Based on current analysis, the global Orthopedic Products market was valued at USD 4.29 Billion in 2020 and is expected to reach USD 6.64 Billion by 2028, at a CAGR 5.9% Orthopedic Products are principally used in injury rehabilitation, injury prevention, osteoarthritic care, post-operative care and more. Fundamentally, orthopedic braces are wearable medical devices that provide appropriate alignment, posture correction which support the muscles while protecting and steadying several parts of the body mainly including bones, muscles and joints. Through the process of rehabilitation and recovery, orthopedic braces and orthopedic splints protect, stabilize, support and correct injuries or abnormal alignment. Orthopedics and orthotists are authorized professionals who guide their patients to use these devices. Orthopedic braces and support are devices which are advised to be worn immediately after the occurrence of the injury and are suggested to be worn throughout the period of rehabilitation and hospitalization.
Lower extremity braces are used for lower parts of the body, viz foot, ankle and knee while upper extremity braces are chiefly utilized to treat patients with impairments caused in the upper part of the body, namely wrist, elbows and shoulders. Patients having issues with their spinal cord and associated parts are recommended back and hip braces. Reasonable prices of the products with greater availability, increased number of accidental injuries, technological progressions, awareness regarding joints, bones and muscles and intensifying sports industry sectors are acting as market drivers to flourish high demands of orthopedic braces and support in the market. On the other hand, unfamiliarity regarding the new technological developments in the field of Orthopedic Products is restraining the growth of the market.
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Market Overview:
The global Orthopedic Products market has significantly grown over the recent past and is expected to register rapid growth over the forecast period. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Orthopedic Products market is significantly driven by factors such as increasing prevalence of chronic diseases, rapid advancements in healthcare and medical sector, high adoption of latest tools and techniques and growing funds by several public and private sectors. In addition, rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
Competitive Outlook of the Global Orthopedic Products Market
The globla Orthopedic Products market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Orthopedic Products market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers & acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
- Bauerfeind AG, Össur Hf, DJO Finance LLC, Breg, Inc., DeRoyal Industries, Inc., Bird & Cronin, Inc., Ottobock Holding GmbH & Co. KG, BSN medical, Zimmer Biomet Holdings, Inc., Oppo Medical, LLC, Becker Orthopedic, Thuasne Group, 3M Company, Reh4Mat, and United Ortho, Malvern Panalytical Ltd., HORIBA, Ltd., Unchained Labs, and SETARAM Instrumentation, among others.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Orthopedic Products Market Segmentation:
Type (Revenue in USD Million; 2018–2028)
- Soft and elastic
- Hard and rigid
- Hinged braces
- Other braces and supports
Product (Revenue in USD Million; 2018–2028)
- Elbow and Forearm
- Wrist-Hand
- Shoulders
- Ankle and Foot
- Knee
- Spine and Neck
Applications (Revenue in USD Million; 2018–2028)
- Injury Rehabilitation
- Injury Prevention
- Osteoarthritis Care
- Post-Operative Care
- Others
End User (Revenue in USD Million; 2018–2028)
- Hospitals
- Healthcare centers
- Clinics
- Research institutes
- Other
Geographic Segment Covered in the Report:
The Orthopedic Products report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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