Global Knee Braces Market Is Estimated To Witness High Growth Owing To Rising Prevalence of Knee Injuries & Increasing

Poonam

Global Knee Braces Market Is Estimated To Witness High Growth Owing To Rising Prevalence of Knee Injuries & Increasing

The global Knee Braces market is estimated to be valued at US$ 1.85 billion in 2021 and is expected to exhibit a CAGR of 4.34% over the forecast period 2022-2029, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

The knee braces market includes various types of braces used for knee support and recovery from injuries. Knee braces are widely used in sports, rehabilitation centers, and for managing osteoarthritis and other knee conditions. The market offers a range of products, including soft braces, hinged braces, and prophylactic braces, among others. These braces provide stability, pain relief, and aid in the overall recovery process. They are designed to protect and support the knee joint during physical activities, reduce the risk of further damage, and promote healing.

B) Market Dynamics:

The knee braces market is driven by two primary factors: increasing prevalence of knee injuries and the growing adoption of sports activities. Knee injuries, such as ligament tears, sprains, and strains, are common among athletes and individuals engaged in physical activities. The rising participation in sports activities, especially among the younger population, has led to a higher demand for knee braces for injury prevention and rehabilitation purposes. Additionally, the aging population and the increasing prevalence of osteoarthritis contribute to the market growth, as knee braces are used for pain management and support in these conditions.

C) Market Key Trends:

One key trend in the Knee Braces Market is the advancement in technology, leading to the development of innovative braces. Manufacturers are incorporating features like adjustable straps, breathable materials, and lightweight designs to enhance user comfort and mobility while ensuring effective support. For example, companies have introduced smart knee braces equipped with sensors and digital interfaces to monitor knee movement, provide real-time feedback, and aid in rehabilitation.

D) SWOT Analysis:

Strengths:

1. Increasing demand for knee braces due to the rising prevalence of knee injuries.

2. Advancements in technology leading to innovative and user-friendly braces.

Weaknesses:

1. High cost associated with advanced knee braces.

2. Limited reimbursement coverage for knee braces in certain regions.

Opportunities:

1. Growing awareness about the benefits of knee braces among the general population.

2. Expansion of distribution networks in emerging markets.

Threats:

1. Availability of alternative treatment options for knee injuries.

2. Stringent regulatory requirements for product approval.

E) Key Takeaways:

1. The global knee braces market is expected to witness high growth, exhibiting a CAGR of 4.34% over the forecast period. This growth is primarily driven by the increasing prevalence of knee injuries and the growing adoption of sports activities.

2. Regionally, North America is expected to dominate the knee braces market due to the high incidence of knee injuries and a well-established healthcare infrastructure. However, Asia Pacific is projected to be the fastest-growing region, fueled by the increasing participation in sports activities and improving healthcare facilities.Key players operating in the global knee braces market include Colfax Corporation (DJO Global, Inc.), 3M Company (3M Science), 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, Ossur Corporate, Zimmer Inc., Corin Group, DePuy Synthes, Johnson & Johnson Services Inc., B. Braun Melsungen AG, Baumer Holding AG, SurgTech Inc., and Wright Medical Group N.V. These players focus on product innovation, strategic partnerships, and geographic expansion to maintain their market position.

The global knee braces market is poised for significant growth in the coming years. The rising prevalence of knee injuries and the increasing adoption of sports activities drive the demand for knee braces. Advancements in technology and innovative product offerings further contribute to market growth. However, challenges related to high costs and limited reimbursement coverage need to be addressed.

Poonam

Global Reprocessed Medical Devices Market Is Estimated To Witness High Growth Owing To Increasing Adoption of Sustainable and Cost-effective Healthcare Solutions

Pooja salve 2023-08-21

The global Reprocessed Medical Devices Market is estimated to be valued at US$3,091. A) Market Overview: Reprocessed medical devices are used medical devices that undergo an extensive cleaning, disinfection, testing, and refurbishment process to make them suitable for reuse. B) Market Key Trends: One of the key trends observed in the reprocessed medical devices market is the increasing adoption of sustainable and cost-effective healthcare solutions. C) PEST Analysis: Political: The regulatory landscape plays a crucial role in shaping the reprocessed medical devices market. In conclusion, the global reprocessed medical devices market is poised for significant growth due to the increasing adoption of sustainable and cost-effective healthcare solutions.

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AI Technologies are Fueling the Growth of the Portable Medical Devices Market

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The global Portable Medical Devices Market is estimated to be valued at US$ 75. Segment Analysis The global portable medical devices market is segmented based on product type and end use. Based on product type, the market is segmented into portable medical imaging devices, portable monitoring devices, portable home healthcare devices, and point-of-care testing devices. Key players operating in the portable medical devices market are Siemens Healthineers, Medtronic Inc. Key players are focused on launching innovative portable devices and expanding their product portfolio and geographical presence through mergers & acquisitions to strengthen their market position.

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The medical devices reimbursement market helps cover device costs and procedures through private and public insurance. The global Medical Devices Reimbursement Market is estimated to be valued at US$ 543. By expanding insurance coverage for innovative procedures and products, the reimbursement market encourages continued investment in lifesaving medical advancements. Segment AnalysisThe global medical devices reimbursement market can be segmented on the basis of service, device type, and end user. Key playersKey players operating in the medical devices reimbursement market are BNP Paribas, CVS Health, Aviva, Allianz, Humana, Cigna, Aetna, Wellcare Health Plans Inc.

Nitinol Medical Devices Market: Trends and Growth Prospects in 2023

Yashvi Gadhiya 2023-08-04

As of 2023, the Nitinol medical devices market is experiencing significant growth and emerging as a promising sector in the healthcare industry. One of the key trends driving the Nitinol medical devices market is the growing adoption of endovascular procedures. The global Nitinol Medical Devices Market was valued at US$ 36,417. However, the Nitinol medical devices market is not without challenges. The Nitinol medical devices market is witnessing remarkable growth and holds promising growth prospects in 2023 and beyond.

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