The global orthotic devices orthotic splints and orthopedic braces and support industry is a growing market, with a projected CAGR of 4.8% from 2022 to 2032. This growth is being driven by a number of factors, including the aging population, the increase in the incidence of disabilities, and the growing rate of chronic and lifestyle diseases.
Orthotic devices are used to support, prevent, align, or correct the functioning of movable body parts such as the neck, shoulder, wrist, knee, and ankle. They can be used to treat a wide range of conditions, including sports injuries, arthritis, cerebral palsy, and spinal cord injuries.
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Orthotic devices can be divided into two main categories: splints and braces. Splints are typically used to immobilize a joint or limb, while braces are used to provide support and stability.
Key Takeaways from the “Orthotic Devices Orthotic Splints and Orthopedic Braces and Support Market by 2022 to 2032” report:
- The global orthotic devices, orthotic splints, and orthopedic braces and support market is expected to grow at a CAGR of 4.8% from 2022 to 2032, reaching a value of US$ 10.3 billion by 2030.
- North America is the largest market for orthotic devices, orthotic splints, and orthopedic braces and support, accounting for over 40% of the global market share in 2022.
- The soft & elastic braces and supports segment is expected to account for the largest revenue share in 2022, owing to the increasing demand for these products for preventive care and post-operative support.
- The knee braces and supports segment is expected to grow at the highest CAGR during the forecast period, due to the increasing prevalence of knee injuries and osteoarthritis.
- The major factors driving the growth of the orthotic devices, orthotic splints, and orthopedic braces and support market include the rising prevalence of chronic diseases such as arthritis, osteoporosis, and diabetes; the increasing geriatric population; and the growing awareness of the benefits of orthotic devices for preventive care and rehabilitation.
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Competitive Analysis:
Market Players:
- DeRoyal Industries,
- Otto Bock Holding GmbH& Co.,
- Bauerfeind AG,
- DJO Inc.
With an extensive SWOT analysis, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of each player. The report also includes important data including the sales strategy, pricing strategy, and marketing strategy adopted by these players in the Orthotic Devices Orthotic Splints and Orthopedic Braces and Support market
Orthotic Devices Orthotic Splints and Orthopedic Braces and Support Market: Segmentation
Key Segments:
By Product:
- Knee
- Ankle
- Hip
- Spine
- Shoulder
- Neck
- Elbow
- Hand
- Wrist
By Category:
- Soft
- Hard
- Hinged
By Application:
- Ligament (ACL, LCL)
- Preventive
- OA
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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