Selbyville, Delaware, Feb. 18, 2021 (GLOBE NEWSWIRE) --
According to latest report “Orthopedic Support Systems Market by Product (Braces, Splint, Bandage & Sleeves, Strap), Application (Upper Body Extremities, Lower Body Extremities), Patient (Adult, Paediatric), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of orthopedic support systems will cross $5.1 billion by 2027.
Growing public awareness pertaining to preventive care will stimulate the market growth. Several hospitals and organizations are engaged in organizing preventive care awareness worldwide owing to the increasing prevalence of chronic disorders. For instance, the Bone and Joint National Action Week focuses on events and projects worldwide that raise awareness about prevention, disease management, and treatments. The Bone and Joint National Action Week also focuses on disorders such as arthritis, back pain, osteoporosis, and the effects of childhood obesity on the musculoskeletal system. Awareness initiatives are augmenting the number of people opting to utilize orthopedic support systems, thereby contributing to the growing demand.
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Splint segment in the orthopedic support systems market accounted for more than USD 670 million in 2020 led by the hardness that is used as a support to join and protect the broken bones, tendons and ligaments. They provide immobilization to the area from where the bones are broken and maintains muscle, and bone recovery. Therefore, splinting materials such as fiberglass splints, plaster splints and other splinting accessories are in huge demand.
Orthopedic support systems market for lower body extremities segment is expected to witness around 7.9% growth rate till 2027 impelled by increase in incidences of rupture disks, scoliosis, stress-induced back-pain and scoliosis. Wide foot related problems have also led to a surge in adoption of orthopedic support systems. Growing prevalence of obesity across the globe is increasing the number of people unable to walk and move. Furthermore, rising prevalence of rheumatoid arthritis is anticipated to elevate the demand for orthopedic support systems.
Pediatric segment in the orthopedic support systems market exceeded USD 336 million in 2020 propelled by growing number of child injuries. Child injuries are a growing global health problem and requires immediate attention. Unintentional injuries account for 90% of the child injuries. In addition, the number of children born with bone and musculoskeletal disorders such as limb deformity and spinal deformity is increasing significantly. These factors potentially boost the demand for orthopedic support systems across the globe.
Brazil dominated the Latin America orthopedic support systems market and accounted USD 44 million in 2020 owing to the increasing number of skilled healthcare professionals and developing healthcare infrastructure. Additionally, growing number of sport-related orthopedic injuries and disorders in the country is spurring the demand for orthopedic support systems. Rising awareness pertaining to preventive care is also fueling the regional growth.
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Some of the major players operating in the market include Breg, Inc, DeRoyal Industries, Inc., DJO Global, Inc., Bauerfeind AG, Alcare Company Ltd., Otto Bock Healthcare GmbH, Ossur Corporate, FLA Orthopedics, Inc. and medi GmbH & Co. KG among others. These major leaders are focusing on several strategic new product launches to enhance their market presence.
Table of Contents (ToC) of the report:
Chapter 3 Orthopedic Support Systems Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.4 Technological advancements
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By application
3.4.3 By patient
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 Competitive landscape, 2019
3.7.1 Competitive matrix analysis
3.8 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/orthopedic-support-systems-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.