The Latin American (LATAM) orthopedic garments market is projected to reach a value of $376.3 million in 2030, increasing from $223.1 million in 2019, progressing at a 5.2% CAGR during the 2020–2030. The market is growing due to the rising burden of orthopedic diseases, presence of major physiotherapists in the region, easy product availability and affordability, and increasing geriatric population. The LATAM orthopedic soft goods & braces market reached $177.4 million in 2019, and is projected to register 4.9% CAGR during the forecast period.
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On the basis of type, the market is divided into supports & braces, bests, sleeves, masks, socks, and pantyhose, out of which, the largest revenue share is predicted to be occupied by the braces and support category in 2030. These products are used widely by patients suffering from orthopedic disabilities and disorders. In addition to this, these products are also being utilized in rehabilitation, after orthopedic surgeries are conducted.
Considering the geographical scenario, Brail accounted for the largest share of the LATAM orthopedic garments market during the historical period (2014–2019). The country is further expected to register the highest CAGR during the forecast period, owing to the presence major players and increasing prevalence orthopedic diseases. The rising awareness regarding the preventive orthopedic care is also predicted to result in the rising demand for orthopedic garments in the country in the coming years.
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.
