USD 7399.5 million
Global Orthopedic Braces and Support Casting and Splints Market Size, Share, Growth Analysis, By Product(Orthopedic Braces, Support Casting), By Material(Metal-based Braces, Fabric-based Braces), By Application(Fracture Management, Ligament Injury Support) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2597 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
93 |
Figures:
76
Global Orthopedic Braces and Support Casting and Splints Market Insights
Global Orthopedic Braces and Support Casting and Splints Market size was valued at USD 7399.5 million in 2022 and is poised to grow from USD 7803.70 million in 2023 to USD 11324.25 million by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).
In recent years, the global orthopedic braces and support casting and splints market has been changing consumer preferences due to the increasing incidences of orthopedic conditions, coupled with a growing aging population, contributing to the rising demand for these medical devices. Advancements in technology and materials used in orthopedic braces enhance their efficacy and patient comfort. Additionally, a surge in sports-related injuries and a proactive approach to physical well-being contribute to market expansion.
Geographically, North America and Europe hold significant market shares, attributed to well-established healthcare infrastructure. However, Asia-Pacific exhibits substantial growth potential due to an increasing focus on healthcare and rising orthopedic disorders. Key market trends include a shift towards personalized and innovative designs in orthopedic devices, emphasizing patient-specific solutions and improved therapeutic outcomes.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Orthopedic Braces
Fastest Growth
Support Casting
Growth Rate
6.5% CAGR
Global Orthopedic Braces and Support Casting and Splints Market ($ Bn)
Country Share for North America Region (%)
Global Orthopedic Braces and Support Casting and Splints Market By product type ($ Bn)
Global Orthopedic Braces and Support Casting and Splints Market By product type (%)
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Global Orthopedic Braces and Support Casting and Splints Market Segmental Analysis
The global orthopedic braces and support casting and splints market is segmented into four major segments i.e. by product type, material type, application, and region. Based on type, it is divided into orthopedic braces, support casting, splints, and others. Based on material type, it is bifurcated as metal-based braces, fabric-based braces, thermoplastic-based splints, and others. Based on application it is segregated into, fracture management, ligament injury support, osteoarthritis aid, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa, and others.
Analysis by Type
Orthopedic braces have typically held a substantial market due to the sharebroad application range, from fracture management to ligament injury support and osteoarthritis aid. Their versatility and adaptability make them a staple in orthopedic care. Moreover, with an increasing aging population globally, there is a rising prevalence of orthopedic conditions, leading to higher demand for braces to support and manage various musculoskeletal issues.
Due to their trend towards personalized orthopedic braces aligns with the growing emphasis on patient-specific treatments, Personalized Orthopedic Braces have gained popularity. Technological innovations, including 3D printing and digital imaging, enable the creation of personalized orthopedic braces. This convergence of technology with healthcare is expected to fuel the rapid growth of this niche segment.
Analysis by Material
Thermoplastic-based Splints have long dominated the global Orthopedic Braces and Support Casting and Splints market as it offers a lightweight alternative with excellent moldability, making them highly suitable for the production of splints. It can be easily customized to conform to specific anatomical shapes, providing effective support for various orthopedic conditions.
The innovative fabric-based braces market’s fastest-growing segment right now because fabric-based braces, incorporating advanced materials such as breathable and moisture-wicking fabrics, offer enhanced comfort, making them increasingly popular among patients. The integration of fashion-forward designs and the use of aesthetically pleasing materials in fabric-based braces may attract a wider consumer base, leading to rapid growth in this segment.
Global Orthopedic Braces and Support Casting and Splints Market By Application, 2023 (%)
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Global Orthopedic Braces and Support Casting and Splints Market Regional Insights
North America has historically dominated the orthopedic braces and support casting and splints market due to well-established and advanced healthcare infrastructure, supporting a robust market for orthopedic braces and support devices. The region's aging population contributes to a higher incidence of orthopedic conditions, leading to increased demand for orthopedic braces.
Asia-Pacific is the fastest growing segment, due to the increasing healthcare expenditure in countries like China, India, and Southeast Asian nations supports the growth of the orthopedic braces market. The sheer size of the population in Asia-Pacific, coupled with a growing awareness of orthopedic care, contributes to a rapidly expanding market.
