(PharmaNewsWire.Com, March 26, 2021 ) 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%.
OTC Orthopedic Braces and Support Market Dynamics
Driver: Increasing prevalence of orthopedic diseases and disorders
OTC Orthopedic braces and supports are increasingly being used during clinical management of various orthopedic diseases and disorders such as osteoarthritis, rheumatoid arthritis, osteoporotic fractures, and carpal tunnel syndrome. These products offer higher clinical efficacy and fast patient recovery compared to alternative therapies such as pain medications.
As of 2018, around 75 million individuals (aged 50 and over) had osteoporosis across the US, Europe, and Japan (Source: International Osteoporosis Foundation). Around 400,000 people in the UK have rheumatoid arthritis, data as of 2018 (Source: Arthritis Research UK).
The incidence of orthopedic diseases and disorders is expected to increase further in the coming years with the increasing prevalence of obesity and related lifestyle disorders, as obese individuals are at a higher risk of orthopedic & musculoskeletal injuries as well as diabetes.
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).
Restraint: Limited options to customize OTC orthopedic braces and supports
While customized and pre-fabricated braces are available on prescription worldwide, the currently available OTC braces are not as flexible. Patients with higher or lower arches, greater physical activity, specific shoe fit issues, or significant bone or tendon problems (as opposed to typical standards) mostly prefer prescription orthopedic braces (compared with OTC products).
Opportunity: Increased sales of off-the-shelf and online products
Specific orthopedic braces can only be used under the supervision of medical practitioners or orthopedic technicians as they require customization or product alternation according to patient features. However, some braces (such as ankle braces, wrist/hand braces, shoulder braces, elbow braces, and facial braces) are increasingly being sold through retailers (off-the-shelf), and e-commerce websites since their use do not require an authorization from medical professionals.
Challenge: Significant adoption of pain medications
Topical, oral, and parenteral pain medications are used widely for the effective management of pain associated with musculoskeletal disorders such as tendinitis, carpal tunnel syndrome, and osteoarthritis. Although orthopedic braces are used as part of a noninvasive approach for pain management during compression therapy (cold, hot, or conventional compression therapy), the adoption of pain medications for such applications is high owing to the low awareness about the benefits of orthopedic braces as well as the unfavorable reimbursement scenario for these products.
North America is the largest regional market for OTC Oorthopedic braces and supports
North America is one of the major revenue-generating regions in the OTC orthopedic braces and supports market. The favorable reimbursement & insurance coverage for major orthopedic bracing procedures and supportive government regulations for product commercialization are the major factors driving the growth of the OTC orthopedic braces and supports market in North America.
Key Market Players
3M (US), Bauerfeind AG (Germany), DJO Finance LLC (US),BSN Medical (Germany), and Össur Hf (Iceland) are the top five players in the global OTC orthopedic braces and supports market. Other prominent players operating in this market include Breg, Inc. (US), , DeRoyal Industries, Inc. (US), Zimmer Biomet Holdings, Inc. (US), Ottobock Holding GmbH & Co. KG (Germany), Bird & Cronin, Inc. (US), Neo G (UK), Mueller Sports Medicine (US), medi GmbH & Co. KG (Germany), BSN medical (Germany), Thuasne Group (France), Becker Orthopedic (US), and Trulife (Ireland).
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