According to FutureWise analysis the market for OTC Braces and Supports in 2025 is US$ 1.15 billion, and is expected to reach US$ 1.83 billion by 2033 at a CAGR of 6.60%.
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.