With only 10.5% of US patients with knee osteoarthritis opting for surgery in 2013, a percentage that has not increased in 10 years, medical device manufacturers are working to meet the clear demand for solutions that delay unwanted surgery, according to a November report from London, UK-based GlobalData.
The US market for knee braces and supports was estimated to be $676.7 million in 2013, said Jennifer Ryan, GlobalData’s analyst covering medical devices. She noted that, while the 2013 US market for knee reconstruction surgery was valued at a considerably greater $4.2 billion, the high percentage of patients refusing or delaying the procedure is indicative of significant opportunities for orthotic devices in this treatment space.
She noted that braces and supports are an important part of orthopedic treatment in the developing world, with a third of global market revenue generated by historically smaller markets in Africa, South America, and the Middle East.
Valued at $2.3 billion in 2013, the global orthopedic braces and supports market is expected to continue growing as physician and patient adoption increases, she said.