Technological Advancements to Drive LATAM Orthopedic Garments, Soft Goods & Braces Market

The major factors driving the growth of the market are the increasing awareness amongst the people about the advantages of energy-based aesthetic systems, growing popularity of minimally invasive aesthetic treatment procedures, and soaring geriatric population across the world. Furthermore, the market will exhibit a CAGR of 10.4% from 2019 to 2024, according to the predictions of the market research company, P&S Intelligence.

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When use area is taken into consideration, the LATAM orthopedic soft goods & braces market is divided into knee, shoulder, ankle, neck, hand/wrist, and elbow. Among all these, the knee division dominated the market in the past and is expected to grow at the fastest pace during the forecast period. These products are available easily for knee injuries, discomfort, and disorders. Furthermore, these products are also being utilized by people suffering from arthritis and sports injuries. These factors are driving the growth of this category.

A key factor leading to the growth of the LATAM orthopedic soft goods & braces market is the surging geriatric population in the region. According to the United Nations Department of Economic and Social Affairs, the proportion of people aged 65 years or above in Brazil was 9.3% in 2019, which is expected to rise to 13.6% by 2030. This increasing number of aged people are leading to high prevalence of orthopedic garments, and are, in turn, driving the growth of the market.

A key trend being witnessed in the LATAM orthopedic garments market is the advancements in orthopedic products. As the incidence or orthopedic disorders and diseases is rising, the advancements in different orthopedic products, including soft goods, garments, and braces, are increasing as well. According to the data by Orthopedics Design & Technology magazine, 2019, the advancements that have been introduced in orthopedic braces and soft goods have proven to be extensively useful for patients.

Hence, the market is being driven by the surging geriatric population and advancements in orthopedic products.

This study covers

• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders

About P&S Intelligence

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