
The India orthopedic braces and support casting and splints market consists of products used for immobilization, support and pain management. Some key products include knee brace, ankle brace, back brace, wrist brace, casting tapes, casting splints, walking boots and knee immobilizers. These products provide stability, prevent further injury and aid faster recovery post injury or surgery. Factors such as rising geriatric population, increasing participation in sports activities, and rising prevalence of orthopedic diseases like arthritis are driving the demand for orthopedic braces and support casting and splints in India.
The Global India Orthopedic Braces And Support Casting And Splints Market is estimated to be valued at US$ 103.16 Mn in 2024 and is expected to exhibit a CAGR of 3.2% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the India orthopedic braces and support casting and splints are 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. The major players are focusing on developing innovative products and expanding their presence across India through strategic mergers and acquisitions.
The demand for orthopedic braces and support casting and splints is growing due to rising prevalence of orthopedic disorders, sports injuries and road accidents in India. As per a report by Indian Orthopedic Association, around 60 million people in India are living with some form of musculoskeletal disorder. Moreover, road accidents claim around 150,000 lives annually in India. This is generating significant demand for orthopedic immobilization devices.
Technological advancements are a key trend observed in the Indian orthopedic braces and support casting and splints market. Manufacturers are developing innovative smart braces that can provide real-time data on patient recovery and rehabilitation activities through mobile apps. 3D printing technologies are also being utilized for customized casting and bracing solutions to provide better fit and comfort.
Market trends
Increasing demand for modular bracing systems: There is a growing demand for modular bracing systems that allow adjustment and customization as per changing needs during treatment and recovery process.
Growing popularity of sports bracing: Continuous rise in participation of sports is fueling the uptake of specialized sports bracing and support products for injuries like ACL tears, MCL sprains etc.
Market Opportunities
Rising medical tourism: India is emerging as a top destination for medical tourism and orthopedic surgeries. This provides opportunities for increased sales of orthopedic bracing products.
Untapped rural markets: With increased health awareness initiatives, the rural orthopedic bracing market is expected to witness steady growth over the forecast period.
Impact of COVID-19 on India Orthopedic Braces And Support Casting And Splints Market
The COVID-19 pandemic impacted the growth of the India Orthopedic Braces And Support Casting And Splints Market Growth . During the initial phases of the pandemic, non-essential medical procedures were postponed to prioritize treatment of COVID-19 patients. This led to a decline in demand for orthopedic braces and casts. However, e-commerce platforms played a major role in ensuring availability of orthopedic products to patients through online channels. Post-pandemic, as restrictions are lifted and healthcare infrastructure stabilizes, the demand for orthopedic braces and casts is expected to rise again. Manufacturers have also strengthened their supply chains and online presence to cater to growing demands in the future. Adoption of teleconsultation and virtual care programs is likely to support continued growth of the market.
India Orthopedic Braces And Support Casting And Splints Market: Geographical regions with highest market concentration
In terms of value, Southern states such as Tamil Nadu, Karnataka and Kerala account for the largest share of the India orthopedic braces and support casting and splints market. This is attributed to higher healthcare expenditures, increasing burden of osteoarthritis and trauma cases, growing medical tourism and presence of major market players in these regions. North-eastern states are also emerging as high potential markets supported by government initiatives to improve access to orthopedic services.
India Orthopedic Braces And Support Casting And Splints Market: Fastest growing geographical region
The Western states of Maharashtra, Gujarat, Goa are poised to become the fastest growing regions for the India orthopedic braces and support casting and splints market over the forecast period from 2024 to 2030. This can be accredited to rapid economic development, expanding healthcare infrastructure, increasing purchasing power and growing medical device industry in these states. Rising investments by global orthopedic manufacturers to tap into opportunities will further drive market growth. Initiatives to strengthen primary healthcare networks will aid wider availability and adoption of orthopedic products.
Get more insights on India Orthopedic Braces And Support Casting And Splints Market