OTC Braces & Supports Market: Introduction
- Orthopedic braces & supports are widely used for the treatment of ankle sprains and knee ligament injuries suffered during sports activities. These braces & supports are intended for providing support, compression, and joint stability to alleviate pain caused due to chronic conditions such as arthritis and sports injuries.
- Braces & supports find applications in osteoarthritic care, post-operative care, injury prevention, and injury rehabilitation. OTC braces and supports are extensively used for treatment of cerebral palsy, scoliosis, spinal cord injury, and spina bifida, and other stroke effects.
- Sophisticated design of OTC braces & supports, cost-effectiveness, and ease of availability contribute to the growth of the global market. Additionally, these are used by athletes and sportspersons to avoid injuries.
Key Drivers and Restraints of Global OTC Braces & Supports Market
- The global OTC braces & supports market is anticipated to be driven by rise in prevalence of orthopedic diseases and increase in number of accident-related injuries
- Rise in prevalence of osteoporosis among people, primarily the baby boomer population, boosts the growth of the global OTC braces & supports market. Prevalence of osteoporosis is considered to be higher in men than women
- Ease of availability of OTC braces & supports for preventive care and ambulatory procedures fuels the growth of the global market
- However, availability of alternative treatments, lack of customizable options, and changing patient preference against braces & supports are likely to hamper the growth of the global OTC braces & supports market
Request a Sample to Get Extensive Insights into OTC Braces & Supports Market
North America to Lead Global OTC Braces & Supports Market
- In terms of region, the global OTC braces & supports market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global OTC braces & supports market in 2019, owing to presence of leading players, increase in product approvals, well-established health care infrastructure, and high prevalence of orthopedic diseases and sports injuries
- Europe was the second largest market for OTC braces & supports in 2019. Asia Pacific is projected to be the fastest growing market for OTC braces & supports, followed by Latin America and Middle East & Africa. Rise in focus of governments of countries in Asia on enhancing health care facilities, increase in focus of players on leveraging opportunities offered by emerging economies, and surge in prevalence of osteoporosis and orthopedic injuries among people are expected to augment the OTC braces & supports market in the region.
Key Players Operating in Global OTC Braces & Supports Market
Leading players in the global OTC braces & supports market are:
- Bauerfeind AG
- Össur Hf
- DJO Finance LLC
- Breg, Inc.
- DeRoyal Industries, Inc.
- Ottobock Holding GmbH & Co. KG
- Zimmer Biomet Holdings, Inc.
- Becker Orthopedic
- medi GmbH & Co. KG
- BSN medical
Looking for Customized Insights to build your Business for Future, Ask for a Custom Report here
Global OTC Braces & Supports Market: Research Scope
Global OTC Braces & Supports Market, by Product
- Ankle Braces & Supports
- Foot Walkers and Orthoses
- Knee Braces & Supports
- Hand & Wrist Braces and Supports
- Facial Braces & Supports
Global OTC Braces & Supports Market, by Type
- Hinged Braces & Supports
- Hard & Rigid Braces and Supports
- Soft & Elastic Braces and Supports
Global OTC Braces & Supports Market, by Application
- Ligament Injury Repair
- Preventive Care
- Compression Therapy
Global OTC Braces & Supports Market, by Distribution Channel
- Online Channels
- Retail Pharmacies
Global OTC Braces & Supports Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.