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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

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. There are various type of materials used to make braces such as metal, plastic, and fiber glass.

The global orthopedic braces & support, casting & splints market is estimated to account for US$ 6,214.5 Mn in terms of value in 2019 and is expected to reach US$ 9,634.3 Mn by the end of 2027.

Global Orthopedic Braces & Support, Casting & Splints Market: Drivers

Increasing geriatric population is expected to propel growth of the global orthopedic braces & support, casting & splints market over the forecast period. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.    

Moreover, increasing cases of accidents are also expected to aid in growth of the market. For instance, according to National Informatics Center, India recorded a total of 467,044 road accidents in 2018.  

Orthopedic Braces and Supports held dominant position in the global orthopedic braces & support, casting & splints market in 2019, accounting for 57.7% share in terms of value, followed by Casting Supplies & Equipment and Splinting Supplies & Equipment, respectively

Figure 1. Global Orthopedic Braces & Support, Casting & Splints Market Share (%), by Value, by Type, 2019

Orthopedic Braces & Support, Casting & Splints  | Coherent Market Insights

Global Orthopedic Braces & Support, Casting & Splints Market: Restraints

Variations in reimbursement scenario are expected to hinder growth of the market. The reimbursement scenario in North America varies considerably in terms of pricing, co-payments, and settlements. Complexities arising due to these differences creates complications for third-party payers such as private insurance companies and social security systems. They play a key role between the user and the healthcare organization.

Moreover, high cost associated with fiber material is also expected to limit growth of the market. For instance, the cost of high quality braces can be around US$ 900. 

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Orthopedic Braces & Support, Casting & Splints Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 5,839.3 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 6.5% 2027 Value Projection: US$ 9,634.3 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Type:
    • Orthopedic Braces and 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, Össur Corporate, BSN medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Orfit Industries N.V., Spencer Italia S.r.l., Prime Medical, Inc., Breg, Inc., Stryker Corporation, and Zimmer Biomet Holdings, Inc.

Growth Drivers:
  • Increasing geriatric population who are prone to orthopedic ailments
  • Increasing cases of accidents
Restraints & Challenges:
  • Unfavorable reimbursement
  • High Costs

Global Orthopedic Braces & Support, Casting & Splints Market: Opportunities 

Increasing adoption 3D printing in manufacturing of finger splints is expected to offer lucrative growth opportunities for players in the global orthopedic braces & support, casting & splints market. For instance, the research ‘Patient-specific 3D-printed Splint for Mallet Finger Injury,’ published in the International Journal of Bioprinting’, in April 2020, reported use of an Ultimaker 2 Extended+ 3D printer to fabricate splint for mallet finger injury.

Moreover, increasing cases of falls is also expected to aid in growth of the market. For instance, according to January 2018 factsheet of the World Health Organization, 20–30% of older people who fall suffer moderate to severe injuries such as bruises, hip fractures, or head trauma, in the U.S.

The global orthopedic braces & support, casting & splints market was valued at US$ 5,839.3 Mn in 2019 and is forecast to reach a value of US$ 9,634.3 Mn by 2027 at a CAGR of 6.5% between 2020 and 2027.

Figure 2. Global Orthopedic Braces & Support, Casting & Splints Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Orthopedic Braces & Support, Casting & Splints  | Coherent Market Insights

Market Trends/Key Takeaways

The market in Asia Pacific is driven by increasing number of work-related injuries. For instance, according to Safe Work Australia, Australia recorded 107,335 work-related injuries in 2017-18.

Increasing prevalence of diabetes is boosting growth of the market in Europe. For instance, according to Diabetes UK, over five million people will suffer from diabetes in the U.K. by 2025.

Regulations:

U.S.

  • Orthopedic braces & supports and castings are classified by the U.S. FDA as physical medicine devices under 21 CFR 890 section 3475 of subpart D (Physical Medicine Prosthetic Devices)
  • These devices are exempted from the premarket notification procedures in subpart E of part 807, subject to the limitations in 890.9.
  • These devices are also exempted from the current good manufacturing practice requirements of the quality system regulation in part 820 of chapter I of 21CFR, also exempted from general requirements concerning records (820.180) and complaint files (820.198), unless the device is labelled or otherwise represented as sterile.

Global Orthopedic Braces & Support, Casting & Splints Market: Competitive Landscape

Major players operating in the global orthopedic braces & support, casting & splints market include, 3M, Össur Corporate, BSN medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Orfit Industries N.V., Spencer Italia S.r.l., Prime Medical, Inc., Breg, Inc., Stryker Corporation, and Zimmer Biomet Holdings, Inc.

