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The orthopedic braces and support devices and equipment market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 5%, as per The Business Research Company’s market report!

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The Orthopedic Braces And Support Devices And Equipment Market Size In 2022 And Forecast
The global orthopedic braces and support devices and equipment market grew from $2.78 billion in 2021 to $3.05 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The orthopedic braces and support devices and equipment market is expected to grow to $3.79 billion in 2026 at a CAGR of 5.5%.

The orthopedic braces and support devices and equipment market consist of sales of orthopedic braces and support devices and equipment and related services.

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Rise In The Geriatric Population Is Driving The Growth Of The Orthopedic Braces And Support Devices And Equipment Market
For example, Americans consume 80% of the world’s supply of painkillers including painkillers for orthopedic treatments, thereby, hindering the orthopedic braces and support devices and equipment market.

Competitive Landscape And The Regional Analysis Of The Orthopedic Braces And Support Devices And Equipment Market
Major players in the orthopedic braces and support devices and equipment market are DJO Global, Bauerfeind AG, Otto Bock Healthcare GmbH, Breg, Inc, Ossur Hf, DeRoyal Industries, Inc., BSN Medical, Medi GmbH & Co. KG, THUASNE Group, 3M Company, and Lohmann & Rauscher.

Additionally, as per TBRC’s research – North America was the largest region in the orthopedic braces and support devices and equipment market in 2021 holding the largest market share.

The Orthopedic Braces And Support Devices And Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the orthopedic braces and support devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the orthopedic braces and support devices and equipment market.

Innovative Technologies – A Key Trend In The Orthopedic Braces And Support Devices And Equipment Market
Due to the increase in the demand for orthopedic braces and support devices and equipment, various companies are adapting themselves to use innovative technologies such as bionic energy savers to solve problems related to injuries in the knee, arms, or any other movable part of the body.

Orthopedic Braces And Support Devices And Equipment Market Segmentation By The Business Research Company

1) By Type: Lower extremity braces, Upper extremity braces, Back and hip braces, Other braces

2) By End User: Hospitals, Home Healthcare, Clinics, Other End-Users

3) By Product: Soft & Elastic Braces and Supports, Hinged Braces and Supports, Hard & Rigid Braces and Supports

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