(PharmaNewsWire.Com, November 25, 2020 ) Growth in the OTC orthopedic braces and supports market is driven primarily by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, market availability & product affordability, rising number of sports & accident-related injuries, and growing public awareness related to preventive care are driving the growth of the orthopedic braces and supports market.
The OTC Orthopedic Braces Market is estimated to be $572 million in 2020 and projected to reach $759 million by 2025, at a CAGR of 5.8%.
Demand for knee braces and supports among medical professionals and athletes is expected to result in the segment occupying the majority of the OTC orthopedic braces and supports market share
Lower spine braces estimated to be the largest and fastest-growing market
Lower spine bracesare estimated to be the largest and fastest-growing segment in the orthopedic braces and supports market. The growth of this segment can be attributed tothe rising incidence of lower spine disorders and the growing number of hip & disc replacement surgeries (which utilize lower spinebraces and supports for post-operative rehabilitation).
Asia Pacific likely to emerge as the largest OTC orthopedic braces and supports market, globally
Asia Pacific is estimated to be the fastest-growing market for OTC orthopedic braces and supports during the forecast period. The Asia Pacific market is driven principally by the rising geriatric and obese population (coupled with the significant prevalence of orthopedic& diabetes-related diseases in this population segment), increasing GDP and healthcare expenditure in APAC countries, and growing public awareness.
3M (US), Bauerfeind AG (Germany), DJO Finance LLC (US), BSN Medical (Germany), and ÖssurHf (Iceland) are the key players in the global orthopedic braces and supports market.
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