Orthopedic braces and supports are medical systems designed to address issues related to musculoskeletal. These are used to protect, support, stabilize, and correct the position of certain body parts. These are predominantly used during the rehabilitation and recovery process. There are two types of braces, namely, upper and lower limb, depending upon its application. Upper limb braces are used for the recovery of injuries related to collarbones, elbows, wrists, fingers, shoulders, and arms; while the lower limb braces are fitted over the ankles, feet, legs, and knees. These devices allow recovering mobility and function of the injured body part.
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Rise in number of joint disorders such as rheumatoid arthritis and osteoarthritis, and increasing geriatric population, growing number of lifestyle related disorders that leads to joint disorders, and development of technologically advanced orthopedic braces & support systems will drive the global orthopedic braces and supports market. Moreover, growing awareness about advanced orthopedic braces & support systems coupled with rise in need for improving standard of living and quality of life will further stimulate the market growth. However, availability of alternative treatment options and non-availability of customization options for over the counter (OTC) orthopedic braces and systems will restrain the market growth. Conversely, rise in orthopedic outsourcing, growing popularity of minimal invasive surgeries, and development of user-friendly products are the current industry trends which will further drive the market growth.
The global population is aging rapidly. Almost every country is experiencing growth in the number and proportion of older people in their population. As per the data revealed by United Nations Department of Economic and Social Affairs, the global share of older people increased from 9.2% in 1990 to 11.7% in 2013 and will reach 21.1% by 2050. Further, it states that the number of older people is projected to reach 2 billion in 2050 from 841 million people in 2013. Such high prevalence of elderly people will further stimulate the demand for orthopedic braces and support systems.
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Elderly people are more prone to joint disorders such as arthritis. Arthritis is one of the most common joint disorders in persons aged 65 years and above. According to a study conducted by Arthritis Foundation, currently more than 50 million adult Americans have arthritis and this number is expected to increase to 67 million by 2030 whereas around 300,000 children have arthritis or some other form of rheumatic diseases. The risk of arthritis is more prevalent in women than men. Thus, the rapidly aging population will accelerate the demand for orthopedic braces & supports in near future. Such high target population will bring in ample growth opportunities for the key players to develop technologically advanced products.
In addition to this, the rising number of surgical procedures conducted for the treatment of these joint disorders is set to propel the market growth. As per the Centers for Disease Control and Prevention (CDC) estimates, in the U.S., almost 65,000 shoulder replacement surgeries were performed in 2012. Moreover, the National Institute of Health states that there has been an increase of 393% in the number of surgeries performed related to total shoulder arthroplasty from 2001 to 2010. Thus, these large numbers of procedures will be in need of orthopedic braces and support systems after the surgery for the recovery.
Moreover, increased focus of key players on the development of innovative orthopedic braces and support systems to meet the unmet medical needs will further propel the market growth. For instance, in March 2016, BSN Medical exhibited a new line of Actimove orthopedic braces for osteoarthritis of the thumb, at the American Academy of Orthopaedic Surgeons (AAOS) 2016 Annual Meeting. This product development helped the company to strengthen its product portfolio to sustain its position in the market.
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Major players operating in this market are Bauerfeind AG, McDavid Knee Guard, Inc., DeRoyal Industries, Inc., Allcare Company Ltd., Breg, Inc., Otto Bock Healthcare GmbH, Össur Corporate, Frank Stubbs Co., Inc. FLA Orthopedics, Inc. and DJO Global, Inc.
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