Orthopedic Braces and Support Market - By Category (Lower Body Extremities, Upper Body Extremities, Spine and Back), Type (Soft, Rigid, Hinged), Application (Ligament Injury, Osteoarthritis), Patient, Distribution Channel – Global Forecast 2024 – 2032
Report ID: GMI8057
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Published Date: February 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 12
Tables & Figures: 459
Countries covered: 22
Pages: 264
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Orthopedic Braces and Support Market
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Orthopedic Braces and Support Market Size
Orthopedic Braces and Support Market size was valued at around USD 4 billion in 2023 and is anticipated to expand at a CAGR of 5.8% from 2024 to 2032. The increasing prevalence of orthopedic diseases and disorders, growing number of road accidents and sport-related injuries and rising public awareness pertaining to preventive care are some of the key factors driving the market growth.
The global population is aging, leading to a higher incidence of musculoskeletal conditions such as arthritis, tendonitis, and ligament injuries. For instance, according to the World Health Organization, as of 2022, approximately 1.71 billion people worldwide were affected by musculoskeletal conditions. These conditions necessitate ongoing management and support, with orthopedic braces playing a crucial role in improving mobility, reducing pain, and enhancing the overall quality of life.
Moreover, participation in sports and physical activities, while promoting a healthy lifestyle, also increases the risk of orthopedic injuries. Athletes and fitness enthusiasts often require orthopedic braces for injury prevention, stabilization during recovery, and support during strenuous activities. Therefore, the significant disease burden and the high prevalence of related disorders are anticipated to propel the market expansion.
Orthopedic braces and supports are medical aids designed to provide support, stability, and alignment to the musculoskeletal system. These devices are typically worn externally and are designed to support or immobilize specific joints or body parts, such as the spine, knees, ankles, wrists, and elbows. They aim to reduce pain, enhance mobility, prevent further injury, and aid in the healing process.
Orthopedic Braces and Support Market Trends
Technological advancements in orthopedic braces and support have played a pivotal role in shaping their evolution and widespread adoption in the market.
Orthopedic Braces and Support Market Analysis
The market by category is segmented into lower body extremities, spine and back, and upper body extremities. The lower body extremities segment accounted for 54.4% business share in 2023 and is anticipated to witness significant growth during the forecast period.
The orthopedic braces and support market by type is categorized into soft, rigid, and hinged. The soft orthopedic braces and support segment accounted for around USD 2.6 billion in revenue size in 2023.
The orthopedic braces and support market by application is categorized into ligament injury, osteoarthritis, post-operative rehabilitation, preventive care, compression therapy, and other applications. The ligament injury segment accounted for around USD 1.2 billion in revenue size in 2023.
The orthopedic braces and support market by patient is categorized into adult and pediatric. The adult segment is projected to reach more than USD 5.9 billion by 2032.
The orthopedic braces and support market by distribution channel is categorized into hospitals, orthopedic centers, pharmacies and retailers, e-commerce platforms, and other distribution channels. The hospitals segment is expected to grow at a CAGR of 5.5% over the analysis timeframe.
North America orthopedic braces and support market accounted for USD 1.6 billion in revenue in 2023 and is predicted to witness substantial market growth.
Orthopedic Braces and Support Market Share
The orthopedic braces and support industry is fragmented in nature, with companies competing to offer superior orthopedic support systems in this business space. The development and launch of novel advanced products based on different technologies are among a key market strategy. Some of the leading industry players including 3M Company, Össur, Ottobock SE & Co. KGaA, and Zimmer Biomet Holdings, Inc., among others have a notable presence in the market.
Orthopedic Braces and Support Market Companies
Some of the eminent market participants operating in the orthopedic braces and support industry include:
Orthopedic Braces and Support Industry News:
Orthopedic braces and support market research report includes an in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2018 to 2032 for the following segments:
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Market, By Category
Market, By Type
Market, By Application
Market, By Patient
Market, By Distribution Channel
The above information is provided for the following regions and countries: