much higher. Other than the back, neck pain and osteoarthritis, conditions such as osteoporosis and fractures are much higher. For instance, according to the European Medical Journal report which was published in March, 2018, estimated that 9.6% of men and 18.0% of women who are 60 years of age and above will have symptoms of osteoarthritis (OA). Thus, are more other symptoms that cause orthopedic conditions and thus, to treat them most of the people use the braces and supports to reduce their pain and prevent the damages and injuries to them. Thus, the rise in the geriatric population and the rise in the incidences of the OA are likely to increase the demand for the braces and supports dramatically in the coming forecast period.

The road accidents are the major driving cause of death by injury and the tenth-leading cause of all deaths across the world. Many of the people are injured in the road accidents are occupy 30% - 70% of the orthopedic beds in the hospitals of countries across the world.

Across the world the traffic and the roads are shared by the cars, buses, trucks, motorcycles, mopeds, pedestrians, animals, taxis and other modes of traveling. As per the Centers for Disease Control and Prevention (CDC), road traffic injuries are anticipated to be the eighth driving cause of death across the world. If the trend of the growing number of accidents are continued it is estimated that by 2030, road traffic injuries will be the seventh driving cause of death across the world. As per the CDC data published in 2016 states that road accidents injuries lead to a huge economic burden on the lower and middle income countries. For instance, it was expected that the approximately cost of US$ 518 billion across the globe and near around US$ 65 billion in the lower income and middle income countries. 

The road accidents injuries cause the deformities, amputations of limbs, fractures of bone and sever pain in the different parts of the body. In additions, conditions caused injuries by includes spinal cord paralysis, head brain injuries, facial disfigurement, wrist and arm injuries and more are experienced by the people. Therefore, to support the injured and damaged parts splints, rehabilitation braces and supports, knee and ankle braces are being used. The demand for these braces have increased in the developed as well as upper middle income countries. 

Moreover, the countries which have higher number of the professionals who work in the sitting positions for longer hours develops the back aches and lower back aches problems. This conditions is also observed in the people who travels more for longer hours. Therefore, most of the people are being prescribed with the braces and supports. Therefore considering the facts the rise in the demand for the orthopedic braces and supports market is likely to experience lucrative growth in the coming near future.

The use of the orthopedic braces and the supports provides various advantages to the patients. The advantages include it provides user with more comfort while walking, reduces the pains, assists in the moving their limbs, reduced swelling & inflammation and most importantly the user become independent to move around do wok by own. 

However, the awareness and the usability of these braces are more in the developed and upper middle income countries. The awareness regarding the use of the orthopedic braces and supports is provided by the various foundations such as International Society for Prosthetics and Orthotics (ISPO), this organization assist people with limb amputations or physical damages and injuries of their limbs and spine. Therefore, to achieve greater function and independence the society has develop prosthetics and orthotics sector worldwide since its initiation. 

The foundation is non-government organization that aims to improve the quality of life for people who may benefit from prosthetic, orthotic, mobility and assistive devices. The ISPO provides an effective platform to exchange and communicate all the aspects of science. The organization practice and educate with the associates with the provision of prosthetic and orthotic care, rehabilitation engineering, and related areas. 

Similarly, University of Florida Department of Orthopedics and Rehabilitation is focused to educate and train the individuals to become self-dependent that are capable of providing the highest quality orthopedic care. Thus, the awareness is spread across the world and the use of the orthopedic braces and supports are being pushed among the people. Therefore, the market for the orthopedic braces and supports are likely to grow significantly in the coming near future.

Product-Based Insights

In terms of product, the Orthopedic braces and supports in healthcare market is segmented into spine, shoulder, elbow, back &hip, knee and ankle & foot. In 2017, the knee segment held a largest market share of 41.5% of the orthopedic braces and supports market, by product. This segment is also expected to dominate the market in 2025 owing to the different features offered in the knee braces and the incidences of the knee pains due to the osteoarthritis is more among orthopedic conditions.

Orthopedic Braces and Supports in Healthcare Market, by Product – 2017 and 2025

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Application-Based Insights

Based on application, the Orthopedic braces and supports in healthcare market is segmented into osteoarthritis, preventive care, ligament injury, cold bracing and others. The ligament injury segment is anticipated to grow at a CAGR of 6.0% during the forecast period. The growth of ligament injury segment is primarily driven due to the features such as that helps in reducing pain, initiates tissue healing and provides support and joint stabilization.

Strategic Insights

The Orthopedic braces and supports in healthcare market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.

Orthopedic Braces and Supports in Healthcare Market – by Product

• Knee
• Back & Hip 
• Shoulder
• Elbow
• Foot and Ankle
• Spine

Orthopedic Braces and Supports in Healthcare Market – by Application

• Ligament Injury
• Osteoarthritis
• Preventive Care
• Cold Bracing
• Others

Orthopedic Braces and Supports in Healthcare Market – by Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC

• Middle East & Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

• South America and Central America (SCAM)

  • Brazil
  • Argentina
  • Rest of SCAM

Company Profiles

• DJO Global
• Zimmer Biomet
• Ossur Corporate
• 3M
• Breg Inc.
• Bauerfeind
• BSN medical
• DeRoyal Industries, Inc.
• Thuasne
• ALCARE Co.Ltd
• Ottobock