The global orthopedic braces and supports (orthotics) market will rise in value from $2.56 billion in 2014 to just under $3.5 billion by 2021, largely driven by an aging population and patient preference for braces and supports as non-invasive treatment options. The expanding use of braces and supports reflects the growing proportion of the population likely to benefit from their use, namely post-operative patients and the elderly. Braces are increasingly being adopted worldwide thanks to their dynamic therapeutic approach, especially in fracture treatment and post-operative rehabilitation. While the market is dominated by knee braces, upper extremity braces are expected to grow at the fastest rate. However, developing countries with little to no reimbursement for patients requiring expensive custom devices will restrict market growth.
GlobalData’s MediPoint: Braces and Supports and Prosthetic Devices – Global Analysis and Market Forecasts report provides analysis of the orthotics and prosthetics sectors across the ten major markets from 2014 with forecasts until 2021.
Key questions answered in this report:
- What is the current and future market outlook in the developed and emerging markets? What trends are affecting the global market?
- Which are the key, high growth markets that manufacturers should expand into? Which markets are growing the fastest, and what are the top-selling products in each segment?
- What are the unmet needs with products currently on the market? How will emerging technologies fulfil these unmet needs?
- What clinical factors and technical specifications influence a physician to use one type of brace or prosthetic device over another? What is the physician’s perception and market outlook?
- With the development of next-generation products, what aspects of the technology are device manufacturers focused on optimizing? How will new entrants impact the global market?
Are you aware of the challenges and complications that have hindered widespread adoption?