Global Orthopedic Braces & Support, Casting & Splints Market Is Estimated To Witness High Growth Owing To Rise In Orthopedic Disorders And Musculoskeletal Injuries
The Global Orthopedic Braces & Support, Casting & Splints Market is estimated to be valued at USD 7.50 Bn in 2024, exhibiting a CAGR of 6.7%, over the forecast period (2024-2031). Furthermore, increasing incidences of orthopedic disorders and musculoskeletal injuries are expected to drive the market growth.
Market Dynamics:
The market is projected to witness significant growth due to increasing incidences of bone-related fractures and sports injuries. Rising number of road accidents globally that lead to severe orthopedic trauma injuries is further fueling the demand for orthopedic braces and casting & splints. In December 2023, according to WHO, around 1.35 million people die in road accidents annually worldwide. Sprains and strains also account for a significant percentage of musculoskeletal injuries, requiring immobilization and support using these devices. Additionally, shifting patient preference towards minimally invasive surgeries and quicker recovery are driving the adoption of advanced orthopedic bracing as well as casting & splinting devices. However, high cost associated with orthopedic braces may restrain the market growth.
Increasing Prevalence of Musculoskeletal Disorders
The prevalence of musculoskeletal disorders, such as sprains, strains, fractures, and dislocations, is increasing worldwide owing to sedentary lifestyles and an aging population. Orthopedic braces, supports, casts, and splints play a crucial role in immobilizing injured body parts and facilitating recovery. They provide immobilization, stabilization, and alignment to injured joints and bones. As musculoskeletal disorders continue to rise, the demand for orthopedic supports is also expected to grow significantly over the forecast period.
Growth of Sports and Outdoor Recreational Activities
With greater health awareness and emphasis on physical fitness, participation in sports, and outdoor recreational activities has grown manifold globally in recent years. However, these activities also increased the risks of injuries like ligament tears, bone fractures, and joint dislocations. As athletic patients are more health-conscious, they also prefer lightweight, high-performance braces, and supports to speed up recovery and get back to their active lifestyles quickly. This growing demand from athletic patients is likely to propel the orthopedic supports market.
High Cost of Advanced Orthopedic Products
Advanced orthopedic supports, casts, and splints that use new materials like carbon fiber, lightweight metals, and 3D-printed designs come with a higher price tag compared to traditional products. While they offer various advantages like precise fit, increased comfort, and faster recovery, their high cost puts them out of reach of price-sensitive customers. This especially restrains the orthopedic supports market in cost-sensitive developing regions.
Limited Clinical Evidence for some New Products
While innovative new products make bold claims about features like pain relief, accelerated healing and increased post-injury mobility, limited published clinical research is available to validate some of these claims. This lack of documented efficacy positions orthopedic professionals in a dilemma. It hinders wider adoption and insurance coverage of newer but less established designs and materials. More clinical data on performance outcomes is required to address this restraint.
Rising Demand in Developing Countries
Developing economies in Asia Pacific and Latin America are expected to be high growth areas for orthopedic supports as they experience an increasing incidence of injuries due to industrialization and road accidents. Furthermore, greater privatization of healthcare services in these regions provides scope for market penetration. With enhanced access to healthcare, the demand for affordable orthopedic aids will rise steadily in developing countries.
Growing Application of 3D Printing
Additive manufacturing technologies like 3D printing are being increasingly used in the fabrication of customized orthopedic braces using patient-specific scans. 3D printed supports have precise fit and contoured designs for optimal comfort. They reduce production waste and delays compared to traditional methods. The ability to locally produce customized parts presents an opportunity to address previously unmet needs and expand access to orthopedic care globally.
Link - https://www.coherentmarketinsights.com/market-insight/orthopedic-braces-and-support-market-417
Key Developments:
- In August 2024, Aspen Medical, a leading provider of spinal solutions for pain and mobility management, introduced the Align Orthosis. This is the first prefabricated TLSO (Thoraco-Lumbo-Sacral Orthosis) designed to prevent post-surgical Proximal Junctional Kyphosis (PJK). The Align Orthosis offers a non-invasive approach to Proximal Junctional Kyphosis PJK prevention, providing a multifactorial strategy for post-operative care, enhancing spine stability, and promoting recovery.
- In May 2024, McDavid, a prominent name in sports medicine and protective gear, launched the NRG Knee Brace line featuring innovative spring hinge joint assist technology. This advanced technology reduces knee stress by up to 25% and is 60% lighter than traditional hinges, thanks to the use of high-strength polymer for enhanced durability.
- In January 2024, Enovis Corporation, a medical technology company, unveiled the DonJoy ROAM OA knee brace through its subsidiary, DJO, LLC. Specifically designed for individuals with osteoarthritis or knee pain, this innovative unloader brace alleviates pressure on the affected knee, reduces pain, improves stability, and enhances mobility. Ideal for conservative care, pre-surgery preparation, or postoperative protection, the ROAM OA brace supports patients in maintaining or increasing their activity levels.
Key Players:
3M Company, DJO Global, Inc., Stryker Corporation, Zimmer Biomet, Breg, Inc., DeRoyal Industries, Inc., Ossur Hf, Bauerfeind AG, Medi GmbH & Co. KG, Ottobock SE & Co. KGaA, Smith & Nephew, Trulife, Orfit Industries N.V., Prime Medical, Inc., and Bird & Cronin, LLC
