LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global orthopedic bracing and support systems market is expected to reach USD 4.330 billion by 2021, growing at a CAGR of more than 4%.
This research report titled ‘Global Orthopedic Bracing and Support Systems Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global orthopedic bracing and support systems market is growing at a steady pace, and most of the growth is originating from emerging markets in Asia-Pacific (APAC), South and Central America, and MEA. However, the market’s growth is slightly inhibited due to the high cost of orthopedic bracing and support systems. As a result, the market will see an elevated number of consolidation between small and large vendors; smaller vendors are more focused on innovation while larger vendors are venturing into new development areas and acquiring smaller companies.
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Technavio’s healthcare and life science research analysts categorize the global orthopedic bracing and support system market into the following segments by product. They are:
- Upper extremity bracing and support systems
- Lower extremity bracing and support systems
- Spinal bracing and support systems
Upper extremity bracing and support systems
According to Barath Palada, a lead orthopedics and medical devices research analyst from Technavio, “The elderly population are prone to fractures and age-related conditions, such as osteoporosis and arthritis and accidental trauma, which is increasing the sales of braces and support systems for the upper extremity. The rising number of accidental cases also increases the adoption of these products in the market.”
In developed countries like the UK and the US, the governments are encouraging research institutes and small companies by providing funding for development of novel products. Products that hold the potential to increase cost effectiveness, ease lives of patients, and provide better orthopedic stability are currently being focused on by the governments. The funding can lead to the development of new advanced technology, which can act as a driving factor in the market.
Lower extremity bracing and support systems
Lower extremity bracing and support systems are used to support the hip, knee, and ankles. The advanced technology provided by governments will increase the adoption of lower extremity bracings in the market. The KEA technology is one of the advanced technologies in the market, which allows free joint movement and smoothens the extension movement by allowing it to perform sit-to-stand and stand-to-sit. The efficacy of this technology has been clinically proven, which will increase its adoption during the forecast period.
Spinal bracing and support systems
Fractures in the spine can be treated by using spinal braces as these braces are rigid in nature, limiting the motion of the spine. This brace is commonly used after spinal fusion surgeries. Researchers are focusing on developing spinal braces that modulate the corrective forces on the spine for the patients suffering from scoliosis. At the time of physical rehabilitation, bracing and support systems are used so that it can improve scoliosis during bone growth.
“A combined study conducted by the Orthopaedic Rehabilitation Services, Germany, and Scoliosis 3DC, US, found that around 90% of the scoliosis cases are adolescent idiopathic scoliosis, and the remaining are due to congenital, neuromuscular, and mesenchymal disorders,” says Barath.
The top vendors highlighted by Technavio’s research analysts in this report are:
- DeRoyal Industries
- DJO Global
- Zimmer Biomet
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