Global Orthopedic Braces & Support, Casting & Splints Market: Key Developments

Major players in the market are focused on maintaining transparency around the cost of orthopedic braces & support, casting & splints to enhance their market share. For instance, in January 2020, Breg, Inc. released a new software release focused on improving transparency around the cost of durable medical equipment products such as knee braces, shoulder slings, splints, boots and crutches at the time of dispensement.

Orthopedic braces are wearable medical devices that offer appropriate alignment, positional correction, supporting the muscles, stabilizing and protecting several parts of the body, which include joints, bones, and muscles. These devices are mainly prescribed by orthopedics and orthotists to the patients who suffered from major injuries and are used in prophylaxis of these damages. Orthopedic braces and support devices are used by patients immediately after the injury and are suggested to be worn throughout the course of hospitalization, and also during the rehabilitation.

Restraints of the Global Orthopedic Braces & Support, Casting & Splints Market

Major factors hampering the growth of the orthopedic braces & support, casting & splints market during the forecast period constitutes of variations in reimbursement scenario, and high costs of custom products, and fiber equipment.

Key features of the study:

  • This report provides in-depth analysis of the global orthopedic braces & support, casting & splints market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global orthopedic braces & support, casting & splints market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include 3M, Össur Corporate, BSN medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Orfit Industries N.V., Spencer Italia S.r.l., Prime Medical, Inc., Breg, Inc., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global orthopedic braces & support, casting & splints market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation

  • Global Orthopedic Braces & Support, Casting & Splints Market, By Type:
    • Orthopedic Braces and Supports
      • Upper Extremity Braces and Support
      • Low Extremity Braces and Support
    • Casting Supplies & Equipment
    • Splinting Supplies & Equipment
  • Global Orthopedic Braces & Support, Casting & Splints Market, By Distribution Channel:
    • Orthopedic Clinics
    • Hospitals
    • OTC
    • E-Commerce
  • Global Orthopedic Braces & Support, Casting & Splints Market, By Geography:
    • North America
      • By Type
        • Orthopedic Braces and 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
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Type
        • Orthopedic Braces and 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
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Type
        • Orthopedic Braces and 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
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Type
        • Orthopedic Braces and 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
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
        • North Afric
    • Middle East:
      • By Type
        • Orthopedic Braces and 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
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Type
        • Orthopedic Braces and 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
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • 3M*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Össur Corporate
    • BSN medical GmbH
    • DeRoyal Industries, Inc.
    • DJO Global
    • Orfit Industries N.V.
    • Spencer Italia S.r.l.
    • Prime Medical, Inc.
    • Breg, Inc.
    • Stryker Corporation
    • Zimmer Biomet Holdings, Inc.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Distribution Channel
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
  4. Global Orthopedic Braces & Support, Casting & Splints Market, By Type, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Orthopedic Braces and Supports
        • Introduction
        • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • Segment Trends
          • Upper Extremity Braces and Support
          • Low Extremity Braces and Support
    • Casting Supplies & Equipment
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • Splinting Supplies & Equipment
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
  5. Global Orthopedic Braces & Support, Casting & Splints Market, By Type, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Orthopedic Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • OTC
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • E-Commerce
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
  6. Global Orthopedic Braces & Support, Casting & Splints Market, By Regions, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  7. Competitive Landscape
    • Company Profiles
      • 3M
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Össur Corporate
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • BSN medical GmbH
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • DeRoyal Industries, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • DJO Global
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Orfit Industries N.V.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Spencer Italia S.r.l.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Prime Medical, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Breg, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Stryker Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Zimmer Biomet Holdings, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 34 market data tables and 25  figures on “Orthopedic Braces & Support, Casting & Splints Market – Global forecast to 2027.

Frequently Asked Questions

The global orthopedic braces & support, casting & splints market was valued at US$ 5,839.3 Mn in 2019 and is forecast to reach a value of US$ 9,634.3 Mn by 2027 at a CAGR of 6.5% between 2020 and 2027.
Major factor driving the growth of global orthopedic braces & support, casting & splints market during the forecast period include increasing geriatric population, and increasing cases of accidents.
Major factors hampering the growth of the orthopedic braces & support, casting & splints market during the forecast period constitutes of variations in reimbursement scenario, and high costs of custom products, and fiber equipment.
Orthopedic braces & support held dominant position in the global orthopedic braces & support, casting & splints market in 2019.
North America Orthopedic Braces & Support, Casting & Splints market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are 3M, Össur Corporate, BSN medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Orfit Industries N.V., Spencer Italia S.r.l., Prime Medical, Inc., Breg, Inc., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
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