Pune, Oct. 03, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global orthopedic bracing and support devices market is expected to clock US$ 7.38 billion by 2030 and to grow at a CAGR of 6.2% during the forecast period. This exclusive information is published by Growth Plus Reports in its report titled “Orthopedic Bracing and Support Devices Market – Global Outlook & Forecast 2022-2030” Owing to the increased prevalence orthopedic disorders and rising in road and workplace accidents.

The primary reasons propelling the worldwide orthopedic bracing and support devices market growth are the rising prevalence of orthopedic disorders and the rising incidence rate of accidental injuries. Additionally, the need for orthopedic bracing and support devices is rising as a result of an ageing population and increased awareness of preventive and rehabilitation care. Increased sales through off-the-shelf and online channels, rapid product commercialization, and the availability of reasonably priced products are all contributing to the market expansion. The incidence of sports injuries is also increasing due to the rapidly expanding sport sector, and the expansion and promotional efforts of the top market players to promote orthopedic bracing and supports are also supporting the market growth.

The global orthopedic bracing and support devices market has been analyzed from four perspectives – product, application, distribution channel, and region.

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Excerpts from ‘By Product Segmentation’

Based on product type, the global orthopedic bracing and support devices market is bifurcated in upper extremity braces and supports, and lower extremity braces and supports. The lower extremity braces and supports have the largest market share of the global market in 2021. The lower extremity braces and supports segment is further classified in ankle braces and supports, knee braces and supports, foot braces and supports, & back, hip and spine braces and supports. The rising geriatric population, which is more susceptible to osteoarthritis and the increase in lower extremity injuries, is largely responsible for the large share of lower extremity braces and supports. According to the research conducted by the Consumer Product Safety Commission estimates that there are 2.29 knee injuries for every 1,000 people in U.S. in which strains and sprains is the most common knee injury with 42.1%.

Excerpts from ‘By Application Segmentation’

Based on application, the global orthopedic bracing and support devices market is segmented in into preventive care, injury, post-operative rehabilitation, osteoarthritis, and others. The injury segment has the largest market share of the global orthopedic bracing and support devices market in 2021. The large share of the segment can be attributed to rise in the workplace and road accidents. According to the International Labor Organization, around 2.3 million people are affected by workplace accidents worldwide every year. Additionally, the increased number of the sport related injuries is also boosting the market growth.

Excerpts from ‘By Region Segmentation’

Based on region, the global orthopedic bracing and support devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global orthopedic bracing and support devices market in 2021, followed by Europe and Asia Pacific. The significant market position of North America in the global market for orthopedic bracing and support devices can be largely due to the increase in the number of elderly population and the prevalence of orthopedic disorders. Additionally, the increase in workplace and road accidents, as well as sports injuries, is significantly contributing to the expansion of the region. According to the Centers for Disease Control and Prevention around 7 million injuries related to sports occur every year in U.S. Increasing rates of obesity and the presence of major businesses in the area are two additional factors promoting market expansion.

Some of the prominent players operating in the global orthopedic bracing and support devices market are Ossur HF, Ottobock SE & Co. KGaA, DeRoyal Industries Inc., Breg Inc., DJO Global Inc. (Enovis), Zimmer Biomet, Bauerfeind AG, Thuasne SAS, BSN Medical, Bird and Cronin LLC., 3M Company, Nippon Sigmax Co. LTD, Essity AB, and Trulife Group Limited amongst others.

Currency Used in the Report

Current Market Trends (COVID-19 Perspective)

Key Players & Competitive Positioning (2021)

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