The global orthopedic braces and supports market size is expected to reach USD 7.01 billion by 2030 and is expected to expand at a CAGR of 7.0% over the forecast period, according to a new report by Grand View Research, Inc. Key factors propelling the market growth include the growing incidence of injury & trauma, the prevalence of chronic diseases such as rheumatoid and osteoarthritis and increasing technological advancements. For instance, in March 2023, Aspen Medical Products, a mobility and pain management solutions provider, partnered with NICE Recovery Systems (NICE) to launch integrated bracing and cold compression solutions for pain management and post-operative care to patients recovering from surgery or injury.
Osteoporosis is a leading cause of musculoskeletal and joint disorders among the older population, increasing the demand for orthopedic braces. Older individuals are prone to experiencing various musculoskeletal ailments, making them a key demographic driving the market demand for orthopedic braces and supports. For instance, according to the International Osteoporosis Foundation, annually, osteoporosis causes over 8.9 million fractures across the globe, resulting in an osteoporosis fracture every 3 seconds. Similarly, according to the same source, osteoporosis affects approximately 6.3% of men over the age of 50 and 21.2% of women over the age of 50 globally.
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As people age, significant changes occur in their neuromuscular and skeletal systems, making them more susceptible to weak arthritis, anterior cruciate ligament (ACL) injuries, and ligament tears. The older population is projected to grow significantly during the forecast period, further driving the demand for orthopedic braces and supports.
The growing prevalence of sport-related injuries is another significant factor contributing to pain, disability, or restricted movement, thereby driving the demand for orthopedic braces and supports. For instance, in Europe, sports injuries account for around 6.2 million people annually. Furthermore, in the U.S., it is projected that 30 million children and adolescents participate in youth sports; among them, 2 million individuals account for sports injuries.
Orthopedic Braces And Supports Market Report Highlights
· By product, the braces & supports segment held the largest market share of 74.9% in 2023 and is also expected to witness the fastest growth during the forecast period, owing to the increasing number of osteoarthritis cases, which boosts the demand for products such as braces and support devices
· By end-use, the orthopedic clinic segment held the largest share in terms of revenue in 2023. The segment's dominance is attributed to the growing preference for orthopedic consultations for fast and rapid checkups
· North America dominated the overall market with a revenue share of 33.7% in 2023, owing to the increasing expenditure on healthcare and rising disposable income
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Orthopedic Braces and Supports Market Segmentation
Grand View Research has segmented the orthopedic braces and supports market-based on product, end-use, and region:
Orthopedic Braces & Supports Product Outlook (Revenue, USD Million, 2018 - 2030)
· Braces & Supports Type
o Knee Braces & Supports
o Knee Braces for Osteoarthritis & Ligament Injuries
o Post-operational Knee Braces
o Back Braces & Supports
o Upper Spine Orthoses
o TLSOs
o LSOs
o Others
o Ankle Braces & Supports
o Soft Braces
o Hinged Braces
o Walking Boots
o Pneumatic
o Non-pneumatic
o Upper Extremity Braces & Supports
o Elbow Braces & Supports
o Wrist Braces & Supports
o Others
o Hip Braces & Supports
o Others
· Pain Management Products
o Cold Therapy Products
o DVT Products
Orthopedic Braces & Supports End-use Outlook (Revenue, USD Million, 2018 - 2030)
· Orthopedic Clinics
· Over the Counter (OTC)
· Hospitals
· DME Dealers
· Others
Orthopedic Braces & Supports Regional Outlook (Revenue, USD Million, 2018 - 2030)
· North America
o U.S.
o Canada
· Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Norway
o Denmark
o Sweden
· Asia Pacific
o China
o India
o Japan
o Australia
o South Korea
o Thailand
· Latin America
o Brazil
o Mexico
o Argentina
· MEA
o South Africa
o Saudi Arabia
o UAE
o Kuwait
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