Knee Braces Market Size by Application, Delivery Channel, Product, Region, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2029
Overview
Knee Braces Market size was valued at US$ 1.85 Bn. in 2021 and the total revenue is expected to grow at 4.34 % through 2022 to 2029, reaching nearly US$ 2.61 Bn.
Knee Braces Market Overview:
Knee Braces are used for the reduction of pain caused by a medical condition such as osteoarthritis, tendonitis, and others to prevent knee injury during sports activities. They support knee joints and are used for fast recovery after surgery. The knee braces are manufactured from a combination of metal, plastic, straps, foam, and elastic materials. The demand for knee braces is surging globally.
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Knee Braces Market Dynamics:
The growing amount of knee diseases in aged patients and rising surgical procedures are expected to develop the knee braces market. Around 61 million people were affected by arthritis in the US. (Arthritis Foundation 2021). The rising acceptance of robotic-assisted knee surgeries will lead to an upsurge in adoption throughout the world. The excessive incidence of knee osteoarthritis will produce numerous opportunities for growth for the corporations operating in the market.
Rising awareness concerning the advantages of knee replacement has resulted in an augmented number of adult populace undertaking early knee replacement surgeries. The increasing incidences of sports injuries are also a key factor for the growth of the market.
The high price of knee replacement surgery is acting as the main limitation in the countries facing financial decline for the previous couple of years.
Knee Braces Market Segment Analysis:
By Product, Functional segmented dominated the market with a 32% share in 2021. The effectiveness in providing stability in anteroposterior or rotational forces and wide acceptance are major key factors of the segment. The Rehabilitative segment is expected to grow at a CAGR of 5.2% through the forecast period. They are used for preventing dislocation of implant and healing of surrounding muscles.
By Application, the Arthritis segment dominated the market by 37 % in 2021. This segment is expected to grow significantly due to the growth in arthritis patients and the increasing adoption of knee support. The sports segment is expected to grow at a CAGR of 6 % through the forecast period. Increasing sports injuries and use in sporting activities, as well as rehab, will drive the demand and growth of this segment.
By Delivery Channel, hospitals/Clinics dominated the market by 42 % share in 2021. Majority of patients visiting for treatment and accidents or surgeries leading to a high rate of hospitalization. E-commerce is expected to grow at a CAGR of 5.7 %. Easy availability and affordable prices with reviews to find the best-fit braces according to the requirement will increase the demand in the market.
Knee Braces Market Regional Insights:
North American region dominated the market with a 38 % share in 2021. Availability of Insurance coverage, rising aged population, and growing of osteoarthritis in the US. The Asia-Pacific market is expected to grow at a CAGR of 5.8 % through the forecast period. The rising aging population, medical tourism due to cheaper procedural costs are factors contributing to the growth. Knee replacement surgeries in Thailand and Singapore may cost as low as two-third of the price in the U.S.
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Knee Braces Market Scope: Inquire before buying
| Global Knee Braces Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2021 | Forecast Period: | 2022-2029 |
| Historical Data: | 2017 to 2021 | Market Size in 2021: | US $ 1.85 Bn. |
| Forecast Period 2022 to 2029 CAGR: | 4.34% | Market Size in 2029: | US $ 2.61 Bn. |
| Segments Covered: | by Application | • Sports • Ligament • Arthritis • Others |
|
| by Delivery Channel | • Hospitals/Clinics • Retail • E-Commerce |
||
| by Product | • Prophylactic • Functional • Rehabilitative • Unloader |
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Knee Braces Market, by Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
Knee Braces Market Key Players
• Colfax Corporation (DJO Global, Inc.)
• 3M Company (3M Science)
• Orthofix Medical, Inc. (Breg, Inc.)
• Mueller Sports Medicine, Inc.
• McDavid, Inc. (EZ GARD Industries, Inc.)
• Bauerfeind AG
• Medi GmbH & Co. KG
• Otto Bock Healthcare GmbH
• Tynor Orthotics Private Limited
• Healthcare GmbH
• Ossur Corporate
• Zimmer Inc.
• Corin Group
• DePuy Synthes
• Johnson & Johnson Services Inc.
• B. Braun Melsungen AG
• DJO Global, Inc.
• Baumer Holding AG
• SurgTech Inc.
• Wright Medical Group N.V
Frequently Asked Questions:
1. Which region has the largest share in Global Knee Braces Market?
Ans: North American region holds the highest share in 2021.
2. What is the growth rate of Global Knee Braces Market?
Ans: The Global Knee Braces Market is growing at a CAGR of 4.34% during forecasting period 2022-2029.
3. What is scope of the Global Knee Braces market report?
Ans: Global Knee Braces Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Knee Braces market?
Ans: The important key players in the Global Knee Braces Market are – Colfax Corporation (DJO Global, Inc.), 3M Company (3M Science), Orthofix Medical, Inc. (Breg, Inc.), Mueller Sports Medicine, Inc., McDavid, Inc. (EZ GARD Industries, Inc.), Bauerfeind AG, Medi GmbH & Co. KG, Otto Bock Healthcare GmbH, Tynor Orthotics Private Limited, Healthcare GmbH, Ossur Corporate, Zimmer Inc., Corin Group, DePuy Synthes, Johnson & Johnson Services Inc., B. Braun Melsungen AG, DJO Global, Inc., Baumer Holding AG, SurgTech Inc., and Wright Medical Group N.V
5. What is the study period of this market?
Ans: The Global Knee Braces Market is studied from 2021 to 2029.