India Orthopedic Braces & Support, Casting & Splints Market Is Estimated To Witness High Growth Owing To the Increasing Incidence of Orthopedic Disorders

 

https://www.coherentmarketinsights.com/market-insight/india-orthopedic-braces-and-support-casting-and-splints-market-4349
India Orthopedic Braces & Support, Casting & Splints Marke



The global India Orthopedic Braces & Support, Casting & Splints Market is estimated to be valued at US$ 73.5 million in 2020 and is expected to exhibit a CAGR of 6.8% over the forecast period 2020-2027, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


Orthopedic braces, supports, castings, and splints are medical devices that are used to immobilize, support, and protect injured or weak body parts, especially the musculoskeletal system. These products play a crucial role in orthopedic treatment by providing stability, pain relief, and enhancing the healing process. The rising incidence of orthopedic disorders, such as fractures, sprains, strains, and osteoarthritis, is driving the demand for orthopedic braces and supports in the Indian market. Additionally, the growing geriatric population and increasing awareness about the benefits of orthopedic braces and supports are further contributing to market growth.

Market Key Trends:


One key trend observed in the India Orthopedic Braces & Support, Casting & Splints Market is the increasing adoption of advanced materials in the manufacturing of orthopedic braces and supports. Traditional braces were made of materials like metal, which were heavy, uncomfortable, and limited mobility. However, with advancements in technology, manufacturers are now using materials such as fiberglass, carbon fiber, and latex-free neoprene, which are lightweight, flexible, and offer a better fit. These advanced materials provide improved patient comfort, breathability, and ease of use. Moreover, these materials are durable and have a higher load-bearing capacity, ensuring superior support and protection for the injured or weak body parts. The adoption of advanced materials in orthopedic braces and supports is expected to drive market growth

PEST Analysis:

Political: The political factors influencing the orthopedic braces and support, casting, and splints market in India are relatively stable. The government's focus on promoting healthcare and improving access to medical facilities is expected to positively impact the market. Regulations and policies related to healthcare infrastructure, quality standards, and pricing may also influence the market dynamics.

Economic: The economic factors affecting the market include the growing healthcare expenditure in India and the increasing affordability of orthopedic braces and support. The rising disposable income and overall economic growth contribute to the market's expansion. Moreover, the market is also supported by the presence of health insurance policies and reimbursement schemes.

Social: Social factors play a crucial role in the adoption and growth of orthopedic braces and support. The aging population, the prevalence of orthopedic conditions, and changing lifestyles leading to a sedentary lifestyle have increased the demand for orthopedic solutions. Moreover, the awareness and acceptance of orthopedic braces and support have significantly improved, driving market growth.


Technological: Technological advancements, such as the development of lightweight and durable materials for orthopedic braces and support, have positively impacted the market. Innovative designs and features that enhance comfort and mobility have also contributed to market growth. The integration of smart technologies, such as sensors and connectivity, has further expanded the scope of orthopedic solutions.

Key Takeaways:

The global Orthopedic Braces And Support, Casting, And Splints Market in India is expected to witness high growth, exhibiting a CAGR of 6.8% over the forecast period. This growth is primarily attributed to the increasing prevalence of orthopedic conditions and the rising geriatric population. Furthermore, government initiatives to improve healthcare infrastructure and increasing disposable income contribute to market expansion.

Regionally, India is projected to be the fastest-growing and dominating region in the orthopedic braces and support market. The country's large population, increasing healthcare spending, and focus on improving medical facilities create a favorable market environment. Additionally, the presence of key players in the region further strengthens India's position in the market.

Key players operating in the India orthopedic braces and support, casting, and splints market include 3M, BSN medical, Zimmer Biomet Holdings, Inc., DJO, LLC, Össur Corporate, 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. These players have a significant presence in the market and contribute to its growth through product developments, collaborations, and strategic partnerships.

Tags : India Orthopedic Braces & Support, Casting & Splints Market, India Orthopedic Braces & Support, Casting & Splints Market Size, India Orthopedic Braces & Support, Casting & Splints Market Trends, India Orthopedic Braces & Support, Casting & Splints Market Growth.

Read More : https://www.newsstatix.com/india-orthopedic-braces-support-casting-splints-market-is-estimated-to-witness-high-growth-owing-to-rising-incidence-of-orthopedic-conditions-and-increasing-geriatric-population/

 

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