According to the new market research “OTC Orthopedic Braces Market by Product (Knee, Ankle, Spine, Shoulder, Neck, Elbow, Wrist, Facial), Category, Application (Ligament (ACL, LCL), Preventive, OA, Compression), Distribution (Clinics, Pharmacies, E-Commerce) - Global Forecast to 2024", analyzes and studies the major market drivers, restraints/challenges, and opportunities. The OTC braces and supports market is projected to reach USD 1.5 billion by 2024 from USD 1.2 billion in 2019, at a CAGR of 5.1% during the forecast period. 

The global OTC Orthopedic Braces market is segmented based on product, category, application and distribution.

Knee braces are utilized as a follow-up treatment post knee surgery associated with injuries such as sprained medial knee ligament, patella tendonitis, torn knee cartilage, knee arthritis, and runner’s knee. The high growth of the knee braces and supports segment can be attributed to the rising geriatric & obese population (who are at a higher risk of developing osteoarthritis and other knee-related conditions), the increasing incidence of sports injuries, and the benefits offered by these products, such as medial and lateral support, reduced rotation of the knee, limited injury during motion, and protection from post-surgical risk of injury.

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Soft & elastic braces are the most common bracing & support products in orthopedics. They are easy to use, flexible, provide unrestricted patient mobility, and are highly customizable, as compared to other surgical alternatives. The large share of this segment is attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative & preventive care, and the supportive reimbursement scenario for target products across mature markets.

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Pharmacies & retailers offer orthopedic bracing and support products for preventive care, post-operative rehabilitation, fracture recovery, and physiotherapy. These products are prefabricated and do not require alterations in their specification (such as length, girth, or screwing) to align them with the patient’s body. Therefore, medical supervision or the presence of an orthopedic technician is not required for their administration. The growth in this market is attributed to the wide availability of orthopedic bracing products through retailers & pharmacies and the rising adoption of off-the-shelf products for sprain & ligament injuries in major countries.

Market Players

The key players in the OTC Orthopedic Braces market are Breg, Inc. (US), DJO Finance LLC (US), Bauerfeind AG (Germany), DeRoyal Industries, Inc. (US) and Össur Hf (Iceland) are the top five players in the market. Other prominent players operating in this market include Oppo Medical, Inc. (US), Zimmer Biomet Holdings, Inc. (US), Ottobock Holding GmbH & Co. KG (Germany), Bird & Cronin, Inc. (US), Reh4Mat (Poland), 3M Company (US), medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Becker Orthopedic (US), and United Ortho (US).

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The major factors driving the growth of the OTC Orthopedic Braces market are the increasing prevalence of orthopedic diseases & disorders, rising number of sports and accident-related injuries, and growing public awareness related to preventive care.

Knee braces and supports segment accounted for the largest share of the OTC braces and supports market, by product, in 2018

The knee braces and supports segment accounted for the largest share of the OTC braces and supports market, by product, in 2018. The large share of this segment can be attributed to the growing geriatric & obese population as they are at a higher risk of developing osteoarthritis and other knee-related conditions, increasing incidence of sports injuries, and the benefits offered by these products, such as medial and lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.

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Soft & elastic braces and supports segment to register the highest growth in the OTC braces and supports market, by type, during the forecast period

The soft & elastic braces and supports segment is expected to grow at the highest CAGR during the forecast period. Growth in this market can primarily be attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative & preventive care, the rising number of road accidents, and the increasing incidence of sports injuries.

Preventive care segment accounted for the largest share of the OTC braces and supports market, by application, in 2018

Preventive care is the largest application segment of the OTC braces and supports market, and this trend is expected to continue during the forecast period. The large share of this segment can primarily be attributed to the growing public participation in sports and the increasing availability of OTC bracing products for preventive care & ambulatory procedures.

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North America is the largest regional market for OTC braces and supports

North America is one of the major revenue-generating regions in the OTC braces and supports market. The supportive government regulations for product commercialization, high prevalence of musculoskeletal conditions in the adult population, continuous development and commercialization of novel OTC orthopedic braces & support products, significant number of sports-related injuries in the country, active public participation in physical activities, and the presence of major manufacturers in the region are driving the growth of the market in North America.

The major players operating in this market are Bauerfeind AG (Germany), Össur Hf (Iceland), DJO Finance LLC (US), Breg, Inc. (US), and DeRoyal Industries, Inc. (US). Other prominent players operating in this market include Bird & Cronin, Inc. (US), medi GmbH & Co. KG (Germany), Ottobock Holding GmbH & Co. KG (Germany), BSN medical (Germany), Zimmer Biomet Holdings, Inc. (US), Oppo Medical, LLC (US), Becker Orthopedic (US), Thuasne Group (France), 3M Company (US), Reh4Mat (Poland), and United Ortho (US).

Growth in the OTC braces and supports market is primarily driven by the growing public awareness related to preventive care, increasing prevalence of orthopedic diseases & disorders, and the rising number of sports and accident-related injuries.

The OTC Orthopedic Braces Market is projected to reach USD 1.5 billion by 2024 from USD 1.2 billion in 2019, at a CAGR of 5.1% during the forecast period.

Market Dynamics 

+ Drivers

+ Increasing Prevalence of Orthopedic Diseases and Disorders
+ Continuous Product Commercialization
+ Greater Product Affordability and Market Availability
+ Rising Number of Sports and Accident-Related Injuries
+ Growing Public Awareness Related to Preventive Care
+ Promotion and Branding Initiatives Undertaken By Major Product Manufacturers

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Soft & elastic braces are the most common bracing & support products in orthopedics. They are easy to use, flexible, provide unrestricted patient mobility, and are highly customizable, as compared to other surgical alternatives. The large share of this segment is attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative & preventive care, and the supportive reimbursement scenario for target products across mature markets.

Pharmacies & retailers offer orthopedic bracing and support products for preventive care, post-operative rehabilitation, fracture recovery, and physiotherapy. These products are prefabricated and do not require alterations in their specification (such as length, girth, or screwing) to align them with the patient’s body. 

View complete press release:-
https://www.marketsandmarkets.com/PressReleases/otc-orthopedic-braces.asp

Orthopedic Braces & Supports is an organized study of the Orthopedic Braces & Supports market, comprising an in-depth analysis of regional break down of the market and competitive landscape in Orthopedic Braces & Supports industry.  This report will help a business management or organization for making informative decisions.

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The Orthopedic Braces & Supports market research report gives information about predictable trends in purchases, sales, price, and demand, so that organization experts can make productive decisions concerning different operations to increase the profit rate.

The report provides in-depth analysis of the changing market trends and current situations of the market and demand which can help organization make important changes in production method to increase the growth and profit in less time.

The report covers the various aspects of the market from ground level, starting from the definition, and moving towards various standards based on which the market is classified and its main applications.

It assesses the Orthopedic Braces & Supports industry through an analysis of the industry chain, industry policies and plans, a detailed look into the products in the market, their manufacturing chain, cost structure, etc. The regional markets for Orthopedic Braces & Supports are examined by evaluating their product price and profit, production volume and efficiency in its utilization, supply and demand logistics, and the historical growth rate of the industry in that region.

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The research report elaborates upon the competitive landscape of the Orthopedic Braces & Supports market in the world by profiling the major participants of the market in order to identify the leading players in the market. It thus assists current market players, consultants, and stakeholders operating in the market to work out crucial strategies and make rewarding decisions.

Results obtained from analytical tools such as investment feasibility analysis and investment return analysis reveal market attractiveness, while SWOT analysis of the major leading market players reveals winning market strategies and the most recent hierarchy in the Orthopedic Braces & Supports market.

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