According to a new report by Global Industry Analysts, San Jose,
California, the international revenue of the orthopedic orthotics
market is expected to reach $5.1 billion by the year 2015. The
report, titled, “Orthopedic Orthotics: A Global Strategic Business
Report” also estimates that the 2008 U.S. orthopedic braces market
will be worth $629 million for 2008. It attributes the growing
value of the national and international market to many factors,
including an aging populace that increasingly suffers from
osteoarthritis and obesity-related joint wear; innovations in the
field that allow for less expensive custom and custom-fitted
devices; new bracing functionalities; high-tech materials; rising
disposable incomes; and expanded health insurance coverage and
public health programs throughout the world. It stated that U.S.
growth is particularly attributable to increases in arthritis and
other bone ailments, which are driving the sales of orthopedic
supports and braces, particularly knee braces for osteoarthritis.
The report states that the U.S. and Europe collectively account for
about 70 percent of the global market, currently, with France,
Germany, Italy, and the United Kingdom accounting for about 65
percent of the total. It said that for 2008, items in the
“Orthopedic Support Devices” category represent the market’s
largest product segment, about 57 percent of the total market.