by Orthopedic braces, casting and splints are medical aids used to support injured or weakened body parts like knees, ankles, wrists, and elbows. They help align, immobilize, support, prevent and correct deformities of the bones and joints. The growth in sports activities and injuries in India has increased the demand for orthopedic braces, casting and splints.
The global India Orthopedic Braces And Support Casting And Splints Market is estimated to be valued at US$ 450 million 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 increasing popularity of sports and outdoor recreational activities among Indians has led to a rise in orthopedic injuries such as fractures, sprains and strains. As per estimates, India saw over 5 million sports related injuries in 2021. This has propelled the demand for orthopedic braces, casting and splints for immobilizing and supporting injured body parts during recovery and rehabilitation. To address this growing demand, manufacturers are focusing on developing innovative products that provide better support, faster healing and allow patients to regain mobility quickly. They are also making significant investments in research to design braces and splints using advanced lightweight, breathable materials for enhanced comfort and performance. This trend of innovation and product development in the India orthopedic braces and splint market is expected to continue over the forecast period.
SWOT Analysis
Strength: The India orthopedic braces and support casting and splints market is served by several established domestic players. There is a large patient population that depends on orthopedic supports for bone injuries and other conditions.
Weakness: Low awareness about advanced orthopedic products in rural areas. Cost sensitivity remains high for orthopedic supports.
Opportunity: Growing geriatric population prone to orthopedic issues creates demand. Increasing incidence of lifestyle diseases and road accidents boost the market.
Threats: Threat from alternative treatment options and physiotherapy. Intense competition affects pricing and margins of players.
Key Takeaways
The Global India Orthopedic Braces And Support Casting And Splints Market Size is expected to witness high growth over the forecast period. The global India Orthopedic Braces And Support Casting And Splints Market is estimated to be valued at US$ 450 million in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023 to 2030.
The north and west regions of India currently dominate the market due to concentration of major players. Orthopedic clinics in Delhi, Mumbai and Pune generate significant demand for various bracing products.
Key players
Key players operating in the India orthopedic braces and support casting and splints market are Colfax, Prime Medical, Bird and Cronin, BSN Medical, AliMed, medi, and Corflex
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
