Increasing prevalence of arthritis is one of the leading cause of the growth of orthopedic braces and supports market. It is the most common form of arthritis which affects the population of all ages.
According to theCentres for
disease Control and Prevention, in 2015, 30 million US adults were estimated to
suffer from osteoarthritis. It is estimated that 54.4 million of the US adults
are affected with some form of arthritis. People with arthritis are the major
target for orthopedic braces and supports. The second most common form of
arthritis is rheumatoid arthritis which cause muscle pain.
Increase in geriatric population
is one of the primary driver for the growth of the market. This population is
highly affected by musculoskeletal disorders. According to International
Osteoporosis Foundation, osteoporosis and low bone mass is a major threat to
around 44 million U.S. men and women of age 50 and older. Approximately, 30% of
the post-menopausal women suffer from osteoporosis in the US. Weakening
of bones, connecting tissues such as cartilages and ligaments with age
increases the risk of muscle injury in knees and shoulders. This supports the
increasing need of orthopedic braces and supports.
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Sports related injuries are
increasing with the increase in participation of people of different ages in
various sports activities. Athletes are engaged in fitness related activities
such as cycling, running, and others. While performing health benefit related
activities, athletes tend to sustain injuries which may give rise to ligament
injuries. Athletes involved in indoor health activities are at high risk of
ligament tear. This generates the demand for ankle braces. These products help
to restrict the movement of affected part thereby making the healing process
faster. Orthopedic braces help athletes to protect themselves from further
injury. It helps to restrict the movement of the unwanted part during any
activity, thereby facilitating a convenient play.
Product Insights
Knee supports and braces segment
held the largest market share in 2015, due to a large number of people affected
by knee joint and related injuries. Knee braces helps in pressure relief from
the joints that are affected by arthritis.
Foot and ankle braces are
anticipated to show lucrative growth over the forecast period. This is due to
the rising number of participation in sports related activities by people of
all age group. The increasing number of participants in Paralympics also
supports the growth of the market. Upper extremity supports and braces segment
are also expected to grow at a significant rate in near future.
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On the basis of end use, the
market is segmented into hospitals,orthopedic clinics, Over-the-Counter (OTC),
and other facilities.Orthopedic clinics contributed to the largest market share
in 2015, due to reluctance of patients to visit speciality clinics for acute
musculoskeletal disorders.
OTC segment is expected to
witness an attractive growth over the forecast period as the orthopedic braces
and supports are easily available in retail pharmacies. OTC products do not
require any prescription of doctor, so patients with acute muscle problems
prefer OTC products.
Regional Insights
North America held the largest
market share in 2015, due to the rising prevalence of arthritis in the U.S. People
are at a high risk of osteoporosis in the U.S. due to increase in geriatric and
obese population. Increased participation in sports related activities in
conjunction with rise in awareness level among people related to orthopedic
braces and supports is expected to further support market growth.
Asia Pacific is expected to
exhibit fastest growth over the forecast period. This is due to the rise in
geriatric population in the region which in turn increases the demand for
orthopedic braces and supports, thereby accentuating the growth of the market.
Competitive Insights
Few major companies of the market
include DJO Global, Inc.;Breg, Inc.;Alcare Company Ltd.;Bauerfeind AG;Össur
Corporate;McDavid Knee Guard, Inc.; FLA Orthopedics, Inc.; Otto Bock Healthcare
GmbH; and Frank Stubbs Co., Inc.
The key players are focusing on
strategic initiatives such as mergers, acquisitions, new product development,
and regional expansions. For instance, in 2015, Merz North America acquired ON
Light Sciences, Inc., a company specializing in laser-based dermatology with an
aim to expand its esthetic product portfolio. These companies are also
concentrating on the manufacture of customized braces & supports to cater
to the individual needs of the patients.
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