OTC Braces & Supports Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030
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.
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- 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
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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:
- KineMedics
- 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
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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.
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