India Orthopedic Braces & Support, Casting & Splints Market, by Type (Orthopedic Braces & Supports (Upper Extremity Braces and Support and Low Extremity Braces and Support), Casting Supplies & Equipment, and Splinting Supplies & Equipment), by Distribution Channel (Orthopedic Clinics, Hospitals, OTC, and E-commerce), and by Region (North India, South India, Central India, East India, and West India), is estimated to be valued at US$ 73.5 million in 2020 and is expected to exhibit a CAGR of 6.8% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
The increasing geriatric population is more prone to orthopedic diseases due to organ deformities & aging. Hence, rising geriatric population with more risk to orthopedic disorders is expected to fuel the India orthopedic braces & support, casting & splints market growth during the forecast period. For instance, according to Ministry of Health and Family Welfare (MoHFW), Government of India data, around 45% of women over the age of 65 years in India have symptoms of osteoarthritis in 2018 while 70% of those over 65 years show radiological evidence of osteoarthritis.
Orthopedic braces & supports are medical devices prescribed by a doctor in case of injuries and illnesses of the body’s support system or ligaments, and locomotor system which also promotes healing. It helps people to increase their mobility. Braces & supports stabilize, immobilize, and relieve the body or affected limbs, or provide physiologically correct guidance for body movement. Malposition and incorrect weight bearing can thereby be prevented, counteracted or corrected. In case of permanent impairments, they can maintain functions of body movement and prevent or reduce pain. There are various type of materials used to make braces such as metal, plastic, and fiber glass.
India Orthopedic Braces & Support, Casting & Splints Market– Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has affected various industries globally. Supply of key raw materials for producing medical devices have been severely disrupted due to the forced quarantine, and lack of labor and raw materials. As the link between regional warehouses is not smooth, the transportation of raw materials between regions cannot be carried out successfully. This shortage of raw materials and components have affected the supply chain of the India Orthopedic Braces & Support, Casting & Splints market. Quarantine, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending until the end of the 2020. Moreover, due to the increasing prevalence of COVID-19, key players operating in the Orthopedic Braces & Support, Casting & Splints market are focusing on research and development of novel products to support and combat the effect of COVID-19.
Browse 30 Market Data Tables and 28 Figures spread through 182 Pages and in-depth TOC on “Orthopedic Braces & Support, Casting & Splints Market”- India Forecast to 2027, by Type (Orthopedic Braces & Supports (Upper Extremity Braces and Support and Low Extremity Braces and Support), Casting Supplies & Equipment, and Splinting Supplies & Equipment), by Distribution Channel (Orthopedic Clinics, Hospitals, OTC, and E-commerce), and by Region (North India, South India, Central India, East India, and West India),
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Furthermore, growing number of road accidents & sports injuries are also fueling growth of the India orthopedic braces & support, casting & splints market. For instance, according to data provided by the Ministry of Road Transport and Highways, India, total number of road accidents in India has increased to 464,910 in the year 2017 from 351,999 in 1995 across the country.
Key Takeaways of the India Orthopedic Braces & Support, Casting & Splints Market:
- The India orthopedic braces & support, casting & splints market is expected to exhibit a CAGR of 6.8% during the forecast period, owing to rising aging population with orthopedic diseases, and growing demand for advanced medical devices used for orthopedic applications due to increasing lifestyle diseases such as diabetes, arthritis, etc.. For instance, according to the study by SRL Diagnostics in India for a period of over 3 years, in 2017, it is estimated that arthritis affects over 180 million people in India.
- Among type, orthopedic braces & supports segment is estimated to hold dominant position in the India orthopedic braces & support, casting & splints market in 2020, owing to increasing demand for these devices due to technological advancements, distribution tie ups of multinationals with local players, and several advantages it offers in orthopedic diseases. For instance, in November 2016, Hyderabad-based Sandor Orthopedics Private Ltd. secured exclusive marketing rights of U.S.-based DJO Global’s Donjoy and Aircast range of orthopedic products, which included ankle & knee braces in India and SARRC countries.
- Among distribution channel, orthopedic clinics segment held dominant position in 2019 in the India orthopedic braces & support, casting & splints market. Awareness campaigns for orthopedic problems by clinics, increasing consultation of patient towards specialized clinics for orthopedic disease, and rising surgical procedures are some of the major factors responsible for the growth of this segment. For instance, Max Superspecialty Ortho Clinic, Hyderabad organized free ortho camps every month’s 1st Sunday at Hyderabad center
- Among regions, North India is estimated to hold largest market share in the India orthopedic braces & support, casting & splints market in 2020, owing to increasing number of road accidents, larger patient population with orthopedic problems, improving healthcare expenditure, and early adoption of technologically advanced products in major cities such as Delhi. For instance, according to data provided by the Ministry of Road Transport and Highways, India, total 30 road accidents per 1 lac population were reported in Rajasthan only in 2017.
- Key players operating in the India orthopedic braces & support, casting & splints market include 3M, BSN medical, Zimmer Biomet Holdings, Inc., DJO, LLC, Össur Corporate, Stryker Corporation, Ottobock Holding GmbH & Co. KG, medi GmbH & Co. KG, Remington Products Company, Becker Orthopedic, Prime Medical Inc.,Tynor Orthotics Pvt Ltd., United Medicare, and Orthosys.
