HOME Top Market Reports Orthopedic Braces & Supports Market by Product (Knee Braces, Foot & Ankle Braces, Spinal Orthoses, Upper Extremity Braces), by End User (Orthopedic Clinics, Over the Counter, Hospitals and Others), by Geography - Global Forecast to 2020

Orthopedic Braces & Supports Market by Product (Knee Braces, Foot & Ankle Braces, Spinal Orthoses, Upper Extremity Braces), by End User (Orthopedic Clinics, Over the Counter, Hospitals and Others), by Geography - Global Forecast to 2020

By: marketsandmarkets.com
Publishing Date: October 2015
Report Code: MD 3845

 

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The global orthopedic braces & support market was valued at USD 3.2 Billion in 2014 and is expected to reach USD 4.3 Billion by 2020, at a CAGR of 5.0% from 2015 to 2020.

Orthopedic braces and supports are devices that are used to support and strengthen muscles and joints. These are used in prophylaxis of injury and patient care settings, right from the emergency room through the hospitalization period to rehabilitation and after care. Ligament injuries are one of the most common injuries in any sport; thus, braces and support systems are used to treat knee & ankle sprains, torn knee ligaments, and so on.

The growing demand for orthopedic support system can be attributed to a number of factors, such as the rising aging population, rising awareness about the orthopedic support systems among the people, and increasing cases of road accidents and sports injuries and co-morbid conditions leading to orthopedic disorders or diseases.

Sports injuries are one of the key drivers for the foot & ankle braces & supports segment of the market. According to recent studies, several sports research academies have observed an increasing number of serious bone injuries among professional as well as amateur sportspersons. The incidence rate of ligament tears and fractures is high and foot & ankle injuries in sports constitute over 20.0% of the total sports injuries. Furthermore, co-morbid conditions, such as diabetes, obesity, and other vascular diseases lead to bone porosity, which poses high risk of bone fractures.

Global reimbursement systems vary considerably in terms of pricing, co-payments, and settlements. The complexities arising out of these differences create complications for third-party payers, such as private insurance companies and social security systems. These companies play a key role between the patient and the healthcare organization/companies selling the braces and supports. Reimbursement in all countries, therefore, depends upon compliance with a complex set of rules and regulations.

Based on end users, the global orthopedic braces market has been segmented into orthopedic clinics, over the counter (OTC), hospitals, and other end users. In 2014, the orthopedic clinics segment accounted for the largest market share, followed by the OTC segment. The large share of the orthopedic clinics segment can be attributed to the fact that patients with painful conditions, such as osteoporosis, osteoarthritis, ankle arthritis, sprains, strains, cartilage tears, and fractures prefer consulting orthopedicians rather than directly visiting hospitals. There is a growing demand from clinicians for braces and supports that are injury- or surgery-specific, especially for knees, ankles, and shoulders. Patients with chronic pain conditions generally visit hospitals to undergo surgeries for osteoarthritis, ankle arthritis, and fractures. Orthopedic braces and supports are prescribed post-surgery as they help in keeping bones in position, allowing limited movement and faster healing. The other end users segment comprises gyms/health clubs, sports academies/outlets, pharmacy outlets, emergency centers, and trauma centers.

The global orthopedic braces and supports market is dominated by the orthopedic clinics segment; it is expected to grow at CAGR of 4.3% from 2015 to 2020. The OTC segment is projected to grow at the highest CAGR of 6.1% from 2015 to 2020.

The global orthopedic braces market has been categorized into major geographical regions, including Europe, North America, Asia, and Rest of the world. North America is the most dominant region in the global orthopedic braces market, and contributed a share of 47.4% in 2014; the market in this region was valued at USD 1.5 billion in the same year.

Some of the major players in the orthopedic braces market include Bauerfeind AG (Germany) Breg, Inc. (U.S.) DeRoyal Industries, Inc. (U.S.), DJO Global (U.S.), Ossur (Iceland), Ottobock (Germany), and BSN Medical (Germany).

These companies have adopted various strategies, such as merger & acquisition and partnership, among others, to achieve growth in the global orthopedic braces market.

Scope of the Report:

This report categorizes the global market for orthopedic braces & supports on the basis of type, end user, and region.

