The North America Orthopedic Braces & Supports Market would witness market growth of 4.8% CAGR during the forecast period (2022-2028).
Braces and supports are orthopedic devices that are worn on the outside of the body to hold, align, correct, and support various areas of the body while they heal from an injury. They're made with unique materials and clever designs to provide intense targeted support for the knee, spine, foot, ankle, upper elbow, shoulder, hip, and other body areas. Braces and supports can help to protect joints after surgeries and give patients with musculoskeletal difficulties a sensation of movement.
Top orthopedic brace and support manufacturers are increasingly focusing on producing braces in orthopedics that are compatible with smart technologies. Step smart braces, smart AFO braces, and smart spine braces are just a few of the new orthopedic goods incorporating smart technology. To acquire a competitive advantage over other market participants, companies in this business are focusing on product innovation and development. Companies are developing smart braces with characteristics that allow the skin to breathe and avoid the development of undesirable odors in order to gain traction in the worldwide market.
Due to the rise in musculoskeletal disorders and the increasing incidence of sports-related injuries in the region, North America has the highest demand for orthopedic braces and supports. The National Center for Injury Prevention and Control of the Centers for Disease Control and Prevention (CDC) estimates that 22,887,137 patients in the United States would visit an emergency room for non-fatal injuries in 2020.
Another factor contributing to the growth of the orthopedic braces and supports market is the expanding geriatric population. According to the world population aging report, the number of people over 65 in the United States and Canada is expected to rise from around 60 million in 2019 to around 80 million by 2030, and the 65-and-older age group's share of the total population could rise from 16.4 percent in 2019 to 20.5 percent by 2030. Since this demographic is more vulnerable to joint pain, pain, arthritis, and other non-fatal pain and injuries, this regional market is predicted to increase in the coming years.
The US market dominated the North America Orthopedic Braces & Supports Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,267.3 million by 2028. The Canada market is estimated to grow at a CAGR of 7.2% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 6.3% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Orthopedic Braces & Supports Market is Estimated to reach $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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