This research report titled ‘Global Back Support Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Braces and back support are used to provide relief to individuals with musculoskeletal disorders, especially in the older and middle-aged population. They are also gaining popularity among athletes where majority of injuries are related to lower-back or the spine. To keep up with the evolving needs of the customers, vendors are offering products with ergonomic designs that are made of comfortable and breathable materials.
“Impacto, one of the key emerging vendors in the market space, has patented the air bladder technology. This technology utilizes inflatable air technology with multi-celled chambers to provide relief from back pain. The inner lining and nylon outer cover are helpful in absorbing moisture. Other key emerging vendors like Advanced Orthopaedics and Breg are also involved in innovation of new, advanced products,” says Abhay Sinha, one of the lead market research analysts at Technavio.
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Based on end-user segments, the report categorizes the global back support market into the following segments:
- Orthopedic clinics
Orthopedic clinics in APAC are the biggest revenue generators for the back support market. This is mainly due to the innovative designs in orthosis products and clinics. The most innovative development in the market is the usage of three-dimensional, or 3D printing for printing back supports or braces, smart implants, robotics, and nanotechnology. Due to these developments, the orthopedic clinics segment is likely to grow.
Additionally, consumers prefer orthopedic clinics due to improved economic growth and increasing awareness about health and wellness. These clinics rely on third-party manufacturers, which are often scrutinized by agencies such as the US Food and Drug Administration and British Standards Institution to ensure the safety standards demanded. In North America, the US will register the highest growth for orthopedic devices in the forecast period.
Individuals aged above 40 are the main demographic driving the demand for orthosis products such as back support and braces from the hospitals segment. The high demand for and reliable and accessible healthcare systems will drive vendors to improve their manufacturing standards to cater to these demands. The healthcare sector is witnessing growth in emerging markets in the form of infrastructure improvements, rising prevalence of chronic diseases, and technological advances.
“Global healthcare spending is estimated to grow at a rate of 6% during the forecast period. In APAC, India will lead the market, followed by China. The healthcare sector in the Middle East and Africa are also expected to witness rapid growth. These factors will contribute to the overall demand for the orthosis products such as supports and braces from the end-users such as hospitals and wellness units,” says Abhay.
Over-the-counter (OTC) back support market segment will be the fastest growing segment in the forecast period. This is driven by individuals who prefer self-diagnosis and self-treatments for their back problems. OTC also provides a more affordable alternative for patients who cannot afford expensive custom-made orthosis products.
Geographically, the back support market in APAC by OTC end-use has been witnessing high growth levels due to the increasing resources for self-medication and self-diagnosis. Countries like China, South Korea, India, Indonesia, and Australia have been witnessing CAGR of nearly at 22% in the 2015-2016 period. In the Americas, the sales of OTC products are growing due to the growing older population, which is the leading consumer segment, thus driving market growth.
The top vendors highlighted by Technavio’s research analysts in this report are:
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