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Orthopedic Braces Market Research Report Information By Product (Knee Braces, Foot and Ankle Braces, Upper Extremity Braces And Others), By Type (Soft & Elastic Braces, Hinged Braces, and Hard Braces), By Application (Ligament Injury, Preventive Care, Post-Operative Rehabilitation, Osteoarthritis And Others), By End-User (Orthopedic Clinics, Hospitals & Surgical Centers And Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/HC/6900-HCR | 100 Pages | Author: Rahul Gotadki| June 2024

Global Orthopedic Braces Market Overview

Orthopedic Braces Market Size was valued at USD 4.5 billion in 2023. The orthopedic braces market industry is projected to grow from USD 4.78 Billion in 2024 to USD 7.3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.44% during the forecast period (2024 - 2032). A growing geriatric population and an increase in the number of athletes injured in sports are the key market drivers enhancing the market growth.

Orthopedic Braces Market Overview

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Orthopedic Braces Market Trends

  • Rising orthopedic injuries fuels market growth.

Rising orthopedic injuries are driving the market CAGR for orthopedic braces. Orthopedic injuries are the most prevalent reason for hospitalization due to accidents and other incidents. Sports injuries are expected to fuel demand for foot and ankle devices. Sports-related injuries are becoming more common as the number of sports activities increases. Athletes are focused on specific fitness-related activities such as cycling, jogging, and others where they are prone to ailments that lead to ligament injury. Plaster cast is more malleable and has a slower setting time than fibreglass in casting and splinting. It takes longer for the material to solidify after being applied and moulded. Plaster of Paris, for instance, produces less heat, minimizing patient discomfort and the danger of burns. Indoor athletes are at a high risk of ligament tear and will produce a significant demand for ankle braces. Athletes typically utilize orthopedic braces to protect themselves from additional harm during sports. According to the American Academy of Orthopedic Surgeons (AAOS), around 25% of sports injuries involve the lower extremities, such as the foot and ankle. Furthermore, the rising number of accidents is a crucial element driving the market's expansion.

 According to the WHO, the healthcare industry will continue to develop faster than the total economy in 2022. In 2022, average per capita health spending in OECD countries was predicted to be more than USD 4,000, while in the United States, it reached about USD 11,000 for each inhabitant. Switzerland, the next greatest spender among OECD countries, spent around two-thirds of this amount on health. Adoption of new technologies and pharmaceuticals may be the single most important factor driving higher healthcare expenditures. Fibrinolysis or angioplasty for myocardial infarction is an example of an effective but pricey treatment. Thus, driving the orthopedic braces market revenue.

Orthopedic Braces Market Segment Insights

Orthopedic Braces Product Insights

The orthopedic braces market segmentation, based on type includes knee braces, foot and ankle braces, upper extremity braces and others. Knee braces held a dominant market share in 2022 and is expected to be the fastest-growing, with a CAGR of 6.7% from 2024 to 2032. Knee braces are medical equipment that treat a wide range of injuries and disorders. Knee braces of various types are used to reduce pain by shifting weight away from the damaged portion of the knee. Sport knee braces provide support and compression for pain alleviation from chronic knee instability, sprains, osteoarthritis, and joint pain. The most crucial advantage of sports knee braces is that they help to prevent re-injury.

Orthopedic Braces Type Insights

The orthopedic braces market segmentation, based on type, includes soft & elastic braces, hinged braces, and hard braces. The soft and elastic braces category is predicted to grow the fastest. The increasing availability of enhanced goods, raising acceptability and patient choice for orthopedic braces in post-operative and preventative care, and a favourable reimbursement landscape for target items in mature markets are driving expansion in this market. Wearing elastic bands helps the upper and lower teeth and/or jaws fit better, resulting in a superior bite. Elastic bands aid in bite correction and are essential during the bite-fixing phase of orthodontic treatment, which is often the most time-consuming and challenging element of the entire process.

Orthopedic Braces Application Insights

The orthopedic braces market is segmented by application, which includes ligament injury, preventative care, post-operative rehabilitation, osteoarthritis, and others. The ligament injury category is predicted to have the biggest market share in 2022. The increased public engagement in sports and athletic activities (combined with the rising frequency of sports-related injuries), the increasing number of accidents ly, and the increasing availability of medical coverage for ligament injuries all contribute to the expansion of this industry.

Orthopedic Braces End-User Insights

End-user segmentation in the orthopedic braces market includes orthopedic clinics, hospitals & surgical centers, and others. Because of an increase in the number of orthopedic procedures performed at these clinics, as well as good post-surgery rehabilitation facilities, the orthopedic clinics category will account for the biggest revenue market share in 2022. Because orthopedic injuries and car accidents are the most common reasons for hospitalization, the hospital sector is predicted to increase at the fastest CAGR of 6.5% between 2024 and 2032.

Figure1 Orthopedic Braces Market, by End-User, 2022 & 2032 (USD billion)Orthopedic Braces Market by End-User

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Orthopedic Braces Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. In 2022, North America dominated the orthopedic braces and supports market, due to the presence of significant companies and technologically advanced hospitals in the United States and Canada. Europe had the second-largest market share due to an aging population and the prevalence of chronic illnesses, which resulted in an increase in the number of procedures.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2 Orthopedic Braces Market Share by Region 2022 (%)ORTHOPEDIC BRACES MARKET SHARE BY REGION

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe orthopedic braces market accounts for the second-largest market share due to the expanding prevalence of osteoarthritis and growing government attempts to fund research activities in the field of orthopedic bracing and support systems. Further, the German orthopedic braces market held the largest market share, and the UK orthopedic braces market was the fastest-growing market in the European region

The Asia-Pacific Orthopedic Braces Market is expected to grow at the fastest CAGR from 2024 to 2032. This is because of the corporations' investments in expanding their regional presence and developing healthcare infrastructure. Moreover, China’s orthopedic braces market held the largest market share, and the Indian orthopedic braces market was the fastest-growing market in the Asia-Pacific region.

