Driving Factors
Growth in the orthopedic braces and supports market is primarily 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 related to preventive care.
The orthopedic braces and supports market is projected to reach USD 5.5 billion by 2024 from USD 4.1 billion in 2019, at a CAGR of 5.7% during the forecast period
Recent Developments
In December 2018, DJO Finance LLC established its new global headquarters in Dallas, US, to develop and market DonJoy Products, which includes braces and supports.
In November 2018, DJO Finance LLC launched EMPOWR Porous Knee System and EMPOWR Complex Primary Knee System. This helped the company to improve its position in the orthopedic braces and supports market.
In March 2018, DJO Finance LLC launched X4 Smart Brace with Motion Intelligence.
In March 2017, DJO Finance LLC launched TriFit Knee Brace (a DonJoy Product).
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Key Market Players
Breg, Inc. (US), DJO Finance LLC (US), Bauerfeind AG (Germany), DeRoyal Industries, Inc. (US) and Össur Hf (Iceland) are the top five players in the global orthopedic braces and supports market. Other prominent players operating in this market include Oppo Medical, Inc. (US), Zimmer Biomet Holdings, Inc. (US), Ottobock Holding GmbH & Co. KG (Germany), Bird & Cronin, Inc. (US), Reh4Mat (Poland), 3M Company (US), medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Becker Orthopedic (US), and United Ortho (US).
By product, the knee braces and supports segment is expected to grow at the highest CAGR during the forecast period
By type, the soft and elastic braces and supports segment accounted for the largest share of the orthopedic braces and supports market in 2018
Ligament injury is the largest application segment of the orthopedic braces and supports market
Hospitals & surgical centers accounted for the largest share of the orthopedic braces and supports market, by distribution channel, in 2018
North America is the largest regional market for orthopedic braces and supports