Knee Braces Market Regional Analysis And Forecast To 2026

Posted by Neha Bora on March 16th, 2020

The Report Knee Braces Market Size, Share & Trends Analysis Report By Product (Prophylactic, Functional), By Application (Sports, Arthritis), By Delivery Channel (Hospitals, E-Commerce), And Segment Forecasts, 2019 – 2026

The global knee braces market size is anticipated to reach USD 2.1 billion by 2026, according to a new report by Grand View Research, Inc. It is expected to expand at a 4.3% CAGR during the forecast period. Rising prevalence of osteoarthritis and number of sports-related injuries are the key growth boosters for this market. The increasing burden of obesity is also anticipated to encourage youth to engage sports activities. Easy availability of braces through online stores is projected to further drive the product demand. This helps overcome the geographical barrier and facilitates easy product access.

Rising geriatric population plays a significant role in the market growth. According to the Department of Economic and Social Affairs Population Division, the global share of people aging 60 years and above has grown from 9.2% in 1990 to 11.7% in 2013, and this share is expected to rise to 21.1% by 2050. In 2017, the American Joint Replacement Registry released its Annual Report on the data related to knee arthroplasty that indicated a 101% rise in the procedures from the data collected for a period 2012 to 2016.The use of braces is mandatory after knee replacement surgeries to minimize the pain and to support the joints. Hence, these chronic diseases and associated surgeries create huge demand, thereby driving the growth of the overall market.

Further key findings from the report suggest:

• Functional braces is the fastest growing segment of the knee braces market, owing to the rise in sports-related injuries and the wide acceptance of these braces
• Arthritis led the application segment in 2018 and is expected to register a CAGR of 4.3% by 2026. The growth can be attributed to the rising prevalence of osteoarthritis and other joint-related diseases. Moreover, novel products such as unloader braces is anticipated to have wider application and acceptance thereby positively influence the market
• E-commerce delivery channel segment is expected to showcase lucrative growth over the forecast period, due to huge product availability and rapid product delivery
• North America held the largest revenue share in 2018, due to easy product availability online at a discounted rate. Asia Pacific is expected to emerge as the fastest growing regional market over the forecast period
• Some of the major market players include Breg Inc.; Ossur; Otto Bock; Clofex Corporation; McDavid; Tyron; and Mava Sports

Access Research Report of Knee Braces Market @ https://www.grandviewresearch.com/industry-analysis/knee-braces-market