Global Orthopedic Braces & Supports Market is Expected to Reach $4.3 Billion by 2020

Date: 2015-10-30

Orthopedic braces and supports are devices that are used to support and strengthen muscles and joints. These are used in prophylaxis of injury and patient care settings, right from the emergency room through the hospitalization period to rehabilitation and after care. 

The global orthopedic braces & supports market is expected to reach $4.3 billion by 2020, at a CAGR of 5.0% from 2015 to 2020. The rising awareness levels of orthopedic braces among people and increasing cases of road accidents and sports injuries are the major factors influencing the growth of the market.

 Orthopedic braces and supports are designed to protect, support, and correct injuries; these are predominantly used in injury rehabilitation, injury prevention, osteoarthritic care, and post-operative care, among others. Based on the condition for which these are used orthopedic braces & supports are segmented in four types, namely, knee braces and supports, foot and ankle braces & supports, spinal orthoses, and upper extremity braces and supports. The knee braces & supports segment accounted for the largest share of 42.5% of the market in 2014 and was valued at 1.4 billion in the same year. 

In 2014, Asia-Pacific (APAC) contributed a share of 14.1% to the global orthopedic braces & support systems market, which can be attributed to the low cost of production in the region. The major markets in this region include China, Japan, Korea, Malaysia, and India. Japan is the largest market for orthopedic braces and support products, and contributed more than 70.0% to the Asian orthopedics braces & supports systems market in 2014. Majority of the products are imported from the U.S. and European countries, including Germany, U.K., Italy, Switzerland, and France. Only the Japanese and South Korean markets are mature in terms of advanced orthopedic braces treatments.

The report includes company profiles of major players, recent activities in the market, new product launches, mergers & acquisitions, collaborations and partnerships, and SWOT analysis. Some of the companies profiled in this report include Bauerfeind AG (Germany) Breg, Inc. (U.S.) DeRoyal Industries, Inc. (U.S.), DJO, LLC (U.S.), Ossur (Iceland), Ottobock (Germany), and BSN Medical (Germany).

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