(PharmaNewsWire.Com, September 05, 2019 ) According to the new market research “OTC Orthopedic Braces Market by Product (Knee, Ankle, Spine, Shoulder, Neck, Elbow, Wrist, Facial), Category, Application (Ligament (ACL, LCL), Preventive, OA, Compression), Distribution (Clinics, Pharmacies, E-Commerce) - Global Forecast to 2024", analyzes and studies the major market drivers, restraints/challenges, and opportunities. The OTC braces and supports market is projected to reach USD 1.5 billion by 2024 from USD 1.2 billion in 2019, at a CAGR of 5.1% during the forecast period.
The global OTC Orthopedic Braces market is segmented based on product, category, application and distribution.
Knee braces are utilized as a follow-up treatment post knee surgery associated with injuries such as sprained medial knee ligament, patella tendonitis, torn knee cartilage, knee arthritis, and runner’s knee. The high growth of the knee braces and supports segment can be attributed to the rising geriatric & obese population (who are at a higher risk of developing osteoarthritis and other knee-related conditions), the 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 post-surgical risk of injury.
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Soft & elastic braces are the most common bracing & support products in orthopedics. They are easy to use, flexible, provide unrestricted patient mobility, and are highly customizable, as compared to other surgical alternatives. The large share of this segment is attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative & preventive care, and the supportive reimbursement scenario for target products across mature markets.
Pharmacies & retailers offer orthopedic bracing and support products for preventive care, post-operative rehabilitation, fracture recovery, and physiotherapy. These products are prefabricated and do not require alterations in their specification (such as length, girth, or screwing) to align them with the patient’s body. Therefore, medical supervision or the presence of an orthopedic technician is not required for their administration. The growth in this market is 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.
Market Players
The key players in the OTC Orthopedic Braces market are Breg, Inc. (US), DJO Finance LLC (US), Bauerfeind AG (Germany), DeRoyal Industries, Inc. (US) and Össur Hf (Iceland) are the top five players in the market. Other prominent players operating in this market include Oppo Medical, Inc. (US), Zimmer Biomet Holdings, Inc. (US), Ottobock Holding GmbH & Co. KG (Germany), Bird & Cronin, Inc. (US), Reh4Mat (Poland), 3M Company (US), medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Becker Orthopedic (US), and United Ortho (US).
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