LONDON--(BUSINESS WIRE)--The global orthopedic braces and supports market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global orthopedic braces and supports market size is the increasing cases of arthritis. Arthritis causes painful inflammation and stiffness in joints, leading to their immobility. The pain and immobility associated with arthritis can affect any joint in the body and can prevent patients from performing their daily routines. The rising prevalence of arthritis increases the demand for orthopedic braces and supports that can be used to ease physical movements and relieve the symptoms of arthritis. The incidences of arthritis will fuel the orthopedic braces and supports market expansion during the forecast period.
As per Technavio, the emergence of 3D printing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global orthopedic braces and supports market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global orthopedic braces and supports market: Emergence of 3D printing
3D printing is gaining significant popularity in the global orthopedic braces and supports market. 3D printers that use materials such as metals and plastics to create customized, fully functional objects are being used for rapid prototyping of orthopedic braces and supports. These printers allow vendors in the market to provide customized solutions that can provide improved support to patients. The emergence of 3D printing will be one of the key orthopedic braces and supports market trends during the forecast period.
“Factors such as the increase in the development of new products, and rising number of strategic alliances will have a significant impact on the orthopedic braces and supports market worth during the forecast period,” says a senior analyst at Technavio.
Global orthopedic braces and supports market: Segmentation analysis
This market research report segments the global orthopedic braces and supports market by application (knee, upper extremity, neck and spine, foot and ankle, and exoskeleton), and geographic regions (APAC, North America, Europe, MEA, and South America).
The North American region led the orthopedic braces and supports market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the orthopedic braces and supports market in North America can be attributed to factors such as the rising prevalence of arthritis, and the increasing healthcare facilities in developed countries such as the US.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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