OTC Braces and Supports Market: Current Analysis and Forecast (2022-2028)

OTC Braces and Supports Market: Current Analysis and Forecast (2022-2028)

The OTC braces and supports market is expected to witness a CAGR of around 5% during the forecast period (2022–2028). The OTC (over the turn) braces and supports are medical devices, designed in a way that is used to properly align, correct the position, support, and protect certain body parts as they heal from trauma or injuries such as ankle & ligament injury, and knee injury & replacement. In addition, these braces are helpful in the treatment of various sports injuries such as ACL (anterior cruciate ligament) tears, hairline fractures, ankle sprains, hamstring strains, and tennis elbow Moreover, rising government expenditure or development of new technologies or products launching by the market players are also expected to drive the demand for OTC braces and supports over the forecast period. For instance, in September 2021, Össur HF launched the REBOUND ACL brace. This product is help patients recovering from anterior cruciate ligament (ACL) injury.

Some of the major companies operating in the OTC braces and supports market include 3M Company, ALCARE Co. Ltd., Bauerfeind Ag, Bird & Cronin LLC, Breg Inc., Deroyal Industries Inc., Medi GMBH & Co. Kg, Össur Hf, THUASNE SA., Zimmer Biomet

Insights Presented in the Report
"Amongst product, the ankle braces & supports category accounted for the significant share in the market in 2020”

Based on product, the OTC braces and supports market is segmented into knee braces & supports, ankle braces & supports, upper extremity braces & support, and others. Among these, the ankle braces & supports category is anticipated to witness a lucrative growth rate during the forecast period. This is mainly due to the rising trauma cases in the geriatric population, ligament injury repair, and osteoarthritis. Moreover, rising cases of osteoporosis across the globe are also contributing to the growth of this market during the forecast period. For instance, as per the International Osteoporosis Foundation (IOF), worldwide, osteoporosis causes more than 8.9 million fractures annually
"Amongst application, the preventive care category is expected to witness the significant CAGR during the forecast period”

Based on application, the OTC braces and supports market is segmented into ligament injury repair, osteoarthritis, preventive care, and others. The preventive care category is anticipated to witness a significant growth rate during the forecast period. This is mainly due to increasing cases of musculoskeletal injuries and the growing adoption of OTC braces and support products in preventive care. Moreover, back injuries, hip injuries, hand injuries, and ankle injuries because of fractures in sports activities or accident cases are also contributing to the growth of this market during the forecast period. For instance, as per the International Osteoporosis Foundation (IOF), annually around 8.9 million fracture cases are registered Worldwide.
"Amongst end-user, the hospitals & pharmacies category is expected to witness the significant CAGR during the forecast period”

Based on end-user, the OTC braces and supports market is segmented into orthopedic clinics, hospitals & pharmacies, and others. The hospitals & pharmacies category is anticipated to witness a considerable growth rate during the forecast period. This is mainly due to the treatment for fractures performed in the hospitals, and the availability of skilled healthcare professionals. Moreover, rising cases of non-fatal injuries in the industries due to falls, burns, being struck or crushed, fractures, and electric shocks are also contributing to the growth of this market during the forecast period. For instance, the Centers for Disease Control and Prevention (CDC), shows that 22,887,137 patients were estimated who reported to the emergency department for non-fatal injuries in 2020 in the U.S.
"North America to witness significant growth during the forecast period”

For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of North America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific) and Rest of World. North America accounted for a considerable market share during the forecast period. Owing to, the large hospital administration of the patients, rising demand for medical devices due to the surge of injuries or surgeries. Moreover, increasing cases of arthritis in the region will also drive the growth of the market during the forecast period in the region. For instance, the Centers for Disease Control and Prevention (CDC), estimates that 1 in 4 (or 54.4 million) US adults have some form of arthritis, a figure that is projected to reach 78 million by the year 2040.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Show more