Orthopedic Braces Key Market Players& Competitive Insights

Leading market players are investing heavily in R&D in order to expand their product lines, which will help the orthopedic braces market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, orthopedic bracesindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the orthopedic braces industry to benefit clients and increase the market sector. In recent years, the orthopedic braces industry has offered some of the most significant advantages to medicine. Major players in the orthopedic braces market, including Weber Orthopedic Inc, (US), Aspen Medical Products (US), Frank Stubbs Company Inc. (US). THUASNE SA (France). and others, are attempting to increase market demand by investing in R&D operations.

Ossur hf. is an Icelandic firm that develops, manufactures, and sells non-invasive orthopaedic equipment, such as bracing and support items, compression therapy, and prostheses. The corporation is based in Reykjavik, Iceland, and has offices across the Americas, Europe, and Asia, as well as distributors in other regions. ssur was formed in 1971 in Iceland by ssur Kristinsson, a prosthetist. His family held the company until 1999, when it went public and was listed on the Iceland Stock Exchange. Initially serving mainly the native Icelandic market, the company began exporting in 1986 and expanded swiftly through a series of smart acquisitions. In September 2021, Ossur, a leader in prosthetic and non-invasive orthopedic technologies, has introduced the new Rebound Post-Op Elbow Brace, a non-invasive, lightweight, adjustable brace designed to provide elbow immobilization and range-of-motion restriction for patients suffering from a variety of conditions such as chronic elbow injuries and tennis elbow release.

Optum, Inc. is an American healthcare services company that offers technology and related services, pharmacy care services (including a pharmacy benefit manager), and a variety of direct healthcare services. Since 2011, it has been a subsidiary of UnitedHealth Group. UHG created Optum by combining its current pharmacy and care delivery services under the Optum brand, which consists of three major businesses OptumHealth, OptumInsight, and OptumRx. Optum contributed for 44 percent of UnitedHealth Group's profits in 2017, and Optum's revenues have topped $100 billion as of 2019. In August 2021, OPUM and Thuasne Group have entered into a collaboration to develop a digital solution for the non-invasive, non-pharmacological treatment of osteoarthritis. Thuasne Group will leverage the strength of its flagship Rebel Reliever OA knee brace and its trusted Townsend Motion hinge with this collaboration.

Key Companies in the orthopedic braces market include

  • Bauerfeind (German)

  • Breg Inc. (US)

  • DeRoyal Industries Inc. (US

  • Ottobock (German)

  • DJO LLC (US)

  • BS medical (German)

  • Weber Orthopedic Inc. (US)

  • Aspen Medical Products (US)

  • Frank Stubbs Company Inc. (US)

  • THUASNE SA (France)

Orthopedic Braces Industry Developments

September 2020, DJO will release the DonJoy X-ROM Post-Op Knee Brace. The product is stated to be one of the most advanced range of motion (ROM) protection, with an improved user-friendly design for quicker and faster application and adjustment. The X-ROM brace aids patients in their recovery after ACL reconstruction and other knee procedures. It increases comfort, stability, and confidence.

June 2019, Wasp has established a digital orthopedic laboratory where patients may get personalized 3D printed medical support equipment.

May 2020, Townsend Design has announced the launching of a new arthritic knee brace in North America, which is designed to decrease discomfort by reducing load on the side of the knee.

Orthopedic Braces Market Segmentation

Orthopedic Braces Market by Product Outlook

  • Knee Braces

  • Foot and Ankle Braces

  • Upper Extremity Braces

  • Others

Orthopedic Braces Market by Type Outlook

  • Soft & Elastic Braces

  • Hinged Braces

  • Hard Braces

 Orthopedic Braces Market by Application Outlook

  • Ligament Injury

  • Preventive Care

  • Post-Operative Rehabilitation

  • Osteoarthritis

  • Others

 Orthopedic Braces Market by End-User Outlook

  • Orthopedic Clinics

  • Hospitals & Surgical Centers

  • Others

Orthopedic Braces Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Orthopedic Braces Report Scope
Report Attribute/Metric Details
Market Size 2023 USD 4.5 billion
Market Size 2024 USD 4.78 billion
Market Size 2032 USD 7.3 billion
Compound Annual Growth Rate (CAGR) 5.44% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Type, Application, End-User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  Bauerfeind (Germany), Breg Inc. (US), DeRoval Industries, Inc. (US). Ottobock (Germanv). 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 New product introductions.
Key Market Dynamics Athletes are becoming more prone to sports-related ailments.

Frequently Asked Questions (FAQ) :

The orthopedic braces market size was valued at USD 4.5 Billion in 2023.

The market is projected to grow at a CAGR of 5.44% during the forecast period, 2024-2032.

North America had the largest share of the market

The key players in the market are Weber Orthopedic Inc, (US), Aspen Medical Products (US), Frank Stubbs Company Inc. (US). THUASNE SA (France).

The Knee Braces orthopedic braces category dominated the market in 2022.

The ligament injury had the largest share of the market.

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