Dublin, Oct. 26, 2022 (GLOBE NEWSWIRE) -- The "OTC Braces & Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Elbow, Hand, Wrist), Type (Soft, Rigid, Hinged), Application (Preventive, OA, Ligament Injury, Compression), Distribution (Pharmacies, E-com, clinics) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The OTC braces and supports market is valued at an estimated USD 942 million in 2022 and is projected to reach USD 1,286 million by 2027, at a CAGR of 6.4% during the forecast period. Growth in the otc braces and supports market is stimulated because of increase in cases of orthopedic diseases & disorders, continuity in product supply and marketing , better product prices and availability in the market, rise in number of sports and participation in sports, and growth in public awareness of preventive care. Other factors such as increased sales of over-the-counter and online products and marketing and educating initiatives undertaken by key product manufacturers will provide a huge growth and expansion opportunities for these players in the market.
The knee braces and supports segment accounted for the largest share of the otc braces and supports market, by product
Based on product, the otc braces and supports market is segmented into knee braces and supports; ankle braces and supports; back, hip, & spine braces and supports; foot walkers and orthoses; hand & wrist braces and supports; shoulder braces and supports; elbow braces and supports; and facial braces and supports. The knee braces and supports segment is expected to have the highest growth during the study period mainly as these products provide clinical and medical support, decrease the rotation of the knee, limit the harm due to motion, and protect from the post-surgical threat of injury.
Preventive Care captured the largest market share in the otc bracing and supports applications market
Based on the application, the otc braces and supports market is segmented into preventive care, ligament injury, osteoarthritis, compression therapy, and other applications. The preventive care segment is expected to have the largest share of the market in 2022. This large share is due to increase in quick and reliable availability of over the counter braces and growing public awareness about health.
Pharmacies & retailers to hold the largest market share in the global otc braces and supports market, by distribution channel
On the basis of the distribution channel, the otc braces and supports market is classified into pharmacies & retailers, e-commerce platforms, orthopedic clinics and hospitals. Pharmacies & retailers are expected to hold the largest share in the distribution channel segment in the otc braces and supports market in 2022. Market growth of this segment is highly attributed to large scale sourcing and availability of orthopedic bracing and support products in the retailers & pharmacies and increasing preference of off-the-shelf products for foot injuries in major countries (due to easy access).
Market Dynamics
Drivers
- 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 About Preventive Care
Restraints
- Limited Patient Qualification for Bracing-Mediated Orthopedic Treatment
- Limited Options to Customize OTC Braces and Supports
- Limited Clinical Evidence to Support Efficacy of Orthopedic Braces
Opportunities
- Increased Sales of Off-The-Shelf Products Through E-Commerce Platforms
- Expansion and Promotion Initiatives by Major Manufacturers
Challenges
- Significant Adoption of Pain Medication
- Limited Reimbursement Coverage
Lists of Companies Profiled in the Report:
- 3M Company (U.S.)
- Djo Global, Inc. (Enovis)
- Zimmer Biomet Holdings, Inc (U.S.)
- Ossur (Iceland)
- Ottobock Healthcare (Germany)
- Medi Gmbh & Co. Kg (Germany)
- Deroyal Industries, Inc. (U.S.)
- Bauerfeind Ag (Germany)
- Essity [Bsn Medical (Germany) & Fla Orthopedics (Us)]
- Bird & Cronin, Inc. (Us)
- Mueller Sports Medicine, Inc. (Us)
- Breg, Inc. (Us)
- Thuasne Group (France)
- Trulife Group Ltd (Ireland)
- Foundation Wellness (U.S.)
- Becker Orthopedic (Us)
- Neo G (Us)
- Frank Stubbs Company, Inc. (Us)
- Prim S.A. (Spain)
- Orliman S.L.U (Spain)
- Nippon Sigmax Co., Ltd. (Japan)
- Alcare Co., Ltd. (Japan)
- Mcdavid, Inc. (Us)
- United Medicare (India)
- Vissco Rehabilitation Aids Pvt. Ltd. (India)
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 OTC Braces and Supports Market, by Product
7 OTC Braces and Supports Market, by Type
8 OTC Braces and Supports Market, by Application
9 OTC Braces and Supports Market, by Distribution Channel
10 OTC Braces and Supports Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- 3M
- Alcare
- Bauerfeind Ag
- Becker Orthopedic
- Bird & Cronin
- Breg
- Deroyal Industries
- Djo LLC (Enovis)
- Essity
- Foundation Wellness
- Frank Stubbs Company
- Mcdavid
- Medi GmbH & Co. Kg
- Mueller Sports Medicine
- Neo G
- Nippon Sigmax
- Orliman S.L.U.
- Ottobock Healthcare
- Prim Sa
- Thuasne Group
- Trulife Group
- United Medicare
- Vissco Rehabilitation Aids
- Zimmer Biomet Holdings
- Ossur
For more information about this report visit https://www.researchandmarkets.com/r/wbhrdx
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