Global Orthopedic Braces Market
Orthopedic braces and supports are used to protect and correct the injuries in different part of the body. They are widely used by patient during the phase of recovery. Soft& elastic braces &supports, hinged braces and supports and hard& rigid braces and supports are some of the common type of the orthopedic braces and supports. There main function is to improve the function of the affected bones and muscles. There are different orthopedic braces and supports for knees, elbows, ankle, backs and wrist. They play very important part during the healing process as they keep the injured part stable and comfortable. They are very useful as they help the injured body part to function properly and reduce the pain.
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Some of the factors accelerating the growth of this market are:
- Rising sport industry sector: Sports is very important part of everyone life and with increasing number of sports worldwide; people are more into sports activity. Sports such as football, cricket, volley ball, hockey, golf, baseball and others are gaining popularity among population. People are not only playing sports for fun but some are also opting it as their career options. Increasing health consciousness among population is also contributing as a factor due to which large population is getting into sports activity and getting injured while playing sports is very common. Large number of population get injuries while playing sports; which is contributing in this orthopedic braces and supports market
- Increased number of accidental injuries: Accidental injuries as the name suggest are those injuries which are unintentional injuries. These injuries cause from any external force against the normal course of events. These accidents can be minor or can be serious. There is increase in the number of accidental injuries worldwide which can damage any part of the body. These accidents can be anything fall, car crash, drowning and others
Few of the acquisitions and launches in the market are as follow:
- In November 2018, Colfax Corporation announced that they are going to acquire DJO Global Inc so that they can provide better orthopedic solutions to the market. This acquisition will help the company to expand their product portfolio, create new innovative products for their customer and will also help them to increase the profitability. This will also strengthen their position in the global market
- In March 2018, Breg, Inc announced the launch of their new Breg Impact which consists of OrthoSelect consulting, Breg Vision software, orthopedic practice solution, BregBill programs and vision cloud connect brands. The main aim of this launch is to help the customers so that they can easily get the services or products which they are looking in a single integrated program
The global orthopedic braces and supports market is segmented on the basis of type as soft & elastic braces and supports, hard & rigid braces and supports, hinged braces and supports; product type is segmented as upper extremity, lower limb neck and spine, pelvis-hip-femura; end-user is segmented as hospitals, clinics, home healthcare and others and distribution channel is segmented as orthopedic clinics, hospitals, over the counter (otc), e-commerce, and prescription.
“According to Data Bridge Market Research, global orthopedic braces and supports market is estimated to reach USD 6.8 billion by 2026 registering a substantial CAGR in the forecast period of 2019- 2026”
Few of the major market competitors currently working in the global orthopedic braces and supports market are DJO global, Zimmer Biomet, Medtronic, Smith and Nephew, Stryker, Össur, NuVasive®, Inc., Integra LifeSciences, Globus Medical Inc., DePuy Synthes, Ottobock., AC Mould Engineering Limited, Johnson & Johnson Services, Inc., Weber Orthopedic Inc., BSN medical, Inc., Becker Orthopedic, OPPO Medical Inc., Langer Biomechanics, McDavid Inc., Frank Stubbs Company Inc., DeRoyal Industries, Inc., Ascent Meditech Limited, Alcare Co., Ltd., among others
Orthopedic braces and supports are very beneficial for the patients as it help them to heal their injured part faster and without any pain. These are suitable for every musculoskeletal issues and also correct the position, protect and stabilize the different part of the body; which creating new opportunities for the market. With the availability of different and more comfortable braces and supports; people are opting these more easily which is further expanding the market growth.
