RIGID KNEE BRACES MARKET ANALYSIS

The global rigid knee braces market is estimated to be valued at US$ 991.4 million in 2023 and is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030).

Analysts’ Views on the Global Rigid Knee Braces Market:

The global rigid knee braces market trends, development, and marketing channels are analyzed. The knee braces consumption is mostly driven by patients suffering from osteoarthritis. According to World Health Organization (WHO), over 20% of the world’s population aged over 60 which accounts for around 130 million people will suffer from osteoarthritis by 2050.

Figure 1. Global Rigid Knee Braces Market Share (%), by Type, 2023

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Global Rigid Knee Braces Market - Driver

Technological advancement in Knee braces

Technological advancement in Knee braces is expected to drive market growth in the near future. For instance, on August 22, 2021, OPUM, a medical device and AI company, and Thuasne Group, an orthopedic bracing manufacturer, signed a partnership on a digital solution for the non-invasive non-pharmacological treatment of osteoarthritis (OA). The first product will integrate OPUM’s AI-enabled Digital Knee care platform with Thuasne’s Rebel Reliever OA knee brace.

Figure 2. Global Rigid Knee Braces Market Value (US$ Million), by Region, 2023

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Global Rigid Knee Braces Market - Regional Analysis

The North America region is expected to dominate the global rigid knee braces market due to the increasing number of patients affected with knee osteoarthritis (OA). For instance, on November 29, 2022, an article published in the Radiological Society of North America stated that Osteoarthritis (OA) is a common degenerative disorder with an increasing global prevalence and economic burden, accounting for 4.3% of all hospitalization costs in the U.S. Radiographic progression of knee OA has been shown to correlate with poor clinical outcomes. Currently, corticosteroid (CS) injections and hyaluronic acid (HA) injections are given for symptomatic treatment of osteoarthritis. However, the long-term effect of intraarticular joint injections on OA progression is heavily debated.  Thus there is a high chance of increasing demand for knee braces as a treatment option for knee Osteoarthritis (OA).

Global Rigid Knee Braces Market - Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic spread to over 100 countries across the globe and the World Health Organization (WHO) declared it a public health emergency. According to the World Health Organization report, the manifestation of coronavirus (COVID-19) resulted in more than 768 million confirmed cases and over 6.9 million deaths globally as of June 18, 2023.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation of drugs from one place to another.

Moreover, The pandemic brought on significant changes to the mechanism of injury, number of admissions, type of injuries, and patient outcomes.

The initial months of the COVID-19 pandemic saw the greatest decreases in knee procedures, which have since rebounded with some reaching levels higher than they were before the pandemic. As orthopedic knee procedures return to pre-pandemic levels while COVID-19 persists, it is important to consider how we can safely provide care for patients with orthopedic pathology while caring adequately for those with COVID-19 and other medical problems.

Global Rigid Knee Braces Market Segmentation:

The global rigid knee braces market is segmented into type, application, and end user.

Based on Type, the global rigid knee braces market is segmented into Prophylactic Braces, Functional Braces, Rehabilitative Braces, and Unloader Braces. Out of which, Prophylactic Braces is expected to dominate the market over the forecast period through various applications and technologies.

Based on Application, the global rigid knee braces market is segmented into Arthritis, Tendonitis, Knee Ligament Injury, Athletic Activity, and Others. Out of which, the Knee Ligament Injury segment dominates the market as the increasing demand of knee braces for the treatment of Knee Ligament Injury

Based on End User, the global rigid knee braces market is segmented into Hospitals and Clinics, Orthopedic Centers, and Rehabilitation Centers. Out of which, the Hospitals and Clinics segment dominates the market as knee braces are suggested by hospitals after knee ligament reconstruction surgeries

Global Rigid Knee Braces Market: Key Development

On November 01, 2022, OPUM, a company developing the Digital Knee sensor and clinical data standard, partnered with Corflex Global, an orthopedic bracing manufacturer, to digitize knee assessments in order to improve patient outcomes and satisfaction while streamlining clinic operations.

Global Rigid Knee Braces Market - Cross Sectional Analysis

In application segment, The segment consist of Arthritis, Tendonitis, Knee Ligament Injury, Athletic Activity, Others. Arthritis dominates from the product base segment. For instance, an article published on July 5, 2022, in Medical Journals Sweden stated about the  effects of a semi-rigid knee brace on mobility and pain in people with knee osteoarthritis where the results of this large-scale patient-reported outcome measure (PROM) study show that the use of a semi-rigid knee brace appears to provide suitable joint support, offering pain relief and freedom of movement and should be considered a useful non-surgical treatment method for use in patients with knee osteoarthritis

Global Rigid Knee Braces Market - Key Trends

The key market players are engaged in adopting strategies such as product launches is expected to drive the growth of the market. For instance, on October 28, 2022, Vissco, a medical device manufacturer of Orthopedic, Mobility product portfolio, and services Vissco has developed a product portfolio backed by latest technology, and robust research & development. Vissco has now launched its one-stop online platform for Health & Well-being - Vissco Next.

Global Rigid Knee Braces Market: Restraint

Risk factors due to knee braces

Risk factors due to knee braces may affect market growth over the forecast period. Risks of wearing a knee brace might include discomfort wearing the brace: A knee brace can feel heavy, bulky, and hot at first. A poor fit can cause it to slip. Skin irritation or swelling: The skin under the brace might become red and irritated if the knee brace fits poorly. Some people also have swelling around the joint. Lack of awareness about the benefit of knee braces for people with osteoarthritis has been limited, and results have been mixed. Some people see no benefit.  Stiffness: Wearing a brace can cause the wearer to treat the braced knee as injured and favor the other knee, which could contribute to joint stiffness

Global Rigid Knee Braces Market - Key Players

The key players operating in the global rigid knee braces market include Mueller Sports Medicine, Inc., DJO Global, LLC, ACE Brand, Tynor Orthotics Private Limited, 3M Science, Mava Sports, Bauerfeind AG, Breg, Inc., Ossur, Thuasne USA, Zimmer Biomet, Kao Chen Enterprise Co., Ltd, Össur, Orthosys, Bauerfeind USA Inc., Orliman S.L.U., Steeper Inc., Beagle Orthopedic, Essity Medical Solutions, Bird & Cronin, LLC, Ottobock, Trulife, DeRoyal Industries, Inc., and Remington Medical Equipment.

*Definition: A knee brace is one tool for managing the discomfort of knee osteoarthritis. A brace might help reduce pain by shifting weight off the most damaged portion of the knee. Wearing a brace can improve the ability to get around and help walk farther comfortably. There are various types of braces used for knee arthritis. An unloader brace is a type that shifts weight off the affected portion of the knee.