The Global Knee Braces Market size is expected to reach $1.9 billion by 2025, rising at a market growth of 4.25% CAGR during the forecast period
NEW YORK, Feb. 13, 2020 /PRNewswire/ -- The Global Knee Braces Market size is expected to reach $1.9 billion by 2025, rising at a market growth of 4.25% CAGR during the forecast period. Knee braces are medical supports used to prohibit knee injury during sports activities and to reduce pain because of medical conditions like tendonitis, osteoarthritis, and other injuries. Athletes or any patients suffering from arthritis as well as other knee injuries, use knee braces to get rid of the pain. Knee braces support the joints of the knee to prevent injuries. These are used for rapid recovery after surgery and for knee joint therapy. Knee braces are made from a combination of plastic, metal, straps, foam, and elastic materials. These braces are available in different sizes, designs, and colors.
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Osteoarthritis is a gradual, progressive degenerative disease. In the younger generation, this condition is generally the result of a previous knee injury. However, in the older population, the predisposing factors may be repetitive knee strain; fractures; meniscal injuries that may affect alignment and cause wear and tear; recurrent patellar dislocation and patella fracture; trauma; hypermobility due to ligament laxity or injury; and genetics.
According to the World Health Organization, more than 20% of the world's population over 60 years of age, accounting for around 130 million people, will suffer from osteoarthritis by 2050. The health and wider social costs of musculoskeletal conditions are substantial. Expenditure on musculoskeletal conditions is difficult to measure due to a wide range of musculoskeletal conditions and limits in health surveillance systems. Orthopedic surgical procedures, such as complete joint replacement, account for one of the highest hospital costs. Such estimates suggest a significant boost to the global market for knee braces over the forecast period.
Based on Application, the market is segmented into Arthritis, Sports, Ligament and Other Applications. Based on Product, the market is segmented into Functional, Unloader, Prophylactic and Rehabilitative. Based on Delivery Channel, the market is segmented into E-commerce, Hospitals/ Orthopedic Clinics and Retail. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Product launches. Based on the Analysis presented in the Cardinal matrix, 3M Company is the major forerunners in the Knee Braces Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Colfax Corporation (DJO Global, Inc.), 3M Company (3M Science), Ossur Hf., Orthofix Medical, Inc. (Breg, Inc.), Mueller Sports Medicine, Inc., McDavid, Inc. (EZ GARD Industries, Inc.), Bauerfeind AG, Medi GmbH & Co. KG, Otto Bock Healthcare GmbH, and Tynor Orthotics Private Limited.
Recent strategies deployed in Knee Braces Market
Partnerships, Collaborations, and Agreements:
Dec-2018: Bauerfeind, a world leader in progressive sports and medical knee supports, announced a multi-year partnership with the National Basketball Association (NBA). Under the partnership, both the companies intend to make the GenuTrain NBA of Bauerfeind an officially licensed league knee support.
Mar-2017: DonJoy, a brand of DJO Global came into partnership with D1 Sports Training, a premiere athletic-based training brand in the country. Through this partnership, DonJoy Performance would become the official bracing and supports company of D1 Sports Training.
Acquisition and Mergers:
Oct-2019: 3M completed the acquisition of Acelity, Inc. and its KCI subsidiaries worldwide. The acquisition helped the former company in expanding its solutions in advanced wound care.
Product Launches and Product Expansions:
Nov-2019: Otto Bock Healthcare launched Agilium® Vantage, a low-profile, wraparound knee brace. This brace is designed for providing lasting pain relief for patients with mild unicompartmental osteoarthritis (OA).
Feb-2019: Breg, a subsidiary of Orthofix unveiled Breg Quantum(TM) OA, its next-generation unloader knee brace for mild to severe osteoarthritis. This brace addresses the needs of orthopedic practitioners who are looking for pain-relieving osteoarthritis brace that their patients will wear.
Jun-2018: Ossur introduced Össur Formfit® Pro line of 3D compressive knit solutions. This line provides knit solutions for ankle, wrist, knee, elbow, etc. The Pro line was designed for people suffering from different types of musculoskeletal ailments and conditions.
Mar-2018: DonJoy, a brand of DJO Global launched X4 Smart Brace, its first knee brace for total knee arthroplasty. The brace monitors patient compliance and recovery in real-time. X4 Smart Brace, which is integrated with motion intelligence, is a cloud-based system.
Mar-2018: Ossur announced the launch of the Rebound Post-Op Knee brace. The brace features ergonomic paddles and contouring struts that promote comfort for patients and it is 30% lighter than other braces.
Scope of the Study
Market Segmentation:
By Application
-- Arthritis
-- Sports
-- Ligament
-- Other Applications
By Product
-- Functional
-- Unloader
-- Prophylactic
-- Rehabilitative
By Delivery Channel
-- E-commerce
-- Hospitals/ Orthopedic Clinics
-- Retail
By Geography
-- North America
o US
o Canada
o Mexico
o Rest of North America
-- Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
-- Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
-- LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
-- Colfax Corporation (DJO Global, Inc.)
-- 3M Company (3M Science)
-- Ossur Hf.
-- Orthofix Medical, Inc. (Breg, Inc.)
-- Mueller Sports Medicine, Inc.
-- McDavid, Inc. (EZ GARD Industries, Inc.)
-- Bauerfeind AG
-- Medi GmbH & Co. KG
-- Otto Bock Healthcare GmbH
-- Tynor Orthotics Private Limited
Unique Offerings
-- Exhaustive coverage
-- Highest number of market tables and figures
-- Subscription based model available
-- Guaranteed best price
-- Assured post sales research support with 10% customization free
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