Orthopedic Support System Market worth over $5bn by 2027

Orthopedic Support System Market size is set to surpass USD 5.1 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Rise in prevalence of orthopedic disorders will stimulate the market growth. Prevalence of obesity and other lifestyle-related disorders in developed countries is contributing to the rising demand for orthopedic support systems. Obese individuals are at a risk of orthopedic disorders and muscular injuries. Additionally, growing geriatric population is augmenting the prevalence of osteoarthritis, rheumatoid arthritis and osteoporosis. Patients suffering from knee osteoarthritis find difficulty in walking and performing daily life activities. As per the Osteoarthritis Research Society International (OARSI), the prevalence of knee osteoarthritis is anticipated to rise with increase in geriatric population, worldwide. These factors are potentially fueling the utilization and demand for orthopedic support systems.
 

Technological advancements will foster the demand for orthopedic support system market. Manufacturers in the orthopedic industry are consistently focusing on designing the orthopedic braces in line with the smart technology. They are increasingly adopting hypoallergenic materials and anatomical modelling software applications for enhanced accuracy and efficiency in designing the product. A recently launched step smart braces including smart AFO braces and smart spine braces is equipped with smart technology. In addition, the C-Brace is the world’s first Stance and Swing Phase Control Orthosis (SSCO) orthotronic mobility system and is manufactured by the Ottobock. It is the result of advanced prosthetic technology and orthotic expertise.
 

Preference for bandage & sleeves will boost the market expansion

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Bandage and sleeves segment are expected to witness 8.5% growth rate till 2027 led by their ease of wear and removal, greater comfortability and light compression. Several types of waterproof and high-quality bandage & sleeves are available in the market now-a-days in order to meet the increasing demand for bandage & sleeves. Bandage & sleeves are also preferred by people in order to reduce swelling pre-surgery and post-surgery.
 

Browse key industry insights spread across 200 pages with 279 market data tables & 16 figures & charts from the report, “Orthopedic Support System Market Size By Product (Braces, Splint, Bandage & Sleeves, Strap), By Application (Upper Body Extremities {Shoulder, Elbow, Hand and Wrist}, Lower Body Extremities {Ankle, Knee, Foot, Hip and Back}), By Patient (Adult, Paediatric), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/orthopedic-support-systems-market
 

Increasing prevalence of upper extremity fractures will enhance the market revenue

Upper body extremities application segment in the orthopedic support system market is projected to expand at 8.1% CAGR till 2027 impelled by the emergence of inactive lifestyle that causes the upper body to become stiff and results in musculoskeletal disorders. As per a recently published report, the lifetime risk for fractures of forearm and vertebrae is causing clinical attention to reach approximately 40% worldwide. Thus, high incidences of fractures pertaining to the upper extremities are also contributing to the elevating demand for orthopedic support systems.
 

Growing number of obesity and osteoporosis cases will drive the market value

Orthopedic support system market for adult segment accounted for USD 2.39 billion in 2020 propelled by increasing prevalence of obesity across the globe. Application of the orthopedic braces is witnessing significant demand for managing weight issues among obese adults as these patients find difficulty in walking comfortably and conveniently due to unmanageable weight. Additionally, according to a recently published report, nearly 200 million women aged 60 years or above are affected by osteoporosis every year globally. Increase in aging population along with changing lifestyle has resulted in higher prevalence of osteoporosis that will continue to grow in the coming years. As a result, there will be higher prevalence and incidences of knee fractures and knee pain, thereby contributing to the rising demand for orthopedic support systems.
 

Increasing geriatric population in Japan is predicted to spur the market growth

Japan held significant share in the Asia Pacific orthopedic support system market and exceeded USD 137 million in 2020 on account of rising geriatric population base suffering from orthopedic disorders such as osteoporosis and osteoarthritis. Presence of low-cost manufacturers in the country and strong leading players engaged in development of technologically advanced orthopedic support systems are additional factors contributing to the market demand. Furthermore, growing incidents of fractures and elective surgeries in the country is contributing to the increasing demand for orthopedic support systems.
 

Companies are focusing on strategies and launch of innovative products to expand customer base

Some of the major players operating in the orthopedic support system market include Breg, Inc, DeRoyal Industries, Inc., DJO Global, Inc., Bauerfeind AG, Alcare Company Ltd., Otto Bock Healthcare GmbH, Ossur Corporate, FLA Orthopedics, Inc. and medi GmbH & Co. KG among others. These leaders are proposing strategies in order to generate significant revenue and maintain a competitive edge over their peers.