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| Global India Orthopedic Braces And Support Casting And Splints Market Size |
Orthopedic braces and supports, casting and splints are used for immobilizing
bone and soft tissue fractures as well as for support diseases like arthritis.
Braces and supports provide support to muscles and joints, prevent deformities
and offer pain relief. Rising prevalence of osteoporosis and orthopedic
diseases has increased the demand for orthopedic braces and supports, casting
and splints in India. The rising geriatric population, active lifestyles and
road accidents are major factors driving the high incidence of orthopedic
injuries in India.
The global
India Orthopedic Braces And Support Casting And Splints Market is estimated to
be valued at US$ 89.54 Mn in 2023
and is expected to exhibit a CAGR of 3.2%
over the forecast period 2023 to 2030, as highlighted in a new report
published by Coherent Market Insights.
Market key trends: The demand for orthopedic braces and supports, casting and
splints has been increasing in India due to rising incidence of osteoporosis.
Osteoporosis is a disease characterized by low bone mass and structural
deterioration of bone tissue, leading to bone fragility and an increased risk
of fractures. According to the International Osteoporosis Foundation, India has
the highest number of hip fractures due to osteoporosis in the world. It is
estimated that over 22 million people in India suffer from osteoporosis induced
bone disorders. Growing geriatric population prone to osteoporosis and
orthopedic conditions is a major driver for increasing adoption of orthopedic
braces and supports, casting and splints in India.
Segment Analysis
The India orthopedic braces and support casting and splints market is dominated
by the knee braces sub segment. Knee braces hold around 25% of the total market
share as knee injuries are common in contact sports and old age. Knee braces
provide support, compression and pain relief which drives their high demand.
Key Takeaways
Global
India Orthopedic Braces And Support Casting And Splints Market Size is
expected to witness high growth over the forecast period. Growing prevalence of
orthopedic diseases and injuries due to road accidents and trauma cases in the
country is driving the demand for orthopedic braces and casting & splinting
products. The global India Orthopedic Braces And Support Casting And Splints
Market is estimated to be valued at US$
89.54 Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023 to 2030.
Regional analysis
The Western region of India currently holds around 35% market share and is the
fastest growing regional market due to increasing aging population in states
like Maharashtra and Gujarat which report higher incidences of orthopedic
conditions. The southern states are dominated by Tamil Nadu and account for 30%
market share due presence of major players based out of Chennai and higher
awareness among patients.
Key players
Key players operating in the India orthopedic braces and support casting and
splints market includes 3M, BSN medical, Zimmer Biomet Holdings, Inc., DJO,
LLC, Stryker Corporation, Ottobock Holding GmbH & Co. KG, medi GmbH &
Co. KG, Remington Products Company, Becker Orthopedic, Prime Medical Inc.,Tynor
Orthotics Pvt Ltd., United Medicare, and Orthosys. 3M is a leading player due
to wide product portfolio and pan India presence via established distribution
network.
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