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Global Knee Braces Market 2019-2023

Global Knee Braces Market 2019-2023

About this market

The growing medical tourism and government initiatives in orthopedics are vital factors that will trigger the growth of knee braces market. Medical tourism for orthopedic procedures has dramatically increased over the past few years. This is owing to significant cost savings and rising old population in developed nations who require cost-effective healthcare facilities. The medical tourism for orthopedic surgeries is likely to drive the demand for orthopedic braces. This will bolster the growth of the global knee braces market during the forecast period. Government initiatives on orthopedics help in the accessibility of orthopedic-related devices and treatments. For instance, the Government of India has extended the price cap, which was imposed on orthopedic knee implants until August 2019. This move was taken for relieving several arthritis patients of India. Also, the government has reduced prices of knee implants by about 64%. Initiatives like these are propelling the growth of the market in focus. Technavio’s analysts have predicted that the knee braces market will register a CAGR of 4% by 2023.

Market Overview

Growing incidence of road accidents

Road safety has become a significant concern as the number of road accidents is increasing, globally. Road traffic injuries have become a priority in public health. The knee cartilage and ligaments are the most commonly damaged in road accidents. Knee injuries can take months or years to heal. A few knee injuries leave victims with lifelong complications that prevent them from engaging in physical activities such as sports or even walking without pain. Therefore, the rising road accidents are increasing the demand for knee braces to cope with knee injuries. This will contribute to the growth of the global knee braces market.

High cost of knee braces

The cost of a knee brace is usually covered under health insurance if a doctor prescribes it. However, for patients who are not covered by any insurance, the typical cost of a standard knee brace, made up of fabric or elastic, to provide light to moderate support during sports, in the US is about $30 on an average. The cost of a knee brace to recover from injuries or surgery is about $165, on an average, or more. It can increase to about $700-$900 or more depending on the type of material of the brace. Also, patients suffering from knee injuries also must bear additional costs on crutches in some cases. The high costs of knee braces can adversely affect their demand. This may hurt the growth of the global knee braces market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the knee braces market during 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately fragmented. The presence of several companies, including 3M Co. and DeRoyal Industries Inc. makes the competitive environment quite intense. Factors such as the growing incidence of road accidents and the rising medical tourism and government initiatives in orthopedics will provide considerable growth opportunities to the knee braces manufacturers. medi GmbH & Co. KG, Mueller Sports Medicine Inc., Orthofix Holdings Inc., and REH4MAT Sławomir Wroński. are some of the major companies covered in this report.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Knee Braces Market 2019-2023

Technavio recognizes the following companies as the key players in the global knee braces market: 3M Co., DeRoyal Industries Inc., medi GmbH & Co. KG, Mueller Sports Medicine Inc., Orthofix Holdings Inc., and REH4MAT Sławomir Wroński.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increase in the use of knee braces by athletes.”

According to the report, one of the major drivers in this market is the high incidence of meniscus injuries.

Further, the report states that one of the major factors hindering the growth of this market is the availability of alternatives.

Companies Mentioned

3M Co.

DeRoyal Industries Inc.

medi GmbH & Co. KG

Mueller Sports Medicine Inc.

Orthofix Holdings Inc.

REH4MAT Sławomir Wroński

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global medical devices market
      • Table Segments of global medical devices market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by type
    • Table Type - Market share 2018-2023 (%)
    • Comparison by type
      • Table Comparison by type
    • Functional knee braces - Market size and forecast 2018-2023
      • Table Functional knee braces - Market size and forecast 2018-2023 ($ millions)
      • Table Functional knee braces - Year-over-year growth 2019-2023 (%)
    • Prophylactic knee braces - Market size and forecast 2018- 2023
      • Table Prophylactic knee braces - Market size and forecast 2018-2023 ($ millions)
      • Table Prophylactic knee braces - Year-over-year growth 2019-2023 (%)
    • Unloader knee braces - Market size and forecast 2018-2023
      • Table Unloader knee braces - Market size and forecast 2018-2023 ($ millions)
      • Table Unloader knee braces - Year-over-year growth 2019-2023 (%)
    • Rehabilitative knee braces - Market size and forecast 2018- 2023
      • Table Rehabilitative knee braces - Market size and forecast 2018-2023 ($ millions)
      • Table Rehabilitative knee braces - Year-over-year growth 2019-2023 (%)
    • Market opportunity by type
      • Table Market opportunity by type
  • Market segmentation by end-user
    • Table End-user - Market share 2018-2023 (%)
    • Comparison by end-user
      • Table Comparison by end-user
    • Hospitals - Market size and forecast 2018-2023
      • Table Hospitals - Market size and forecast 2018-2023 ($ millions)
      • Table Hospitals - Year-over-year growth 2019-2023 (%)
    • Orthopedic clinics - Market size and forecast 2018-2023
      • Table Orthopedic clinics - Market size and forecast 2018-2023 ($ millions)
      • Table Orthopedic clinics - Year-over-year growth 2019-2023 (%)
    • Others - Market size and forecast 2018-2023
      • Table Others - Market size and forecast 2018-2023 ($ millions)
      • Table Others - Year-over-year growth 2019-2023 (%)
    • Market opportunity by end-user
      • Table Market opportunity by end-user
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • Asia - Market size and forecast 2018-2023
      • Table Asia - Market size and forecast 2018-2023 ($ millions)
      • Table Asia - Year-over-year growth 2019-2023 (%)
    • ROW - Market size and forecast 2018-2023
      • Table ROW - Market size and forecast 2018-2023 ($ millions)
      • Table ROW - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Increase in use of knee braces by sport players and athletes
    • Prevalence of osteoarthritis leading to knee pain
    • Increase in awareness and adoption of orthopedic braces
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • 3M Co.
      • Table 3M Co. - Vendor overview
      • Table 3M Co. - Business segments
      • Table 3M Co. - Organizational developments
      • Table 3M Co. - Geographic focus
      • Table 3M Co. - Segment focus
      • Table 3M Co. - Key offerings
    • DeRoyal Industries Inc.
      • Table DeRoyal Industries Inc. - Vendor overview
      • Table DeRoyal Industries Inc. - Organizational developments
      • Table DeRoyal Industries Inc. - Key offerings
    • medi GmbH & Co. KG
      • Table medi GmbH & Co. KG - Vendor overview
      • Table medi GmbH & Co. KG - Key offerings
    • Mueller Sports Medicine Inc.
      • Table Mueller Sports Medicine Inc. - Vendor overview
      • Table Mueller Sports Medicine Inc. - Organizational developments
      • Table Mueller Sports Medicine Inc. - Key offerings
    • Orthofix Holdings Inc.
      • Table Orthofix Holdings Inc. - Vendor overview
      • Table Orthofix Holdings Inc. - Business segments
      • Table Orthofix Holdings Inc. - Organizational developments
      • Table Orthofix Holdings Inc. - Geographic focus
      • Table Orthofix Holdings Inc. - Segment focus
      • Table Orthofix Holdings Inc. - Key offerings
    • REH4MAT S³awomir Wroñski
      • Table REH4MAT S³awomir Wroñski - Vendor overview
      • Table REH4MAT S³awomir Wroñski - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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