Global Orthopedic Bracing and Support Systems Market 2017-2021
About Orthopedic Bracing and Support Systems
Orthopedic braces and support systems are used to restrict or assist physical movement, reduce weight-bearing forces, assist in recovery from fractures, and reduce pain. The proper selection and design of a suitable orthotic product help in the recovery of the affected joint and associated area of the limb. This, in turn, prevents further degenerative of the joints, muscles, and ligaments. The preference for non-invasive treatment is the major driving force in the market. Considering the operative trauma and the recovery time associated with invasive treatments, consumers tend to put off surgery in the case of injuries or other orthopedic conditions and rely on braces and supports for treatment.
Technavio’s analysts forecast the global orthopedic bracing and support systems market to grow at a CAGR of 4.35% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global orthopedic bracing and support systems market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of various types of products, which are used for treatment purposes.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Orthopedic Bracing and Support Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global orthopedic bracing and support systems market: DeRoyal Industries, DJO Global, Össur, and Zimmer Biomet.
Other Prominent Vendors in the market are: Anatomical Concepts, Aspen Medical Products, Brace Orthopaedic, Breg, BSN medical, Cascade Dafo, FastForm Research, Green Sun Medical, Lethbridge Orthotic, Myomo, NIPPON SIGMAX, New Options Sports, Orthopaedic Appliances, PROTEOR, Promedionics, Redyns Medical, Rehband, Skeletal Support Systems, Spring Loaded Technology, Surgical Appliance Industries, TRULIFE, The Thuasne, and United Ortho.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is growing popularity of minimally invasive procedures. Traditional open surgeries can cause post-operative complications such as pain, partially collapsed lungs, blood clots, fatigue, muscle atrophy, and infections. The anesthesia administered before surgeries can cause nausea, sore throat, confusion, and sleepiness. To reduce such complications, medical facilities have started implementing minimally invasive techniques in their surgical procedures.”
According to the report, one driver in market is cost-effective alternative in developing countries. Braces and supports are more economical than surgeries, and one does not need any special knowledge or skills to use them. For early osteoarthritis treatment in lower and upper extremities, orthopedic braces and support systems are used, which are cheaper compared with hip and knee replacement procedures. For instance, the estimated cost of a knee replacement surgery ranges between $70,000 and $90,000, which includes hospital stay, cost of implant, and other cost factors (medicines, nursing, and consultation fee). But if osteoarthritis is detected early, then braces and support systems can be used, which cost between $5,000 and $18,000 based on the type, thereby curbing the cost. These factors are driving the adoption of braces and support systems in developing countries. Additionally, medical treatments for certain musculoskeletal disorders, such as arthritis, are focused on maintaining joint movements and pain alleviation. Also, limited access to hospitals creates an opportunity for the adoption of braces and supports in rural areas.
Further, the report states that one challenges in market is high cost of orthopedic braces and increased pricing pressure. Physicians prefer customized orthopedic bracing and support systems rather than non-prescription traditional braces owing to better alignment and support. The estimated cost of a customized lower limb brace (ankle or foot) ranges between $750 and $1,200. The cost of a customized knee or a leg brace is higher, which impacts the market adoption. On online stores, the estimated cost of an ankle or foot brace and support system ranges between $300 and $450. Online sites such as FootSmart and OrthoticShop provide non-prescription orthopedic braces. Though these sites provide non-prescription traditional braces at a discounted price, the cost adds up owing to charges on off-the-shelf cushioned insoles and off-the-shelf low-arch insoles. The estimated cost for such insoles ranges between $40 and $80. Additionally, physiotherapy on parts of the body that have experienced trauma increases the cost burden. For each physiotherapy session, an individual needs to pay around $400, which depends on the type of trauma. These add up to the cost and affect the market growth.
DeRoyal Industries, DJO Global, Össur, Zimmer Biomet, Anatomical Concepts, Aspen Medical Products, Brace Orthopaedic, Breg, BSN medical, Cascade Dafo, FastForm Research, Green Sun Medical, Lethbridge Orthotic, Myomo, NIPPON SIGMAX, New Options Sports, Orthopaedic Appliances, PROTEOR, Promedionics, Redyns Medical, Rehband, Skeletal Support Systems, Spring Loaded Technology, Surgical Appliance Industries, TRULIFE, The Thuasne, and United Ortho.
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