Market Segmentation, By Type:

Based on type, the global orthopedic support market has been segmented into knee braces & supports, foot and ankle braces & supports, spinal orthoses, and upper extremity braces & supports.

Market Segmentation, By End User:

Based on end-user, the market has been segmented into over the counter (OTC), orthopedic clinics, hospitals, and other end-users.

Market Segmentation, By Region:

The regional analysis covers North America, Europe, Asia-Pacific, and RoW.

Customization Options:

Along with market data, customize the MMM assessments to meet your company’s specific needs. Customize to get a comprehensive summary of the industry standards and a detailed analysis of the following parameters: product analysis, brand/product perception matrix, Porters Five Force’s analysis, regulatory framework, and competitive intelligence.

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Report Description
    1.3 Markets Covered
    1.4 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Market Size Estimation
           2.1.1 Demand Side Approach
    2.2 Secondary Data
           2.2.1 Key Data Points Taken From Secondary Sources
    2.3 Primary Data
    2.4 Assumptions

3 Executive Summary (Page No. - 21)

4 Market Overview (Page No. - 23)
    4.1 Introduction
    4.2 Market Dynamics

5 Industry Trends (Page No. - 27)
    5.1 Value Chain Analysis
    5.2 Porter’s Five Forces Analysis
           5.2.1 Threat of New Entrants (High)
           5.2.2 Threat of Substitutes (Low)
           5.2.3 Bargaining Power of Suppliers (Low-Moderate)
           5.2.4 Bargaining Power of Buyers (Moderate-To-High)
           5.2.5 Intensity of Competitive Rivalry (High)

6 Orthopedic Braces & Supports Market, By Product (Page No. - 31)
    6.1   Introduction
    6.2 Knee Braces & Supports
           6.2.1 Knee Support Braces
           6.2.2 Knee Braces for Osteoarthritis
           6.2.3 Functional Knee Braces for Ligament Injuries
           6.2.4 Post-Operational Knee Braces
    6.3 Foot and Ankle Braces & Supports
           6.3.1 Soft Braces
           6.3.2 Hinged Braces
    6.4 Spinal Orthoses
    6.5 Upper Extremity Braces & Supports
           6.5.1 Shoulder Supports
           6.5.2 Wrist & Hand Supports

7 Orthopedic Braces & Supports Market, By End User (Page No. - 48)
    7.1 Introduction
    7.2 Orthopedic Clinics
    7.3 Over the Counter (OTC)
    7.4 Hospitals
    7.5 Other End Users

8 Orthopedic Braces & Supports Market, By Geography (Page No. - 56)
    8.1 Introduction
    8.2 North America
    8.3 Europe
    8.4 Asia-Pacific
    8.5 RoW

9 Competitive Landscape (Page No. - 73)
    9.1 Overview
    9.2  New Product Launches
    9.3 Mergers & Acquisitions
    9.4 Expansions
    9.5 Partnerships

10 Company Profiles (Page No. - 78)
     10.1 Introduction
     10.2 Bauerfeind Ag
             10.2.1 Business Overview
             10.2.2 Product and Service Offerings
             10.2.3 Key Strategy
             10.2.4 Recent Developments
             10.2.5 MnM View
     10.3 Breg, Inc.
             10.3.1 Business Overview
             10.3.2 Product and Service Offerings
             10.3.3 Key Strategy
             10.3.4 Recent Developments
             10.3.5 MnM View
     10.4 BSN Medical
             10.4.1 Business Overview
             10.4.2 Product and Service Offerings
             10.4.3 Key Strategy
             10.4.4 Recent Developments
             10.4.5 SWOT Analysis
             10.4.6 MnM View
     10.5 Deroyal Industries, Inc.
             10.5.1 Business Overview
             10.5.2 Product and Service Offerings
             10.5.3 Key Strategy
             10.5.4 Recent Developments
             10.5.5 SWOT Analysis
     10.6 DJO, LLC
             10.6.1 Business Overview
             10.6.2 Product and Service Offerings
             10.6.3 Key Strategy
             10.6.4 SWOT Analysis
             10.6.5 MnM View
     10.7 Ossur
             10.7.1 Business Overview
             10.7.2 Product and Service Offerings
             10.7.3 Key Strategy
             10.7.4 Recent Developments
             10.7.5 SWOT Analysis
             10.7.6 MnM View
     10.8 Ottobock
             10.8.1 Business Overview
             10.8.2 Product and Service Offerings
             10.8.3 Key Strategy
             10.8.4 Recent Developments
     10.9 OPPO Medical Inc.
             10.9.1 Business Overview
             10.9.2 Product and Service Offerings
     10.10 Alcare Co., Ltd.
             10.10.1 Business Overview
             10.10.2 Product and Service Offerings
     10.11 Ascent Meditech Ltd
             10.11.1 Business Overview
             10.11.2 Product and Service Offerings
     10.12 Truelife
             10.12.1 Business Overview
             10.12.2 Product and Service Offerings

