Report Ocean recently released a research report on the Knee Braces Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global knee braces market size was US$ 1.8 billion in 2021. The global knee braces market size is forecast to reach the value of US$ 3 billion by 2030 by growing at a compound annual growth rate (CAGR) of ~5.9% during the forecast period from 2022 to 2030.
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Factors Influencing
- The growing cases of orthopedic knee disease is the primary factor driving the growth of the global knee braces market. Moreover, the global knee braces market is forecast to grow rapidly due to the growing sports-related injuries.
- The increasing number of road accidents and knee injuries are forecast to propel the growth of the market.
- The increasing rate of the geriatric population is another factor driving the demand for knee braces. Moreover, benefits like product affordability and efficiency are forecast to fuel the market growth.
- Increasing healthcare expenditure and spending by private companies would act as a beneficial factor for the market growth.
- The growing inclination towards pain medication may hamper the growth of the global knee braces market. In addition, online promotions leading to growing public awareness would benefit the market players in the global knee braces market.
Geographic Analysis
Regionally, North America is forecast to emerge as the highest shareholder in the global knee braces market. The growth of the region is projected to be mainly because of the increasing prevalence of orthopedic knee disorder, growing sports events, and increasing geriatric population. Furthermore, government initiatives and rising healthcare expenditure would significantly fuel the market growth during the study period.
The Asia-Pacific region is forecast to contribute significantly to the global knee braces market. The Asia-Pacific market would grow mainly due to the increasing geriatric population and growing cases of orthopedic knee disorders. Apart from that, increasing healthcare expenditure and favorable government initiatives would act as a profitable opportunity for the market players.
COVID-19 Impact Analysis
The COVID-19 pandemic had a negative impact on the global knee braces market, majorly due to the unavailability of raw materials and laborers. Due to lockdown and travel restrictions, companies witnessed several challenges in the continuation of manufacturing, production, and trade activities. Moreover, sports activities and road accidents declined abruptly, which ultimately declined the demand for knee braces.
Moreover, it was necessary for the population to protect themselves and avoid visiting hospitals and other places. Healthcare providers also postponed the surgeries, which ultimately hampered the growth of the global knee braces market.
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Competitors in the Market
- Breg, Inc.
- 3M Co
- Mueller Sports Medicine Inc.
- REH4MAT Slawomir Wronski
- Leatt Corporation
- DeRoyal Industries Inc.
- Orthofix Holdings Inc.
- Medi GmbH & Co. KG.
- Other prominent players
Market Segmentation
Insight by Type
- Functional Knee Braces
- Prophylactic Knee Braces
- Unloader Knee Braces
- Rehabilitative Knee Braces
Insight by Application
- Ligament Injury
- Preventive Care
- Post-Operative Rehabilitation
- Osteoarthritis
- Compression Therapy
Insight by End User
- Hospitals
- Surgical Centers
- Orthopedic Clinics
- Others
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Insight by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Knee Braces Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Knee Braces market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Knee Braces Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Knee Braces market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Knee Braces market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Knee Braces market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Knee Braces market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Knee Braces business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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