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How Fast Is The Orthopedic Braces And Support Devices And Equipment Market Expected to Grow Between 2025 And 2029?
The market size of orthopedic braces and support devices and equipment has seen a steady rise in the past few years. It’s projected to expand from $4.01 billion in 2024 to $4.2 billion in 2025, with a compound annual growth rate (CAGR) of 4.9%. Factors such as an aging population, orthopedic injuries, the need for rehabilitation and physical therapy, as well as lifestyle and fitness trends, have contributed to its growth during the historic period.
What Growth Rate Is Anticipated for the Orthopedic Braces And Support Devices And Equipment Market in the Coming Years?
The market for orthopedic braces, support devices, and equipment is anticipated to exhibit consistent growth over the coming years. By 2029, the market value is projected to reach $5.05 billion, growing at a compound annual growth rate (CAGR) of 4.7%. Factors contributing to this growth include the expansion of emerging markets, regulatory backing and reimbursement, value-driven healthcare, and personalized medicine. Key trends expected during this forecast period encompass smart orthopedic braces, 3D printing technology, lightweight and breathable materials, as well as tele-rehabilitation and remote monitoring.
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Who Are the Leading Companies in the Orthopedic Braces And Support Devices And Equipment Market?
Major companies operating in the orthopedic braces and support devices and equipment market include DJO Global, Bauerfeind AG, Otto Bock Healthcare GmbH, Breg Inc., Ossur Hf, DeRoyal Industries Inc., BSN medical GmbH, Medi GmbH & Co. KG, THUASNE Group, 3M Company, Lohmann & Rauscher International, Alcare Company Ltd., McDavid Knee Guard Inc., FLA Orthopedics Inc., Frank Stubbs Co. Inc., Zimmer Biomet Holdings Inc., Ortec B.V., Tynor Orthotics, DUK-IN, Prime Medical Inc., Adhenor, Aspen Medical Products, Rcai, Truelife, Shanghai Huici Medical Technology Co. Ltd., Dynamic Techno Medicals Pvt. Ltd., Hely & Weber Orthopedics, Mueller Sports Medicine Inc., Procare Software LLC, Scheck & Siress Prosthetics Inc., Townsend Design
What Are the Key Drivers of the Orthopedic Braces And Support Devices And Equipment Market?
The growth of the orthopedic braces and support devices and equipment market is fueled by the increasing number of older individuals. As people age, their bones and connective tissues deteriorate, making them more susceptible to injuries. For instance, in the U.S., 70% of those aged between 50-70 years are dealing with osteoarthritis, a figure that is expected to rise in the future. This is one of the primary reasons for the expansion of this market.
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What Are the Key Market Segments in the Orthopedic Braces And Support Devices And Equipment Industry?
The orthopedic braces and support devices and equipment market covered in this report is segmented –
1) By Type: Lower extremity braces, Upper extremity braces, Back and hip braces, Other braces
2) By Product: Soft And Elastic Braces and Supports, Hinged Braces and Supports, Hard And Rigid Braces and Supports
3) By End User: Hospitals, Home Healthcare, Clinics, Other End-Users
Subsegments:
1) By Lower Extremity Braces: Knee Braces, Ankle Braces, Foot Braces, Thigh Braces
2) By Upper Extremity Braces: Elbow Braces, Wrist Braces, Shoulder Braces, Hand Braces
3) By Back And Hip Braces: Lumbar Braces, Sacral Braces, Pelvic Braces, Hip Braces
4) By Other Braces: Neck Braces, Spinal Braces, Rib Braces
What Are the Latest Trends in the Orthopedic Braces And Support Devices And Equipment Market?
Leading businesses in the orthopedic braces and support devices and equipment market are concentrating their efforts on creating advanced solutions such as brace systems based on unloader technology. These systems are designed to offer effective pain management and improved mobility for osteoarthritis patients without requiring surgery. Unloader technology-based brace systems in the orthopedic brace and support devices field are designed to reduce pain and enhance mobility by taking pressure off injured or arthritic joints. This redistribution of forces promotes healing and boosts functional performance. For example, the DonJoy Roam OA knee brace was launched by Enovis Corporation, a medical technology firm based in the US, in January 2024. The product features ‘Mag-align’ magnetic clips for optimal strap placement, Set-and-Forget technology for straightforward application, and the BOA Fit System for customizable support. These upgrades improve patient comfort and self-confidence while providing effective load distribution and stabilization, thus enabling patients to maintain or enhance their activity levels.
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What Are the Key Regional Markets in the Orthopedic Braces And Support Devices And Equipment Industry?
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.
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This Report Delivers Insight On:
1. How big is the orthopedic braces and support devices and equipment market, and how is it changing globally?
2. Who are the major companies in the orthopedic braces and support devices and equipment market, and how are they performing?
3. What are the key opportunities and risks in the orthopedic braces and support devices and equipment market right now?
4. Which products or customer segments are growing the most in the orthopedic braces and support devices and equipment market?
5. What factors are helping or slowing down the growth of the orthopedic braces and support devices and equipment market?
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