11 Appendix (Page No. - 109)
     11.1 Discussion Guide
     11.2 Introducing RT: Real Time Market Intelligence
     11.3 Available Customizations
     11.4 Related Reports


List of Tables (54 Tables)

Table 1 Global: Aging Population, By Country, 2014
Table 2 Increasing Incidences of Lifestyle Diseases and Growing Demand in the Asia-Pacific Region are Propelling the Growth of the Orthopedic Braces & Supports Market
Table 3 Global Orthopedic Braces & Supports Market, By Product, 2013–2020 (USD Million)
Table 4 Orthopedic Braces & Supports Market, By Geography,  2013–2020 (USD Million)
Table 5 Knee Braces & Supports Market, By Product, 2013–2020 (USD Million)
Table 6 Knee Braces & Supports Market, By Geography, 2013–2020 (USD Million)
Table 7 Knee Support Braces Market, By Geography, 2013–2020 (USD Million)
Table 8 Knee Braces for Osteoarthritis Market, By Geography, 2013–2020 (USD Million)
Table 9 Functional Knee Braces for Ligament Injuries Market, By Geography,  2013–2020 (USD Million)
Table 10 Post-Operational Knee Braces Market, By Geography, 2013–2020 (USD Million)
Table 11 Foot and Ankle Braces & Supports Market, By Product, 2013–2020 (USD Million)
Table 12 Foot and Ankle Braces & Supports Market, By Geography, 2013–2020 (USD Million)
Table 13 Soft Braces Market, By Geography, 2013-2020 (USD Million)
Table 14 Hinged Braces Market, By Geography, 2013-2020 (USD Million)
Table 15 Spinal Orthoses Market, By Geography, 2013-2020 (USD Million)
Table 16 Upper Extremity Braces & Supports Market, By Product, 2013-2020 (USD Million)
Table 17 Upper Extremity Braces & Supports Market, By Geography, 2013-2020 (USD Million)
Table 18 Shoulder Supports Market, By Geography, 2013-2020 (USD Million)
Table 19 Wrist & Hand Supports Market, By Geography, 2013-2020 (USD Million)
Table 20 Orthopedic Braces & Support Market, By End User, 2013-2020 (USD Million)
Table 21 Orthopedic Braces & Support Market, By Geography,  2013-2020 (USD Million)
Table 22 Orthopedic Braces & Support Market in Orthopedic Clinics, By Geography, 2013-2020 (USD Million)
Table 23 Orthopedic Braces & Supports Market in OTC, By Geography, 2013-2020 (USD Million)
Table 24 Orthopedic Braces & Support Market in Hospitals, By Geography,  2013-2020 (USD Million)
Table 25 Orthopedic Braces & Support in Other End Users, By Geography,  2013-2020 (USD Million)
Table 26 North America Orthopedic Braces Market, By Country,  2013-2020 (USD Million)
Table 27 North America Orthopedic Braces Market, By Product,  2013-2020 (USD Million)
Table 28 North America Knee Braces & Supports Market, By Product, 2013-2020 (USD Million)
Table 29 North America Foot and Ankle Braces & Supports Market, By Product,  2013-2020 (USD Million)
Table 30 North America Upper Extremity Braces & Supports Market, By Product,  2013-2020 (USD Million)
Table 31 North America Orthopedic Braces Market, By End User, 2013-2020 (USD Million)
Table 32 Europe Orthopedic Braces & Supports Market, By Country, 2013-2020 (USD Million)
Table 33 Europe Orthopedic Braces Market, By Product, 2013-2020 (USD Million)
Table 34 Europe Knee Braces & Supports Market, By Product, 2013-2020 (USD Million)
Table 35 Europe Foot and Ankle Braces & Supports Market, By Product, 2013-2020 (USD Million)
Table 36 Europe Upper Extremity Braces & Supports Market, By Product,  2013-2020 (USD Million)
Table 37 Europe Orthopedic Braces & Supports Market, By End User,  2013-2020 (USD Million)
Table 38 Asia-Pacific Orthopedic Braces Market, By Country, 2013-2020 (USD Million)
Table 39 Asia-Pacific Orthopedic Braces Market, By Product, 2013-2020 (USD Million)
Table 40 Asia-Pacific Knee Braces & Supports Market, By Product, 2013-2020 (USD Million)
Table 41 Asia-Pacific Foot and Ankle Braces & Supports Market, By Product,  2013-2020 (USD Million)
Table 42 Asia-Pacific Upper Extremity Braces & Supports Market, By Product,  2013-2020 (USD Million)
Table 43 Asia-Pacific Orthopedic Braces & Supports Market, By End User, 2013-2020 (USD Million)
Table 44 RoW Orthopedic Braces Market, By Product, 2013-2020 (USD Million)
Table 45 RoW Knee Braces & Supports Market, By Product, 2013-2020 (USD Million)
Table 46 RoW Foot and Ankle Braces & Supports Market, By Product, 2013-2020 (USD Million)
Table 47 RoW Upper Extremity Braces & Supports Market, By Product, 2013-2020 (USD Million)
Table 48 RoW Orthopedic Braces Market, By End User, 2013-2020 (USD Million)
Table 49 New Product Launches, 2013–2015
Table 50 Mergers & Acquisitions, 2013–2015
Table 51 Expansions, 2011–2014
Table 52 Partnerships, 2011–2014
Table 53 DJO, LLC : Financials, By Business Segment, 2012-2014 (USD Million)
Table 54 DJO, LLC : Financials, By Geographic Segment, 2012-2014 (USD Million)


