Press Release Description
Global Orthopedics Braces and Supports Market to Record a Substantial CAGR of Around 5.2% During 2024-30
The Global Orthopedics Braces and Supports Market is projected to grow at a CAGR of 5.2% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Technological advancements, a surge in sports and accident-related injuries, a growing elderly population, and heightened public awareness of preventive care are pivotal factors driving growth in the Global Orthopedic Braces and Supports Market. These dynamics stimulate innovation in product development, aiming to enhance patient outcomes. Furthermore, the prevalence of chronic and acute conditions, such as arthritis and sports injuries fuels the demand for orthopedic braces and supports. Companies like BREG, Inc., have introduced specialized product lines like Pinnacle and Ascend, customized to address spinal injuries, illustrating their commitment to expanding solutions to cater to diverse patient needs.
The rise in sports-related injuries, particularly among fitness enthusiasts engaged in activities like cycling and running, highlights the necessity for orthopedic braces and supports. Additionally, the increasing prevalence of osteoarthritis, affecting individuals across all age groups, drives demand for orthopedic braces and supports. These products play a crucial role in enhancing mobility and addressing joint stiffness among older populations, thereby contributing to market expansion and addressing the evolving needs of patients, further states the research report, “Global Orthopedics Braces and Supports Market Analysis, 2024.”ming up with to stay afloat during the projected time frame?
Global Orthopedics Braces and Supports Market Segmentation Analysis
Hip, Back, and Spine Braces and Supports to Lead the Global Orthopedics Braces and Supports Market Growth
Based on the product, the market is further bifurcated into Knee Braces and Supports, Ankle Braces and Supports, Foot Walkers and Orthoses, Hip, Back, and Spine Braces, Shoulder Braces and Supports, Elbow Braces and Supports, Hand and Wrist Braces and Supports, and Facial Braces and Supports. The Hip, Back, and Spine Braces segment is expected to have substantial growth in the forecast years in the Orthopedic Braces And Supports Market. This surge has been attributed to various factors, including the escalating prevalence of conditions like osteoporosis, the burgeoning elderly population, and heightened industry activities.
North America to Dominate the Global Orthopedics Braces and Supports Market Growth
North America is expected to maintain a substantial market share within the Orthopedic Braces And Supports Market, propelled by factors, such as the escalating prevalence of musculoskeletal disorders, orthopedic fractures, and a growing aging population. Bolstered by a robust healthcare infrastructure and significant healthcare expenditures, the region is primed for market growth. Moreover, the rising incidence of sports-related injuries, notably in the United States, is set to drive demand for braces and supports aimed at alleviating pain and expediting healing processes. The region's commitment to innovation, highlighted by strategic partnerships and investments in orthopedic device research and development, is expected to drive continued market growth in the forthcoming years.
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Essity AB, 3M Company, Thuasne Group, Ossur HF, Zimmer Biomet, Enovis Corporation, OrthoPaediatrics Corporation, Alcare Co. Ltd., Nippon Sigmax Co. Ltd., Medi GmbH & Co. Kg, Trulife Group Ltd., Mueller Sports Medicine Inc., Becker Orthopedic, Frank Stubbs Company Inc., Aspen Medical Products LLC, etc., are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Market Size- By Value, Forecast Numbers, Segmentation, Market Shares)?
- What are the market trends influencing the current scenario of the Global Orthopedics Braces and Supports Market?
- What key factors would propel and impede the industry across the regions?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across the regions?
- How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they co
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