Fact.MR has been actively involved in offering comprehensive research data concerning various topics which are associated to industrial reference and investor utility. This particular research report titled “Orthopedic Braces and Support System Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2022” has been added to the wide online database of Fact.MR which discusses the present as well as future market scenario. Readers can access knowledge related to market volume, regional expanse as well as competitive landscape prevailing in the global orthopedic braces and support system market. In order to study development patterns, this smart assessment also focuses on market dynamics, which talks about drivers, restraints and opportunities estimated to influence the concerned market during the period until 2017 to 2022.
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Factors Fuelling Growth of the Global Market
1- Growth of the global orthopedic braces & support system market is mainly bound by various macro-economic and micro-economic factors. Prevalence of spinal deformities, impaired muscles, fracture injury, arthritis, paralysis and sciatic nerve has revved up adoption of orthopedic braces in the global market. A recent report by CDC states that an estimated 22.7% of adults had doctor-diagnosed arthritis in 2015 along with higher age-adjusted prevalence in women (23.5%) then in men (18.1%). Growing prevalence of foot issues has led to increasing adoption of orthotic shoe devices and braces globally.
2- Increasing demand for convenience and comfort has led the manufacturers to focus on integrating innovative features in range of orthotic shoe devices, which offers cushion to keep the foot safe from exertion and keep it in neutral position. Demand for faster restoration process of fracture after removing the cast continues to contribute towards growth of the global orthopedic braces & support system market. Surge in demand to support weak limbs has revved up sales of various orthopedic braces and support products in the global market. Moreover, application of orthopedic braces enables controlling and guiding a joint or injured body part in order to limit or immobilize extremities during the foot injury.
3- In addition, demand for orthopedic braces remain high among obese persons due to growing need for weight management. Obese people face difficulties while walking and moving around attributed to weight issues. Adoption of orthopedic braces continue to remain high among obese persons in order to reduce weight bearing.
4- Moreover, companies in the orthopedic industry continue concentrating on designing orthopedic braces and support systems in parallel with the smart technology. Smart AFO braces, smart spine braces and step smart braces include some of the recently launched orthopedic devices. Companies in this industry is mainly concentrating on development and innovation of products in order to achieve an advantage in the global market. Moreover, manufacturers are increasingly focusing on offering features in the orthopedic devices that allow the end users to avoid bad smell and allows the injured skin to breathe. In order to design products with improved efficiency and accuracy, manufacturers are witnessed to adopt hypoallergenic materials and anatomical modelling software applications. Attributed to water-resistant and lightweight features, demand for orthopedic devices will continue to rev up significantly.
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Technological Advancements to Underscore Lucrative Growth Opportunities
Manufacturers in the orthopedic industry are increasingly focusing on designing the orthopedic braces in line with smart technology. Some of the recently launched orthopedic products equipped with smart technology include step smart braces, smart AFO braces and smart spine braces. Companies operating in this industry are focusing on product innovation and developments in order to gain a competitive edge over the other market players. In order to gain traction in the global market, the companies are designing the smart devices with features that enable the skin to breathe and avoid developing bad smell. Manufacturers are increasingly adopting anatomical modelling software applications and hypoallergenic materials for enhanced accuracy and efficiency in designing the product. As these devices are lightweight and water resistant, demand for the orthopedic devices is likely to increase in the healthcare industry.
Hospitals to Represent a Leading Segment
With the growing prevalence of knee and leg injuries has led to an upsurge in demand for the knee braces & supports. On the basis of product type, the knee braces & supports is expected to generate significant revenues, accounting for a value of over US$ 500 Mn by the end of 2022. The knee braces & support product type segment is expected to register a robust CAGR throughout the forecast period.
Based on end users, the hospitals segment is expected to represent the highest revenue growth, recording a value of over US$ 500 Mn by the end of 2017. However, the ASCs end users segment is expected to register the highest CAGR through 2022
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