The study involved four major activities in estimating the current size of the orthopedic braces and supports market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial orthopedic braces and supports market study. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various supply and demand sources were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in the orthopedic braces and supports market. The primary sources from the demand side include hospitals, clinics, pharmacies, retailers, e-commerce and other end users. Primary research was conducted to validate the market segmentation, identify key players, and gather insights on key industry trends & key market dynamics.
A breakdown of the primary respondents is provided below:
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
The tiers of the companies are defined based on their total revenue. As of 2022: Tier 1 => USD 1 billion, Tier 2 = USD 200-500 million to USD 1 billion, and Tier 3 =< USD 200 million
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Market Estimation Methodology
In this report, the orthopedic braces and supports market’s size was determined using the revenue share analysis of leading players. For this purpose, key players in the market were identified, and their revenues from the market business were determined through various insights gathered during the primary and secondary research phases. Secondary research included the study of the annual and financial reports of the top market players. In contrast, primary research included extensive interviews with key opinion leaders, such as CEOs, directors, and key marketing executives.
Segmental revenues were calculated based on the revenue mapping of major solution/service providers to calculate the global market value. This process involved the following steps:
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Generating a list of major global players operating in the orthopedic braces and supports market.
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Mapping annual revenues generated by major global players from the product segment (or nearest reported business unit/product category)
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Revenue mapping of major players to cover a major share of the global market share, as of 2022
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Extrapolating the global value of the orthopedic braces and supporting market industry
Bottom-up approach
In this report, the size of the global orthopedic braces and supports market was determined using the revenue share analysis of leading players. For this purpose, key players in the market were identified, and their revenues from the orthopedic braces and supports business were determined through various insights gathered during the primary and secondary research phases. Secondary research included the study of the annual and financial reports of the top market players. In contrast, primary research included extensive interviews with key opinion leaders, such as CEOs, directors, and marketing executives.
Approach 1: Company revenue estimation approach
To calculate the global market value, segmental revenues were calculated based on the revenue mapping of major solution/product providers. This process involved the following steps:
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Generating a list of major global players operating in the orthopedic braces and supporting market
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Mapping the annual revenues generated by major global players from the orthopedic braces and supports segment (or the nearest reported business unit/product category)
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Mapping the revenues of major players to cover at least 80–85% of the global market share as of 2022
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Extrapolating the global value of the orthopedic braces and supports industry
Market Size Estimation For Orthopedic Braces and Supports: Approach 1 (Company Revenue Estimation)I
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Approach 2: Customer-based market estimation
During preliminary secondary research, the total sales revenue of orthopedic braces and supports was estimated and validated at the regional and country level, triangulated, and validated to estimate the global market value. This process involved the following steps:
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Generating a list of major customer facilities across each region and country
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Identifying the average number of orthopedic braces and supports product supplies used by major customer facilities across each product type at the regional/country level, annually
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Identifying the percentage contribution of major customer facilities to the overall orthopedic braces and supports expenditure and usage at the regional/country level, annually
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Extrapolating the annual usage patterns for various products across major customer facilities to estimate the size of each product segment at the regional/country level, annually
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Identifying the percentage contributions of individual market segments and subsegments to the overall orthopedic braces and supports market at the regional/country level
Orthopedic Braces And Supports Market Size Estimation: Bottom-Up Approach
Source: MarketsandMarkets Analysis
Data Triangulation
After arriving at the overall market size from the market size estimation process explained above, the global orthopedic braces and supports market was split into segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the orthopedic braces and supports market was validated using top-down and bottom-up approaches.
Market Definition
The orthopedic braces and supports market encompasses a diverse range of medical devices designed to provide external support, stabilization, and relief for musculoskeletal conditions. These products include braces, supports, and orthoses tailored for various anatomical areas such as the knee, ankle, spine, wrist, and shoulder. The market addresses the growing demand for solutions related to orthopedic injuries, post-surgical recovery, and chronic musculoskeletal disorders, driven by factors such as an aging population, increased awareness of preventive healthcare, and advancements in materials and technology. With a focus on enhancing patient comfort and mobility, the orthopedic braces and supports market plays a crucial role in promoting non-invasive treatment options and comprehensive musculoskeletal care within healthcare settings.
Key Stakeholders
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Orthopedic braces and supports product manufacturers
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Original equipment manufacturers (OEMs)
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Suppliers, distributors, and channel partners
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Healthcare service providers
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Hospitals and academic medical centers
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Radiologists
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Research laboratories
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Health insurance providers
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Government bodies/organizations
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Regulatory bodies
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Medical research institutes
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Business research and consulting service providers
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Venture capitalists and other public-private funding agencies
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Market research and consulting firms
Objectives of the Study
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To define, describe, and forecast the orthopedic braces and supports market based on product, type, application, end user, and region
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To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
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To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the total market
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To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
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To forecast the revenue of the market segments with respect to four regions, namely, North America, Europe, the Asia Pacific, Latin America, Middle East and Africa
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To profile the key players and comprehensively analyze their market ranking and core competencies
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To benchmark players within the market using a proprietary competitive leadership mapping framework, which analyzes market players on various parameters within the broad categories of market share and product footprint
Available Customizations
With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the present global orthopedic braces and supports market report:
Product Analysis
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Product matrix, which gives a detailed comparison of the product portfolios of the top five companies
Company Information
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Detailed analysis and profiling of additional market players (up to five)
Geographic Analysis
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Further breakdown of the Rest of Europe orthopedic braces and supports market into Russia, Belgium, the Netherlands, Switzerland, Austria, Finland, Sweden, Poland, and Portugal, among others
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Further breakdown of the Rest of Asia Pacific orthopedic braces and supports market into Singapore, Taiwan, New Zealand, Philippines, Malaysia, and other APAC countries
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Further breakdown of the Rest of Latin America (RoLATAM), which comprises Argentina, Chile, Peru, Colombia, and Cuba
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Further breakdown of the RoW market into Latin America and MEA regions
Growth opportunities and latent adjacency in Orthopedic Braces & Supports Market