Global OTC Braces and Supports Market is Estimated to Value Over USD 1.35 Billion by 2026 End

  • 01 Nov 2019
  • Healthcare

Global OTC Braces and Supports Market is estimated to value over USD 1.35 billion by 2026 end and register a CAGR of over 5% during the forecast period 2019 to 2026.

The rising insistence for OTC orthopedic braces amongst the elderly population is expected to stimulate market growth. Increasing prevalence of the diseases that degenerate bones, obesity is predicted to fuel the global OTC braces and supports market growth in the upcoming years. OTC orthopedic braces are easily available through the medium of e-commerce and this is projected to further expand the OTC braces and supports market size.

Moreover, adoption of the orthopedic braces as a preventive measure is positively influencing the market growth. Increasing prevalence of orthopedic injuries and increasing participation of youth in the sports activities and in them may open up new growth opportunities in the global market. However, limited financial support is offered for OTC orthopedic braces which may hamper the growth of the global OTC orthopedic braces market.

The knee Braces and Supports Segment is Projected to Dominate the Market

The knee braces and supports held the largest global OTC braces and support market share in 2018. This large share can be credited to the growing ageing and obese population as they are highly probable of getting diagnosed with osteoarthritis and other knee-related conditions, the advantages provided by these products like medial and lateral support and increasing sports-related injuries, injury limitation during motion, protection from the post-surgical injury risk and reduction of knee rotation.

Soft and elastic braces are widely used support and bracing products in orthopedic. They provide unrestricted patient mobility, are easy to use, flexible and they can be customised which cannot be done in other surgical options. The large segment share can be credited to the increasing accessibility of novel products, growing acceptance and patients prioritizing orthopedic braces in preventive and post-operative care and the bolstering refund scenario for target-related products across developed markets.

Retailers and pharmacies provide orthopedic support and bracing products for post-operative rehabilitation, physiotherapy, fracture recovery and preventive care. These are prefabricated products and they do not require altered specifications, like for instance, girth, screwing or length in order to align them with the body of the patient. Thus, there is no requirement of the presence or medical supervision of an orthopedic technician for their administration. The global OTC braces and supports market growth can be credited to the wide accessibility of orthopedic bracing products through pharmacies and retailers and the increasing acceptance of over-the-counter products for ligament and sprain injuries in multiple countries.

North America is the primary region for generating massive revenues that are aiding in the expansion of the global OTC braces and supports market size. The supportive regulations of the government for the commercialization of products, rising incidences of musculoskeletal conditions in the ageing population, consistent commercialization and development of advanced OTC orthopedic support and bracing products, substantial increase in the number of sports-related injuries in the nation, public participating actively in physical activities and the presence of established manufacturers in the region are steering the market growth in the region.

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.

 

Global 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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