Dublin, Aug. 17, 2020 (GLOBE NEWSWIRE) -- The "Orthopedic Braces & Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Neck, Elbow, Hand, Wrist), Category (Soft, Hard, Hinged), Application (Ligament (ACL, LCL), Preventive, OA), Distribution (Hospital) & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.The global orthopedic braces and supports market size is projected to reach USD 4.1 billion by 2025 from USD 3.1 billion in 2020, at a CAGR of 5.8%.The recent COVID-19 global pandemic has also impacted the orthopedic braces and supports market. Demand from the main end-users has declined significantly as key regions and countries have imposed social distancing rules and lockdowns. This impact is expected to be short-term, and no adverse effects are to be foreseen after the market gradually reopens.The knee braces and supports segment to witness the highest growth rate in the orthopedic braces and supports market, by product, during the forecast period.The knee braces and support segment is expected to witness the highest growth rate during the forecast period. The high growth in this segment can be attributed to the several benefits offered by these products, such as medial & lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.Soft braces and supports segment to witness the highest growth rate in the orthopedic braces and supports market, by type, during the forecast period.The soft & elastic braces and support segment is estimated to grow at the highest CAGR during the forecast period. Growth in this market can primarily be attributed to the increasing availability of advanced products, rising adoption & patient preference for orthopedic braces in post-operative and preventive care, and the supportive reimbursement scenario for target products across mature markets.The ligament injury segment accounted for the largest share of the orthopedic braces and supports market, by application, in 2019.The ligament injury segment accounted for the largest share of the orthopedic braces and supports the industry in 2019. The large share of this segment is attributed to increasing public participation in sports & athletic activities (coupled with the rising incidence of sports-related injuries), rising number of accidents worldwide, and the growing availability of medical reimbursement for ligament injuries.The hospitals & surgical centers segment accounted for the largest share of the orthopedic braces and supports market, by distribution channel, in 2019.The hospitals & surgical centers segment accounted for the largest share of the orthopedic braces and support industry in 2019. Market growth can largely be attributed to the growing number of orthopedic surgical procedures that require post-operative patient rehabilitation. Moreover, the favorable reimbursement for customized braces and supports (coupled with the increasing availability of insurance coverage for the surgical treatment of orthopedic disorders such as ligament injury, bone deformity, scoliosis, and osteoporosis) across major countries is also driving growth.The Asia Pacific market to grow at the highest CAGR during the forecast period.The orthopedic braces and supports market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period majorly due to the significant prevalence of orthopedic & diabetes-related diseases in this population segment, increasingly localized product manufacturing, favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries.Research CoverageThis report studies the orthopedic braces and supports market based on the product, type, application, end-user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).The major players operating in the orthopedic braces and supports market are ssur Hf (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Ottobock Holding GmbH & Co. KG (Germany), Medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Remington Products Company (US), 3M Company (US), Zimmer Biomet Holdings, Inc. (US), DeRoyal Industries, Inc. (US), Bird & Cronin, Inc. (US), Becker Orthopedic (US), and Trulife (Ireland).Key Topics Covered1 IntroductionFor more information about this report visit https://www.researchandmarkets.com/r/3g89zaResearch and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
August 17, 2020 at 07:08PM
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Global $4.1 Bn Orthopedic Braces & Supports Market by Product, Category, Application, Distribution and Region - Forecast to 2025 - GlobeNewswire
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