The latest market report published by Credence Research, Inc. “Ligament Stabilizers Market: Growth, Future Prospects, and Competitive Analysis, 2018 – 2026” the global ligament stabilizers market was valued at US$ 1,852.0 Mn in 2017 and expected to reach US$ 2,794.2 Mn by 2026 at a CAGR of 6.3% during the forecast period from 2018 to 2026.
The global ligament stabilizers market shows productive growth during the forecast period from 2018 to 2026. Ligament stabilizer types include knee braces & supports, foot and ankle braces & supports, spinal orthoses, shoulder braces & supports, wrist & hand braces & supports. Knee braces and supports holds major share in the ligament stabilizer market in 2018. Critical challenges faced by orthopedic surgeons in performing surgeries for repairing the damaged ligaments have led to the increasing adoption of knee braces & supports worldwide. The global ligament stabilizers market is mainly driven by the applications in preventive care, ligament injury, post-operative rehabilitation, osteoarthritis, and other applications (osteoporosis, Paget’s disease, and spinal degenerative conditions). Higher preference for soft orthopedic supports, shift towards use of custom-made products is generating maximum revenue share in the North America and Europe market.
Incidences of sports injuries, road accidents and bone related disorders in the elderly population will drive the demand globally. To increase economical edge, top players in the U.S. and Europe have focused on the exercise of product expansion, collaborations with orthopedic clinics and hospitals, and launch of new products. Growing utilization of braces & supports (knee, foot and ankle) can be attributed to favorable reimbursement scenario, rising number of sports injuries, injuries at workplace, growing prevalence of obesity and diabetes, and increasing number of orthopedic surgeries such as hip and knee replacement surgeries.
Key Market Movements:
- Globally, the ligament stabilizers market remains to exhibit a lucrative growth with a CAGR of 6.3% for the period from 2018 to 2026
- Based on the types, the knee supports and braces segment shows lucrative growth with increasing applications
- Availability of smart ankle foot orthosis braces & supports, smart spine braces and step smart braces in the distribution channel segment include some of the recently launched orthopedic devices, further spur revenue growth in the U.S market during the forecast period
- Increasing sales via retail pharmacies and online along with increasing healthcare spending in the developing nations will further assist the overall growth of the ligament stabilizers market globally
- Major players in this vertical are Otto Bock Healthcare GmbH, 3M Company, DePuySynthes Company, Ossur hf., DJO Global, Inc., Bauerfeind AG, DeRoyal Industries Incorporations, THUASNE SA, Breg, Inc., medi GmbH & Co. KG, BSN Medical GmbH, Adhenor, Huici Medical, Aspen, ORTEC, Rcai, Performance Health Neo G and others.