| Increasing Cases of Osteoporosis
and Arthritis Drive Demand for Orthopedic Braces
in the United States |
Posted on : Tue, 24 Oct 2006 13:24:00 GMT
| Author : Frost & Sullivan
News Category
: PressRelease |
 | |
PALO ALTO, Calif., Oct. 24 /PRNewswire/
-- The increasing number of Americans suffering
arthritis is fueling the sale of orthopedic
braces and supports, especially osteoarthritis
(OA) braces for the knee. The market for
rehabilitative and preventive braces and
supports is likely to grow significantly, as
this and other musculoskeletal conditions
continues to become more common.
Use of assistive devices for mobility
impairments has increased dramatically over the
last decade in the United States, especially due
to an aging population, technological advances,
public policy initiatives, and changes in the
delivery and financing of healthcare. This trend
has boosted the orthopedic brace and supports
market as well as adjacent markets for orthotics
and prosthetics.
Successful segments in the market include
osteoarthritis knee braces, pneumatic and
diabetic walkers, and shoulder braces and
supports. Cold therapy systems and disposable
infusion pumps for pain management are other
sports medicine products that are experiencing
high growth.
The orthopedic braces and supports market
is highly competitive and manufacturers with
broad product lines are noticeably the market
leaders. Several smaller manufacturers continue
to prosper within their respective product
niches.
The U.S. orthopedic braces and supports
market can expect more entrants, but there is
stillroom for companies that can develop truly
innovative products and technology.
"There is increased demand from
clinicians for braces and supports that are
injury or surgery specific, especially ones for
the knee, ankle, and shoulder," cites Frost
& Sullivan Senior Industry Analyst Charlie
Whelan. "If a small company develops and patents
a design specific to these indications,
generating significant demand from clinicians
and payment from insurers, it could lead to
significant revenues."
Manufacturers indicate that in recent
years, actual organic growth in the U.S.
orthopedic braces and supports market has been
very low, with the major competitors growing
largely through acquisitions that allow them to
enjoy improved economies-of-scale and profit
margins. The recent major acquisitions in the
industry have opened or expanded distribution
channels for the manufacturers. For example, dj
Orthopedics' Aircast acquisition will give it
even greater access into the hospital market,
but it will also open doors to family
practitioners and international markets it was
formerly weak in. Ossur, an Icelandic company,
acquired a number of important U.S. competitors
in the orthopedic braces and supports market
from 2003 through 2005, expanding its reach
significantly in the North American market. When
Orthofix acquired its distribution partner,
Breg, in 2003, it instantly gained access into
the offices and hospitals that the company's
representatives were selling into.
Braces and supports are considered
commodities and brand loyalty is more difficult
to achieve when compared to other orthopedic
equipment. The stock and bill programs are being
widely adopted as physicians are looking for new
revenue streams. However, small manufacturers
find these programs hard to support.
"Manufacturers, to prove the benefits of
their products, are increasingly resorting to
'evidence-based marketing', which is common
among high-end medical technology industries,"
notes Whelan. "This strategic approach relies
heavily on scientific and clinical research
attesting to the benefits of a product, either
by itself or in comparison to competitors."
The U.S. Orthopedic Braces and Supports
Markets is part of the Medical Devices
subscription, which also includes research in
the following markets: benign prostatic
hyperplasia therapeutic devices, bone growth and
spinal fusion stimulators, and cardiac ablation.
All research services included in subscriptions
provide detailed market opportunities and
industry trends evaluated following extensive
interviews with market participants. Analyst
interviews are available to the press.
Keywords in this release: brace,
orthopedic support, medical equipment,
osteoarthritis, arthritis, knee brace,
pneumatic, diabetic walker, shoulder brace, cold
therapy system, disposable infusion pump, stock
and bill program, research, information, market,
trends, technology, service, forecast, market
share
Frost & Sullivan
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