The
report "Orthopedic
Braces & Supports Market by Product (Knee Braces, Foot
& Ankle Braces, Spinal Orthoses, Upper Extremity Braces), by End User
(Orthopedic Clinics, Over the Counter, Hospitals and Others), by Geography -
Global Forecast to 2020", the global orthopedic braces and
support systems market was valued at USD 3.2 Billion in 2014, and is estimated
to reach USD 4.3 Billion by 2020, at a CAGR of 5.0% from 2015 to 2020.
Browse 54 market
data Tables and 39 Figures spread through 114 Pages and in-depth TOC on "Orthopedic Braces & Supports
Market “
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The global orthopedic braces & support market was valued at
USD 3.2 Billion in 2014 and is expected to reach USD 4.3 Billion by 2020, at a
CAGR of 5.0% from 2015 to 2020.
Orthopedic braces and supports are devices that are used to
support and strengthen muscles and joints. These are used in prophylaxis of
injury and patient care settings, right from the emergency room through the
hospitalization period to rehabilitation and after care. Ligament injuries are
one of the most common injuries in any sport; thus, braces and support systems
are used to treat knee & ankle sprains, torn knee ligaments, and so on.
Based on the condition
for which these braces & supports are used, orthopedic braces &
supports are segmented in four types, namely, knee braces and supports, foot
and ankle braces & supports, spinal orthoses, and upper extremity braces
and supports. The knee braces & supports segment accounted for the largest
share of 42.5% of the market in 2014 and was valued at 1.4 billion in the same
year
Based on end users,
the global orthopedic braces & supports system market has been segmented
into orthopedic clinics, over-the-counter (OTC), hospitals, and other end
users. Among all end-users, the sale of orthopedic braces & supports over
the counter is expected to increase in the coming years. According to federal
government of the U.S., the cost for undergoing orthopaedic surgeries has been
growing in the recent years, and is expected to grow by 60% by 2020.
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Globally, the increasing aging population has become a major
driver for the growth of the orthopaedic industry. According to National
Institute of Health (NIH), in 2010 approximately 524 million people across the
globe were registered to be within the age group of 65 years or above,
representing 8.0% of the global population. By 2050, this number is expected to
rise threefold and reach 1.5 billion, representing 16.0% of the global
population. Thus, the incidence rate of various diseases, especially the
disorders and diseases related to bones, is expected to increase. The
prevalence of other comorbidities associated with aging population, such as osteoarthritis,
diabetes, obesity, and osteoporosis also contribute to the increase in the
patient pool for the global orthopedic braces & support systems, thereby
driving the growth of the market.
Some of the major players in the orthopedic braces &
supports market globally include Bauerfeind AG (Germany) Breg, Inc. (U.S.)
DeRoyal Industries, Inc. (U.S.), DJO, LLC (U.S.), Ossur (Iceland), Ottobock
(Germany), and BSN Medical (Germany), among others
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