Global Orthopedic Braces and Support Casting and Splints Market By Region, 2024-2031
- Largest
- Fastest
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Global Orthopedic Braces and Support Casting and Splints Market Dynamics
Drivers
Increasing Aging Global Population and Surge in Sports-related Injuries
- The aging global population has led to an increased incidence of orthopedic conditions, generating a rising demand for orthopedic braces and support devices. Additionally, the surge in sports-related injuries and a growing awareness of proactive orthopedic care further stimulate market expansion. Technological advancements play a pivotal role, with continuous innovations in materials and design improving the efficacy, comfort, and customization of orthopedic devices.
Restraints
Stringent Regulatory Compliance Requirements and High Cost Associated
- One of the main market restraints is that the stringent regulatory compliance requirements pose a significant hurdle for manufacturers, demanding adherence to rigorous standards in the production of orthopedic devices. Additionally, the high cost associated with certain advanced materials and technologies can limit market accessibility, particularly for patients in lower-income brackets.
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Global Orthopedic Braces and Support Casting and Splints Market Competitive Landscape
The competitive environment of the orthopedic braces and support casting and splints market is dynamic and characterized by the presence of key players striving for market dominance through strategic initiatives and innovative product offerings. Collaboration and mergers and acquisitions are notable trends, enabling companies to expand their product offerings and geographical reach. With a focus on technological advancements, these market players continuously seek to enhance their orthopedic devices, addressing evolving patient needs and staying at the forefront of the competitive landscape in the global orthopedic braces and support casting and splints market.
Top Player’s Company Profiles
- Spencer Italia S.r.l.
- 3M Company
- Bauerfeind AG
- Stryker Corporation
- Becker Orthopedic
- Breg Inc.
- Ossur Hf
- Medi GmbH & Co. KG
- Orfit Industries N.V.
- Ottobock SE & Co. KGaA
- Prime Medical Inc.
- Trulife
- Alimed
- Envoys
- Datta Mediproducts
- Performance Health
- DUK-IN
Recent Developments
-
OrthoPediatrics Corp. introduced the DF2 Brace in October 2023 as part of a plan to diversify into the non-surgical treatment of pediatric musculoskeletal ailments.
-
Orthopedic implant solutions provider LimaCorporate S.p.A. was successfully acquired by Enovis Corporation in January 2024. Because Lima Corporate expands Enovis' portfolio with a wide variety of orthopedic medical products, including braces, this strategic purchase strengthens Enovis' position in the worldwide orthopedic reconstruction market.
-
OrthoPediatrics Corp. unveiled the DF2 Brace in October 2023, a brace intended to treat pediatric musculoskeletal ailments. This brace is designed specifically for femur fracture repair and is meant for young children between the ages of six months and five.
Global Orthopedic Braces and Support Casting and Splints Key Market Trends
Rising Discernible Shift Towards more Personalized Solutions
- The shift towards more personalized solutions, with a growing emphasis on customized orthopedic braces tailored to individual patient needs. Technological innovations, including 3D printing and advanced materials, are facilitating this trend, contributing to improved comfort and therapeutic outcomes. Moreover, there is an increasing focus on patient convenience, reflected in the development of lightweight and breathable materials for orthopedic braces, enhancing user experience.
Global Orthopedic Braces and Support Casting and Splints Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global orthopedic braces and support casting and splints market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The surge in orthopedic conditions, aging populations, and increased sports-related injuries. However, stringent regulatory compliance and the high cost of advanced materials pose challenges. Braces dominate the market due to their versatility, while personalized and innovative designs are emerging trends. North America holds a significant market share, driven by established healthcare infrastructure, while Asia-Pacific exhibits substantial growth potential. Technological advancements in materials and the integration of smart technologies are key market trends, enhancing patient comfort and treatment outcomes.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 7399.5 million |
| Market size value in 2031 | USD 11324.25 million |
| Growth Rate | 6.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Orthopedic Braces and Support Casting and Splints Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Orthopedic Braces and Support Casting and Splints Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Orthopedic Braces and Support Casting and Splints Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Orthopedic Braces and Support Casting and Splints Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Orthopedic Braces and Support Casting and Splints Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Orthopedic Braces and Support Casting and Splints Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Orthopedic Braces and Support Casting and Splints Market Report Snapshots
- Global Orthopedic Braces and Support Casting and Splints Companies
- Global Orthopedic Braces and Support Casting and Splints Market Size
- Global Orthopedic Braces and Support Casting and Splints Market Analysis
- Global Orthopedic Braces and Support Casting and Splints Geographic Analysis
- Global Orthopedic Braces and Support Casting and Splints Market News
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