The major factors driving the growth of the OTC braces and supports 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.
What the Market Looks Like?
Predicted to grow at a CAGR of 5.1% during the forecast period, the global OTC Orthopedic Braces marketis estimated to reach USD 1.5 billion by the end of 2024.
“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.
“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.
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Geographical growth scenario of OTC Orthopedic Braces Market
The OTC braces and supports market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest share of the OTC braces and supports market in 2018.
Leading market players
The prominent players in the OTC Orthopedic Braces 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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