USD 7399.5 million
Report ID:
SQMIG35A2597 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
93
|Figures:
76
Orthopedic Braces and Support Casting and Splints Market size was valued at USD 7803.7 Million in 2023 and is poised to grow from USD 8310.94 Million in 2024 to USD 12060.33 Million by 2032, growing at a CAGR of 6.5% during the forecast period (2025-2032).
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.
Global Market Size
USD 7399.5 million
Largest Segment
Orthopedic Braces
Fastest Growth
Support Casting
Growth Rate
6.5% CAGR
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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.
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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.
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Drivers
Increasing Aging Global Population and Surge in Sports-related Injuries
Restraints
Stringent Regulatory Compliance Requirements and High Cost Associated
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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
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.
Rising Discernible Shift Towards more Personalized Solutions
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 7803.7 Million |
Market size value in 2032 | USD 12060.33 Million |
Growth Rate | 6.5% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Million |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the 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 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 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 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.
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Report ID: SQMIG35A2597
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