According to a new report, published by KBV research, The Global Knee Braces Market size is expected to reach $2.6 billion by 2031, rising at a market growth of 4.6% CAGR during the forecast period. In the year 2023, the market attained a volume of 15,490.2 thousand units, experiencing a growth of 5.7% (2020-2023).
As osteoarthritis affects millions of people worldwide, there is a growing demand for knee braces to help manage symptoms such as pain, instability, and reduced mobility. According to the data given by WHO updated in 2023, in 2019, about 528 million people worldwide were living with osteoarthritis, an increase of 113% since 1990. About 73% of people living with osteoarthritis are older than 55 years, and 60% are female. 344 million people living with osteoarthritis experience severity levels (moderate or severe) that could benefit from rehabilitation. The expanding pool of osteoarthritis patients drives growth in the knee braces market.
The adoption of knee braces has been widespread across various demographic groups, reflecting these orthopedic devices’ diverse applications and benefits. For instance, knee braces are in demand among active individuals and fitness enthusiasts engaged in various physical activities. Whether jogging, cycling, weightlifting, or participating in yoga sessions, individuals seek knee braces to support their knees and reduce the risk of overuse injuries. The adoption of knee braces among active individuals is motivated by the desire to maintain joint health, alleviate discomfort, and optimize performance during exercise routines.
The Retail segment is experiencing a CAGR of 5% during (2024 - 2031). Retail outlets, including pharmacies, sports stores, and medical equipment shops, offer immediate access to knee braces for customers needing quick relief or support. Unlike online purchases that may involve shipping delays, retail stores allow customers to purchase knee braces on the spot and begin using them immediately. Also, retail stores allow customers to receive personalized assistance from knowledgeable sales staff or healthcare professionals.
The Functional segment is leading the Global Knee Braces Market by Product in 2023; thereby, achieving a market value of $834.4 million by 2031. During rehabilitation after an injury or surgery, functional knee braces are intended to support and stabilize the knee joint. These braces offer adjustable compression, hinges, and customizable fit to support the knee while allowing controlled movement. They are commonly used by individuals recovering from ligament injuries and other knee injuries requiring rehabilitation.
The Ligament segment is registering a CAGR of 5.3% during (2024 - 2031). Ligament injuries, such as anterior cruciate ligament tears (ACL), are frequent in athletes and people who play high-impact sports or engage in high-impact activities. Knee braces designed specifically for ligament support and stabilization are often recommended for treating and rehabilitating these injuries. As sports participation continues to rise and awareness of the importance of injury prevention grows, the demand for knee braces in the ligament segment increases.
Full Report: https://www.kbvresearch.com/knee-braces-market/
The North America region dominated the Global Knee Braces Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $838.5 million by 2031. The Europe region is poised to grow a CAGR of 4.3% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 5.3% during (2024 - 2031).
By Delivery Channel (Volume, Thousand Units, USD Billion, 2020-2031)
By Product (Volume, Thousand Units, USD Billion, 2020-2031)
By Application (Volume, Thousand Units, USD Billion, 2020-2031)
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
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