Orthopedic Braces & Supports Market by Product (Knee Braces, Foot & Ankle Braces, Spinal Orthoses, Upper Extremity Braces), by End User (Orthopedic Clinics, Over the Counter, Hospitals and Others), by Geography - Global Forecast to 2020
Orthopedic braces and supports are devices that are used to support and strengthen muscles and joints. These are used in prophylaxis of injury and patient care settings, right from the emergency room through the hospitalization period to rehabilitation and after care.
The global orthopedic braces & supports market is expected to reach $4.3 billion by 2020, at a CAGR of 5.0% from 2015 to 2020. The rising awareness levels of orthopedic braces among people and increasing cases of road accidents and sports injuries are the major factors influencing the growth of the market.
Orthopedic braces and supports are designed to protect, support, and correct injuries; these are predominantly used in injury rehabilitation, injury prevention, osteoarthritic care, and post-operative care, among others. Based on the condition for which these are used orthopedic braces & supports are segmented in four types, namely, knee braces and supports, foot and ankle braces & supports, spinal orthoses, and upper extremity braces and supports. The knee braces & supports segment accounted for the largest share of 42.5% of the market in 2014 and was valued at 1.4 billion in the same year.
The global orthopedic braces & supports market has been categorized into major geographical regions, including Europe, North America, Asia, and rest of the world.
In 2014, Asia-Pacific (APAC) contributed a share of 14.1% to the global orthopedic braces & support systems market, which can be attributed to the low cost of production in the region. The major markets in this region include China, Japan, Korea, Malaysia, and India. Japan is the largest market for orthopedic braces and support products, and contributed more than 70.0% to the Asian orthopedics braces & supports systems market in 2014. Majority of the products are imported from the U.S. and European countries, including Germany, U.K., Italy, Switzerland, and France. Only the Japanese and South Korean markets are mature in terms of advanced orthopedic braces treatments.
The report includes company profiles of major players, recent activities in the market, new product launches, mergers & acquisitions, collaborations and partnerships, and SWOT analysis. Some of the companies profiled in this report include Bauerfeind AG (Germany) Breg, Inc. (U.S.) DeRoyal Industries, Inc. (U.S.), DJO, LLC (U.S.), Ossur (Iceland), Ottobock (Germany), and BSN Medical (Germany).
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis, namely, industry analysis (industry trends and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles. All of these together comprise and discuss the basic views on the competitive landscape, usage patterns, emerging- and high-growth segments, high-growth regions and countries and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities of the global orthopedic braces & supports market.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market share. Firms purchasing the report could use any one or a combination of the below mentioned five strategies to strengthen their market share.
The report provides insights on the following pointers:
Product Analysis and Development: Detailed insights on upcoming technologies, research and development activities, and new product launches in the global orthopedic braces & supports market are provided
Market Development: Comprehensive information about lucrative emerging markets has been provided. The report also analyzes the market for orthopedic braces & supports systems across various regions, exploit new distribution channels, new clientele base, and different pricing policies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments decisions in the global orthopedic braces & supports market has been provided. Detailed description regarding the related and unrelated diversification pertaining to this market has been also provided
Competitive Assessment: An in-depth assessment of market shares and company share analysis of the key players forecast till 2020 has been provided. Develop business strategies and manufacturing capabilities of leading players enhance the bottom line of the companies in the orthopedic braces & supports systems market