The Asia Pacific Orthopedic Braces & Supports Market would witness market growth of 8.1% CAGR during the forecast period (2022-2028).
Spondylitis, osteoarthritis, degenerative disc disease, and other mobility problems affect the elderly population at a higher rate. As a result, the expanding geriatric population is driving up sales of braces and supports all across the world. Manufacturers are working on pliable braces with a simple user interface, taking into account consumer demands. They're also using Velcro instead of laces to make it easier to put on, and pulley systems in lumbar supports to make it easier to customize.
Musculoskeletal diseases are very common in this population. Bones and connective tissues like ligaments and cartilages naturally deteriorate as people become older. This increases the chance of muscular injury, particularly in the elderly's knees and shoulders. This stiffens the joints even more, necessitating the use of braces and supports to promote movement. As a result, the growing geriatric population is likely to drive market expansion.
Significant developments in modeling and material science have resulted in enhanced flexibility, contouring, and the use of low-weight materials as a result of technological advancements. Advanced data sensors and synchronization systems have also been incorporated as a result of technological advancements.
The rising geriatric and obese population combined with the considerable prevalence of orthopedic and diabetes-related disorders in this age group and increasing healthcare expenditure in APAC countries are driving the demand for orthopedic braces and supports in the region. To preserve their market position, top product makers are adopting strategic activities such as product commercialization, owing to the region's significant growth potential. Due to the existence of superior manufacturing facilities and technology, Japan is also a big contributor to the industry.
Ankle braces and supports, as well as upper spine orthoses, are in high demand in China due to the country's vast senior population. Due to its well-developed healthcare infrastructure, contemporary products, and qualified professionals, China's market is predicted to rise rapidly. In China, sales of orthopedic braces and supports are predicted to increase due to the presence of contemporary production facilities and technology, as well as increased demand for advanced therapies and goods.
The China market dominated the Asia Pacific Orthopedic Braces & Supports Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $419.5 million by 2028. The Japan market is anticipated to grow at a CAGR of 7.4% during (2022 - 2028). Additionally, The India market would display a CAGR of 8.7% during (2022 - 2028).
Based on Type, the market is segmented into Soft & Elastic, Hard, and Hinged. Based on End User, the market is segmented into Knee, Ankle, Foot Walkers & Orthoses, Elbow, Hand & Wrist, Shoulder, Hip, Back, & Spine, and Others. Based on Distribution Channel, the market is segmented into Hospitals & Surgical Centres, Orthopedic Clinics, Pharmacies & Retailers, E-commerce platforms, and Others. Based on Application, the market is segmented into Ligament Injury, Osteoarthritis, Compression Therapy, Preventive Care, Post-operative Rehabilitation, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Orthopedic Braces & Supports Market is Projected to reach USD 5.1 Billion by 2028, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DJO Global (Colfax Corporation), 3M Company, Essity AB, Ossur Hf., Orthofix Medical, Inc. (Breg, Inc.), Zimmer Biomet Holdings, Inc., Ottobock SE & Co. KGaA, Nippon Sigmax Co., Ltd., Bauerfeind AG, and Becker Orthopedic.
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