The global orthopedic braces and supports market size was estimated at USD 4.44 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2030. Increasing technological advancements, rising number of sports and accident-related injuries, increasing geriatric population and growing public awareness of preventive care are key drivers in the orthopedic braces and support market. These factors contribute to developing innovative products and solutions for better patient outcomes. For instance, according to the Population Reference Bureau, population in the U.S. aged 65 and above is projected to rise from 58 million in 2022 to 82 million by 2050.

Additionally, the rising prevalence of chronic and acute conditions, such as arthritis and sports injuries, further boosts the demand for orthopedic braces and supports. Major companies in the market are actively involved in initiatives to improve product offerings and expand their market presence, which is expected to contribute to the overall market growth. For instance, in February 2021, BREG, Inc, a provider of billing services and orthopedic bracing, introduced two new product lines called Pinnacle and Ascend. These product lines consist of 15 orthopedic braces specifically designed for patients with spinal injuries. The launch of these new product lines signifies the company's expansion of its product portfolio, allowing it to offer a broader range of solutions to meet the needs of patients with spinal injuries.

Gather more insights about the market drivers, restrains and growth of the Global Orthopedic Braces And Supports Market

End-use Insights

In 2023, the orthopedic clinics segment dominated the market regarding revenue share. This demand can be attributed to the rise in number of orthopedic surgeons and the fact that orthopedic clinics are primary healthcare providers for patients experiencing musculoskeletal pain. For instance, according to an article published by Definitive Healthcare, LLC. in October 2023, there are more than 27,000 active orthopedic surgeons in the U.S.

The OTC segment is anticipated to exhibit the fastest growth over the forecast period. The segment's growth is attributed to the easy availability of OTC-related orthopedic braces in retail pharmacies. Patients suffering from acute muscle pain often prefer OTC products, which aid in reducing recovery time and providing quick relief to injured joints and muscles. The market growth is anticipated to be propelled by the several initiatives undertaken by key companies operating in the market. For instance, in February 2021, Breg, Inc., a billing services provider and orthopedic bracing company, collaborated with distributor Club Warehouse based in Australia to expand high-value, premium orthopedic products in the Australian market.

Product Insights

The braces & supports type segment dominated the market, capturing a revenue share of 74.9% in 2023, owing to an increase in orthopedic disorders and injuries, such as arthritis. This segment is subdivided into the back, ankle, knee, upper extremity braces and supports, and walking boots. The rising occurrence of ankle, knee, and upper extremity-related injuries and issues among individuals has significantly increased demand for braces and support products. These injuries can stem from various factors, such as sports activities, physical exertion, accidents, or underlying medical conditions. Ankle sprains, knee ligament tears, and upper extremity conditions like wrist fractures or shoulder instability are typical examples of such injuries. For instance, according to Datalys Center and Hospital for Special Surgery (HSS), anterior cruciate ligament (ACL) tears increased by 12% between 2007-08 and 2021-22.

In addition, the braces & supports segment is expected to witness the fastest CAGR growth over the forecast period, owing to the growing number of individuals suffering from knee joint-related disorders. Moreover, with an increasing awareness of the importance of early intervention and proper support in the healing and management of these injuries, individuals seek reliable and effective braces and support. These products provide stability, compression, and targeted support to the affected area, aiding pain relief, reducing inflammation, promoting healing, and preventing further damage.

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Regional Insights

North America held the largest market revenue share of 33.7% in 2023. The dominance of the North American region is attributed to the presence of technologically equipped hospitals in Canada and the U.S. In addition, the region experiences a growing prevalence of chronic conditions, resulting in an increased number of orthopedic surgeries. The expanding geriatric population further fuels this trend as older individuals are more susceptible to orthopedic issues. For instance, according to America's Health Rankings 2022 data, in the U.S., around 58 million adults ages 65 and older.

Key Companies & Market Share Insights

Key players operating in the market include BREG, Inc., Össur, DeRoyal Industries, Inc., and DJO, LLC (Enovis). Frank Stubbs Company Inc., Weber Orthopedic LP, and Ottobock are some of the emerging market players in the orthopedic braces and supports market.

BREG, Inc. manufactures and markets sports medicine products. The company sells its products through more than 100 distributors in 36 countries. The company offers hip, knee, spine, elbow, ankle, and foot braces. The company utilizes its well-established distribution network to expand its business geographies and cater to emerging economies.

Frank Stubbs Company Inc. is an emerging player that designs and manufactures orthopedic supports, binders, and compression garments for the plastic surgery market.

Key Orthopedic Braces And Supports Companies:

·        BREG, Inc.

·        Frank Stubbs Company Inc.

·        DeRoyal Industries, Inc.

·        ÖssurFillauer LLC

·        Ottobock

·        McDavid

·        Bauerfeind

·        Weber Orthopedic LP

·        DJO, LLC (Enovis)

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