Osteoporosis is one of the leading causes of musculoskeletal disorders amongst the aging population. This generates the need for orthopedic support systems. Geriatric population plays a vital role in accelerating the demand for the products in the market. This population base exhibits highest incidence of musculoskeletal disorders.
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Aging leads to significant changes in the skeletal and neuromuscular systems, resulting in weak ligament, arthritis, and Anterior Cruciate Ligament (ACL) tear. Currently, the geriatric population is growing at an unprecedented rate. As a result, the demand for orthopedic braces and supports is expected to grow in the near future.
Rising incidence of sport-related injuries has also become a leading cause for osteoarthritis among athletes. Health conscious people are continuously engaged in fitness-related activities. This might lead to muscle pain, which results in increased demand for braces & supports. Sometimes, athletic activities can also result in knee joint disorder, which facilitates rise in demand for knee braces.
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Further Key Findings From the Study Suggest:
- Knee braces and supports held the largest market share in 2015 as knees are extremely vulnerability to injury at the time of sports-related activities
- Amongst the end-use segment, orthopedic clinic was the largest revenue contributor in 2015 due to increasing preference for orthopedic consultations for quick check up
- The Over-the-counter (OTC) segment is anticipated to grow at a lucrative CAGR over the forecast period owing to the fact that the braces and support systems are readily available in the retail stores without a doctor's prescription
- North America dominated the market in 2015 owing to rising healthcare spending and high purchasing power associated with this region
- Asia Pacific is expected to witness attractive growth over the forecast period due to rising geriatric population in China
- Some of the key companies are Bauerfeind AG; DJO Global, Inc.; ossur Corporate; Breg, Inc.; DeRoyal Industries, Inc.; Otto Bock Healthcare GmbH; and BSN Medical GmbH.
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