LAMEA Orthopedic Braces & Supports Market Size, Share & Industry Trends Analysis Report By Type (Soft & Elastic, Hard, and Hinged), By End User, By Distribution Channel, By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Orthopedic Braces & Supports Market would witness market growth of 9.6% CAGR during the forecast period (2022-2028).
The increased popularity of orthopedic products and commercialization of treatment processes have come from an increase in the number of orthopedic disorders around the world. Other factors projected to drive the market growth include the fast-growing sports industry sector, an increase in the number of accidental accidents, and increased sales of online and off-the-shelf items.
Orthopedic braces are medical instruments that are used to treat musculoskeletal problems such as properly aligning, correcting posture, and protecting muscles, joints, and bones as they heal from injury or damage. They're becoming more popular than other intrusive treatments because they're less uncomfortable and help with speedy recovery while reducing the risk of post-surgical problems.
Sports-related injuries are on the rise as the number of sports activities increases. Athletes are mostly interested in fitness-related activities such as running, cycling, and other similar hobbies. While such activities provide health benefits, they are more likely to experience injuries, which can lead to ligament injury. Ankle ligament tears are common among indoor sportsmen. Ankle braces are also advised by orthopedics following an acute ankle sprain. Athletic braces are also used by athletes to prevent themselves from future injury while participating in sports. It aids them in limiting unnecessary movement during matches, allowing them to play more comfortably.
Orthopedic braces and supports are gathering steam across this region in the clinical management of a variety of orthopedic disorders, including rheumatoid arthritis (RA), osteoarthritis (OA), carpal tunnel syndrome, and osteoporotic fractures, due to their superior clinical efficacy and rapid recovery compared to conventional therapies such as pain medications.
The growing issue of musculoskeletal disorders as a result of stressful working environments and poor posture is driving the South African orthopedic braces and supports the sector. Furthermore, the increased number of road accidents in the region is boosting the industry. According to the International Transport Forum's 2019 Road Safety Annual Report, the number of road fatalities in South Africa increased by 52 percent between 2000 and 2018.
The Brazil market dominated the LAMEA Orthopedic Braces & Supports Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $119 million by 2028. The Argentina market is experiencing a CAGR of 10.2% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 9.3% during (2022 - 2028).
Based on Type, the market is segmented into Soft & Elastic, Hard, and Hinged. Based on End User, the market is segmented into Knee, Ankle, Foot Walkers & Orthoses, Elbow, Hand & Wrist, Shoulder, Hip, Back, & Spine, and Others. Based on Distribution Channel, the market is segmented into Hospitals & Surgical Centres, Orthopedic Clinics, Pharmacies & Retailers, E-commerce platforms, and Others. Based on Application, the market is segmented into Ligament Injury, Osteoarthritis, Compression Therapy, Preventive Care, Post-operative Rehabilitation, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DJO Global (Colfax Corporation), 3M Company, Essity AB, Ossur Hf., Orthofix Medical, Inc. (Breg, Inc.), Zimmer Biomet Holdings, Inc., Ottobock SE & Co. KGaA, Nippon Sigmax Co., Ltd., Bauerfeind AG, and Becker Orthopedic.
Scope of the Study
Market Segments Covered in the Report:
- Soft & Elastic
- Foot Walkers & Orthoses
- Hand & Wrist
- Hip, Back, & Spine
By Distribution Channel
- Hospitals & Surgical Centres
- Orthopedic Clinics
- Pharmacies & Retailers
- E-commerce platforms
- Ligament Injury
- Compression Therapy
- Preventive Care
- Post-operative Rehabilitation
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- DJO Global (Colfax Corporation)
- 3M Company
- Essity AB
- Ossur Hf.
- Orthofix Medical, Inc. (Breg, Inc.)
- Zimmer Biomet Holdings, Inc.
- Ottobock SE & Co. KGaA
- Nippon Sigmax Co., Ltd.
- Bauerfeind AG
- Becker Orthopedic
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