OTC Braces and Supports Market | Ongoing Trends and Recent Developments | Major Key Players like Bauerfeind AG (Germany), Össur Hf (Iceland), DJO Finance LLC (US)

Factors such as the increasing prevalence of orthopedic diseases & disorders, rising number of sports & accident-related injuries, and growing public awareness related to preventive care are driving the growth of the OTC Braces and Supports. However, the limited clinical evidence to support the efficacy of orthopedic braces & supports and significant adoption of pain medications are expected to restrain the growth of this market to a certain extent during the forecast period.

What the Market Looks Like?

Predicted to grow at a CAGR of 5.1% during the forecast period, the global OTC Braces and Supports market is estimated to reach USD 1.5 Billion by the end of 2024. North America accounted for the largest share of the OTC Braces and Supports in 2018.

The knee braces and supports segment accounted for the largest share of the OTC Braces and Supports, 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

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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Preventive care is the largest application segment of the OTC Braces and Supports, 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.

What Drives the Market?

The growth of the global market for OTC Braces and Supports is primarily influenced by the following factors:

• 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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Geographical growth scenario of OTC Braces and Supports Market:

The OTC Braces and Supports 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 in 2018. 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.

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Leading market players and strategies adopted:

The prominent players in the OTC Braces and Supports market include C 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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