List of Figures (39 Figures)

Figure 1 Research Methodology
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Demand Side Approach: Global Aging Population, 2014
Figure 5 Growing Aging Population and Prevalence of Arthritis Disease Offer High-Growth Opportunities in the Orthopedic Braces Market
Figure 6 Asia-Pacific Foot and Ankle Braces & Supports Market to Offer Lucrative Growth Opportunities for the Market Players
Figure 7 Market Dynamics
Figure 8 Porter’s Five Forces Analysis
Figure 9 The Knee Braces & Supports Market Will Continue to Hold the Largest Market Share in Forecast Period
Figure 10 Knee Braces & Supports Market, By Product, 2015 vs 2020 (USD Million)
Figure 11 Knee Braces & Supports Market, By Geography, 2015 vs 2020 (USD Million)
Figure 12 Foot and Ankle Braces & Supports Market, By Product, 2015 vs 2020 (USD Million)
Figure 13 Foot and Ankle Braces & Supports Market, By Geography, 2015 vs 2020 (USD Million)
Figure 14 Spinal Orthoses Market, By Geography, 2015 vs 2020 (USD Million)
Figure 15 Upper Extremity Braces & Supports Market, By Product, 2015 vs 2020 (USD Million)
Figure 16 Upper Extremity Braces & Supports Market, By Geography, 2015 vs 2020 (USD Million)
Figure 17 Wrist & Hand Supports Market, By Geography,  2015 vs 2020 (USD Million)
Figure 18 Orthopedic Clinics are Estimated to Dominate the Market in 2015
Figure 19 Orthopedic Braces & Support Market, By Geography, 2015 vs 2020 (USD Million)
Figure 20 Orthopedic Braces Market in Orthopedic Clinics, By Geography, 2015 vs 2020 (USD Million)
Figure 21 Orthopedic Braces Market in OTC, By Geography, 2015 vs 2020 (USD Million)
Figure 22 Orthopedic Braces Market in Hospitals, By Geography, 2015 vs 2020 (USD Million)
Figure 23 Orthopedic Braces & Support Market in Other End Users, By Geography, 2015 vs 2020 (USD Million)
Figure 24 Orthopedic Braces & Support Market, By Geography (2015)
Figure 25 North America Orthopedic Braces & Support Market, By Country, 2015 vs 2020 (USD Million)
Figure 26 North America Orthopedic Braces & Support Market, By Product, 2015 vs 2020 (%)
Figure 27 Europe Orthopedic Braces & Support Market, By Country,  2015 vs 2020 (USD Million)
Figure 28 Europe Orthopedic Braces & Support Market, By Product,  2015 vs 2020 (%)
Figure 29 Asia-Pacific Orthopedic Braces & Supports Market, By Country, 2015 vs 2020 (USD Million)
Figure 30 Asia-Pacific Orthopedic Braces & Support Market, By Product, 2015 vs 2020 (%)
Figure 31 RoW Orthopedic Braces & Supports Market, By Product, 2015 vs 2020 (%)
Figure 32 Companies Adopted Launch of New Products as the Key Growth Strategy Over the Last Three Years
Figure 33 Geographic Revenue Mix of Top Market Players
Figure 34 BSN Medical: SWOT Analysis
Figure 35 Deroyal Industries, Inc.: SWOT Analysis
Figure 36 DJO, LLC.: Business Overview
Figure 37 DJO, LLC.: SWOT Analysis
Figure 38 Ossur.: Business Overview
Figure 39 Ossur: SWOT Analysis

