Orthotic Aids Size and Forecast (2020–2030), and Global and Regional Share, Trend, and Growth Opportunity Analysis
The orthotic aids market size is projected to grow from US$ 4,021.94 million in 2022 and is projected to reach US$ 7,282.00 million by 2030; the market is estimated to register a CAGR of 7.7% during 2022–2030. Key factors driving the orthotic aids market include the increasing prevalence of orthopedic conditions among people of different age groups. Additionally, the rising number of strategic collaborations and product launches by market players is expected to contribute to the proliferation of orthotic aids in the future.
Coverage: Product Type [Braces (Knee Braces, Foot Support & Braces, Elbow Support & Braces, Neck & Cervical Braces, and Others), Body Belts, and Others (Cast Covers, Pouch Arm Sling, and Cast Shoes)], Application (Ligament Injury Repair, Preventive Care, Osteoarthritis, Compression Therapy, and Others), Distribution Channel (Online and Offline), Supplier Type (Branded and Unbranded), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
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Government Initiatives to Increase Awareness About Orthopedic Diseases Creates Opportunity for Orthotic Aids Market Growth
Numerous illnesses impacting the musculoskeletal system of the body necessitate medical attention. Rheumatoid arthritis, Osteoarthritis, and arthritis are a few examples of orthopedic diseases frequently affecting people. The governments in developed and developing countries are taking steps to raise awareness of orthopedic diseases and to increase people’s access to orthopedic products. In response to the increasing burden of Osteoarthritis, the Centers for Disease Control and Prevention funded the Osteoarthritis Action Alliance (OAAA). The OAAA promotes actions to prevent and control OA and its progression through tried-and-true interventions, public policies, communication strategies, and improved research initiatives for Osteoarthritis. During National Arthritis Awareness Month, the Arthritis Foundation runs an awareness campaign to raise awareness of arthritis. The Arthritis Foundation hosts various awareness events as part of the 2023 campaign. With these activities, the Arthritis Foundation mainly focuses on raising money and awareness among the masses.
Additionally, In August 2023, Indian Orthopaedic Association, in collaboration with Kadambini Orthopaedic and Spine Trust (KOST-KCT), recently organized a special event as part of the annual National Bone and Joint Day celebration in India. Thus, governments’ initiatives to nurture awareness of orthopedic diseases among people drive the adoption of orthopedic aids.
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