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). Growth in the orthopedic braces and supports market is mainly driven by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability and market availability, rising number of sports and accident-related injuries, and growing public awareness of preventive care. Increased sales of off-the-shelf and online products, and the expansion and promotion initiatives undertaken by major product manufacturers are also expected to provide a wide range of growth opportunities for players in the market. On the other hand, the limited patient qualification for bracing-mediated orthopedic treatment, limited clinical evidence to support the therapeutic efficacy of orthopedic braces, and the high adoption of pain medications are the major factors expected to limit market growth to a certain extent in the coming years.
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Orthopedic braces and supports Market Dynamics
Drivers: Increasing prevalence of orthopedic diseases & disorders, Continuous product commercialization, Greater product affordability and market availability, Rising number of sports and accident related injuries and, Growing public awareness about preventive care
The incidence of orthopedic diseases & disorders is expected to increase further in the coming years with the rising prevalence of obesity and related lifestyle disorders, as obese individuals are at a greater risk of orthopedic & musculoskeletal injuries as well as diabetes. Orthopedic braces and supports offer several benefits, such as better affordability, higher efficacy, greater patient comfort, and ease of use compared to conventional products. Due to these benefits, key players are increasingly developing specialized products for the treatment of various orthopedic diseases as well as to address the unmet market needs.
Restraints: Limited patient qualification for bracing-mediated orthopedic treatment and limited clinical evidence to support the therapeutic efficacy of orthopedic braces
Bracing and support products are utilized to effectively manage orthopedic disorders and diseases, with physicians and orthopedic surgeons considering these products clinically necessary for specific conditions. However, in several cases (depending on the severity of the disease and its side effects as well as the patient’s physiology & age), patients do not qualify for bracing products.
Innovative orthopedic braces are increasingly being adopted by major end-user facilities (such as hospitals, surgical centers, and orthopedic clinics) across developed markets such as the US, Germany, the UK, and Japan. However, end-user facilities across emerging and less-developed markets are reluctant to adopt novel products due to a lack of awareness and affordability. These users also prefer to utilize traditional/well-established products with proven clinical evidence to support their therapeutic/diagnostic role.
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Opportunities: Increased sales of off-the-shelf and online products coupled with expansion and promotion initiatives undertaken by major product manufacturers.
Specific orthopedic braces can only be used under the supervision of medical practitioners or orthopedic technicians as they require customization or product alteration according to patient features. However, some braces (such as ankle braces, wrist/hand braces, shoulder braces, elbow braces, and facial braces) are increasingly being sold by retailers (off-the-shelf) and e-commerce websites since their use does not require supervision. Patients regularly use such products to prevent injuries.
Challenges: Significant adoption of pain medications
Topical, oral, and parenteral pain medications are widely used to effectively manage pain associated with musculoskeletal disorders such as tendinitis, carpal tunnel syndrome, and osteoarthritis. Although orthopedic braces are used as part of a noninvasive approach for pain management during compression therapy (cold, hot, or conventional compression therapy), the adoption of pain medication for such applications is high owing to the low awareness about the benefits of orthopedic braces as well as the unfavorable reimbursement scenario for these products, creating a challenge for this market.
The hospitals and surgical centers segment accounted for the largest market share in the global orthopedic braces and supports market
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 & surgical centers are expected to be the largest distribution channel 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 is expected to grow at the highest CAGR in the orthopedic braces and supports market during the forecast period
The Asia Pacific region is expected to be the fastest-growing region during the study period. The demand for orthopedic braces and supports in the APAC is supported by to 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. Owing to the high-growth potential of the region, leading product manufacturers are undertaking strategic initiatives such as product commercialization to maintain their market position.
Recent Developments:
In July 2021, DJO LLC (US), renewed its partnership with USA Lacrosse. DJO has been the Official Sports Brace of USA Lacrosse and the US National Teams since 2017; the renewal extends the partnership to 2024.
In July 2021, Ossur HF (Iceland) launched the Rebound Post-Op Elbow Brace.
In Feb 2021, Breg, Inc. (US) launched within the spinal braces segment - 15 new products of the Pinnacle and the Ascend Portfolio.
In June 2020, DJO LLC (US) launched the X-ROM Post-Op Knee Brace.
Key Market Players
The vendors operating in the orthopedic braces and supports industry include DJO Finance LLC (US), Ossur HF (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), and Essity (Sweden) were the top five players in the global orthopedic braces and supports market. Other prominent players operating in this market include 3M (USA), Ottobock Holding GmbH (Germany), Thuasne Group (France), Zimmer Biomet Holdings, Inc. (US), ALCARE (Japan), Bird & Cronin, Inc. (US), Nippon and Sigmax (Japan), and Becker Orthopedic (US), among others.
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