Rising Participation in Sports to Generate Lucrative Opportunities for Market Players


The global market for orthopedic braces and support, casting and splints is growing at a healthy pace, due to the rising number of injuries. The key players in the market are focusing on enhancing their distribution network in order to reach a large volume of audience worldwide. As per a research report by Transparency Market Research, in 2015, the global market for orthopedic braces and support, casting, and splints was worth US$4.6 bn. The market is estimated to reach a value of US$7.9 bn by the end of 2024, exhibiting a progressive 6.40% CAGR between 2016 and 2024.

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Which factors will influence the demand of the orthopedic braces and support, casting and splints market?

A significant rise in the number of sports injuries across the globe is considered as the major factor encouraging the growth of the global orthopedic braces and support, casting and splints market in the next few years. In addition, the rising geriatric population and the rising cases of bone disorders are anticipated to augment the growth of the market in the near future. The rising disposable income of consumers and the rising wiliness to spend on healthcare facilities are likely to fuel the development of the market. The development of new and enhanced products is predicted to generate promising opportunities in the near future.

Which factors will help North America in retaining its prominent position in the near future?

In the last few years, the North America market for orthopedic braces and support, casting, and splints accounted for a lion’s share of the global market. As per the report, this region is likely to remain in the leading position in the next few years, owing to the rising number of cases of osteopenia and osteoporosis. In addition, the rapidly developing network of hospitals and clinics, especially in the U.S. and the growing emphasis on technological advancements are likely to propel the North America market in the next few years. The Asia Pacific market, on the other hand, is expected to witness a strong growth in the near future with developing economic conditions.

What is the nature of the market in terms of the competition among players?


At present, the global market for orthopedic braces and support, casting, and splints is highly competitive in nature with a presence of a large number of players operating in it. The leading players in the market are emphasizing on collaborations and mergers and acquisitions in order to enhance their presence across the globe. In addition, the introduction of new products is estimated to help the players in attracting a large number of players and gain a competitive edge in the coming years. The expansion of the product portfolio and technological advancements are some of the other factors that are predicted to accelerate the growth of the overall market in the next few years.

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