Orthopedic Braces And Supports Market Is Expected To Reach $ 7.01 Billion By 2030

 San Francisco, 22 April 2024: The Report Orthopedic Braces And Supports Market Size, Share & Trends Analysis Report By Product (Braces & Supports Type, Pain Management Products), By End-use (Orthopedic Clinics, OTC), By Region, And Segment Forecasts, 2024 - 2030

The global orthopedic braces and supports market size is expected to reach USD 7.01 billion by 2030 and is expected to expand at a CAGR of 7.0% over the forecast period, according to a new report by Grand View Research, Inc. Key factors propelling the market growth include the growing incidence of injury & trauma, the prevalence of chronic diseases such as rheumatoid and osteoarthritis and increasing technological advancements. For instance, in March 2023, Aspen Medical Products, a mobility and pain management solutions provider, partnered with NICE Recovery Systems (NICE) to launch integrated bracing and cold compression solutions for pain management and post-operative care to patients recovering from surgery or injury.

Osteoporosis is a leading cause of musculoskeletal and joint disorders among the older population, increasing the demand for orthopedic braces. Older individuals are prone to experiencing various musculoskeletal ailments, making them a key demographic driving the market demand for orthopedic braces and supports. For instance, according to the International Osteoporosis Foundation, annually, osteoporosis causes over 8.9 million fractures across the globe, resulting in an osteoporosis fracture every 3 seconds. Similarly, according to the same source, osteoporosis affects approximately 6.3% of men over the age of 50 and 21.2% of women over the age of 50 globally.

As people age, significant changes occur in their neuromuscular and skeletal systems, making them more susceptible to weak arthritis, anterior cruciate ligament (ACL) injuries, and ligament tears. The older population is projected to grow significantly during the forecast period, further driving the demand for orthopedic braces and supports.

The growing prevalence of sport-related injuries is another significant factor contributing to pain, disability, or restricted movement, thereby driving the demand for orthopedic braces and supports. For instance, in Europe, sports injuries account for around 6.2 million people annually. Furthermore, in the U.S., it is projected that 30 million children and adolescents participate in youth sports; among them, 2 million individuals account for sports injuries.

Access Research Report of Orthopedic Braces And Supports Market @ https://www.grandviewresearch.com/industry-analysis/orthopedic-braces-support-systems-market

Orthopedic Braces And Supports Market Report Highlights

• By product, the braces & supports segment held the largest market share of 74.9% in 2023 and is also expected to witness the fastest growth during the forecast period, owing to the increasing number of osteoarthritis cases, which boosts the demand for products such as braces and support devices
• By end-use, the orthopedic clinic segment held the largest share in terms of revenue in 2023. The segment's dominance is attributed to the growing preference for orthopedic consultations for fast and rapid checkups
• North America dominated the overall market with a revenue share of 33.7% in 2023, owing to the increasing expenditure on healthcare and rising disposable income

Orthopedic Braces And Supports Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 4.67 billion
Revenue forecast in 2030	USD 7.01 billion
Growth rate	CAGR of 7.0% from 2024 to 2030
Historic Data	2018 - 2023
Forecast period	2024 - 2030

List of Key Players in Orthopedic Braces And Supports Market

• BREG, Inc.
• Frank Stubbs Company Inc.
• DeRoyal Industries, Inc.
• Össur
• Fillauer LLC
• Ottobock
• McDavid
• Bauerfeind
• Weber Orthopedic LP
• DJO, LLC (Enovis)

Access Press Release of Orthopedic Braces And Supports Market @  https://www.grandviewresearch.com/press-release/global-orthopedic-braces-support-systems-market