Europe Orthopedic Braces and Supports Market Identifies the Key Drivers of Growth and Challenges of the Key Industry Players by 2024

European Orthopedic Braces and Supports Market accounted for USD 1.0 billion in 2015 and is expected to reach USD 1.7 billion by 2022, growing at a CAGR of 7.3% during the forecast period of 2016 to 2022. The report includes the market value, volume and average selling price of orthopedic braces and supports market.

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The European orthopedic braces and supports market is segmented into type knee braces and supports, foot and ankle braces and supports, spinal orthoses, upper extremity braces and supports and Leg walkers, and by end-user hospitals, orthopedic clinics and others.

The knee braces and supports market is segmented into 4 product types knee support, knee braces for osteoarthritis, knee braces for ligament injury and post-operative knee braces. Knee support holds a lion’s share of 64.2% of the knee braces and supports market in 2015, accounting to USD 262.5 million in 2015 growing at a CAGR of 7.5% during the forecast period 2016 to 2022.

In 2015, Germany dominates the European market with a revenue share of 30.6% in 2015 growing at a highest CAGR of 7.8% in the forecast period. France is growing at a CAGR of 7.4% from 2016 to 2022.

Some of the major players

DJO Global, Ossur Corporate, Bauerfeind AG, Breg, Inc., BSN Medical GmbH, DeRoyal Industries, Inc., Otto Bock Healthcare GmbH, Alcare Company Ltd., Oppo Medical, Trulife among other vernacular players. Ossur Corporate dominates the European market with 19.1% market share.

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The European orthopedic braces and supports market is driven by the rising population of geriatric population globally. Some of the major healthcare condition driving this market is osteoarthritis, sports injuries, other traumatic wounds, orthopedic surgeries, obesity and osteoporosis. Manufacturers and suppliers developing and promoting braces and supports for prophylactic and performance-enhancing products are expected to fueling the market revenue. A new trend of increasing sales of orthopedic braces and supports via e-commerce is expected to become the biggest sales channel for these devices by 2025. Also stock and bill programs allow manufacturers to bill insurers directly another positive factor for this markets growth.

The increasing trend of lifestyle activities in the elderly populations has caused to a rising incidence of osteoarthritis and the increasing awareness of braces and supports will definitely create growth in this market more than what is expected. Also larger the customer base larger is the main focus of this market, the user pool is mostly of geriatric population but the spread into other age’s population is the new market goal.

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