Orthopedic Braces Market is expected to cross USD 5.57 Billion by 2030 at a CAGR of 6.20%.
Orthopedic Braces Market is expected to cross USD 5.57 Billion by 2030 at a CAGR of 6.20% during the forecast period 2022-2030. An increasing prevalence of osteoarthritis is set to drive the demand for orthopedic braces.
In the UK, approximately 8.75 million people aged 45 and above that constitute 33% of the total population have sought treatment for osteoarthritis. Thus, people with osteoarthritis are the primary consumer base for the orthopedic braces market.
Orthopedic Braces Market Synopsis
An increase in the number of orthopedic surgeries is expected to drive the growth of the global orthopedic braces market.
Major companies are concentrating on mergers and acquisitions, new product developments, and regional expansions. For instance, in February 2018, Breg, Inc. introduced a new ankle brace, Ultra Aurora, to strengthen its product portfolio. Thus, major manufacturers are focusing on product launches in orthopedic braces which ultimately drives the growth of the orthopedic braces market.
Orthopedic Braces Market Segmentation
Orthopedic Braces Market Key Players
|Market Size||2030: USD 5.57 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Type, Application, End-User and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Bauerfeind (Germany), Breg, Inc. (US), DeRoyal Industries, Inc. (US), Ottobock (Germany), DJO LLC (US), BSN medical (Germany), Weber Orthopedic Inc. (US), Aspen Medical Products (US), Frank Stubbs Company Inc. (US), THUASNE SA (France)|
|Key Market Opportunities||
|Key Market Drivers||
The global orthopedic braces market is projected to reach a valuation of USD 5.57 BN by 2030.
The global orthopedic braces market is projected to grow at approximately 6.20% CAGR during forecast period (2022-2030).
DeRoyal Industries, Inc. (US), Bauerfeind (Germany) Breg, Inc. (US), Ottobock (Germany), Weber Orthopedic Inc. (US), DJO LLC (US) BSN medical (Germany), Aspen Medical Products (US), THUASNE SA (France), and Frank Stubbs Company Inc. (US), are some of the major players operating in the orthopedic braces market.
North America holds the largest share in the global orthopedic braces market, followed by Europe and the Asia Pacific, respectively.
Increase in the number of orthopedic surgeries