COVID-19 UPDATE: Global OTC Braces Market 2020 Analysis Focusing On Top Companies like Breg, Ossur, Bauerfeind AG, BSN medical, DJO, 3M, Ottobock, DeRoyal, medi, Thusane, Alcare, Zimmer Biomet

Data Bridge Market Research has added an exhaustive research study of the OTC braces market detailing every single market driver and intricately analyzing the business vertical. The research report has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Research report presents a complete assessment of the Market and contains a future trend, current growth factors, attentive opinions, facts, and industry validated market data. Some are the key players taken under coverage for this study are 3M, ALCARE Co., Ltd., Bauerfeind, Bird & Cronin LLC, DJO LLC, Breg, Inc., BSN medical, Henry Schein, Inc., DeRoyal Industries, Inc., medi Deutschland, Össur Corporate, Ottobock, Remington Products

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OTC braces market is analysed by Data Bridge Market Research, wherein we have accounted for the market to witness a growth rate of 7.10% in the forecasted period of 2020 to 2027, with the market expected to reach a capitalization of USD 7473.6 million. Steady growth witnessed across the prevalence of orthopedic disorders and diseases amongst the population worldwide along with the increasing volume of injuries being caused by sports and physical contacts; these factors are acting as drivers for OTC braces market.

Global OTC Braces Market By Product (Knee Braces, Ankle Braces, Foot Walkers & Orthoses, Back, Hip & Spine Braces, Shoulder Braces, Elbow Braces, Hand & Wrist Braces, Facial Braces), Indication (Osteoarthritis, Injury, Prophylactic, Others), Type (Soft & Elastic Braces, Hard & Rigid Braces, Hinged Braces), Application (Ligament Injury Repair, Preventive Care, Post-Operative Rehabilitation, Osteoarthritis, Compression Therapy, Others), Distribution Channel (Pharmacies & Retailers, E-Commerce, Orthopedic Clinics), End User (Hospitals, Home Healthcare, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East & Africa), Industry Trends and Forecast to 2027

OTC braces are orthopedic products available over-the-counter on various distribution channels without any requirement of prescription or healthcare expertise for its usage. These braces are developed to provide high levels of support and applicable functionality to the individual without requiring any healthcare expertise so that they can purchase and implement these products with utmost ease and comfort.

Increasing levels of initiatives and awareness programs established by the authorities and market players to spread awareness and ensure that the required products are easily available in an affordable manner, these factors are acting as vital growth drivers for OTC braces market.

Lack of alternatives or customization of products in terms of OTC braces along with the lack of evidence for supporting the healthcare efficacy of these products; these factors in combination are restricting the growth for OTC braces market in the forecasted period of 2020 to 2027.

This OTC braces market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research OTC braces market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Major Market Competitors/Players: 

The major players covered in the OTC braces market report are 3M, ALCARE Co., Ltd., Bauerfeind, Bird & Cronin LLC, DJO LLC, Breg, Inc., BSN medical, Henry Schein, Inc., DeRoyal Industries, Inc., medi Deutschland, Össur Corporate, Ottobock, Remington Products, TRULIFE, Zimmer Biomet, THUASNE SA, OPPO MEDICAL INC., McDavid among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), South America and Middle East and Africa (MEA) separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Market Definition: 

Osteoarthritis causes inflammation in joints which restricts our body to move, mainly in arthritis joint, ankle, knee, shoulder and wrist may get affected. Braces are non-surgical treatments to relieve discomfort and disability in arthritis recommended by orthopeadician.  Braces are having benefits like enhanced stability, reduced swelling, reduced pressure and increase confidence. There are four type of braces which include prophylactic, supportive, rehabitative and offloader.

OTC   braces   market is growing tremendously. For instance, according National Ambulatory Medical Care Survey, in 2010 there were an estimated 63 million visits to nonfederally employed, office-based physicians specializing in orthopedic surgery in the United States.

There have been tremendous technological advancements in the field of orthopaedics in the last decade, For instance, ankle support with compression gel insert features anatomically contoured compression gel insert pads to provide targeted, precise compression to support weak or injured soft tissue around the joint.

Competitive Analysis: 

The global OTC   braces   market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of OTC   braces   market for global, Europe, North America, Asia Pacific and South America.

Major Market Drivers and Restraints:

Rising prevalence of orthopaedic diseases & disorders
Rapid growth in the geriatric population
Development of specialized OTC orthopaedic braces   and support products
Growing affordability and Availability of OTC orthopaedic braces
Increasing number of sports and accident-related injuries
Limited options to customize OTC orthopaedic braces   & supports

Market Segmentation: 

The global OTC   braces   market is segmented based on the product type, end user, distribution channel and geographical segments.
Based on product type market is segmented into upper extremity, lower limb neck and spine, pelvis-hip-femur. Whereas from these product segment is expected to grow in coming year due to rapid growth in the geriatric population.
On the basis of end user market is segmented into hospitals, clinics, home healthcare and other end-users.
On the basis of distribution channel market is segmented into orthopedic clinics, hospitals, over the counter (OTC), E-commerce, prescription.
Based on geography the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa.

Key Developments in the Market: 

In December 2015, VeriTeQ Corporation announced that it has entered into a definitive agreement to acquire all of the membership interests of The Brace Shop LLC, a full service retailer of orthopedic braces, physical therapy and rehabilitation equipment with unaudited annual revenues as reported by management of The Brace Shop being approximately USD 7 Million for the year ended December 31, 2014. The Brace Shop has been operating for over 15 years and is based in Boca Raton, Florida.
In October 2017, Sanomedics announced that it has reached a definitive agreement to acquire all of the membership interests of The Brace Shop LLC, a full service retailer of orthopedic braces, physical therapy and rehabilitation equipment with annual revenues of in excess of USD 7 million.

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