Orthotic aids are devices that provide support and stability to the musculoskeletal systems. As these aids are used to prevent or correct deformities, facilitate proper alignment, and improve the function of body parts, custom-made aids are used in most cases. Key factors driving the orthotic aids market include the increasing prevalence of orthopedic conditions among people of different age groups. Additionally, the rising number of strategic collaborations and product launches by market players is expected to contribute to the orthotic aids market proliferation in the future.
New Product Launches and Approvals, and Business Expansions Facilitate Orthotic Aids Market Progress
Considering the burgeoning demand for orthotic aids from a large population, companies in the orthotic aids market invest in R&D activities to develop more effective and innovative products, resulting in a rising number of new product launches and approvals.
In November 2023, Blatchford launched an intelligent orthotic device named Tectus. It is a “life-changing” product designed to enable people with partial lower limb paralysis to walk more easily, naturally, and comfortably with greater confidence and safety.
In February 2021, Breg Inc, a leading manufacturer of knee, hip, elbow, spine, foot, and ankle braces, announced the launch of Pinnacle and Ascend lines of spinal orthoses. With this product, Breg Inc. intends to enhance spinal care through more comfortable braces that encourage treatment adherence and promote healing.
In May 2020, Össur, a developer and manufacturer of bracing, compression therapy, prosthetics, and other orthopedic products, announced the launch of Unloader One X, which is the most recent model of its Unloader One knee braces.
In addition to the launch of innovative products, sustainable business practices are providing significant financial advantages to a large number of orthotic aids manufacturers in the world. Thus, strategic developments such as new product launches and approvals create significant opportunities in the orthotic aids market.
Orthotic Aids Market: Segmental Overview
The orthotic aids market is segmented on the basis of product type, application, distribution channel, and supplier type. Based on product type, the orthotic aids market has been segmented into braces, body belts, and others. The braces segment held the largest market share in 2022, and the same segment is anticipated to register the highest CAGR during 2022–2030. In terms of application, the orthotic aids market has been segmented into ligament injury repair, preventive care, osteoarthritis, compression therapy, and others. Based on distribution channel, the market is bifurcated into online and offline. The orthotic aids market, by supplier type, is segmented into branded and unbranded.
Orthotic Aids Market: Competitive Landscape and Key Developments
Ossur hf, Ottobock SE & Co KGaA, Thuasne SAS, Fillauer LLC, Lohmann & Rauscher GmbH & Co KG, DeRoyal Industries Inc, Hanger Inc, Steeper Group Holdings Ltd, Breg Inc, and DJO LLC are a few of the key companies operating in the orthotic aids market. Market players focus on new product launch, expansion and diversification, and acquisition strategies to exploit existing and emerging business opportunities. A few of the recent developments in the orthotic aids market are mentioned below.
- In October 2021, 3D Ortho Pro launched new ankle-foot orthoses (AFO) and spinal mobility orthoses (SMO). Piro is a single-piece ankle-foot orthosis and spinal mobility orthosis that provides stability for children experiencing foot drop, mainly due to tetraplegia or cerebral palsy.
- In January 2021, Thrive Orthopedics launched its own product line of 3D-printed orthoses—the Balance 3D+ Brace. These AFO products reduce postural sway and increase postural stability.
- In June 2020, DJO launched the new DonJoy X-ROM Post-Op Knee Brace. Featuring DonJoy’s most advanced range of motion (ROM) protection and improved user-friendly design for faster, easier application and adjustment, the X-ROM brace helps patients recover from ACL repair and other knee surgeries with improved confidence, comfort and stability.