As per a report by P&S Intelligence, the Latin America orthopedic garments market will advance at 5.2% compound annual growth rate, to reach USD 376.3 million, by 2030.
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| To learn more about this report: https://bit.ly/3CmOKGo |
The growth in the industry is driven by factors such as the increasing elderly populace, the existence of numerous physiotherapists, easy availability & affordability of products, and the growing incidence of orthopedic illnesses.
Likewise, the Latin America orthopedic soft goods & braces market will advance at 4.9% compound annual growth rate, to reach USD 291.1 million, by 2030.
In recent years, the knee category held the highest orthopedic soft goods and braces industry revenue in Latin America, and it will also experience the fastest growth throughout this decade. This is because of the easy accessibility of these products for injuries, discomfort, and illnesses of the knee.
In recent years, Brazil generated the largest share of the orthopedic soft goods & braces industry in Latin America, owing to the mounting obesity incidence in the nation, which resulted in orthopedic diseases.
A major trend witnessed in the orthopedic garments, soft goods, & braces industry in Latin America is the development of orthopedic products.
It is because of the mounting elderly population and easy availability and affordability of products, the industry of orthopedic garments, soft goods, & braces industry in Latin America will grow significantly in the years to come.
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