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Press Release: Rigid Knee Braces Market to Surpass US$ 1,166.8 Million by 2027
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.
Knee braces are made from one or more combination of rigid and flexible materials such as metal, plastic, moldable foam, synthetic rubber, padding or elastic material and straps. Knee braces are available in several sizes and have provision for pressure adjustment. On the other hand, custom knee braces are designed in a way to perfectly fit the exact knee measurements.
During this COVID-19 pandemic situation, any procedure or service that is deemed “non-essential” is being shut down immediately including orthopedic devices like rigid knee braces. This situation have impacted the orthopedic industry negatively with shortage of both doctors and orthopedic devices. In addition to that, the regular hospital visits of many patients have decreased in an alarming rate which negatively impacted the growth of rigid knee braces market.
The global rigid knee braces market is estimated to be valued at US$ 836.6 million in 2020 and is expected to exhibit a CAGR of 4.2% during the forecast period (2020-2027).
Figure 1: Global Rigid Knee Braces Market Share (%) Analysis, By Type, 2020
High incidence rate of osteoarthritis and meniscus injuries are expected to drive growth of the global rigid knee braces market
The prevalence and incidence rate of osteoarthritis and meniscus injuries among the geriatric population are the primary reasons that drive growth of the global rigid knee braces market. The United Nations suggest that number of people aged over 60 years is projected to grow by 56%, accounting a rise from 901 million to 1.4 billion during 2015 to 2030. Moreover, according to the CDC data in 2015, 23.7 million adults in the U.S. have functional limitations in their regular movements due to diagnosed of arthritis, suggesting strong probabilities of prevalence of osteoarthritis. Other factors that are responsible for driving the global knee braces market growth includes knee injury, meniscus injury, use of knee braces as preventive measures to avoid knee injuries by sports players and athletes, and people with genetic effects that have defects in natural collagen production leading to knee pain.
Global Rigid Knee Braces Market - Restraints
However, high cost of knee braces is expected to hamper the global rigid knee braces market growth over the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 836.6 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 4.2% | 2027 Value Projection: | US$ 1,166.8 Mn |
| Geographies covered: |
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| Companies covered: |
Mueller Sports Medicine, Inc., DJO Global, LLC, (Donjoy), ACE Brand, Tynor Orthotics Private Limited, 3M Science, Mava Sports, Bauerfeind AG, Breg, Inc., and Ossur |
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| Restraints & Challenges: |
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Global Rigid Knee Braces Market – Regional Analysis
North America accounted for the largest share in the global rigid knee braces market in 2019, owing to increasing launch of new osteoarthritis knee braces. For instance, in 2015, Townsend Design launched Active Reliever, a soft shell single-upright osteoarthritis (OA) knee brace. This off-the-shelf or custom fitted brace is designed to relieve pain by reducing load on the side of the knee that has been injured or progressively degenerated.
Furthermore, Asia Pacific is also expected to witness significant growth in the global rigid knee braces market, owing to increasing prevalence of arteritis. For instance, according to the Ministry of Health and Family Welfare, Government of India 2016, 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. OA is more common in women than men. Furthermore, according to the same source around 45% of women over the age of 65 years have symptoms while 70% of those over 65 years show radiological evidence of OA.
Figure 2: Global Rigid Knee Braces Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027
Global Rigid Knee Braces Market - Competitive Landscape
Key players operating in the global rigid knee braces market include Mueller Sports Medicine, Inc., DJO Global, LLC, (Donjoy), ACE Brand, Tynor Orthotics Private Limited, 3M Science, Mava Sports, Bauerfeind AG, Breg, Inc., and Ossur.
Knee bracing devices are orthopedic tools that are mainly used for alignment, pain reduction, and maintenance of structural and functional characteristics of the knee. Knee braces offer protection to the knees of patients suffering from osteoarthritis as well as are used in the treatment of meniscus injuries. Apart from these, knee braces can be used as safety devices while playing various sports such as running and soccer, and are also used in injury rehabilitation. These are generally worn in case of knee pain.
Market Dynamics
Increasing prevalence of knee injuries and osteoarthritis are contributing to growth of the global knee braces market. The knee braces are mostly used by patients suffering from osteoarthritis. According to World Health Organization (WHO), over 20% of the world’s population aged over 60, which accounts for around 130 million people, will suffer from osteoarthritis by 2050. Moreover, the National Institute of Health reported 6,664,324 knee injuries in the U.S. from 1999 to 2008 and is expecting a significant increase in this number in 2020. These factors are expected to drive growth of the global knee braces market during the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 34 market data tables and 34 figures on "Global Rigid Knee Braces Market” - Forecast to 2027”
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