NEW YORK, Sept. 25, 2017 /PRNewswire/ -- Orthopedic braces and supports market projected to grow at a CAGR of 5.6%
The global orthopedic braces and supports market is projected to reach USD 4.93 billion by 2022 from USD 3.76 billion in 2017, at a CAGR of 5.6%. Rising number of accident-related injuries, increasing sports participation across the globe, growing prevalence of orthopedic disorders and disease, and increasing availability of reimbursements for orthopedic braces and supports are the major factors driving the demand for orthopedic braces and supports market. Factors such as limited patient qualification for bracing-mediated orthopedic treatment, continuous decline in product pricing, and limited clinical evidence to support the efficacy of orthopedic braces and supports is limiting the growth of the market. Read the full report: https://www.reportlinker.com/p05113896The lower extremity braces and supports segment is expected to witness the highest growth during the forecast period
In 2017, on the basis of product, the lower extremity braces and supports segment is expected to register the highest growth rate during the forecast period, due to rising geriatric population, growing adoption of braces among athletes, and increasing use of braces and supports by osteoarthritis patients and athletes for preventive care. The soft & elastic braces and supports segment is estimated to have the largest share of the market in 2017
In 2017, on the basis of type, the soft & elastic braces and supports segment is expected to account for the largest share of the market, majorly due to the significant public participation in sports and outdoor activities (such as mountain biking, skateboarding, and snowboarding), rising geriatric population (at greater risks of joint inflammation, joint sprains, and flexibility loss), and the increasing prevalence of osteoarthritis & osteoporosis. The ligament injury segment is poised to be the fastest growing during the forecast period
In 2017, on the basis of application, the ligament injury segment is expected to register the highest growth rate during the forecast period, owing to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries) and public awareness related to the clinical benefits of these products in the effective clinical management of ligament injuries. The orthopedic clinics segment is expected to have the largest share of the market in 2017
In 2017, on the basis of end user, the orthopedic clinics segment is expected to account for the largest share of the market primarily due to the rising number of ambulatory care units across mature countries, significant rise in road accident injuries, higher availability of well-trained & skilled orthopedic technicians across major markets, and greater availability of reimbursements for outpatient orthopedic procedures. Asia Pacific is expected to register the highest growth rate during the forecast period
Geographically, the orthopedic braces and supports market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to register the highest growth rate during the forecast period owing to increasingly localized manufacturing, favorable government regulations, and growing focus of global product manufacturers on expanding their presence in APAC countries. Breakdown of supply-side primary interviews: by company type, designation, and region:
• By Company Type - Tier 1 – 25%, Tier 2 – 30% and Tier 3 – 45% • By Designation – C-level – 26%, Director-level – 30%, Others – 44% • By Region – North America - 34%, Europe – 26%, APAC – 23%, RoW – 17% The global orthopedic braces and supports market is competitive, with a large number of global and local players. In 2016, the market was dominated by DJO Finance LLC (US), Breg, Inc. (US), and Ossur Hf (Iceland). Product launches, strategic acquisitions, and partnerships were the major strategies adopted by market players to achieve growth in the market. Research Coverage
This report studies the orthopedic braces and supports market based on product, type, application, and end user. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for the market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions. Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis—industry trends, market share analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the orthopedic braces and supports market, and high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities. The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn help firms garner greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies for strengthening their market shares. The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the major players in the orthopedic braces and supports market. The report analyzes the orthopedic braces and supports market based on product, type, application, end user and region • Product Development: Detailed insights on the research and development activities and product launches in the orthopedic braces and supports market • Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various orthopedic braces and support products across geographies • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the orthopedic braces and supports market • Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the orthopedic braces and supports marketRead the full report: https://www.reportlinker.com/p05113896
About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. https://www.reportlinker.com
__________________________ Contact Clare: [email protected]
US: (339)-368-6001 Intl: +1 339-368-6001
View original content:http://www.prnewswire.com/news-releases/orthopedic-braces-and-supports-market-by-product-upper-extremity--application-end-user---global-forecast-to-2022-300525415.html
SOURCE Reportlinker
