Evaluating the Orthopedic Braces And Support Devices And Equipment Market’s Growth Prospects from 2024 to 2033
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What is the Expected Growth Rate of the Orthopedic Braces And Support Devices And Equipment Market from 2024 to 2033?
The orthopedic braces and support devices and equipment market is expected to grow from $4.08 billion in 2023 to $4.31 billion in 2024, at a CAGR of 5.6%. This growth is fueled by an aging population, orthopedic injuries, rehabilitation needs, and the rise of lifestyle and fitness trends.
The orthopedic braces and support devices market is forecasted to reach $5.17 billion by 2028, with a CAGR of 4.7%. Growth is driven by emerging markets, regulatory support, personalized medicine, and value-based healthcare. Trends include smart braces, 3D printing, lightweight materials, and tele-rehabilitation.
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What Key Factors Are Fueling the Growth of the Orthopedic Braces And Support Devices And Equipment Market?
The aging population is contributing to the growth of the orthopedic braces and support devices market. Elderly individuals are more prone to bone and tissue injuries due to the weakening of connective tissues with age. For instance, in the U.S., 70% of individuals aged 50-70 years suffer from osteoarthritis, and this number is expected to increase, driving further demand for orthopedic support devices.
What Are the Major Segments of the Orthopedic Braces And Support Devices And Equipment Market?
1) By Type: Lower extremity braces, Upper extremity braces, Back and hip braces, Other braces
2) By Product: Soft & Elastic Braces and Supports, Hinged Braces and Supports, Hard & Rigid Braces and Supports
3) By End User: Hospitals, Home Healthcare, Clinics, Other End-Users
What New Trends Are Transforming the Orthopedic Braces And Support Devices And Equipment Market?
In response to the rising demand for orthopedic braces and support devices, companies are incorporating technologies like bionic energy-saving systems. For example, LevitationTM’s spring-loaded knee brace helps store energy to enhance leg mobility, contributing to better patient mobility and overall market growth.
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Which Regions Are Driving Growth in the Orthopedic Braces And Support Devices And Equipment Market?
North America was the largest region in global orthopedic devices and equipment market in 2023. Western Europe was the second-largest region in global orthopedic devices and equipment market. The regions covered in the orthopedic braces and support devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Orthopedic Braces And Support Devices And Equipment Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the orthopedic braces and support devices and equipment market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Orthopedic Braces And Support Devices And Equipment Market Include
1. Orthopedic Braces And Support Devices And Equipment Market Executive Summary
2. Orthopedic Braces And Support Devices And Equipment Market Segments
3. Orthopedic Braces And Support Devices And Equipment Market Size And Template Market Growth Rate
4. Key Orthopedic Braces And Support Devices And Equipment Market Trends
5. Major Orthopedic Braces And Support Devices And Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Orthopedic Braces And Support Devices And Equipment Market
26. Top Orthopedic Braces And Support Devices And Equipment Companies
27. Orthopedic Braces And Support Devices And Equipment Market Opportunities And Strategies
28. Orthopedic Braces And Support Devices And Equipment Market, Conclusions And Recommendations
29. Appendix
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