Summary

South Korea has one of the fastest-ageing populations in the world. As people age, they become more susceptible to musculoskeletal disorders, falls, and other injuries. Orthopaedic braces and supports can help prevent and manage these conditions, making them an important tool for the elderly. Furthermore, musculoskeletal disorders such as osteoarthritis, rheumatoid arthritis, and osteoporosis are becoming more common in South Korea, particularly among the ageing population. This has led to an increased demand for orthopaedic braces and supports that can help manage the symptoms of these conditions. Moreover, as awareness of the benefits of orthopaedic braces and supports grows in South Korea, there has been an increase in demand for these devices. This has led to the development of a wide range of products to suit different needs, from basic supports for everyday use to high-tech devices that incorporate features such as adjustable compression and temperature control. In addition, with the rise of social media and other digital platforms, more people are becoming aware of the benefits of orthopaedic braces and supports. This increased awareness is leading to higher demand for these products. Furthermore, South Korea is also known for its advanced technology in the orthopedic industry, with companies developing cutting-edge devices such as 3D-printed custom braces and wearable sensors to monitor rehabilitation progress.

According to the research report "South Korea Orthopedic Braces & Supports Market Overview, 2028," published by Bonafide Research, the South Korea Orthopedic Braces & Supports market is expected to grow at more than 7.50% CAGR from 2023 to 2028. The ageing population in South Korea is increasing rapidly, and this is expected to drive the demand for orthopaedic braces and supports. As people age, they are more likely to experience joint pain and other orthopaedic conditions that require the use of braces and supports. Furthermore, sports injuries are on the rise in South Korea, particularly among younger generations. This is creating a growing demand for orthopaedic braces and supports, particularly for knee and ankle injuries. For instance, South Korea has a strong sporting culture, with many people participating in activities such as soccer, baseball, and taekwondo. As a result, there is a high demand for orthopaedic braces and supports to treat sports-related injuries such as sprains, strains, and fractures. Moreover, South Korea is becoming an increasingly popular destination for medical tourism, particularly for orthopaedic procedures. This is creating new opportunities for orthopaedic braces and supporting companies to partner with medical tourism providers and hospitals to provide products and services to international patients. In addition, South Korea has a regulatory environment that is favorable to medical device companies, with clear guidelines and processes in place for product registration and approval. However, companies must comply with these regulations and ensure that their products meet the necessary standards before entering the market.

South Korea has an ageing population, and with age comes an increased risk of knee-related conditions such as osteoarthritis, ligament injuries, and patellofemoral pain syndrome. Knee braces and supports are effective in managing these conditions, which has driven demand for these products in the market. Furthermore, there are different types of knee braces and supports available in the South Korean market, including knee sleeves, hinged knee braces, wraparound knee braces, and custom-made knee braces. Each type of knee brace has its own unique features and applications and is used to treat different knee-related conditions. For instance, some popular brands of knee braces and support products in South Korea include Genumedi, Genupro, DonJoy, Medi, Ossur, and more. However, facial nerve palsy is a condition that can cause weakness or paralysis of the muscles in the face. There is a trend towards using customized facial braces and supports to provide targeted support and stabilization to the affected muscles, which can help improve function and reduce the risk of complications. Furthermore, mandibular fractures are one of the most common types of facial fractures, and there is a growing trend towards using external fixation devices such as mandibular plates and screws to treat these injuries. These devices can provide effective stabilization and allow for early mobilization and a return to normal activities. For instance, some brands of facial braces and supports like Ossur, Breg, Medi, Bauerfeind, and Thuasne.

