SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the India Orthopedic Braces & Support, Casting and Splints market is estimated to be valued at US$ 73.5 million in 2020 and is expected to exhibit a CAGR of 6.8% during the forecast period (2020-2027).
Key Trends and Analysis of the India Orthopedic Braces & Support, Casting & Splints Market:
Key trends in the market include growing prevalence of obesity and related lifestyle disorders among the Indian population. This obese individuals are at a higher risk of orthopedic & musculoskeletal injuries as well as diabetes, hence fuelling the growth of the India orthopedic braces &support, casting & splints market. For instance, according to the recent stats stated by Indian Journal of Endocrinology and Metabolism, around 5-8.8% of school children were obese in India in 2019 and with the same rate, it is estimated that around 27 million Indian children will be obese by 2030 in India.
Moreover, increasing number of road accidents & sports injuries are expected to drive growth of the India Orthopedic braces & support, casting & splints market during the forecast period. For instance, according to a study published in Journal of Medical Science and Clinical Research, in South India prevalence of sports injuries among university students was found to be around 48% in 2016.
Furthermore, increasing adoption of 3D printing in manufacturing of finger splints is expected to offer lucrative growth opportunities for players in the global orthopedic braces & support, casting & splints market.
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Key Market Takeaways:
The India orthopedic braces & support, casting & splints market is expected to exhibit a CAGR of 6.8% during the forecast period, owing to growing orthopedic disorders associated with aging population. For instance, as per estimates of the United Nations Population Division projects, adults 60 years and above over will comprise 19% of India’s total population by 2050 that is estimated to include over 324 million individuals.
Among type, orthopedic braces & supports segment is estimated to hold a dominant position in the India orthopedic braces & support, casting & splints market in 2020, owing to several benefits offered by these braces, such as medial and lateral support, limited injury during motion, and protection from the post-surgical risk of injury
Among distribution channel, orthopedic clinics segment accounted for major market share in 2019 in the India orthopedic braces & support, casting & splints market due to increasing number of orthopedic surgical procedures at these clinics and better post-operative patient rehabilitation facilities
North India is estimated to hold largest market share in the India orthopedic braces & support, casting & splints market in 2020, owing to larger patient pool of orthopedic disorders, and availability of advanced infrastructure in the region. For instance, in June 2018, Delhi's Guru Teg Bahadur (GTB) Hospital earned the distinction of being the first government-run hospital in Delhi-NCR to get its own bone bank.
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Competitive Landscape:
Key players operating in the India orthopedic braces & support, casting & splints market include 3M, BSN medical, Zimmer Biomet Holdings, Inc., DJO, LLC, Össur Corporate, Stryker Corporation, Ottobock Holding GmbH & Co. KG, medi GmbH & Co. KG, Remington Products Company, Becker Orthopedic, Prime Medical Inc.,Tynor Orthotics Pvt Ltd., United Medicare, and Orthosys
Market Segmentation:
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India Orthopedic Braces & Support, Casting & Splints Market, By Type:
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Orthopedic Braces & Supports
- Upper Extremity Braces and Support
- Low Extremity Braces and Support
- Casting Supplies & Equipment
- Splinting Supplies & Equipment
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Orthopedic Braces & Supports
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India Orthopedic Braces & Support, Casting & Splints Market, By Distribution Channel:
- Orthopedic Clinics
- Hospitals
- OTC
- E-commerce
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India Orthopedic Braces & Support, Casting & Splints Market, By Region:
- North India
- South India
- Central India
- East India
- West India
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
