According to the latest market research study released by Technavio, the global back support market is expected to grow at a CAGR of around 4% during the forecast period 2017-2021.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global back support market based on product type:
Global back support market share by end user 2016
|
Orthopedic clinics |
45% |
|
Hospitals |
30% |
|
OTC |
25% |
Source: Technavio
Global back support market for OTC end-use
In 2016, the OTC segment accounted for around 45% of the overall market share. The high demand or back support for OTC end use is attributable to the greater demand for quick self-treatment from patients. The segment produces mass orthosis products such as back support and braces that can be purchased without a medical prescription. The demand from the sector is higher as back support products provide an immediate solution for pain relief while custom-made orthosis products are produced per the prescription and do not provide temporary relief to patients.
“The market is currently experiencing an upsurge in the demand for lumbar back support products. Lumbar back support belts are designed especially for alleviating thoracic pain and neck and spine pain. Lumbar back supports with different specifications are offered by the vendors, making them more comfortable and user-friendly,” says Abhay Sinha, a lead analyst at Technavio.
Global back support market for orthopedic clinic end-use
Orthopedic clinics rely on third-party manufacturers, which are often scrutinized by agencies such as the US Food and Drug Administration and British Standards Institution due to poor operation standards of the manufacturers. Consumers prefer orthopedic clinics due to improved economic growth and increasing awareness about health and wellness. The market in China by orthopedic clinics segment is growing due to urbanization, better health care facilities, and insurance coverage. Recent developments in the orthopedic industry include three-dimensional (3D) printing of back supports or braces, smart implants, robotics, and nanotechnology is expected to foster the demand for back support products for clinical use during the forecast period.
Global back support market for hospital end-use
The hospital segment contributed around 25% of the overall market share during 2016. The growth of older population across the globe drives the demand orthosis products such as back support and braces from the hospitals segment. In North America, the healthcare sector is estimated to grow at a rate of over 5% during 2016-2021. In APAC, India will see the strongest growth followed by China. The healthcare sector in the Middle East and Africa will also witness rapid growth. The growth of the global healthcare market is expected to contribute the demand for back support products for hospital end-use through 2021.
The top leading vendors operating in the global back support market are:
- 3M
- ITA-MED
- Bauerfeind
- DeRoyal
Other prominent vendors in the market include BSN medical, DJO Global, Ossur, and Ottobock.
A more detailed analysis is available in the Technavio report titled, ‘Global Back Support Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Electronic Massager Market 2016-2020
- Global Lumbar Spine Fusion Market 2016-2020
- Global Spinal Implants Market 2016-2020
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