According to the new market research report “Orthopedic Braces and Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Neck, Elbow, Hand, Wrist), Category (Soft, Hard, Hinged), Application (Ligament (ACL, LCL), Preventive, OA), Distribution (Hospital) & Region – Global Forecast to 2025″, published by MarketsandMarkets™, is estimated to be USD 3.1 billion in 2020 and projected to reach USD 4.1 billion by 2025, at a CAGR of 5.8 %.

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The Increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability & market availability, rising number of sports and accident-related injuries, and growing public awareness related to preventive care are the key factors driving the growth of the orthopedic braces and supports industry.

The otc braces and supports market includes major Tier I and II suppliers like DJO Finance LLC (US), Össur Hf (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), and DeRoyal Industries, Inc. (US). These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. Demand for orthopedic braces and supports from key end-users has significantly declined amidst the global COVID-19 pandemic. Industry experts believe that COVID-19 will have short-term negative growth for the orthopedics and supports market in 2020, but will experience normal growth as the market gradually steadies by the end of 2020.

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Demand for knee braces and supports among medical professionals and athletes is expected to result in the segment occupying the majority of the market share

The knee braces and supports market is estimated to have the largest market share by value. Growth of this segment can be attributed to the growing demand for knee braces & supports among medical professionals and athletes and favorable reimbursement scenario for knee braces in developed countries. Moreover, growing geriatric & obese population (which are at a higher risk of developing osteoarthritis and other knee-related conditions), and the increasing number of sports injuries is expected to drive the market growth.

Lower spine braces estimated to be the largest and fastest-growing market

Lower spine braces are estimated to be the largest and fastest-growing segment in the Orthopedic Braces And Supports Market. The growth of this segment can be attributed to the rising incidence of lower spine disorders and the growing number of hip & disc replacement surgeries (which utilize lower spine braces and supports for post-operative rehabilitation).

North America is estimated to be the largest market due to the continuous development and commercialization of novel orthopedic braces & support products, favorable reimbursements & insurance coverage for major orthopedic bracing procedures, supportive government regulations for product commercialization, and significant sports participation.

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Asia Pacific likely to emerge as the largest Orthopedic Braces And Supports Market, globally

Asia Pacific is estimated to be the fastest-growing market for orthopedic braces and supports during the forecast period. The Asia Pacific market is driven principally by the rising geriatric and obese population (coupled with the significant prevalence of orthopedic & diabetes-related diseases in this population segment), increasing GDP and healthcare expenditure in APAC countries, and growing public awareness. Furthermore, increasingly localized product manufacturing, favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries are aiding the market growth.

DJO Finance LLC (US), Össur Hf (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), and DeRoyal Industries, Inc. (US)  are the key players in the global Orthopedic 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 are driving the growth of the OTC braces and supports market.

How much is the OTC Orthopedic Braces Market worth?

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%. Growth in the 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. North America is expected to register the highest growth rate during the forecast period mainly due to continuous development and commercialization of novel orthopedic braces.

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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 orthotic braces 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.

Soft & elastic braces and supports segment to register the highest growth in the orthotic braces 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 orthopedic braces market, by application, in 2018

Preventive care is the largest application segment of the OTC orthopedic braces 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

This report covers the market across five major geographies, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Of the five geographic regions studied in the report, North America is expected to register the highest growth rate during the forecast period mainly due to continuous development and commercialization of novel orthopedic braces.

Geographically, the orthotic braces market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest share of the market in 2019. Factors such as continuous development and commercialization of novel orthopedic braces & support products, growing awareness about the effective use of prophylactic braces among people participating in sports, and the greater adoption of prophylactic braces during other physical activities (such as dancing) are driving the market for OTC braces and supports in North America.

Leading Companies

The major players in the market include 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).

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Orthopedic Braces, Support Casting and Splints Market is estimated to value over USD 2.4 billion by 2027 end and register a CAGR of over 6.3% during the forecast period 2020 to 2027.

The report initiates from the outline of business surroundings and explains the commercial summary of chain structure. Moreover, it analyses forecast by product type, by application, by region and Orthopedic Braces, Support Casting and Splints Market Trends.

Additionally, this report illustrates the corporate profiles and situation of competitive landscape amongst numerous associated corporations including the analysis of market evaluation and options associated with the worth chain. This report provides valuable insights on the general market profit through a profit graph, an in depth SWOT analysis of the market trends along side the regional proliferation of this business vertical.

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Market Segmentation:

This Market is divided By Product Type, By Application and By Region.

Regionally, the worldwide Orthopedic Braces, Support Casting and Splints Market is fragmented as North America, Europe, Asia Pacific and also the rest of the world.

Key Market Players:

Major market players enclosed within this market are  DJO, Ottobock, Ossur, 3M Company, Bauerfeind, DeRoyal, Medi GmbH & Co., Zimmer, Lohmann & Rauscher, Breg .

 (Note: The list of the key players are going to be updated with the most recent market scenario and trends)

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FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key trends
• Key data-points touching market growth

Competitive Landscape:

• Tier 1 players- well-established companies in the market accounting a major market share  
• Tier 2 players 
• Rapidly growing players
• New Entrants

Objectives of the Study:

• To offer with an complete analysis on the Orthopedic Braces, Support Casting and Splints Market by product type, by application and by region.
• To cater comprehensive data on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To measure and forecast micro-markets and also the overall market
• To predict the market size, in key regions — North America, Europe, Asia Pacific and rest of the world
• To record and evaluate the competitive landscape mapping - product launches, technological advancements, mergers and expansions

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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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“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.

“Soft & elastic braces and supports segment to register the highest growth in the OTC braces and supports market, by type, 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.

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