What is the Global market size of Orthopedic Braces and Support Casting and Splints Market?

Global Orthopedic Braces and Support Casting and Splints Market size was valued at USD 6995.3 million in 2021 and is poised to grow from USD 7399.5 million in 2022 to USD 12246.14 million by 2030, growing at a CAGR of 6.5% in the forecast period (2023-2030).

Orthopedic Braces and Support Casting and Splints Market Size, Share, Growth Analysis, By Product(Orthopedic Braces, Support Casting, Splints, and others), By Material(Metal-based Braces, Fabric-based Braces, Thermoplastic-based Splints, and others), By Application(Fracture Management, Ligament Injury Support, Osteoarthritis Aid, and Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2597 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 93 | Figures: 76

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.

Orthopedic Braces and Support Casting and Splints Market Report Snapshots

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FAQs

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).

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 orthopedic braces and support casting and splints market. 'Spencer Italia S.r.l.', '3M Company', 'Bauerfeind AG', 'Stryker Corporation', 'Bird & Cronin LLC', 'Becker Orthopedic', 'DJO LLC', 'Breg Inc.', 'DeRoyal Industries 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'

The aging 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.

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.

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.

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Orthopedic Braces and Support Casting and Splints Market Dynamics

Orthopedic Braces and Support Casting and Splints Market Report Snapshots

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What is the market size of Orthopedic Braces and Support Casting and Splints Market?

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Which region accounted for the largest share in Orthopedic Braces and Support Casting and Splints Market?

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