Orthopedic Braces & Support Market witnesses Upsurge in Millennial Customers amid Rising Sports Injury Cases, Future Market Insights
Rising health & fitness concerns have prompted the millennials to engage in sports and exercises involving strenuous muscle activity. Consequently, problems such as sprained ankles, frozen shoulders and stiff limbs are increasing amongst the younger generation, thereby increasing sales of orthopedic braces & support devices.
However, the coronavirus pandemic has dented near-term growth prospects, attributed to a decline in outdoor activities due to social distancing protocols. Additionally, hospital visits to correct orthopedic anomalies have fallen as healthcare organizations are offering priority to COVID-19 patients.
"As the healthcare industry transitions towards providing patient-centric care, manufacturers are concentrating on including on-demand & data-enabled patient engagement solutions," infers an FMI analyst.
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Key Takeaways from FMI's Orthopedic Braces & Support Market Report
Orthopedic Braces & Support Market- Key Trends
Orthopedic Braces & Support Market- Region-wise Analysis
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Orthopedic Braces & Support Market- Competitive Landscape
The global orthopedic braces & support market is moderately fragmented, with the top five players accounting for majority sales. The prominent players in this landscape are: DJO Finance LLC, Breg Inc., DeRoyal Industries Inc., Bauerfeind AG and Ossur HF. Product portfolio diversification and innovations are important to ensure the aforementioned players' expansion.
In May 2020, DJO Finance LLC announced free availability of its OaraScore patient risk assessment algorithm for a period of 6 months. The algorithm is useful in providing information regarding which patients are the most appropriate to receive a total joint arthroplasty.
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Orthopedic Braces & Support Market Taxonomy
Product
Distribution Channel
Region/Country
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
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More Insights on the Orthopedic Braces & Support Market
FMI, in its new market research study, offers an unbiased assessment of the orthopedic braces and support market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report delivers complete analysis on orthopedic braces and support market through three different categories. Additionally, the study also provides pricing insights through different life cycle analyses, mapping of key market trends and technologies being implemented in the orthopedic braces and supports and product adoption across various end-use industries.
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