Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Orthopedic Braces & Supports Market size is expected to reach $5.1 billion by 2028, rising at a market growth of 6.3% CAGR during the forecast period.
The Hinged segment is showcasing a CAGR of 7% during (2022 - 2028). A hinged knee brace is appropriate for athletes who require stability and protection following surgery or in the event of ACL, MCL, or PCL injuries. Ligament injuries can occur in a variety of ways, including a severe twist, inadequate alignment (knee to ankle), or landing incorrectly. A hinged brace protects the athlete's knee while also providing stability and support to speed up recovery. Hinges are known to protect the ACL and prevent hyperextension of the knee.
The Knee segment acquired maximum revenue share in the Global Orthopedic Braces & Supports Market by Product in 2021, thereby, achieving a market value of $1.2 billion by 2028. This is owing to the numerous benefits provided by these products, including medial and lateral support, reduced knee rotation, limited injury during motion, and protection from post-surgical injury risk. One method for treating the pain of knee osteoarthritis is a knee brace. By removing the weight away from the most affected part of the knee, a brace may help the user feel better. Wearing a brace can increase the mobility and allow them to walk for longer periods of time. Knee arthritis braces come in a variety of styles. An unloader brace transfers weight away from the afflicted area of the knee.
The Hospitals & Surgical Centers segment is leading the Global Orthopedic Braces & Supports Market by Distribution Channel in 2021; thereby, achieving a market value of $2.2 billion by 2028. The rising number of orthopedic surgical procedures that necessitate postoperative patient rehabilitation, as well as favorable reimbursement for customized braces and supports across major countries. This has led to rising sales of orthopedic braces & support in hospitals and surgical centers.
The Compression Therapy segment has shown growth rate of 7.4% during (2022 - 2028). Compression therapy involves applying mild pressure to the leg with compression socks, stockings, boots, or bandages. In addition, Compression therapy has been given by doctors for thousands of years, dating back to the Hippocrates of ancient Greece. Compression therapy's benefits are still being discovered by modern science.
North America is the fastest growing region in the Global Orthopedic Braces & Supports Market by Region in 2021, thereby, achieving a market value of $1.7 billion by 2028, growing at a CAGR of 4.8 % during the forecast period. The Europe market is estimated to witness a CAGR of 5.5% during (2022 - 2028). Additionally, The Asia Pacific market would exhibit a CAGR of 8.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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