Rigid knee braces are essential orthopedic devices used to support, align and stabilize the knee joints. They provide comfort, relieve pain and help improve mobility in individuals suffering from knee injuries, arthritis and other medical conditions affecting knee functionality. The rigid knee braces are made from lightweight, durable materials that effectively limit joint movement and distribute stress appropriately.
The global Rigid Knee Braces Market is estimated to be valued at US$ 1142.1 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of osteoarthritis, a degenerative joint disease, is a key factor driving the growth of the rigid knee braces market. According to estimates, over 30 million Americans suffer from osteoarthritis, with rates expected to increase due to risk factors like obesity and aging population. As rigid knee braces are effective non-surgical options for arthritis pain management and improvement of joint mobility, their demand is rising significantly among individuals looking for alternatives to invasive procedures like knee replacements. The growing awareness about benefits of knee braces in osteoarthritis treatment is expected to propel the rigid knee braces market during the forecast period.
SWOT Analysis
Strength: The rigid knee braces market is witnessing high demand for osteoarthritis and ligament injuries treatment. These braces provide stability and support to the knee joint.
Weakness: High costs associated with customized and advanced rigid knee braces limit their adoption. Availability of alternative treatment options also impact market growth.
Opportunity: Growing geriatric population suffering from knee disorders present lucrative growth opportunities. Increasing sports and outdoor activities further drive the need for rigid knee braces.
Threats: Presence of local manufacturers providing low cost substitutes pose challenge to established brands. Stringent regulatory approvals for new product launches can also restrict market expansion.
Key Takeaways
The Global Rigid Knee Braces Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Rigid Knee Braces Market is estimated to be valued at US$ 1142.1 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024 to 2031.
The North America region currently dominates the rigid knee braces market owing to rising orthopedic conditions, growing health awareness and availability of advanced treatment options. Europe and Asia Pacific regions also offer sizable growth opportunities led by increasing geriatric population, lifestyle diseases and focus on preventive healthcare in countries like China and India.
Key players operating in the rigid knee braces market are Mueller Sports Medicine, Inc., DJO Global, LLC, ACE Brand, Tynor Orthotics Private Limited, 3M Science, Mava Sports, Bauerfeind AG, Breg, Inc., Ossur, Thuasne USA, Zimmer Biomet, Kao Chen Enterprise Co., Ltd, Össur, Orthosys, Bauerfeind USA Inc., Orliman S.L.U., Steeper Inc., Beagle Orthopedic, Essity Medical Solutions, Bird & Cronin, LLC, Ottobock, Trulife, DeRoyal Industries, Inc., and Remington Medical Equipment. Major players focus on new product launches, geographic expansion and mergers & acquisitions to maintain leadership positions in the high growth rigid knee braces market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it