The increasing number of accidents and rising number of cases of osteoarthritis, osteoporosis, and other bone disorders has led to increased research activities for treatments that help heal bone injuries.

In this report, the global orthopedic braces & supports market has been analysed and segmented based on type, end-user, and region. This market has also been analyzed with an explicit focus on the high-growth type and fastest-growing market segments. The report analyzes the competitive developments, such as new product launch, joint venture, and merger & acquisition in the global orthopedic braces market.

Orthopedic braces and supports are designed to protect, support, and correct injuries; these are predominantly used in injury rehabilitation, injury prevention, osteoarthritic care, and post-operative care, among others. Based on the condition for which these are used orthopedic support market are segmented in four types, namely, knee braces and supports, foot and ankle braces & supports, spinal orthoses, and upper extremity braces and supports. The knee braces & supports segment accounted for the largest share of 42.5% of the market in 2014 and was valued at 1.4 billion in the same year. Based on end users, the global orthopedic braces and supports system market has been segmented into orthopedic clinics, over-the-counter (OTC), hospitals, and other end users. Among all end users, the sale of orthopedic braces & supports over the counter is expected to increase in the coming.

In the recent years, a large number of population has opted for recreational and sport activities. Orthopedic braces are used by this population to prevent any sports injuries. These braces are readily available in pharmacies and can be sold over-the-counter.

The dominance of the companies operational in this market is region specific. For example, the global market leader DJO, LLC is also a leader in North America. However, Ossur is a market in Europe, while Ottobock in APAC. In 2014, DJO, LLC (U.S.) accounted for the largest share of 20.1% of the global orthopedic braces market. DJO, LLC’s diversified portfolio of orthopedic braces & supports and a strong geographic presence (particularly in North America) enabled it to generate high revenues in this market.

Globally, the increasing aging population has become a major driver for the growth of the orthopaedic industry. According to National Institute of Health (NIH), in 2010 approximately 524 million people across the globe were registered to be within the age group of 65 years or above, representing 8.0% of the global population. By 2050, this number is expected to rise threefold and reach 1.5 billion, representing 16.0% of the global population. Thus, the incidence rate of various diseases, especially the disorders and diseases related to bones, is expected to increase. The prevalence of other comorbidities associated with aging population, such as osteoarthritis, diabetes, obesity, and osteoporosis also contribute to the increase in the patient pool for the global orthopedic braces & support systems, thereby driving the growth of the market.

The global orthopedic braces and support market was valued at USD 3.2 Billion in 2014, and is expected to reach USD 4.3 Billion by 2020, at a CAGR of 5.0% from 2015 to 2020.

Some of the major players in the orthopedic braces & supports include Bauerfeind AG (Germany) Breg, Inc. (U.S.) DeRoyal Industries, Inc. (U.S.), DJO LLC (U.S.), Ossur (Iceland), Ottobock (Germany), and BSN Medical (Germany).

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