Global Orthopedic Braces & Support Market Growth Is Driven by Increasing Number of Orthopedic Knee Surgeries

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The growing demand for orthopedic support system can be attributed to a number of factors, such as the rising aging population, rising awareness about the orthopedic support systems among the people, and increasing cases of road accidents and sports injuries and co-morbid conditions leading to orthopedic disorders or diseases.

The global orthopedic braces & support market was valued at USD 3.2 Billion in 2014 and is expected to reach USD 4.3 Billion by 2020, at a CAGR of 5.0% from 2015 to 2020.

Key players :

Some of the major players in the orthopedic braces market include Bauerfeind AG (Germany) Breg, Inc. (U.S.) DeRoyal Industries, Inc. (U.S.), DJO Global (U.S.), Ossur (Iceland), Ottobock (Germany), and BSN Medical (Germany).

Geography:

The global orthopedic braces market has been categorized into major geographical regions, including Europe, North America, Asia, and Rest of the world. North America is the most dominant region in the global orthopedic braces market, and contributed a share of 47.4% in 2014; the market in this region was valued at USD 1.5 billion in the same year.

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Orthopedic braces and supports are devices that are used to support and strengthen muscles and joints. These are used in prophylaxis of injury and patient care settings, right from the emergency room through the hospitalization period to rehabilitation and after care. Ligament injuries are one of the most common injuries in any sport; thus, braces and support systems are used to treat knee & ankle sprains, torn knee ligaments, and so on.

Attractive Growth Opportunities in Orthopedic Software Market During 2012–2020

Factors Which Are Driving Orthopedic Software Market 

Growing aging population, upsurge in the number of orthopedic surgeries, and rising incidences of orthopedic problems such as arthritis and osteoporosis are some of the factors propelling the growth of this market. Rising incidences of lifestyle disorders like obesity is another factor leading to orthopedic problems among patients, which is further expected to aid the growth of this market.

The orthopedic software market is expected to grow at a CAGR of 5.1% from 2014 to 2020 to reach $308.5 million by 2020.

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Key players :

Materialise NV (Belgium), Merge Healthcare Inc. (U.S.), Brainlab AG (Germany), CureMD (U.S.), HealthFusion Inc. (U.S.), Medstrat, Inc. (U.S.), McKesson Corporation (U.S.), and Greenway Health (U.S.) are some of the leading players in this market.

Market Geography:

The North American market accounted for the largest share of the global market in 2014, followed by Europe, Asia-Pacific, and Rest of the World (RoW). This is mainly due to the relatively high penetration of orthopedic software in North America as compared to Europe, Asia-Pacific and RoW. However, Asia-Pacific region is expected to register highest growth during the forecast period owing to increasing acceptance of healthcare IT in this region. China and Japan are some of the countries that are expected to contribute to the growth of this region.

About Report :

The global market is broadly segmented into products, applications, and mode of delivery. By type of products, this market is mainly sub-segmented into pre-operative planning software, orthopedic EHR, practice management, orthopedic picture archiving and communication systems (PACS), and orthopedics revenue cycle management (RCM). The market by applications covers orthopedic surgeries, joint replacement, fracture and limb deformity management, and pediatric assessment; while the market by mode of delivery covers web-based, cloud based, and on premises systems.

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