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  • According to Transparency Market Research’s latest report on the global Orthopedic Braces & Support, Casting & Splints   market for the historical period 2017–2018 and forecast period 2019–2027, Increasing incidences of injuries related to accidents, sports, and adventure, growing ageing & baby boomers population, rising obese population across the globe, increase in healthcare expenditure and technological advancements  are projected to drive the global Orthopedic Braces & Support, Casting & Splints  market during the forecast period.
  • According to the report, the global Orthopedic Braces & Support, Casting & Splints   market was valued at US$ 5,492.5 Mn in 2018 and is anticipated to expand at a CAGR of 5.9% from 2019 to 2027.

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Rise in incidence of orthopedic injuries related to accidents, sports, and adventure across globe to propel the Orthopedic Braces & Support, Casting & Splints market: Key Drivers

  • Sports injuries are expected to drive the foot & ankle devices market during the forecast period. According to a study by the American Academy of Orthopedic Surgeons (AAOS), around 25% of sports injuries were related to lower extremities such as ankle and foot. Serious bone injuries have been reported recently among professionals as well as amateur sportsmen. Furthermore, according to the Centers for Disease Control and Prevention, approximately, 9.2 million children – aged between 1 year and 19 years – were admitted in emergency departments due to sports injuries.
  • Orthopedic Injuries most common cause for admission in the hospitals, and as per research, fall related injuries accounted for 51% of the cases and 61% of cases are registered as orthopedic surgical procedures.  Also, as per research, growth in the road traffic injuries is another propelling factor for the growth of Orthopedic Braces & Support, Casting & Splints market globally.

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Increase in Global Aging Population to Boost Market Growth

  • Continuous growth in geriatric population is expected to be one of the potential drivers of the cast, splits and braces equipment and supplies market during the forecast period. Bone disorders such as arthritis, back pain, and osteoporosis are common problems globally. With progression of age, cartilage is prone to strain and fatigued due to less water content. This leads to arthritis and cushioning at the joints which requires casts, splints, or braces. Furthermore, other connective tissues such as ligaments attached to the bones, become less flexible and more constrained, which is expected to drive demand for casts, splints, and braces among the geriatric population.
  • According to WHO estimates, the global geriatric population is likely to reach around 2 billion (22% of global population) by 2050, which is further  expected to further drive the orthopedic braces, support, casts and splints market over the forecast period.

 High cost associated with fibre material and stringent reimbursement policies to Hamper Market growth

  • Braces are designed by using various materials which are durable and strong in nature. Durability and strength are the key components for braces to support body weight as well as the other activities performed by the individual. High cost of the materials is expected to hinder the braces and support market in the near future.
  •  The reimbursement scenario in various developing and developed region varies considerably in terms of pricing, co-payments, and settlements. Complexities arising due to these differences creates complications for third-party payers such as private insurance companies and social security systems. They play a key role between the user and the healthcare organization. Reimbursement in every region depends upon compliance with a complex set of rules and regulations. An unfavorable reimbursement scenario and lack of insurance coverage is expected to impede the braces, support, casting and splinting market during the forecast period. Low priced health insurance and cost cutting related to orthopedic product reimbursements is projected to negatively impact the market growth during forecast period.

Global Orthopedic Braces & Support, Casting & Splints Market: Competitive Landscape

  • This report profiles major players in the global Orthopedic Braces & Support, Casting & Splints   market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global Orthopedic Braces & Support, Casting & Splints   market is highly fragmented, due to presence of large number & small players offering Orthopedic Braces & Support, Casting & Splints products.
  •  Prominent players operating in the global Orthopedic Braces & Support, Casting & Splints market are
    • 3M
    • Ossur Corporate
    • BSN Medical GmbH
    • DeRoyal Industries, Inc
    • DJO Global
    • Orfit Industries n.v.
    • Spencer Italia S.r.l
    • Prime Medical, Inc.
    • Stryker Corporation
    • Zimmer Biomet Holdings, Inc.
    • other Prominent Players

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Global Orthopedic Braces & Support, Casting & Splints Market: Key Developments

