Hip Orthosis Market Predicted to Jump Over $552.3 Million by 2030- Allied Market Research

North America contributed to the highest Hip orthosis market share in 2020, and is expected to continue its lead position by 2030.

Portland, OR, Oct. 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hip orthosis market generated $354.7 million in 2020, and is estimated to reach $552.3 million by 2030, witnessing a CAGR of 4.7% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario.

Surge in incidence of musculoskeletal conditions and rise in number of road accidents drive the growth of the global hip orthosis market. However, changes in payer reimbursements hinder the market growth. On the other hand, increase in awareness regarding benefits of hip orthosis on the quality of life, especially in developing nations such as India and China presents new opportunities in the coming years.

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Impact of Covid-19 on Hip Orthosis Market-

  • The Covid-19 pandemic impacted outpatient clinics, rehabilitation centers, emergency & elective surgeries, resident training, telemedicine, personnel management, and all sub-specialties of orthopedics.
  • There has been a significant shift in resources to Covid wards in hospitals with rapid increase in number of patients infected with the Covid-19. This shift postponed non-urgent surgeries. Moreover, there has been a decline in patient visits to avoid cross-contamination.
  • Manufacturing activities of hip orthosis products were hampered due to lockdown restrictions. The raw material shortage occurred due to supply chain disruptions.

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The report offers detailed segmentation of the global hip orthosis market based on modality, product type, application, age group, and region.

Based on modality, the wearable hip orthosis segment accounted for the largest share in 2020, contributing to around two-thirds of the total share, and is projected to maintain its leadership status during the forecast period. In addition, this segment is estimated to manifest the highest CAGR of 5.1% from 2021 to 2030. The research also analyzes the fixed hip orthosis segment.

Based on application, the osteoarthritis segment held the highest share in 2020, accounting for nearly half of the global hip orthosis market, and is expected to maintain its dominant share throughout the forecast period. Moreover, this segment is projected to register the largest CAGR of 5.5% from 2021 to 2030.

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Based on region, North America contributed to the highest share in 2020, accounting for more than one-third of the total market share, and is expected to continue its lead position by 2030. However, Europe is estimated to portray the fastest CAGR of 5.6% during the forecast period.

Leading players of the global hip orthosis market analyzed in the research include RCAI, Bauerfeild, DJO Global, Blunding, Steeper, Hanger Clinic, Innovation Rehab, Ottobock, Becker Orthopedic, and Ossur.

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