Saturday, 27 July 2024
According to our new research study on "US Orthotic Aids Market Forecast to 2028 – US Analysis – by Product Type, Application, Type of Supplier, and Distribution Channel," the orthotic aids market size was valued at US$ 1,494.55 million in 2022 and is projected to reach US$ 2,294.39 million by 2028. It is estimated to register a CAGR of 6.3% during 2022–2028.
The US orthotic aids market, by product type, is segmented into body belts, braces, and others. In 2022, the braces segment held the largest share, and it is expected to record the fastest CAGR during 2022–2028. Based on application, the orthotic aids market is classified into ligament injury repair, preventive care, osteoarthritis, compression therapy, and others. In 2022, the ligament injury repair segment held the largest market share. It is further expected to register the highest CAGR during 2022–2028. Based on the type of supplier, the orthotic aids market is segmented into branded and unbranded. In 2022, the branded segment held a larger market share. Further, the unbranded segment is expected to record a faster CAGR during 2022–2028. Based on distribution channel, the orthotic aids market is classified into online and offline. In 2022, the offline segment held a larger market share, and it is expected to record a higher CAGR during 2022–2028.
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The US orthopedic aids market is continuously developing at a substantial rate due to the burgeoning demand for orthotic aids from a large population, which also leads to an increase in new product developments and launches along with approvals. Orthotic aids market players invest in R&D activities to ensure the revolution and development of effective products. In February 2021, Breg Inc, a leading manufacturer of knee, hip, elbow, spine, foot, and ankle braces, announced the launch of Pinnacle and Ascend lines of spinal orthoses. With this product, Breg Inc. intended to elevate spinal care through more comfortable braces that encourage treatment adherence and promote healing. In May 2020, Össur, a developer and manufacturer of bracing, compression therapy, prosthetics, and other orthopedic products announced the launch of Unloader One X, the most recent model of its Unloader One knee braces. Thus, new product launches and approvals by key market players is likely drive the growth of market
Ossur hf, Ottobock SE & Co KGaA, Thuasne SAS, Fillauer LLC, Lohmann & Rauscher GmbH & Co KG, DeRoyal Industries Inc, Hanger Inc, Steeper Group Holdings Ltd, Breg Inc, and DJO LLC are among the leading companies operating in the US orthotic aids market.
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