Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- Orthopedic Braces And Support Devices And Equipment Global Market Report 2020
The orthopedic braces and support devices and equipment market consists of sales of orthopedic braces and support devices and equipment and related services. Orthopedic braces and support systems are primarily used in injury prevention, injury rehabilitation, post-operative care and osteoarthritic care. These are also used to protect, support and strengthen the joints and muscles and are used by atheltes to prevent themselves from injuries. The orthopedic braces and support devices and equipment market is segmented into lower extremity braces, upper extremity braces and back and hip braces.
Rising geriatric population along with the rising deaths related to cardiovascular disorders is driving the cardiovascular surgical devices market. According to American Heart Association (AHA), in the US, approximately 43.7 million aged above 60 suffered from cardiovascular disorders. It is also reported by AHA that death related to cardiac diseases amount to 17.3 million per year and is expected to rise to more than 23.6 million by 2030, world-wide. Due to these factors, higher number of surgeries are being performed, thereby driving the market.
The global orthopedic braces and support devices and equipment market was valued at about $2.2 billion in 2018 and is expected to grow to $2.51 billion at a CAGR of 3.3% through 2022.
Top Leading Companies mentioned are
DJO Global, Bauerfeind AG, Otto Bock Healthcare GmbH, Breg, Inc. and Ossur Hf.
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The North American region accounts for about 50% of the global orthopedic braces and support devices and equipment. During the forecast period, Asia Pacific region is expected to be the fastest growing market.
Rise in geriatric population is driving the orthopedic braces and support devices and equipment market. Elderly people are more prone to injuries as their bones and connective tissues weakens with age. For example, In US 70% of the population aged between 50-70 years suffers from osteoarthritis and is likely to increase further in the forecast period. This is one of the major contributing factor for the growth of this market. High adoption of pain medications worldwide restraints the growth of orthopedic braces and support devices market. As more amount of people rely on pain killers for pains related to orthopedic disorders instead of adopting the use of a proper support device/braces. For example, Americans consume 80% of the world supply of painkillers including painkillers for Orthopedic treatments, thereby, hindering the orthopedic braces and support devices and equipment market.
News and latest Developments:
In March 2018, 3Ms consumer health care division issued orders to recall ankle braces and supports as the product contained undeclared natural latex rubber which may lead to allergic reactions in a few users. FDA ranked the recall as class 2, which are labelled as products causing a temporary health issue or pose a risk of minimal adversity. Thus, any product recall may hamper the markets growth as it would create a negative feedback regarding the product and people would hesitate to use the products.
On 19 November 2018, Colfax acquired DJO Global for $3.15 Billion. Colfax aims at creating a new platform for itself in orthopedic solution market as DJO Global is a leader in braces and support devices it brings a plethora of opportunities for Colfax to diversify product portfolio, gain end-market exposure and increase profitability. DJO manufactures a variety of orthopedic products for rehabilitation and physical therapy. It was founded in 1978 and headquartered in California, USA.
Essential points covered in Global Orthopedic Braces And Support Devices And Equipment Market2020 Research are:-
What will the market size and the growth rate be in 2020?
What are the key factors driving the global Orthopedic Braces And Support Devices And Equipment market?
What are the key markets trends impacting the growth of the global Orthopedic Braces And Support Devices And Equipment market?
What are the challenges to market growth?
Who are the key vendors in the global Orthopedic Braces And Support Devices And Equipment market?
What are the market opportunities and threats faced by the vendors in the global Orthopedic Braces And Support Devices And Equipment market?
What are the key outcomes of the five forces analysis of the global Orthopedic Braces And Support Devices And Equipment market?
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This independent 300 page report guarantees you will remain better informed than your competition. With over figures examining the Orthopedic Braces And Support Devices And Equipment market, the report gives you a visual, one-stop breakdown of the leading products, submarket and market leader's market revenue forecasts as well as analysis to 2020.
Geographically, this report is segmented into several key Regions, with Sales, revenue, Market Share (%) and Growth Rate (%) of Orthopedic Braces And Support Devices And Equipment in these regions, from 2014 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Furthermore, the report provides a detailed analysis of the global Orthopedic Braces And Support Devices And Equipment market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Orthopedic Braces And Support Devices And Equipment market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
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The research includes historic data from 2014 to 2020 and forecasts until 2020 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Orthopedic Braces And Support Devices And Equipment on the basis of stating current situation of the industry in 2020 so as to make comprehensive organization and judgment on the competition situation and development trend of Orthopedic Braces And Support Devices And Equipment Market and assist manufacturers and Orthopedic Braces And Support Devices And Equipment organization to better grasp the development course of Orthopedic Braces And Support Devices And Equipment Market.
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