Strategic Growth Initiatives in Orthopedic Bracing Market

Vantage Market Research

May 22, 2024

Enovis™ Corporation, a prominent player in medical technology, has unveiled a groundbreaking innovation through its subsidiary, DJO, LLC. The DonJoy® ROAM™ OA knee brace is a pioneering solution designed to address the needs of patients grappling with osteoarthritis or knee pain and instability. This innovation marks a significant stride in enhancing patient comfort and mobility in orthopedic care.

Simultaneously, OrthoPediatrics Corp. has embarked on a strategic expansion initiative with the acquisition of Boston Orthotics & Prosthetics, a venerable leader in pediatric orthotic management for over five decades. By incorporating cutting edge technology into its product line, OrthoPediatrics is demonstrating its commitment to the development of paediatric orthopedics. In addition, recent funding from MidCap Financial of up to a million dollars in debt and the infusion of additional capital has strengthened OrthoPediatrics' finances so that it can continue its expansion.

Boston Orthotics & Prosthetics has a great deal of expertise when it comes to developing custom orthotics for children with conditions such as scoliosis, plagiocephaly and motor neuron disorders. Renowned for its innovative products like the Boston Brace for Scoliosis and Dynamic Movement Orthoses, Boston O&P has established itself as a pioneer in individualized orthopedic care. With an estimated annual revenue of million, the integration of Boston O&P into OrthoPediatrics' Specialty Bracing division is poised to strengthen the company's foothold in the lucrative U.S. pediatric orthopedic specialty bracing market.

The global Orthopedic Braces and Supports market is experiencing significant growth, with a projected Compound Annual Growth Rate (CAGR) of 6.31% and an estimated value of USD 6.72 Billion by 2032. This growth trajectory underscores the rising demand for innovative orthopedic solutions tailored to specific conditions and patient needs. With a view to expanding their market presence and product portfolios, key players in the industry are intensifying R&D efforts towards developing cutting edge products while also looking for acquisition opportunities.

Finally, the orthopedic bracing and support sector has been marked by impressive advances due to innovation and cooperation. Enovis™ Corporation, DJO, LLC, OrthoPediatrics Corp., and Boston Orthotics & Prosthetics are at the forefront of these developments, reshaping the landscape of orthopedic care with their visionary initiatives and state-of-the-art solutions.

Orthopedic Braces and Supports Market Size, Share & Trends Analysis Report by Product (Knee Braces and Supports, Ankle Braces and Supports, Foot Walkers and Orthoses, Hip, Back, And Spine Braces and Supports, Shoulder Braces and Supports, Elbow Braces and Supports, Hand & Wrist Braces and Supports, Facial Braces and Supports) by Type (Soft & Elastic Braces and Supports, Hard Braces and Supports, Hinged Braces and Supports) by Application (Subcutaneous, Intramuscular, Preventive Care, Ligament Injury, Post-operative Rehabilitation, Osteoarthritis, Compression Therapy, Other) by End-User (Orthopedic Clinics, Over the Counter (OTC), Hospitals, DME Dealers, Others) by Region (North America, Europe, Asia Pacific, Latin America, The Middle-East and Africa) - Global Industry Assessment (2018 - 2023) & Forecast (2024 - 2032)