Overview

OTC Braces and Supports Market Introduction:

OTC Braces and Supports Market is estimated to value over USD 1 billion by 2027 end and register a CAGR of over 5% during the forecast period 2020 to 2027.

Growing prevalence of osteoarthritis is one of the important factors driving the global market growth. It is the most commonly diagnosed arthritis affecting the population across all age groups. The Centers for Disease Control and Prevention (CDC) projected that over 75 million adults above the age of 18 years in the United States are predicted to be suffering from arthritis by 2038. Therefore, people diagnosed with arthritis is a prominent consumer base for the orthopedic brace industry.

Injuries related to sports are increasing with the rising number of sports and physical activities. Athletes emphasize on activities related to fitness, for instance, cycling, running and others. The athletes are likely to get injured while performing these activities, which can further result in precarious injuries like anterior cruciate ligament (ACL) injury. Athletes from sports like football, rugby, i.e., sports that require extreme physical endurance, are likely to get their ACL torn apart resulting in a prolonged recovery or an end of a career. Indoor athletes are highly probable to acquire ankle injuries. Hence, there has been a significant demand for ankle braces from these athletes. Additionally, orthopaedics also recommend ankle braces after an acute ankle sprain which shall further increase their demand.

Moreover, athletes use orthopedic braces in order to protect themselves from injuring further while playing. It aids them in restricting unnecessary movements during matches, thus, facilitating an effective and convenient game.

Pain management products held a major global market share owing to the rising presence of disorders related to pain and insistence for treating chronic joint and back pain.

Hospitals dominated the global market due to the rising number of admissions in hospitals for treating spinal and traumatic injuries, fractures to the bone and road accident injuries. Hospitals mainly use orthopedic supports and brace products due to their wide range of application in treating spinal fusion and delayed non-union and union fractures of the bone.

Europe is predicted to witness profitable global OTC braces and supports market growth over the forecast period owing to the prevalence of an established infrastructure for healthcare, accessibility of novel products and skilled healthcare professionals. The rising insistence for novel products and therapies is also a key factor predicted to bolster market growth in the region.

The Asia Pacific region is predicted to witness a high growth rate over the forecast period due to the massive presence of geriatric population in China which shall increase the demand of the product. Additionally, Japan is a substantial contributor to the overall market growth due to the prevalence of novel manufacturing technologies and facilities.

Key market players included in the global OTC braces and supports industry are:

3M Company, Alcare Co. Ltd., Bauerfeind AG, Brid and Cronin Inc., Breg Inc., BSN Medical, DJO Medical, Deroyal Industries Inc., Medi GmbH & Co. KG, Össur HF, Ottoboack Healthcare, Thuasne Group, Trulife, Zimmer Biomet Holdings Inc.

OTC Braces and Supports Market Segmentation:

By Product

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

By Type

Soft & elastic Braces and Supports
Hard & Rigid Braces and Supports
Hinged Braces and Supports

By Application

Ligament Injury Repair
Anterior Cruciate Ligament Injuries
Lateral Collateral Ligament
Other Ligament Injuries
Preventive Care
Post-Operative Rehabilitation
Osteoarthritis
Compression Therapy
Other Applications

By Distribution Channel

Pharmacies & Retailers
E-Commerce Platforms
Orthopedic Clinics

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global OTC braces and supports market by product, by type, by application, by distribution channel and by region.
To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
To forecast and evaluate micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
To record, evaluate and analyse competitive landscape mapping- technological advancements, product launches, expansions and mergers

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