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 are wearable medical devices that provide appropriate alignment, positional correction, supporting the muscles, stabilizing and protecting several parts of the body that mainly includes joints, bones, and muscles. These devices are mainly prescribed by orthopedics and orthotists to the patients who have suffered from major injuries and are used in prophylaxis of these damages. Orthopedic braces and support devices are used by patients immediately after the injury and are suggested to be worn throughout the course of hospitalization, and also during the rehabilitation. Orthopedic braces and facilitate specific motion and movements of certain body parts after injury that majorly involves knee, ankle, hip, elbow, neck wrist and fingers and are helpful in healing the deformities caused to an individual after various distressing events such as accidents, sport injuries, falls, fractures, sprains, and dislocations. Besides serving as healing aids, these braces can also be used as preventive wearable devices by athletes and any other sport players in order to keep injuries away.

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According to The National Institute of Health (NIH), in 2010, around 524 million people were registered to fall under the age group of 65 years and above, which accounts to 8% of the global population. This number is expected to rise by three times and rise up to 1.5 billion by 2050, which will account up to 16% of the global population. This suggests a high probability of increase in the incidence rates of diseases, specifically related to bones like that of osteoarthritis and osteoporosis. Hence, these patients can act as potential consumers of the increasing orthopedic braces and support market.

The global orthopedic braces and support market is segmented on the basis of utility and the functions, the orthopedic wearable braces can be majorly segmented into:

1. Lower extremity braces: These devices are used for lower parts of the body, namely knee, foot and ankle. These devices are usually advised by medical practitioners in cases where there is a necessity for immobilization of joints to treat fractures, one dislocation and ligament tears. These are especially recommended for use by patients who are involved in sports such as rugby and football.

2. Upper extremity braces: These devices are mainly used to treat patients with impairments caused in the upper part of the body. This includes wrist, elbows and shoulders. These devices are prescribed to patients usually suffering from inflammations and sprains. These are mostly utilized by people who are required to apply large pressures often on their wrists and shoulders like bodybuilders and weightlifters.

3. Back and hip braces: These devices are recommended to patients having issues with spinal cord and associated body parts. These are preferred by patients suffering from scoliosis or patients that have underwent in spine surgical procedures. These are also advised to people for posture correction and related issues.

4. Other braces: These devices includes neck, thigh, calf, groin, and other facial braces.

On the basis of end users, the orthopedic braces and support market are segmented into:

1. Orthopedic clinics

2. Over the counter (OTC)

3. Hospitals

4. Others

Prophylactic segment to be the largest share of the Orthopedic braces market.

The orthopedic braces market is divided into four segments namely of prophylactic, osteoarthritis, injury, and others. The estimates suggest largest share of the orthopedic braces market by the prophylactic braces segment in 2016. This large share of the prophylactic segment is majorly attributed to utilization of these braces in preventing injuries and reducing sports injury rates especially among the sports fraternity in the U.S. and other European countries. Over the counter is the preferred is the preferred sales channel in the global orthopedic braces and support market. The federal government of the US suggests an expected growth of 60% in 2020 in the costs for orthopedic surgeries.

North America to be the largest geographical segment in the orthopedic braces and support market

North America, followed by Europe was the largest revenue contributor in the global orthopedic braces and support market in 2016. Certain factors responsible for stimulating the growth of orthopedic braces in Asian countries such as China and India and also in Brazil are increasing GDP, growing healthcare spending, increasing public awareness regarding availability of various treatments, preventive measures adopted by the growing middle class population and change in lifestyle.

The major factors which is driving the orthopedic braces and support market are emerging technologies and innovation in surgical sectors that could provide same improvements, as compared to the orthopedic braces and supports and thus can prove to be potential challenge to the orthopedic braces and support market in the future. The market is mainly inhibited by low awareness about products, especially in emerging economies.

Several companies to adopt merger and acquisitions policies to expand its sales in the global orthopedic braces and supports market

The key players in the global orthopedic braces and support market are Ossur Corporate, Bauerfeind AG, DeRoyal Industries Inc., DJO Global, Inc., Breg Inc., BSN Medical GmbH and Otto Black Healthcare GmbH. Strategies such as merger and acquisition, partnership with associated companies has helped the aforementioned companies to stand out as strong competitors in the orthopedic braces and supports market.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Orthopedic braces are wearable medical devices that provide appropriate alignment, positional correction, supporting the muscles, stabilizing and protecting several parts of the body that mainly includes joints, bones, and muscles. These devices are mainly prescribed by orthopedics and orthotists to the patients who have suffered from major injuries and are used in prophylaxis of these damages. Orthopedic braces and support devices are used by patients immediately after the injury and are suggested to be worn throughout the course of hospitalization, and also during the rehabilitation. Click To Read More On Orthopedic Braces and Support Market.

Orthopedic braces and facilitate specific motion and movements of certain body parts after injury that majorly involves knee, ankle, hip, elbow, neck wrist and fingers and are helpful in healing the deformities caused to an individual after various distressing events such as accidents, sport injuries, falls, fractures, sprains, and dislocations. Besides serving as healing aids, these braces can also be used as preventive wearable devices by athletes and any other sport players in order to keep injuries away.

According to The National Institute of Health (NIH), in 2010, around 524 million people were registered to fall under the age group of 65 years and above, which accounts to 8% of the global population. This number is expected to rise by three times and rise up to 1.5 billion by 2050, which will account up to 16% of the global population. This suggests a high probability of increase in the incidence rates of diseases, specifically related to bones like that of osteoarthritis and osteoporosis. Hence, these patients can act as potential consumers of the increasing orthopedic braces and support market.

Prophylactic segment to be the largest share of the Orthopedic braces market.

The orthopedic braces market is divided into four segments namely of prophylactic, osteoarthritis, injury, and others. The estimates suggest largest share of the orthopedic braces market by the prophylactic braces segment in 2016. This large share of the prophylactic segment is majorly attributed to utilization of these braces in preventing injuries and reducing sports injury rates especially among the sports fraternity in the U.S. and other European countries. Over the counter is the preferred is the preferred sales channel in the global orthopedic braces and support market. The federal government of the US suggests an expected growth of 60% in 2020 in the costs for orthopedic surgeries.

North America to be the largest geographical segment in the orthopedic braces and support market

North America, followed by Europe was the largest revenue contributor in the global orthopedic braces and support market in 2016. Certain factors responsible for stimulating the growth of orthopedic braces in Asian countries such as China and India and also in Brazil are increasing GDP, growing healthcare spending, increasing public awareness regarding availability of various treatments, preventive measures adopted by the growing middle class population and change in lifestyle.

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The major factors which is driving the orthopedic braces and support market are emerging technologies and innovation in surgical sectors that could provide same improvements, as compared to the orthopedic braces and supports and thus can prove to be potential challenge to the orthopedic braces and support market in the future. The market is mainly inhibited by low awareness about products, especially in emerging economies.

Several companies to adopt merger and acquisitions policies to expand its sales in the global orthopedic braces and supports market

The key players in the global orthopedic braces and support market are Ossur Corporate, Bauerfeind AG, DeRoyal Industries Inc., DJO Global, Inc., Breg Inc., BSN Medical GmbH and Otto Black Healthcare GmbH. Strategies such as merger and acquisition, partnership with associated companies has helped the aforementioned companies to stand out as strong competitors in the orthopedic braces and supports market.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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