Orthopedic Braces/Support, Casting/Splints Market to Top $12B by 2030

No bad breaks here: Solid growth is expected this decade for the global orthopedic braces and support, casting and splints market.

Coherent Market Insights estimates the market value at $7.39 billion in 2022 and projects it to grow 6.5% annually to reach $12.23 billion by 2030. A major growth factor is the rise in sports-related injuries. According to a 2021 study published by The Johns Hopkins University, about 30 million U.S. children and teenagers participate in some form of organized sports, and more than 3.5 million injuries occur annually. 
 
The increasing prevalence of orthopedic diseases and disorders is also expected to drive the market’s growth. World Health Organization data show that approximately 1.71 billion people have musculoskeletal conditions worldwide (as of July 14, 2022). Musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries. Musculoskeletal conditions significantly limit mobility and dexterity, leading to early retirement from work, lower levels of well-being and reduced ability to participate in society.
 
Bone-related problems will benefit the market as well. Roughly 1 million to 1.5 million vertebral compression fractures (VCF) occur each year in the United States, a December 2020 article (“Vertebral Compression Fractures,”) noted. Experts surmise that 25% of women 50 and older have at least one VCF. Furthermore, the lifetime risk of hip, forearm, and vertebral fractures is approaching clinical attention in around 40% of the world, which is comparable to the risk of cardiovascular disease.
 
Among type, the orthopedic braces and supports segment is estimated to hold a dominant position in the global orthopedic braces and support, casting and splints market over the forecast period due to the benefits offered by these products—medial and lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.
 
Among regions, North America is estimated to account for the largest market share over the forecast period.
 
Key market players 3M, Össur Corporate, BSN medical GmbH, DeRoyal Industries Inc., DJO Global Inc., Orfit Industries N.V., Spencer Italia S.r.l., Prime Medical Inc., Breg Inc., Stryker Corporation, and Zimmer Biomet Holdings Inc.