Global Orthopedic Braces & Supports Market Report 2022: Industry Expected to Reach $5.1 Billion by 2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Orthopedic Braces & Supports Market Size, Share & Industry Trends Analysis Report By Type (Soft & Elastic, Hard, and Hinged), By End User, By Distribution Channel, By Application, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Global Orthopedic Braces & Supports Market size is expected to reach $5.1 billion by 2028, rising at a market growth of 6.3% CAGR during the forecast period.

Market Growth Factors

Rising Incidence of Orthopedic Diseases & Disorders

• With the increased incidence of obesity and accompanying lifestyle problems, the frequency of orthopedic diseases and disorders is predicted to rise even more in the coming years, as obese people are at a higher risk of orthopedic and musculoskeletal injuries, as well as diabetes.
• Orthopedic braces and supports provide various advantages over traditional goods, including lower cost, improved efficacy, more patient comfort, and ease of use.

Rising Number of Injuries

• The rising number of leg and knee injuries has resulted in a jump in sales of knee braces and supports. These injuries have risen due to the active participation of people in sports and other adventurous activities.
• Knee braces and supports are used to treat ailments such as sprained medial knee ligaments, anterior cruciate ligament (ACL) rupture, and posterior cruciate ligament (PCL) rupture after surgery.

Market Restraining Factors

Adoption of Pain Medications and Lack of Effectiveness

• To effectively manage pain associated with musculoskeletal illnesses such as tendinitis, carpal tunnel syndrome, and osteoarthritis, topical, oral, and parenteral pain medicines are extensively used.
• Despite the fact that orthopedic braces are used as part of a noninvasive approach to pain management during compression therapy, the acceptance of pain medication for such applications is high due to a lack of awareness about the benefits of orthopedic braces.

Recent Strategies Deployed in Orthopedic Braces & Supports Market

Partnerships, Collaborations and Agreements

• Dec-2021: DJO Global announced a partnership with PeekMed, a company that specializes in developing software. The partnership aimed at leveraging the strengths of DJO and its leading surgical business and PeekMed to create captivating value for the orthopedic market and consumers of both companies. In addition, the companies aimed to develop latest technological solutions for orthopedics with DJO.
• Nov-2021: Breg came into an agreement with Aspen Medical Products, a dominant company involved in the design, development and marketing of upper and lower spinal orthopedics. The agreement was a five-year supplier agreement between the two companies to continue selling its innovating spinal portfolio.
• Jul-2021: Zimmer Biomet Holdings entered into a partnership with OSSIS, a company that specializes in complex hip replacements like second-time hip replacements and replacements involving bone tumors and trauma. The partnership with Zimmer Biomet helped OSSIS enhance its capacity to support surgeons and patients alike and create a network across the Asia Pacific region of cutting-edge technology and expert capability.

Product Launches and Product Expansions

• Sep-2021: & Ouml;ssur released the REBOUND ACL brace, a brace created to dynamically decrease strain on a patient's ACL. The brace was developed to help patients recovering from anterior cruciate ligament (ACL) injury. It offers clinically tested comfort that has been verified through clinical testing with load mapping data gathered during daily tasks.
• Aug-2021: Zimmer Biomet Holdings along with Canary Medical released Persona IQ, a knee cap. Persona IQ is the world's first smart knee cap approved by the FDA for total knee replacement surgery.

Acquisitions and Mergers

• Dec-2021: Essity completed the acquisition of AquaCast Liner, a company based in the US offering waterproof cast liners. This acquisition aimed to help Essity strengthen its dominant market position in fracture management and allowed it to expand its offering in water-resistant and waterproof cast management. a Vance Street Capital Portfolio Company. The acquisition helped Zimmer Biomet deliver an exhaustive suite of sternal clos
• Dec-2020: Zimmer Biomet Holdings acquired A&E Medical Corporation,ure products, including rigid fixation, which has the potential to shift the standard of care and meet numerous unmet patient and surgical needs.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

Chapter 3. Competition Analysis - Global

Chapter 4. Global Orthopedic Braces & Supports Market by Type

Chapter 5. Global Orthopedic Braces & Supports Market by Product

Chapter 6. Global Orthopedic Braces & Supports Market by Distribution Channel

Chapter 7. Global Orthopedic Braces & Supports Market by Application

Chapter 8. Global Orthopedic Braces & Supports Market by Region

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