India orthopedic braces and support casting and splints market

India Orthopedic Braces And Support Casting And Splints Market, by Type (Orthopedic Braces & Supports (Upper Extremity Braces and Support and Low Extremity Braces and Support), Casting Supplies & Equipment, and Splinting Supplies & Equipment), by Distribution Channel (Orthopedic Clinics, Hospitals, OTC, and E-commerce), and by Region (North India, South India, Central India, East India, and West India) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

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Dec 2020
CMI4349
182 Pages
Excel & Pdf
Medical Devices

Summary

Orthopedic braces are objects made of rigid materials such as hard plastics and soft materials including spandex or other tightly-knit fabrics designed to inhibit the movement of a joint. Braces are orthopedic products designed to relieve pain in the upper and lower extremity of the body. These also help in recovering from injuries and improve daily life. Casts and splints are wraps and are hard in nature. These are used as a support to protect and join the broken bones, ligaments, and tendons. Casts and splints provide immobilization to the area, where the bones are broken and maintain muscle activity and bone recovery.

The India orthopedic braces & support, casting & splints market is estimated to be valued at US$ 73.5 million in 2020 and is expected to exhibit a CAGR of 6.8% over the forecast period (2020-2027).

Figure 1. India Orthopedic Braces & Support, Casting & Splints Market Share (%), By Region, 2020

Increasing cases of accidents and growing prevalence of orthopedic diseases are expected to drive the market growth over the forecast period

Rising cases of accidents is expected to drive growth of the India orthopedic braces & support, casting & splints market. For instance, according to National Informatics Center, India recorded a total of 467,044 road accidents in 2018.

Furthermore, increasing prevalence of orthopedic diseases is fueling demand for orthopedic braces & support, casting & splints. This will, in turn, drive growth of the India orthopedic braces & support, casting & splints market. For instance, according to the National Institute of Health and Family Welfare (NIHFW), by the Ministry of Health and Family Welfare (MoHFW), Government of India data, osteoarthritis is the second most common rheumatologic problem and it is the most frequent joint disease with a prevalence of 22% to 39% in India in 2018.

India Orthopedic Braces & Support, Casting & Splints Market Report Coverage

Report Coverage	Details
Base Year:	2019	Market Size in 2020:	US$ 73.5 Mn
Historical Data for:	2016 to 2019	Forecast Period:	2020 to 2027
Forecast Period 2020 to 2027 CAGR:	6.8%	2027 Value Projection:	US$ 116.7 Mn
Geographies covered:	North India South India Central India West India East India
Segments covered:	By Type: Orthopedic Braces & Supports: Upper Extremity Braces and Support, Low Extremity Braces and Support. Casting Supplies & Equipment Splinting Supplies & Equipment By Distribution Channel: Orthopedic Clinics, Hospitals, OTC, E-commerce.
Companies covered:	3M, BSN medical, Zimmer Biomet Holdings, Inc., DJO, LLC, Össur Corporate, Stryker Corporation, Ottobock Holding GmbH & Co. KG, medi GmbH & Co. KG, Remington Products Company, Becker Orthopedic, Prime Medical Inc.,Tynor Orthotics Pvt Ltd., United Medicare, and Orthosys
Growth Drivers:	Increasing prevalence of orthopedic diseases Rising cases of accidents Growing prevalence of lifestyle diseases
Restraints & Challenges:	Variable reimbursement scenario High cost associated with fiber material

Figure 2. India Orthopedic Braces & Support, Casting & Splints Market Share (%), by Type, 2020

Increasing prevalence of lifestyle diseases & obesity, which leads to orthopedic disorders is expected to drive the market growth over the forecast period

Growing prevalence of obesity and related lifestyle disorders such as cardiovascular diseases, diabetes, etc. is also the major factor responsible for the growth of the India orthopedic braces & support, casting & splints market during the forecast period. For instance, according to one article published in The British Medical Journal, more than 135 million Indians are affected by obesity in 2018. Obese individuals are at a higher risk of orthopedic & musculoskeletal injuries as well as diabetes. These patients are at higher risk for orthopedic disorders, hence fuelling the growth of India orthopedic braces & support, casting & splints market.

India Orthopedic Braces & Support, Casting & Splints Market – Impact of Coronavirus (Covid-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in over 68.1 million infected individuals worldwide as of December 10, 2020. Moreover, according to Ministry of Health and Family Welfare, Government of India data, total 352,586 active COVID-19 cases were seen as of December 14 2020. Supply chain of orthopedic braces & supports, casting & splints have been hampered due to strict lockdown, and logistic constraint due to travelling hindrance. Quarantines, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending until the end of the third quarter of 2020.

India Orthopedic Braces & Support, Casting & Splints Market - Restraint

Variations in reimbursement scenario in different regions such as public & private player’s guidelines, and high cost associated with fiber material are some of the major factors which is expected to hinder the India Orthopedic Braces & Support, Casting & Splints market growth.

Key Players

Major players operating in the India orthopedic braces & support, casting & splints market include 3M, BSN medical, Zimmer Biomet Holdings, Inc., DJO, LLC, Össur Corporate, Stryker Corporation, Ottobock Holding GmbH & Co. KG, medi GmbH & Co. KG, Remington Products Company, Becker Orthopedic, Prime Medical Inc., Tynor Orthotics Pvt Ltd., United Medicare, and Orthosys

Table of Content

*Browse 30 market data tables and 28 figures on "Orthopedic Braces & Support, Casting & Splints Market” - India Forecast to 2027

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- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the market during the forecast period (2020-2027)?

The India orthopedic braces & support, casting & splints market is estimated to be valued at US$ 73.5 million in 2020 and is expected to exhibit a CAGR of 6.8% between 2020 and 2027.

What are the major factors driving the India Orthopedic Braces & Support, Casting & Splints Market growth?

Increasing prevalence of orthopedic diseases, rising cases of road accidents & sports injuries, and increasing lifestyle diseases are expected to drive the market growth over the forecast period.

Which is the leading type segment in the India orthopedic braces & support, casting & splints market?

Orthopedic braces & supports segment is the leading product type segment in the India orthopedic braces & support, casting & splints market.

Which region holds the largest market share in the India orthopedic braces & support, casting & splints market?

North India is expected to hold the largest market share in the India orthopedic braces & support, casting & splints market.

What are the key factors hampering growth of the market?

Variable reimbursement scenario, and high cost associated with fiber material are the major factors restraining growth of the India orthopedic braces & support, casting & splints market.

Which are the major players operating in the market?

Major players operating in the India Orthopedic Braces & Support, Casting & Splints Market include 3M, BSN medical, Zimmer Biomet Holdings, Inc., DJO, LLC, Össur Corporate, Stryker Corporation, Ottobock Holding GmbH & Co. KG, medi GmbH & Co. KG, Remington Products Company, Becker Orthopedic, Prime Medical Inc.,Tynor Orthotics Pvt Ltd., United Medicare, and Orthosys