New York, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "OTC Braces & Supports Market by Product, Distribution - Global Forecast to 2025" - https://www.reportlinker.com/p04826731/?utm_source=GNW
. 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 during the forecast period.
The recent COVID-19 global pandemic has also impacted the OTC orthopedic braces and supports market.Demand from the main end-users has declined significantly as key regions and countries have imposed social distancing rules and lockdowns.
This impact is expected to be short-term, and no adverse effects are to be foreseen after the market gradually reopens.
The knee braces and supports segment to witness the highest growth rate in the OTC orthopedic braces and supports market, by product, during the forecast period.
The knee braces and supports segment is expected to witness the highest growth rate during the forecast period. The high growth in this segment can be attributed to the several benefits offered by these products, such as medial & lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury.
The preventive care segment accounted for the largest share of the OTC orthopedic braces and supports market, by application, in 2019.
The preventive care segment accounted for the largest share of the OTC orthopedic braces and supports industry in 2019. The large share of this segment is attributed to the growing public participation in sports and the rising availability of OTC bracing products for preventive care & ambulatory procedures.
The pharmacies & retailers segment accounted for the largest share of the OTC orthopedic braces and supports market, by distribution channel, in 2019
The pharmacies & reatilers segment accounted for the largest share of the OTC orthopedic braces and supports industry in 2019. Market growth can largely be attributed to the wide availability of orthopedic bracing products through retailers & pharmacies and the rising adoption of off-the-shelf products for sprain & ligament injuries in major countries.
The Asia Pacific market to grow at the highest CAGR during the forecast period.
The orthopedic braces and supports market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period majorly due to the significant prevalence of orthopedic & diabetes-related diseases in this population segment, increasingly localized product manufacturing, favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries.
Breakdown of supply-side primary interviews:
• By Company Type: Tier 1: 48%, Tier 2: 36%, and Tier 3: 16%
• By Designation: C-level: 10%, D-level: 14%, and Others: 76%
• By Region: North America: 40%, Europe: 32%, APAC: 20%, Latin America: 5%, and the Middle East & Africa: 3%
The major players operating in the orthopedic braces and supports market are Össur Hf (Iceland), Breg, Inc. (US), Bauerfeind AG (Germany), Ottobock Holding GmbH & Co. KG (Germany), medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Mueller Sports Medicine (US), Neo G (UK), 3M Company (US), Zimmer Biomet Holdings, Inc. (US), DeRoyal Industries, Inc. (US), Bird & Cronin, Inc. (US), Becker Orthopedic (US), and Trulife (Ireland).
Research Coverage
This report studies the OTC orthopedic braces and supports market based on the product, application, end user, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders.
Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the OTC orthopedic braces and supports market, and high-growth regions and their drivers, restraints, opportunities, and challenges. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
Read the full report: https://www.reportlinker.com/p04826731/?utm_source=GNW
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The global OTC orthopedic braces and supports market size is projected to reach USD 759 million by 2025 from USD 572 million in 2020, at a CAGR of 5.8%
The growth in the OTC orthopedic braces and supports market is majorly driven by the increasing prevalence of orthopedic diseases & 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, increased sales of off-the-shelf and online products, and promotion and branding initiatives undertaken by major product manufacturers.
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