DUBLIN, April 07, 2022--(BUSINESS WIRE)--The "Orthopedic Braces & Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Neck, Elbow, Hand, Wrist), Category (Soft, Rigid, Hinged), Application (Ligament (ACL, LCL), Preventive, OA), Distribution (Pharmacies) & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global orthopedic braces and supports market is estimated to reach USD 4.6 billion by 2027 from USD 3.4 billion in 2022, at a CAGR of 5.8% during the forecast period (2022-2027).

The knee braces and supports segment accounted for the largest share of the orthopedic braces and supports market, by product

Based on product, the orthopedic braces and supports market is segmented into knee braces and supports; ankle braces and supports; back, hip, & spine braces and supports; foot walkers and orthoses; hand & wrist braces and supports; shoulder braces and supports; elbow braces and supports; and facial braces and supports. The knee braces and supports segment is expected to witness the highest growth during the forecast period primarily due to the several benefits offered by these products, such as medial and lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.

The soft & elastic braces and supports segment accounted for the largest share of the orthopedic braces and supports market, by type

Based on type, the orthopedic braces and supports market is segmented into soft & elastic braces and supports, hard braces and supports, and hinged braces and supports. The soft & elastic braces and supports segment is expected to register the highest growth rate during the forecast period. Growth in this market can primarily be attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative & preventive care, and the supportive reimbursement scenario for target products across mature markets.

Ligament injuries captured the largest market share in the orthopedic bracing and support applications market

Based on the application, the orthopedic braces and supports market is segmented into preventive care, ligament injury, post-operative rehabilitation, osteoarthritis, compression therapy, and other applications. The ligament injury segment is expected to command the largest share of the market in 2022. The large share of this segment can be attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), the rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries.

Hospitals and Surgical Centres to account for the largest market share in the global orthopedic braces and supports market, by distribution channel

Based on the distribution channel, the orthopedic braces and supports market is classified into orthopedic clinics, hospitals & surgical centers, pharmacies & retailers, e-commerce platforms, and other end users. Hospitals and surgical centers are expected to be the largest end-user segment in the orthopedic braces and supports market in 2022. Market growth can largely be attributed to the growing number of orthopedic surgical procedures that require post-operative patient rehabilitation and the favorable reimbursement for customized braces and supports (coupled with the growing availability of insurance coverage for the surgical treatment of orthopedic disorders such as ligament injury, bone deformity, scoliosis, and osteoporosis) across major countries.

Asia Pacific to register the highest growth rate in the orthopedic braces and supports market during the forecast period.

The orthopedic braces and supports market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region is expected to be the fastest-growing region during the study period. The demand for orthopedic braces and support in the APAC is supported by the rising geriatric and obese population (coupled with the significant prevalence of orthopedic & diabetes-related diseases in this population segment) and increasing healthcare expenditure in APAC countries.

Increasing Prevalence of Orthopedic Diseases and Disorders

Greater Product Affordability and Market Availability

Rising Number of Sports and Accident-Related Injuries

Growing Public Awareness About Preventive Care

Limited Patient Qualification for Bracing-Mediated Orthopedic Treatment

Limited Clinical Evidence to Support the Therapeutic Efficacy of Orthopedic Braces

Increased Sales of Off-The-Shelf and Online Products

Expansion and Promotion Initiatives Undertaken by Major Product Manufacturers

Significant Adoption of Pain Medication

Medi GmbH & Co. Kg

Vissco Rehabilitation Aids Pvt. Ltd.

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