The global OTC braces and supports market was valued at 1.43 (USD Billion) in 2018 and is expected to be valued at 1.7 (USD Billion) in 2025 at a CAGR of 5.5%.
The global OTC braces and supports market was valued at 1.43 (USD Billion) in 2018 and is expected to be valued at 1.7 (USD Billion) in 2025 at a CAGR of 5.5%. The report covers estimation and analysis of OTC braces and supports market on a global as well as regional level. The study provides an in-depth evaluation of the market completion, business rivalry, opportunities, trends, and industry-validated market data. The report also gives historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion).
Growing incidences of orthopedic disorders, increase in the public awareness pertaining to preventive care, and surge in the cases of accident & injuries in sports will boost the growth of the OTC braces and supports industry over the upcoming years. Apart from this, rise in the cases of osteoporosis will boost the product sales in the near future. Furthermore, the easy availability of the products through online retail stores will boost the business growth over the forecast period. However, high product costs and rapidly changing compensation policies will inhibit the business growth over the forecast timeframe.
Application-wise, the market is segmented into Preventive Care, Ligament Injury Repair, Post-Operative Rehabilitation, Compression Therapy, Osteoarthritis, and Other Applications.
Based on the Product, the OTC braces and supports market is divided into Ankle Braces & Supports, Foot Walkers & Orthoses, Hip, Back, & Spine Braces and Supports, Knee Braces & Supports, Shoulder Braces & Supports, Elbow Braces & Supports, Hand & Wrist Braces and Supports, and Facial Braces & Supports. Apparently, knee braces & supports segment is slated to register highest gains over the forecast period due to rise in the aging population prone to suffer from osteoarthritis & other knee-related disorders.
On the basis of Type, the OTC braces and supports industry is segregated into Soft & Elastic Braces and Supports, Hinged Braces & Supports, and Hard & Rigid Braces and Supports. Additionally, Soft & elastic braces and supports segment is anticipated to account for the major market share over the forecast timespan. The growth is attributed to the beneficial product features like flexibility and offering facility of unrestrained mobility for the patients.
Based on the Distribution Channel, the market is divided into Pharmacies, Clinics, and E-Commerce. Moreover, pharmacies segment is anticipated to contribute majorly towards the overall market share with large number of pharmacies providing orthopedic bracing and support items for purpose of post-operative rehabilitation, fracture recovery physiotherapy, and preventive care.
Key players influencing the growth of the market include DJO Finance LLC, Breg, Inc., DeRoyal Industries, Inc., Össur Hf, and Bauerfeind AG are the leading companies in the OTC braces and supports market. Other major players involved in the business are Zimmer Biomet Holdings, Inc., Oppo Medical, Inc., Bird & Cronin, Inc., medi GmbH & Co KG, Otto Bock Holding GmbH & Co KG, The 3M Company, Reh4Mat, BSN medical, Becker Orthopedic, Thuasne Group, and United Ortho.
The report segments global OTC braces & supports market as follows:
Global OTC Braces & Supports Market: Product Segment Analysis
Global OTC Braces & Supports Market: Type Segment Analysis
Global OTC Braces & Supports Market: Application Segment Analysis
Global OTC Braces & Supports Market: Regional Segment Analysis
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