by Rigid knee braces are orthopedic devices used to support, align and stabilize injured or weakened knees. They provide pain relief and prevent further damage to ligaments or cartilage by restricting knee movement. The growing number of knee injuries caused by sports activities and road accidents has increased the demand for rigid knee braces.
The global Rigid Knee Braces Market is estimated to be valued at US$ 991.4 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Rising prevalence of knee injuries due to increasing participation in sports and high-risk activities has boosted demand for rigid knee braces over the years. According to statistics, nearly 250,000 knee surgeries are performed annually in the U.S. alone due to injuries caused during sports or physical activities. Rigid knee braces are effective in preventing further damage to the knee by limiting its movement and supporting the joint during rehabilitation. Hence, growing numbers of knee problems are expected to drive the rigid knee braces market during the forecast period.
SWOT Analysis
Strength: Rigid knee braces provide stability and support to the knee joints. They help in pain management and facilitate faster recovery from injuries.
Weakness: Rigid knee braces can be uncomfortable to wear for long hours. They restrict the mobility and limit activities like running and jumping.
Opportunity: Rising geriatric population suffering from knee arthritis and injuries propels the demand for knee bracing and support products. Growing healthcare awareness and expenditures in developing countries offer growth prospects.
Threats: Availability of alternative treatment options like physical therapy and surgeries act as a threat. Increasing preference for over-the-counter braces and wraps also limits the sales of prescription rigid knee braces.
Key Takeaways
The global rigid knee braces market demand is expected to witness high growth over the forecast period of 2023 to 2030. The global Rigid Knee Braces Market is estimated to be valued at US$ 991.4 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030.
The North American region currently dominates the rigid knee braces market owing to the rising healthcare costs and increasing incidence of knee injuries among athletes and geriatric population in the US and Canada. Asia Pacific is expected to grow at the fastest pace during the forecast period supported by growing healthcare infrastructure and awareness in China, India and other developing Asian countries.
Key players
Key players operating in the rigid knee braces market are Mueller Sports Medicine, Inc., DJO Global, LLC, ACE Brand, Tynor Orthotics Private Limited, 3M Science, Mava Sports, Bauerfeind AG, Breg, Inc., Ossur, Thuasne USA, Zimmer Biomet, Kao Chen Enterprise Co., Ltd, Össur, Orthosys, Bauerfeind USA Inc., Orliman S.L.U., Steeper Inc., Beagle Orthopedic, Essity Medical Solutions, Bird & Cronin, LLC, Ottobock, Trulife, DeRoyal Industries, Inc., and Remington Medical Equipment.
These major players are focusing on new product launches, partnerships and geographical expansions to strengthen their market presence. For instance, Bauerfeind launched a new custom-fit knee brace, GenuTrain Generation 2.0 in 2021 to provide improved therapeutic options for knee pain conditions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
