Northbrook, IL 60062 -- (SBWIRE) -- 09/22/2022 -- The global orthopedic braces and supports market is estimated to reach USD 4.6 billion by 2027 from USD 3.4 billion in 2022, at a CAGR of 5.8% during the forecast period (2022-2027).

Increased sales of off-the-shelf and online products coupled with expansion and promotion initiatives undertaken by major product manufacturers;

Specific orthopedic braces can only be used under the supervision of medical practitioners or orthopedic technicians as they require customization or product alteration according to patient features. However, some braces (such as ankle braces, wrist/hand braces, shoulder braces, elbow braces, and facial braces) are increasingly being sold by retailers (off-the-shelf) and e-commerce websites since their use does not require supervision. Patients regularly use such products to prevent injuries.

Major product manufacturers are undertaking strategic initiatives to increase their brand visibility and product awareness among key end users (such as medical professionals, patients, and physiotherapists) across major healthcare markets worldwide.

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By product, the knee braces and supports segment is expected to grow at the highest rate during the forecast period.

Based on product, the orthopedic braces and supports market is segmented into knee braces and supports; ankle braces and supports; back, hip, & spine braces and supports; foot walkers and orthoses; hand & wrist braces and supports; shoulder braces and supports; elbow braces and supports; and facial braces and supports. The knee braces and supports segment is expected to witness the highest growth during the forecast period primarily due to the several benefits offered by these products, such as medial and lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.

By type, the soft & elastic braces and supports segment is expected to grow at the highest rate during the forecast period.

Based on type, the orthopedic braces and supports market is segmented into soft & elastic braces and supports, hard braces and supports, and hinged braces and supports. The soft & elastic braces and supports segment is expected to register the highest growth rate during the forecast period. Growth in this market can primarily be attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative & preventive care, and the supportive reimbursement scenario for target products across mature markets.

By application, the ligament injury segment is expected to hold the largest share of the market in 2022.

Based on the application, the orthopedic braces and supports market is segmented into preventive care, ligament injury, post-operative rehabilitation, osteoarthritis, compression therapy, and other applications. The ligament injury segment is expected to command the largest share of the market in 2022. The large share of this segment can be attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), the rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries.

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Asia Pacific is expected to grow at the highest CAGR in the orthopedic braces and supports market during the forecast period

The Asia Pacific region is expected to be the fastest-growing region during the study period. The demand for orthopedic braces and supports in the APAC is supported by to the rising geriatric and obese population (coupled with the significant prevalence of orthopedic & diabetes-related diseases in this population segment) and increasing healthcare expenditure in APAC countries. Owing to the high-growth potential of the region, leading product manufacturers are undertaking strategic initiatives such as product commercialization to maintain their market position.

Key Market Players
The vendors operating in the orthopedic braces and supports market include DJO Finance LLC (US), Ossur HF (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), and Essity (Sweden) were the top five players in the global orthopedic braces and supports market. Other prominent players operating in this market include 3M (USA), Ottobock Holding GmbH (Germany), Thuasne Group (France), Zimmer Biomet Holdings, Inc. (US), ALCARE (Japan), Bird & Cronin, Inc. (US), Nippon and Sigmax (Japan), and Becker Orthopedic (US), among others.

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