Orthopedic Support Systems Market Expecting an Outstanding Growth Till 2027
Category: #business  By Ronak Bora  Date: 2021-08-03
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Orthopedic Support Systems Market Expecting an Outstanding Growth Till 2027

Global orthopedic support systems market is anticipated to amass considerable profits over the foreseeable future, owing to the rising incidences of orthopedic diseases, coupled with the rapid technological advancements worldwide. The general public is becoming increasingly aware about the presence of preventive care services in the healthcare setting, which will contribute to the growing popularity of orthopedic support products.

Likewise, organizations and hospitals across the globe are raising awareness about preventive care due to the growing number of patients with chronic diseases. For example, the Bone & Joint National Action Week has been focusing on various projects and events to help increase knowledge about disease management, prevention, and treatments. This program also emphasizes on gaining information related to disorders such as osteoporosis, back pain, arthritis, as well as the impacts of childhood obesity on the musculoskeletal system. These aforementioned factors will amplify the demand for OTC braces and supports over the coming years.

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As per Global Market Insights, Inc. estimates, the global orthopedic support systems market size is anticipated to cross $5.1 billion by 2027.

In terms of segmentation by product, the global orthopedic support systems market from the splint segment registered remuneration of more than $670 million in 2020, which was attributable to its superior features such as high strength and hardness and its subsequent adoption for joining and protecting broken bones, ligaments, and tendons. The usage of splinting materials, such as plaster and fiberglass splints, also ensures immobilization to the area where the fracture occurs as well as boosts muscle and bone recovery.

With regards to patient, the pediatric segment recorded revenue worth more than $336 million in 2020, due to the accelerating rates of child injuries that require immediate attention. As per reliable estimates, unintentional injuries account for 90% of the overall child injuries. The segmental growth can further be credited to the increasing number of children born with musculoskeletal and bone disorders like spinal deformity and limb deformity.

Considering the application spectrum, the global orthopedic support systems market from the lower body extremities segment is poised to exhibit a CAGR of 7.9% through 2027, driven by the mounting prevalence of scoliosis, stress-induced back-pain, and ruptured disks. Moreover, rising incidences of wide foot-related issues, obesity, and rheumatoid arthritis will surge the launch of numerous orthopedic braces and support systems.

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For instance, in June 2020, DJO® unveiled its DonJoy® X-ROM™ Post-Op Knee Brace, equipped with DonJoy’s advanced ROM (range of motion) and enhanced user-friendly design, to ensure easy and faster adjustment and applications. The product is also capable of aiding patients in recovering from ACL repair & other knee surgeries, along with high stability and comfort.

From a regional perspective, the Brazil orthopedic support systems market was valued at above $44 million in 2020, which can be credited to the increasing skilled healthcare professionals, alongside the rapid advancements of healthcare infrastructure in the region. The regional industry trends will further be fostered by the high prominence of sport-related orthopedic disorders and injuries as well as robust awareness about the availability of preventive care.

The competitive landscape of the orthopedic support systems industry consists of companies such as medi GmbH & Co. KG, FLA Orthopedics, Inc., Ossur Corporate, Otto Bock Healthcare GmbH, Bauerfeind AG, DJO Global, Inc., DeRoyal Industries, Inc., and Breg, Inc, among others. These firms are implementing strategies such as novel product launches, M&A, and business expansions to strengthen their industrial position and expand their geographical footprint.

To illustrate, in November 2020, Olympus Corporation announced the acquisition of an orthopedic company, FH ORTHO SAS, with an objective to build a portfolio of patient-focused and innovative solutions used in MIS procedures in foot & ankle, ligament repair, and trauma surgery.

Partial Chapter of the Table of Content:

Chapter 2   Executive Summary

2.1    Orthopedic support systems industry 3600 synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4    Patient trends

2.1.5    Regional Trends

Chapter 3   Orthopedic Support Systems Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 – 2027

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Increasing prevalence of orthopedic diseases and disorders

3.3.1.2    Rise in cases of sports and accident-related injuries

3.3.1.3    Growing public awareness pertaining to preventive care

3.3.1.4    Technological advancements

3.3.2    Industry pitfalls & challenges

3.3.2.1    High cost of the products

3.3.2.2    Lack of knowledge regarding the orthopedic support systems

3.4    Growth potential analysis

3.4.1    By product

3.4.2    By application

3.4.3    By patient

3.5    COVID-19 impact analysis

3.6    Porter’s analysis

3.7    Competitive landscape, 2019

3.7.1    Competitive matrix analysis

3.8    PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/orthopedic-support-systems-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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