Growth of market across four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
Factors such as high adoption of pain medications, limited clinical evidence to support the efficacy of orthopedic braces and supports, and limited patient qualification for bracing-mediated orthopedic treatment are expected to restrain the growth of the Orthopedic Braces and Supports Market during the forecast period.
The global orthopedic braces and supports market is projected to reach USD 4.93 Billion by 2022 from USD 3.56 Billion in 2016, at a CAGR of 5.6% during 2017–2022.
Factors such as high adoption of pain medications, limited clinical evidence to support the efficacy of orthopedic braces and supports, and limited patient qualification for bracing-mediated orthopedic treatment are expected to restrain the growth of the Orthopedic Braces and Supports Market during the forecast period.
Of the four geographic regions studied in the report, North America is expected to command the largest share of the market in 2017 owing to the favorable medical reimbursement scenario & availability of insurance for major orthopedic bracing procedures and expansion of target patient population (especially osteoporosis and osteoarthritis patients as well as those suffering from musculoskeletal injuries).
However, Asia Pacific is expected to register the highest growth rate during the forecast period due to increasing GDP & healthcare expenditure and growing public awareness about various orthopedic treatments.
The major players in the market are DJO Finance LLC (US), Breg, Inc. (US), Ossur Hf (Iceland), DeRoyal Industries, Inc. (US), Bauerfeind AG (Germany), Otto Bock Holding GmbH & Co. KG (Germany), BSN medical (Germany), medi GmbH & Co. KG (Germany), THUASNE Group (France), and 3M Company (US).
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