Global Orthopedic Braces And Supports Market Size & Outlook
Global orthopedic braces and supports market, 2017-2030 (US$M)
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Global orthopedic braces and supports market highlights
- The global orthopedic braces and supports market generated a revenue of USD 4,439.5 million in 2023 and is expected to reach USD 7,006.2 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 6.7% by 2030.
- In terms of segment, braces & supports type accounted for a revenue of USD 3,324.1 million in 2023.
- Braces & Supports Type is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 4,439.5 million |
| Market revenue in 2030 | USD 7,006.2 million |
| Growth rate | 6.7% (CAGR from 2023 to 2030) |
| Largest segment | Braces & supports type |
| Fastest growing segment | Braces & Supports Type |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Braces & Supports Type, Pain Management Products |
Other key industry trends
- In terms of revenue, the North America accounted for 33.7% of the global orthopedic braces and supports market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 1,950.7 million by 2030.
Braces & supports type was the largest segment with a revenue share of 74.88% in 2023. Horizon Databook has segmented the Global orthopedic braces and supports market based on braces & supports type, pain management products covering the revenue growth of each sub-segment from 2017 to 2030.
Rising incidence of osteoarthritis is considered as one of the key drivers for orthopedic braces and supports market. It is the most common form of arthritis affecting the population of all ages. According to Arthritis Foundation, it was estimated that over 78 million people in the U.S. with 18 years of age or above are anticipated to be diagnosed with arthritis by 2040.
Thus, people with arthritis are the primary target population for orthopedic braces. Hence, the rising prevalence of this disease is expected to heighten the demand for these devices. Rheumatoid arthritis is also another form, which affects the joints of the body and leads to muscle pain. According to RheumatoidArthritis.org 2016 statistics, around 1.3 million U.S. population and 1%of the global population is suffering from rheumatoid arthritis.
American Academy of Orthopedic Surgeons estimated that 90% of patients suffering from rheumatoid arthritis tend to develop some kind of symptoms in their foot and ankle. Thus, increasing the incidence of these chronic diseases leads to high demand for orthopedic braces and supports, which thereby impels the growth of the market.
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Orthopedic Braces And Supports Market Scope
Orthopedic Braces And Supports Market Companies
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Global orthopedic braces and supports market size, by regions, 2017-2030 (US$M)
Top 10 countries: Orthopedic braces and supports market size, 2023 (US$M)
Global orthopedic braces and supports market share, by product, 2023 & 2030 (%, US$M)
Orthopedic braces and supports market: Opportunity assessment by country
Global orthopedic braces and supports market, by region, 2023 (US$M)
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