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  • Published On : Oct 2022
  • Code : CMI417
  • Industry : Medical Devices
  • Pages : 177
  • Formats :

Orthopedic braces are a class of wearable medical devices that provide the body's joints, bones, and muscles with the proper alignment, positional correction, support, stabilization, and protection. Orthotists and orthopaedic surgeons typically recommend these devices to patients who have sustained severe injuries and use them to prevent further harm. Products in the global market for orthopaedic braces, support, casting, and splints help relieve joint pain, particularly in cases of sports injuries and chronic orthopaedic conditions like arthritis. Stabilizing and treating joint abnormalities is the main purpose of the products in the global orthopaedic braces & support, casting & splints market.

Global orthopedic braces & support, casting & splints market is estimated to be valued at US$ 7,399.5 million in 2022 and is expected to exhibit a CAGR of 6.5% during the forecast period (2022-2030).

Figure 1. Global Orthopedic Braces & Support, Casting & Splints Market Share (%), by Type, 2022

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

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

Increasing prevalence of orthopedic diseases & disorders is expected to drive growth of the global orthopedic braces & support, casting & splints market

Increasing prevalence of orthopedic diseases & disorders such as osteoarthritis is expected to drive market growth over the forecast period. For instance, according to the world health organization (WHO), as on 14 July, 2022, there are about 528 million people suffering from osteoarthritis globally.

Figure 2. Global Orthopedic Braces & Support, Casting & Splints Market Share (%), by Region, 2022

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

Increasing geriatric population is expected to propel growth of the global orthopedic braces & support, casting & splints market over the forecast period.

Increasing geriatrics population is expected to drive market growth over the forecast period. For instance, according to the world health organization (WHO), on 1 October, 2022, between 2015 and 2050, the proportion of the world's population over 60 years will nearly get double from 12% to 22% and by 2050, the world’s population of people aged 60 years and older will be around 2.1 billion.

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Orthopedic Braces & Support, Casting & Splints Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 7,399.5 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 6.5% 2030 Value Projection: US$ 12,232.1 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and 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 prevalence of orthopedic diseases & disorders
  • Increasing geriatric population
Restraints & Challenges:
  • Variation in the reimbursements scenario

Global 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 had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another. The COVID-19 pandemic had limited impact on global orthopedic braces & support, casting & splints market due to the lockdown in many countries, patient visits to hospitals have been reduced significantly. As a result, the number of diagnostic tests has reduced.

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

On August 30, 2021, Zimmer Biomet Holdings, Inc., a medical device company, and Canary Medical, a medical data company jointly announced that they have received the U.S. Food and Drug Administration (FDA) De Novo classification grant and authorization to market the tibial extension for Persona IQ, the world's first smart knee cleared by the FDA for total knee replacement surgery.

Global 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 orthopedic braces & support, casting & splints market growth.

Key Players

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.

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. Products in the global orthopedic braces & support, casting & splints market also aid in alleviation of joint pains, especially in sporting injuries as well as in chronic orthopedic conditions such as arthritis. Primary function of the products in the global orthopedic braces & support, casting & splints market is to stabilize and correct the joint abnormalities. 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.

Market Dynamics

Increase in the geriatric population living with various chronic or acute orthopedic conditions is one of the most important drivers of the global orthopedic braces & support, casting & splints market. Furthermore, rising instances of musculoskeletal disorders is also contributing to growth of the global orthopedic braces & support, casting & splints market over the forecast period. Moreover, rising instances of sports injuries as well as increasing number of roadside accidents are also driving the global orthopedic braces & support, casting & splints market growth. For instance, as per the data published in 2017, by the Ministry of Road Transport and Highways, a branch of the government of India, there were over 36 road accidents reported per one lakh of population.

Key features of the study:

  • This report provides an 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 (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global orthopedic braces & support, casting & splints market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • 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 the companies to make informed decisions regarding their future product launches, type 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 global orthopedic braces & support, casting & splints 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 Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • 3M *
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • 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.

Frequently Asked Questions

Global orthopedic braces & support, casting & splints market size is estimated to be valued at US$ 7,399.5  million in 2022 and is expected to exhibit a CAGR of 6.5% between 2022 and 2030.
Factors such as increasing prevalence of orthopedic diseases & disorders and increasing geriatric population are expected to drive the market growth.
Orthopedic Braces and Supports is the leading type segment in the market.
The major factors hampering growth of the market include variations in reimbursement scenario 
Major players operating in the 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.

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