Based on distribution channel, e-commerce platforms are becoming an increasingly popular distribution channel for orthopaedic braces and supports in South Korea, as they offer convenience and a wide selection of products. For instance, companies operating in this channel include Gmarket, Coupang, and 11st. Furthermore, many pharmacies and retailers in South Korea also carry orthopaedic braces and support products, as these products are often used in the treatment of common musculoskeletal injuries such as sprains and strains. For instance, CJ Healthcare, Olive Young, and Watsons. In addition, orthopaedic clinics are another important distribution channel for orthopaedic braces and supports in South Korea. These clinics specialize in the diagnosis and treatment of musculoskeletal conditions and often have on-site retail stores where patients can purchase braces and supports. Examples of companies operating in this channel include the Seoul National University Bundang Hospital Orthopaedic Clinic, the Kookmin University Medical Centre Orthopaedic Clinic, and the Yonsei University Severance Hospital Orthopaedic Clinic.

KIMES (Korea International Medical and Hospital Equipment Show) is the largest medical equipment and hospital facility show in Korea. It features a wide range of products related to the medical industry, including orthopaedic braces and supports. Furthermore, the KOS (Korea Orthopaedic Society) Annual Congress the Annual Congress is a scientific meeting that brings together orthopaedic surgeons and researchers from around the world to share their latest research findings and advances in the field. The event includes a trade show component that showcases products related to orthopedics, including braces and supports. Moreover, the Seoul Medical Devices Expo is a trade show that focuses on medical devices and equipment, including orthopaedic braces and supports. It provides a platform for manufacturers and suppliers to showcase their latest products and technologies to medical professionals and buyers. In addition, the Seoul Medical Devices Expo is a trade show that focuses on medical devices and equipment, including orthopaedic braces and supports. It provides a platform for manufacturers and suppliers to showcase their latest products and technologies to medical professionals and buyers.

Considered in this report
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• United States Orthopedic Braces & Supports market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Knee Braces and Supports
• Ankle Braces and Supports
• Foot Walkers and Orthoses
• Hip, Back, And Spine Braces and Supports
• Shoulder Braces and Supports
• Elbow Braces and Supports
• Hand & Wrist Braces and Supports
• Facial Braces and Supports

By Distribution Channel
• Hospitals and Surgical Centres
• Orthopedic Clinics
• Pharmacies & Retailers
• E-commerce platforms
• Other End Users

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Orthopedic Braces & Supports industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Table of Contents

Table of Contents

1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
2.7. Geography
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. South Korea Macro Economic Indicators
5. Market Dynamics
5.1. Key Findings
5.2. Key Developments - 2021
5.3. Market Drivers & Opportunities
5.4. Market Restraints & Challenges
5.5. Market Trends
5.6. Covid-19 Effect
5.7. Supply chain Analysis
5.8. Policy & Regulatory Framework
5.9. Industry Experts Views
6. South Korea Orthopedic Braces & Supports Market Overview
6.1. Market Size By Value
6.2. Market Size and Forecast By Product
6.3. Market Size and Forecast By Distribution Channel
7. South Korea Orthopedic Braces & Supports Market Segmentations
7.1. South Korea Orthopedic Braces & Supports Market, By Product
7.1.1. South Korea Orthopedic Braces & Supports Market Size, By Knee Braces and Supports, 2017-2028
7.1.2. South Korea Orthopedic Braces & Supports Market Size, By Ankle Braces and Supports, 2017-2028
7.1.3. South Korea Orthopedic Braces & Supports Market Size, By Foot Walkers and Orthoses, 2017-2028
7.1.4. South Korea Orthopedic Braces & Supports Market Size, By Hip, Back, And Spine Braces and Supports, 2017-2028
7.1.5. South Korea Orthopedic Braces & Supports Market Size, By Shoulder Braces and Supports, 2017-2028
7.1.6. South Korea Orthopedic Braces & Supports Market Size, By Elbow Braces and Supports, 2017-2028
7.1.7. South Korea Orthopedic Braces & Supports Market Size, By Hand & Wrist Braces and Supports, 2017-2028
7.1.8. South Korea Orthopedic Braces & Supports Market Size, By Facial Braces and Supports, 2017-2028
7.2. South Korea Orthopedic Braces & Supports Market, By Distribution Channel
7.2.1. South Korea Orthopedic Braces & Supports Market Size, By Hospitals and Surgical Centres, 2017-2028
7.2.2. South Korea Orthopedic Braces & Supports Market Size, By Orthopedic Clinics, 2017-2028
7.2.3. South Korea Orthopedic Braces & Supports Market Size, By Pharmacies & Retailers, 2017-2028
7.2.4. South Korea Orthopedic Braces & Supports Market Size, By E-commerce platforms, 2017-2028
7.2.5. South Korea Orthopedic Braces & Supports Market Size, By Other End Users, 2017-2028
8. South Korea Orthopedic Braces & Supports Market Opportunity Assessment
8.1. By Product, 2023 to 2028
8.2. By Distribution Channel, 2023 to 2028
9. Competitive Landscape
9.1. Porter's Five Forces
9.2. Company Profile
9.2.1. Company 1
9.2.1.1. Company Snapshot
9.2.1.2. Company Overview
9.2.1.3. Financial Highlights
9.2.1.4. Geographic Insights
9.2.1.5. Business Segment & Performance
9.2.1.6. Product Portfolio
9.2.1.7. Key Executives
9.2.1.8. Strategic Moves & Developments
9.2.2. Company 2
9.2.3. Company 3
9.2.4. Company 4
9.2.5. Company 5
9.2.6. Company 6
9.2.7. Company 7
9.2.8. Company 8
10. Strategic Recommendations
11. Disclaimer

