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(Health-NewsWire.Net, March 24, 2020 ) Growth in the orthopedic braces and supports market is primarily driven by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability and market availability, rising number of sports and accident-related injuries, and growing public awareness related to preventive care.
Ligament injury is the largest application segment of the orthopedic braces and supports market
Orthopedic bracing and support products are used for the clinical management of ligament injuries such as anterior cruciate ligament, posterior cruciate ligament, medial collateral ligament, lateral collateral ligament, and coronary ligament injuries. The large share of the ligament injury segment can be attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries
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Hospitals & surgical centers accounted for the largest share of the orthopedic braces and supports market, by distribution channel, in 2018
In hospitals & surgical centers, orthopedic bracing and support products are used for the clinical management of orthopedic conditions (such as osteoarthritis, osteoporosis, and fractures), preventive care, post-operative patient rehabilitation, osteoarthritis management, and maxillofacial procedures. The growth of the hospitals & surgical centers segment can be attributed to the growing number of orthopedic surgical procedures that require post-operative patient rehabilitation and the favorable reimbursement for customized braces and supports (coupled with the growing availability of insurance coverage for the surgical treatment of orthopedic disorders such as ligament injury, bone deformity, scoliosis, and osteoporosis) across major countries.
Recent Developments
In December 2018, DJO Finance LLC established its new global headquarters in Dallas, US, to develop and market DonJoy Products, which includes braces and supports.
In November 2018, DJO Finance LLC launched EMPOWR Porous Knee System and EMPOWR Complex Primary Knee System. This helped the company to improve its position in the orthopedic braces and supports market.
In March 2018, DJO Finance LLC launched X4 Smart Brace with Motion Intelligence.
In March 2017, DJO Finance LLC launched TriFit Knee Brace (a DonJoy Product).
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Key Market Players:
Breg, Inc. (US), DJO Finance LLC (US), Bauerfeind AG (Germany), DeRoyal Industries, Inc. (US) and Össur Hf (Iceland) are the top five players in the global orthopedic braces and supports market. Other prominent players operating in this market include Oppo Medical, Inc. (US), Zimmer Biomet Holdings, Inc. (US), Ottobock Holding GmbH & Co. KG (Germany), Bird & Cronin, Inc. (US), Reh4Mat (Poland), 3M Company (US), medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Becker Orthopedic (US), and United Ortho (US).
DJO Finance LLC (US) is one of the major players operating in this market. The company offers a broad range of orthopedic braces and supports that are used in various areas, such as ligament injuries, preventive care, and post-operative rehabilitation. The company has distribution networks in Australia, Canada, South Africa, and Tunisia and distributes its braces and supports in more than 36 countries. DJO mainly focuses on the development of technologically innovative products to strengthen its position in the market. The company focuses on market expansions to further strengthen its position in the market. For instance, in December 2018, the company established its new global headquarters in Dallas, US, to develop and market DonJoy products.
North America is the largest regional market for orthopedic braces and supports
North America is one of the major revenue-generating regions in the orthopedic braces and supports industry. The favorable reimbursement & insurance coverage for major orthopedic bracing procedures and supportive government regulations for product commercialization are the major factors driving the growth of the orthopedic braces and supports market in North America.
MarketsandMarkets™
Mr. Sanjay Gupta
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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