Knee Braces Market Size, Share, Competitive Landscape, and Trend Analysis Report by Product, Application, Delivery Channel, and Region: Global Opportunity Analysis and Industry Forecast, 2024-2032

The knee braces market was valued at $1.90 billion in 2023 and is estimated to reach $3.06 billion by 2033, exhibiting a CAGR of 5.3% from 2024 to 2032.

Market Definition and Overview

A knee brace is a device used to support and stabilize the knee joint. They are typically worn around the knee and can help manage pain, prevent injury, or aid in the recovery process following an injury. Knee braces come in various types and designs, each tailored for specific purposes.

Prophylactic braces are designed to prevent knee injuries, particularly in sports activities. They are commonly used by athletes to protect the knee from lateral (side) impacts. Functional braces used after an injury has occurred, functional braces provide support and stability to the knee, helping individuals return to their daily activities or sports while minimizing the risk of further injury. Rehabilitative braces are used post-surgery or after serious knee injuries to limit harmful knee movement while the knee is healing. They often have adjustable hinges to control the range of motion. Unloader/offloader braces are typically used by people with arthritis since these braces shift weight away from the affected part of the knee, reducing pain and discomfort. Compression sleeves provide mild support and are often used to manage swelling and minor pain associated with activities or chronic conditions.

Key Takeaways

• The knee braces market study covers 20 countries. The research includes a segment analysis of each country in terms of value ($billion) for the projected period 2024-2033.
• More than 1,500 product literatures, industry releases, annual reports, and other such documents of major energy storage system industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
• The study integrates high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach intends to provide a balanced view of global markets and assist stakeholders in making informed decisions in order to achieve their most ambitious growth objectives.

Industry Trends

• Key market players are adopting strategies such as product launches to drive market growth. For example, on October 28, 2022, Vissco, a manufacturer of orthopedic and mobility products, launched its one-stop online platform for health and well-being, Vissco Next. This platform is supported by the latest technology and robust research and development.
• A report by the Centers for Disease Control and Prevention (CDC) indicates that 27.7% of adults with arthritis are also obese. Additionally, 33.7% of adults with arthritis have diabetes, and 36.4% have heart problems. Arthritis is more common in women than in men. To meet the specific needs of arthritis patients, market players offer customized braces. With the rise in lifestyle disorders, the market is expected to experience significant growth in the near future.

Key Market Dynamics

The knee braces market is experiencing significant growth primarily due to the rising incidence of knee injuries and disorders. As more people engage in sports and physical activities, the number of knee injuries, such as ligament tears and meniscus damage, has risen, leading to higher demand for knee braces for both prevention and recovery. Osteoarthritis, a degenerative joint disease, is becoming more common, especially among the aging population. Knee braces provide pain relief and support, helping manage the condition and improve the quality of life for patients. The global increase in the elderly population, who are more susceptible to knee disorders due to wear and tear of the joint, drives the need for supportive knee braces to maintain mobility and independence. All these factors are anticipated to drive the market growth.

The knee braces market faces significant challenges due to inadequate insurance coverage and reimbursement policies. Without adequate insurance coverage, patients often have to bear the full cost of knee braces, which can be quite expensive, especially for high-quality or advanced models. This financial burden can deter many from purchasing knee braces. Patients with insufficient insurance coverage might opt for cheaper, less effective braces or forego them altogether, leading to suboptimal treatment outcomes and potentially worsening their condition.

The knee braces market is experiencing robust growth driven by increasing demand for customization and personalization. Custom-made knee braces offer a tailored fit that enhances comfort and effectiveness. Personalized braces can accommodate unique anatomical differences and specific needs, leading to better patient satisfaction and compliance. Personalized knee braces can address individual patient conditions more effectively than standard braces. By providing targeted support and stabilization, they help improve clinical outcomes for various knee issues, including arthritis, ligament injuries, and post-surgical rehabilitation.

Patent Analysis of Global Knee Braces Market

A patent titled "Knee Joint Orthopedic Brace" was published by the Chinese office on January 5, 2024, with the applicants being the National Research Center for Rehabilitation Technical Aids. This invention pertains to the field of orthopedic braces and specifically addresses a knee joint orthopedic brace featuring a mounting plate, two leg supporting mechanisms, and traction tightening mechanisms. The brace allows for controlled intervals of leg relaxation to prevent long-term compression issues, incorporating features for air draft dehumidification and muscle massage. This design mitigates skin allergies, infections, and muscle atrophy associated with prolonged use, ensuring both patient comfort and safety during use.

Market Segmentation

The knee braces market is segmented into product, application, delivery channel, and region. On the basis of product, the market is divided into prophylactic, functional, rehabilitative, and unloader. As per application, the market is segregated into sports, ligament, arthritis, and others. On the basis of delivery channel, the market is segmented into hospitals/orthopedic clinics, retail, and e-commerce. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Regional Market Outlook

North America dominated the global knee braces market in terms of revenue share in 2023. The knee braces market in North America is experiencing robust growth, driven by various factors such as the rising prevalence of knee injuries, increasing awareness about preventive care, and technological advancements in knee brace design and materials. The region's well-established healthcare infrastructure and high healthcare expenditure also contribute to market expansion.

The increasing occurrence of sports-related injuries, osteoarthritis, and other knee disorders among the aging population fuels the demand for knee braces in North America. There is a heightened awareness of the benefits of knee braces in preventing injuries and managing knee pain, leading to increased adoption among both athletes and the general population.

For example, based on data from the National Safety Council, approximately 3.2 million individuals in the United States sought treatment in emergency departments for injuries related to sports and recreational equipment in 2021. This notable frequency of incidents is driving up the need for knee braces.

Competitive Landscape

The major players operating in the knee braces market include Enovis Corporation, McDavid, Inc., Bauerfeind AG, 3M, Ossur Hf. (Embla Medical hf.), Orthofix Medical, Inc. (Breg, Inc.), Mueller Sports Medicine, Inc., (EZ GARD Industries, Inc.), Medi GmbH & Co. KG, Ottobock SE & Co. KGaA, and Tynor Orthotics Private Limited.

Recent Key Strategies and Developments

• In January 2024, Ossur Hf. completed the acquisition of Fior & Gentz, a renowned manufacturer specializing in neuro-orthotic components for lower limbs. This strategic move marks Ossur's entry into the rapidly growing neuro-orthotics sector. Following the acquisition, Fior & Gentz's key markets are expected to experience a growth rate of 10-12%, with sales projected to surpass this rate while maintaining a robust EBITDA margin exceeding 30%.
• In December 2023, Tynor Orthotics Private Limited inaugurated a state-of-the-art manufacturing facility in Mohali, Punjab. Spanning an impressive 240,000 square feet, this facility is equipped with cutting-edge technology and infrastructure. The establishment of this hub signifies Tynor's commitment to revolutionizing orthopedic and healthcare offerings in India and beyond. The facility aims to diversify its product range to include mobility aids, hot and cold therapy solutions, advanced knee braces, and more, thereby enhancing its position in the market.

Key Sources Referred

1. Company Annual Reports
2. Investor Presentations
3. Press Release
4. Research Paper
5. D&B Hoovers
6. ZoomInfo Technologies LLC
7. Health central coast local Health District
8. WHO
9. PhysioPlus Health Group
10. Vanderbilt University Medical Center |

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the knee braces market segments, current trends, estimations, and dynamics of the knee braces market analysis from 2024 to 2033 to identify the prevailing knee braces market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the knee braces market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global knee braces market statistics.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report further includes the analysis of the regional as well as knee braces market trends, key players, market segments, application areas, and market growth strategies.