A large number of tier-I, II, and III companies are operational in the global orthopedic braces & supports market. The competitive landscape includes in-depth market share analysis along with the key business strengths of leading players in the global orthopedic braces & supports market.
DJO, LLC (U.S.) is expected to dominate the orthopedic braces & supports market
The global orthopedic braces & supports market was valued at $3.2 billion in 2014. The key strategies adopted by the major players include new product development, merger & acquisition, and agreement.
Major players operating in the global orthopedic braces & supports market include Bauerfeind AG (Germany) Breg, Inc. (U.S.) DeRoyal Industries, Inc. (U.S.), DJO, LLC (U.S.), Ossur (Iceland), Ottobock (Germany), and BSN Medical (Germany).
In 2014, DJO, LLC (U.S.) accounted for the largest share of 20.1% of the orthopedic braces & supports systems market. DJO, LLC’s diversified portfolio of orthopedic braces & supports and a strong geographic presence (particularly in North America) enabled it to generate high revenues.
January 2014, DJO, LLC a global provider of medical device solutions for musculoskeletal health, vascular health, and pain management, launched new splinting and a spinal bracing product line that utilizes the patented Exos thermoformable technology. The introduction of Exos Rapid Splint System and Exos FORM Spine Bracing System expanded the existing Exos portfolio of innovative products designed to transform the clinical approach to external musculoskeletal support and steadiness. Furthermore, in July 2012, the company announced the launch of OA Nano, which is the world’s lightest off-loading knee brace weighing 14.2 ounces for patients with mild-to-moderate osteoarthritis. The product is clinically proven to reduce pain and increase the stability of the knee. Furthermore, in September 2011, DJO LLC signed an exclusive distribution agreement with Exos Corporation that provides DJO the exclusive rights to sell a broad range of upper extremity products of Exos. Exos’s unique technology would enable DJO to market its next generation of upper extremity bracing and supports products, while providing its customers with a remarkable range of future opportunities.
Ossur CONTRIBUTED THE SECOND-LARGEST SHARE TO THE global orthopedic braces & supports market.
In August 2013, the global prosthetics and orthopedic innovator Ossur launched SmartMeasureTM, an interactive, photo-based app, which can help clinicians to easily measure and submit precise specifications for patients needing custom knee braces. The SmartMeasure Digital Measuring System intends to make custom brace measuring and ordering more intuitive, efficient, and accurate, with pre-established data fields that ensure critical metrics are recorded. This will in turn increase company’s customer base.
Ottobock CONTRIBUTED THE THIRD-LARGEST SHARE in THE global orthopedic braces & supports market, Due to its strong geographic presence in APAC.
In November 2014 Ottobock announced the launch of the new 3R60=VC Vacuum Knee Joint. This launch will help the company to strengthen its customer base and customer satisfaction. In September 2014, the company announced the launch of Genium Bionic Prosthetic System in the U.S. and Canada. The cover’s shin component is combined with an innovative foot shell and works to protect against potentially damaging impact, environmental influences, and wear. The natural shape fills out clothing and provides visual balance to the sound limb and robust design works to reduce impact from jolts. This launch strengthened the company’s product portfolio and helped widen its customer base.
This report covers definition, description, and forecast for the global orthopedic braces & support systems market. It involves detailed analysis of the market segmentation, which comprises product and end user. The report also provides the strategic analysis of the key players in this market. Based on type, the global orthopedic braces & support system market has been segmented into knee braces & support, foot and ankle braces & support, spinal orthoses, and upper extremity braces & supports. Based on end user, the market has been segmented into hospital, orthopedic clinics, over the counter, and others. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific, and RoW.