Orthopedic Braces And Supports Market Size

Orthopedic Braces and Supports Market Analysis

The Orthopedic Braces And Supports Market size is estimated at USD 4.59 billion in 2024, and is expected to reach USD 5.74 billion by 2029, growing at a CAGR of 4.40% during the forecast period (2024-2029).

COVID-19 significantly impacted the growth of the orthopedic braces and supports market. The lockdown measures and restrictions imposed by the government to avoid the spread of coronavirus reduced the number of sport-related injuries as all the sports events were postponed. For instance, an article published in February 2022 observed a 34.6% decrease in sports-related emergency department visits in 2020. In addition, as per the same source, most sports-related ED visits were of patients below 22 years (55.7%). However, as per the data published by the NSC Injury Facts, in July 2021, the prevalence of sports and recreational injuries increased by 20% in 2021. Thus, the increasing number of sport-related injuries among the population is expected to increase the market growth over the forecast period.

Factors such as the growing number of road accidents and support injuries, rising bone fracture cases, and musculoskeletal disorders are expected to boost the market growth over the forecast period.

The rising burden of sports-related and road injuries is contributing to a rise in the number of orthopedic procedures, increasing the demand for braces and supports, thereby propelling the market growth. For instance, according to the StatBel statistics published in June 2022, there were 34,640 road traffic accidents in 2021, bringing the total of casualties to 42,566, including 38,952 slightly injured and 3,098 seriously injured in Belgium. Also, as per an article published in Translational Pediatrics in February 2022, it was observed that about 8.6 million athletes are suffering from sports-related injuries each year in the United States.

The growing prevalence of musculoskeletal disorders and the rising geriatric population increase the need for orthopedic surgeries. For instance, as per an article published in the Journal of Orthopaedic Science in September 2021, about 4052 knee arthroplasties are expected to be performed on men between the ages of 40 and 64 years, 6942 on men between the ages of 65 and 74 years, 14,986 on men over 75 years in Japan by 2030. In addition, as per the same source, about 7092 knee arthroplasties are expected to be performed on women between the ages of 40 and 64 years, 22,957 on women between the ages of 65 and 74 years, and 58,340 on women over 75 years in Japan by 2030. Thus, the expected increase in hip and knee surgeries among the population increases the demand for braces and supports that assist patients in walking, propelling the market growth.

Furthermore, the rising product launches increase the availability of technologically advanced orthopedic braces and support products, contributing to market growth. For instance, in April 2021, Roam Robotics launched a smart knee brace, Ascend. It includes embedded sensors that can detect things like moving up and down stairs and standing up from a seated position. Ascend is designed to help relieve knee pain and support functional improvements, dramatically improving patient mobility.

Therefore, the studied market is expected to grow over the forecast period due to the factors above, such as a high number of road and sports injuries, increasing orthopedic surgeries, and rising product launches. However, the negligence towards minor injuries and lack of awareness regarding new orthopedic braces and supports among the population will likely hinder the growth of the orthopedic braces and supports market over the forecast period.