The global orthopedic bracing and support systems market to grow at a CAGR of 4.35% during the period 2017-2021.
The report, Global Thoracic Surgery Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is growing popularity of minimally invasive procedures. Traditional open surgeries can cause post-operative complications such as pain, partially collapsed lungs, blood clots, fatigue, muscle atrophy, and infections. The anesthesia administered before surgeries can cause nausea, sore throat, confusion, and sleepiness. To reduce such complications, medical facilities have started implementing minimally invasive techniques in their surgical procedures.
According to the report, one driver in market is cost-effective alternative in developing countries. Braces and supports are more economical than surgeries, and one does not need any special knowledge or skills to use them. For early osteoarthritis treatment in lower and upper extremities, orthopedic braces and support systems are used, which are cheaper compared with hip and knee replacement procedures. For instance, the estimated cost of a knee replacement surgery ranges between $70,000 and $90,000, which includes hospital stay, cost of implant, and other cost factors (medicines, nursing, and consultation fee).
But if osteoarthritis is detected early, then braces and support systems can be used, which cost between $5,000 and $18,000 based on the type, thereby curbing the cost. These factors are driving the adoption of braces and support systems in developing countries. Additionally, medical treatments for certain musculoskeletal disorders, such as arthritis, are focused on maintaining joint movements and pain alleviation. Also, limited access to hospitals creates an opportunity for the adoption of braces and supports in rural areas.