Global OTC Braces & Supports Market Size, Share & Industry Trends Analysis Report By Distribution Channel, By Product, By Application (Preventive Care, Osteoarthritis, Ligament Injury Repair, Compression Therapy), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the OTC Braces & Supports Market
Market Report Description
The Global OTC Braces & Supports Market size is expected to reach $1.3 billion by 2028, rising at a market growth of 6.1% CAGR during the forecast period.
OTC braces are typically used to immobilize joints so that they can heal in a useful posture. In this manner, the proper quantity of blood flow is provided to the tendons, muscles, and ligaments, and movements that can aggravate or worsen pre-existing injuries are avoided. The correct bracing can occasionally even assist with regaining a complete range of motion following surgery.
In the field of orthopedics, over-the-counter braces & supports are used to treat injuries that occur due to trauma, age, osteoarthritis, and sports-related injuries. Additionally, over-the-counter braces and supports give consumers greater comfort when walking and aid in pain relief, limb mobility assistance, and the reduction of swelling and inflammation. Most notably, they enable independent work and movement for users. Also, they are made for varying degrees of support or protection and are utilized for a wide range of medical issues.
Growing cases of orthopedics problems, rising public awareness of preventative treatment, and an increase in sports-related accidents and injuries will all contribute to the OTC braces & supports the market's expansion over the next years. In addition, the rise in osteoporosis cases will increase product sales. Additionally, the products through online retail outlets are widely accessible.
COVID-19 Impact Analysis
The COVID-19 outbreak has affected every sector of the industry globally, including the market for OTC braces & supports. Because of the devastating effects of the pandemic on the economy and consumers' purchasing power, there is a significant regional variance in the demand for OCT braces & supports. Unprecedented limitations and disruptions in commercial and personal activities have resulted from the global spread of COVID-19. For instance, numerous governments issued "stay-at-home" directives for private and local activities. COVID-19 also had an effect on the purchasing power and habits of consumers, declining the sale of OTC braces & supports.
Market Growth Factors
Rising prevalence of orthopedic conditions
The incidence of serious orthopedic conditions is on the rise all over the world, and orthopedic injuries are a major cause for concern when it comes to public health. The growing rates of osteoarthritis, osteoporotic fractures, rheumatoid arthritis, and carpal tunnel syndrome are some of the variables that are contributing to this cause for concern. The growing number of obese people around the world is another important indicator. Obese people have a significantly increased risk of developing orthopedic and musculoskeletal ailments as well as diabetes.
Increased sales through offline as well as e-commerce platforms
OTC braces are progressively being sold by retail outlets (off-the-shelf) and e-commerce websites because their use does not require supervision. Patients frequently utilize devices of this kind to protect themselves from becoming hurt. Online sales, increased reimbursement, and insurance coverage is all supported by governments and insurance agencies in major countries because of their growing recognition of the effective patient care delivered by such products. Due to the need for product customization or modification based on patient characteristics, certain OTC braces may only be worn under the supervision of medical professionals or orthopedic technicians.
Market Restraining Factors
Lack of patient qualification
Physicians and orthopedic surgeons regard bracing and support items to be clinically required for some circumstances in order to manage orthopedic ailments and diseases. However, patients may not be eligible for bracing products in some circumstances (depending on the severity of the condition, its complications, the patient's physiology, and age). Major end-user institutions like hospitals, surgery centers, and orthopedic clinics) in developed nations are progressively adopting innovative OTC braces.
Distribution Channel Outlook
On the basis of distribution channel, the OTC braces & supports market is divided into pharmacies & retailers, e-commerce platforms, and orthopedic clinics & hospitals. The pharmacies & retailers segment registered the maximum revenue share in the OTC braces & supports market in 2021. The wide availability of orthopedic devices and products through retailers and pharmacies, the rising acceptance of ready-to-use products for ligament sprains and foot injuries in most countries (due to ease of access), and the growing public awareness and acceptance of the advantages of OTC braces used in preventive care are the main factors driving the development of this market segment.
Based on product, the OTC braces &supports market is segmented into knee braces & supports, ankle braces & supports, foot walkers & orthoses, back, hip & spine braces & support, shoulder braces & supports, elbow braces & supports, hand/wrist braces & supports and facial braces & supports. The ankle braces & supports acquired a significant revenue share in the OTC braces & supports market in 2021. Ankle braces are helpful for preventing inversion and aversion sprains while still enabling the foot to flex for everyday activities like walking or even jogging.
By application, the OTC braces & supports market is fragmented into preventive care, ligament injury repair, osteoarthritis, compression therapy and other applications. In 2021, the preventive care segment held the largest revenue share in the OTC braces & supports market. The growing geriatric population, easy access to over-the-counter bracing devices, increasing public participation in sports and athletic activities, and general prevention following orthopedic surgical operations are all reasons that support market growth for OTC braces & supports in this segment.
|Market size value in 2021||USD 898.4 Million|
|Market size forecast in 2028||USD 1.3 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 6.1% from 2022 to 2028|
|Number of Pages||267|
|Number of Tables||419|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, Application, Distribution Channel, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region wise, the OTC braces & supports market is analyzed across the North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region led the OTC braces & supports market by generating maximum revenue share. The development and commercialization of novel, beneficial orthopedic equipment, adequate insurance and payment plans for major orthopedic surgery procedures, government-supported rules for product supply and marketing, and involvement in sports are all contributing factors to market growth.
Free Valuable Insights: Global OTC Braces & Supports Market size to reach USD 1.3 Billionn by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, Essity AB, Ossur Hf., Ottobock SE & Co. KGaA, Bauerfeind AG, Nippon Seiki Co., Ltd., Zimmer Biomet Holdings, Inc., Becker Orthopedic, DJO Global and Breg, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
- Pharmacies & Retailers
- E-Commerce Platforms
- Orthopedic Clinics & Hospitals
- Knee Braces & Supports
- Ankle Braces & Supports
- Hand/Wrist Braces & Supports
- Back, Hip & Spine Braces and Supports
- Shoulder Braces & Supports
- Elbow Braces & Supports
- Foot Walkers & Orthoses
- Preventive Care
- Ligament Injury Repair
- Compression Therapy
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 3M Company
- Essity AB
- Ossur Hf.
- Ottobock SE & Co. KGaA
- Bauerfeind AG
- Nippon Seiki Co., Ltd.
- Zimmer Biomet Holdings, Inc.
- Becker Orthopedic
- DJO Global
- Breg, Inc.
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