  • Key players in the global Orthopedic Braces & Support, Casting & Splints market are engaged in regulatory approvals, rise in surgeries launching of product portfolio, extensive geographical presence, growing presence in emerging markets and technological advancements. These strategies are likely to fuel the growth of the global Orthopedic Braces & Support, Casting & Splints market across globe. A few expansion strategies adopted by players operating in the global Orthopedic Braces & Support, Casting & Splints   market are:
  • In July 2020, Breg Inc., partnered with UK based distributor ‘’ Joint Operations LLP” for expansion of its premium orthopedic products in the UK/Ireland market.
  •  In November 2018, Colfax acquired DJO global, a leader in offering braces and support devices worth US$ 3.15 billion. This acquisition aims to create an innovative platform thereby providing opportunities for growth and increasing product portfolio offerings. 

The report on the global Orthopedic Braces & Support, Casting & Splints market discussed individual strategies, followed by company profiles of manufacturers of Orthopedic Braces & Support, Casting & Splints. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global Orthopedic Braces & Support, Casting & Splints market.

Global Orthopedic Braces & Support, Casting & Splints Market - Scope of Report

TMR’s report on the global Orthopedic Braces & Support, Casting & Splints market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global Orthopedic Braces & Support, Casting & Splints market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global Orthopedic Braces & Support, Casting & Splints market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global Orthopedic Braces & Support, Casting & Splints market.

Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global Orthopedic Braces & Support, Casting & Splints market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global Orthopedic Braces & Support, Casting & Splints market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global Orthopedic Braces & Support, Casting & Splints market.

The report delves into the competitive landscape of the global Orthopedic Braces & Support, Casting & Splints market. Key players operating in the global Orthopedic Braces & Support, Casting & Splints market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global Orthopedic Braces & Support, Casting & Splints market that have been profiled in this report.

Key Questions Answered in Global Orthopedic Braces & Support, Casting & Splints Market Report

  • What is the scope of growth of product companies in the global Orthopedic Braces & Support, Casting & Splints   market?
  • What will be the Y-o-Y growth of the global Orthopedic Braces & Support, Casting & Splints market between 2019 and 2027?
  • What is the influence of changing trends on the global Orthopedic Braces & Support, Casting & Splints market?
  • Which region will continue to be the most profitable market for Orthopedic Braces & Support, Casting & Splints providers?
  • Which factors are anticipated to hamper the growth of the global Orthopedic Braces & Support, Casting & Splints market during the forecast period?
  • Which are the leading companies in the global Orthopedic Braces & Support, Casting & Splints Market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global Orthopedic Braces & Support, Casting & Splints market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary methods referred to by analysts during the production of the global Orthopedic Braces & Support, Casting & Splints   market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, Orthopedic, Orthopedic surgeons, Research & Academic Institutes, and Medical Directors, who contributed to the production of TMR’s study on the Orthopedic Braces & Support, Casting & Splints  market as primary methods.

These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the Orthopedic Braces & Support, Casting & Splints market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global Orthopedic Braces & Support, Casting & Splints market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global Orthopedic Braces & Support, Casting & Splints market more reliably and accurately.

Regional Segmentation of Orthopedic Braces & Support, Casting & Splints Market

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Global Orthopedic Braces & Support, Casting & Splints Market – Segmentation

Type

  • Casting Supplies & Equipment Market Endoscopy Devices
  • Plaster Casts
  • Casting Tapes
  • Cast Cutters
  • Casting Tools and Accessories
  • Splinting Supplies & Equipment Market
  • Fiberglass Splints
  • Plaster Splints
  • Other Splints
  • Splinting Tools and Accessories
  • Orthopedic Braces and Supports
  • Upper Extremity Braces and Support
  • Shoulder Braces and Support
  • Neck Braces and Support
  • Elbow Braces and Support
  • Wrist Braces and Support
  • Spinal Braces and Support
  • Low Extremity Braces and Support
  • Knee Braces and Support
  • Ankle Braces and Support
  • Hip Braces and Support

Distribution Channel

  • Orthopedic Clinics
  • Hospitals
  • Over-the-Counter (OTC)
  • E-Commerce

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Orthopedic Braces Support Casting Splints Market

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