List of Figures

Figure 1: South Korea Orthopedic Braces & Supports Market Size By Value (2017, 2022 & 2028F) (in USD Million)
Figure 2: Market Attractiveness Index, By Product
Figure 3: Market Attractiveness Index, By Distribution Channel
Figure 4: Porter's Five Forces of South Korea Orthopedic Braces & Supports Market

List of Table

Table 1 : Influencing Factors for Global Orthopedic Braces & Supports Market, 2022
Table 2: South Korea Orthopedic Braces & Supports Market Size and Forecast By Product (2017, 2022 & 2028F)
Table 3: South Korea Orthopedic Braces & Supports Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 4: South Korea Orthopedic Braces & Supports Market Size of Knee Braces and Supports (2017 to 2028) in USD Million
Table 5: South Korea Orthopedic Braces & Supports Market Size of Ankle Braces and Supports (2017 to 2028) in USD Million
Table 6: South Korea Orthopedic Braces & Supports Market Size of Foot Walkers and Orthoses (2017 to 2028) in USD Million
Table 7: South Korea Orthopedic Braces & Supports Market Size of Hip, Back, And Spine Braces and Supports (2017 to 2028) in USD Million
Table 8: South Korea Orthopedic Braces & Supports Market Size of Shoulder Braces and Supports (2017 to 2028) in USD Million
Table 9: South Korea Orthopedic Braces & Supports Market Size of Elbow Braces and Supports (2017 to 2028) in USD Million
Table 10: South Korea Orthopedic Braces & Supports Market Size of Hand & Wrist Braces and Supports (2017 to 2028) in USD Million
Table 11: South Korea Orthopedic Braces & Supports Market Size of Facial Braces and Supports (2017 to 2028) in USD Million
Table 12: South Korea Orthopedic Braces & Supports Market Size of Hospitals and Surgical Centres (2017 to 2028) in USD Million
Table 13: South Korea Orthopedic Braces & Supports Market Size of Orthopedic Clinics (2017 to 2028) in USD Million
Table 14: South Korea Orthopedic Braces & Supports Market Size of Pharmacies & Retailers (2017 to 2028) in USD Million
Table 15: South Korea Orthopedic Braces & Supports Market Size of E-commerce platforms (2017 to 2028) in USD Million
Table 16: South Korea Orthopedic Braces & Supports Market Size of Other End Users (2017 to 2028) in USD Million