Knee Braces Market

SKU: DMMD1297 | Last Updated On: Oct 17 2022 | Available Formats

>Knee Braces Market is expected to reach a high CAGR 5% By 2029:

Knee Braces Market is segmented By Product Type (Prophylactic braces, Functional braces, Rehabilitative braces, Unloader/offloader braces), By Application (Knee ligament injury, Arthritis, Tendonitis, Athletic activity, Others), By End-User (Hospitals, Clinics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Knee Braces Market is expected to grow at a high CAGR 5% during the forecasting period (2022-2029).

Knee braces are used to prevent knee injury during sports activities and for the reduction of pain caused due to medical conditions such as osteoarthritis, tendonitis, and other injuries. Athletes, as well as patients suffering from arthritis and other knee injuries, adopt knee braces to get rid of the pain. Knee braces support knee joints to prevent injuries. These are used for fast recovery after surgery and rehabilitation of knee joints. Knee braces are made from different materials such as metal, plastic, straps, foam, and elastic materials. These braces are available in different sizes, designs, and colors.

Knee Braces Market

Metrics

Details

Market CAGR

5%

Segments Covered

By Product Type, By Application, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Market Dynamics:

The global knee braces market is growing due to increasing prevalence of osteoarthritis diseases, rising number of orthopedic knee surgeries, a growing number of injuries in athletics. Osteoarthritis (OA) is the most common joint disorder in the United States. Among adults 60 years of age or older the prevalence of symptomatic knee, OA is approximately 10% in men and 13% in women.

The prevalence of OA is increasing due to population ageing and an increase in related factors such as obesity. According to the United Nations, by 2050 people aged over 60 will account for more than 20% of the world’s population. Of that 20%, a conservative estimate of 15% will have symptomatic OA, and one-third of these people will be severely disabled. This concludes that by 2050, 130 million people will suffer from OA worldwide, of whom 40 million will be severely disabled by the disease.

The demand for knee braces is rapidly growing due to growing awareness towards preventive support systems during sports activities, rising number of accidents that lead to a high rate of knee injuries, and growing population which creates a high prevalence of arthritic patients. In addition, with ease of availability of products online is also driving the growth of the market during the forecast period.

However, the high cost of knee braces is retraining the growth of the market.

Market Segmentation:

The global knee brace market can be segmented by product type into prophylactic braces, functional braces, rehabilitative braces, and unloader braces. Among these, the functional braces accounted for the largest market share in 2018, due to increase in athletic injuries and a large number of patients suffering from arthritis and other ligament-related injuries. The enhanced knee stability and function offered by functional knee braces to people with anterior cruciate ligament (ACL) injuries is laos driving the growth of the functional knee braces market.

Based on application, the knee braces market can be segmented into knee ligament injury, arthritis, tendonitis, athletic activity, and others. The knee ligament injury segment is further categorized into medial collateral ligament (MCL), anterior cruciate ligament (ACL), and posterior cruciate ligament (PCL). Among these, arthritis and athletic activity dominated the knee brace market during the forecast period owing to increasing prevalence of arthritis globally and rising awareness about preventive support during high-risk sports activities such as basketball and football.

Geographical Analysis:

North America was dominating the Knee Braces market in 2018, and it is expected to remain dominant over the forecast period. Increasing prevalence of osteoarthritis, growing aging population, and rising awareness about knee braces for the treatment of arthritis and sports injuries are the major factors contributing to the market growth in North America. According to Centers for Disease Control and Prevention (CDC), around 30 million adults in the U.S. are affected with osteoarthritis in 2016, leading to high demand of knee braces for the treatment of the disease.

The Asia Pacific knee braces market is also estimated to grow at a significant CAGR during the forecast period due to rising incidence of arthritis and presence of a large population base. Developing countries such as China and India are emerging markets for knee braces due to improved healthcare infrastructure and growing awareness towards the treatment of diseases. In addition, availability of high-quality treatment and rise in the adoption of sports activities among the young population are driving the market growth in Asia Pacific.

Competitive Analysis:

Some of major players in the global Knee Braces market are Mueller Sports Medicine, Inc., DJO Global, LLC (Donjoy), ACE Brand, Tynor Orthotics Private Limited, 3M Science, Mava Sports, Bauerfeind AG, Breg, Inc., and Össur. The key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with an increased focus on R&D are other ways the leading players improve their market presence. For instance,

In January 2019, Leatt Corporation, a leading developer and marketer of protective equipment and ancillary products for a wide variety of sports, especially extreme high-velocity sports, launched a new Z-Frame knee brace. Engineered to help reduce knee forces, the Z-Frame limits knee injuries and is CE certified as both a medical and impact protection device.

Frequently Asked Questions

What is the Projected CAGR value of the Knee Braces Market?

Knee Braces Market is expected to grow at a CAGR of 5% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Knee Braces Market during 2022-2029.

Which is the fastest growing region in the Knee Braces Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

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