Global OTC Braces & Supports Market by Product, Category, Application, Distribution, and Region - Forecast to 2024

8/6/2019, 7:31 PM (Source: GlobeNewswire)

Dublin, Aug. 06, 2019 (GLOBE NEWSWIRE) -- The "OTC Braces and Supports 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" report has been added to ResearchAndMarkets.com's offering.

The global OTC braces and supports market is expected to reach USD 1,547.4 million by 2024 from USD 1,204.4 million in 2019, at a CAGR of 5.1%.

The growth in this market is majorly driven by the increasing prevalence of orthopedic diseases & disorders, rising number of sports and accident-related injuries, and growing public awareness related to preventive care. However, the limited patient qualification for bracing-mediated orthopedic treatment, limited clinical evidence to support the therapeutic efficacy of orthopedic braces, and the high adoption of pain medications are expected to restrain the growth of this market during the forecast period.

The major players operating in this market are DJO Global (US), ssur 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), Reh4Mat (Poland), 3M Company (US), Zimmer Biomet Holdings, Inc. (US), DeRoyal Industries, Inc. (US), Bird & Cronin, Inc. (US), Becker Orthopedic (US), and United Ortho (US).

Soft & elastic braces and supports segment to witness the highest growth in the OTC braces and supports market, by type, between 2019 & 2024

The soft & elastic braces and supports segment is estimated to grow at the highest CAGR during the forecast period. Growth in this market can primarily be attributed to the growing availability of advanced products, increasing adoption & patient preference for orthopedic braces in post-operative and preventive care, and the supportive reimbursement scenario for target products across mature markets. This market is further driven by the branding initiatives performed by key market players and the growing affordability of soft braces.

The pharmacies and retailers segment accounted for the largest share of the OTC braces and supports market, by distribution channel, in 2018

The pharmacies & retailers segment accounted for the largest share of the OTC braces and supports market in 2018. The large share of this segment is attributed to the wide availability of orthopedic bracing products through retailers & pharmacies, rising adoption of off-the-shelf products for sprain in major countries (as a result of the ease of product access to patients through retailers & pharmacies), growing public awareness about the clinical benefits of orthopedic braces in preventive care, and increasing product commercialization by key market players.

The Asia Pacific market to register the highest CAGR during the forecast period

The OTC braces and supports market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period, majorly due to the increasing prevalence of orthopedic & diabetes-related conditions, favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 OTC Braces and Supports: Market Overview
4.2 Asia Pacific: OTC Braces and Supports Market, By Distribution Channel
4.3 Market, By Product
4.4 Market Share, By Type and Region (2019)
4.5 Market, By Application
4.6 Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Prevalence of Orthopedic Diseases and Disorders
5.2.1.2 Continuous Product Commercialization
5.2.1.3 Greater Product Affordability and Market Availability
5.2.1.4 Rising Number of Sports and Accident-Related Injuries
5.2.1.5 Growing Public Awareness Related to Preventive Care
5.2.1.6 Promotion and Branding Initiatives Undertaken By Major Product Manufacturers
5.2.2 Restraints
5.2.2.1 Limited Options to Customize OTC Orthopedic Braces and Supports
5.2.2.2 Limited Clinical Evidence to Support the Efficacy of Orthopedic Braces
5.2.3 Opportunities
5.2.3.1 Increased Sales of Off-The-Shelf Products Through E-Commerce Platforms
5.2.4 Challenges
5.2.4.1 Significant Adoption of Pain Medications
5.2.4.2 Limited Reimbursement Coverage
5.3 Regulatory Scenario
5.4 Roadmap: Future Changes in the OTC Braces & Supports Market

6 OTC Braces and Supports Market, By Product
6.1 Introduction
6.2 Knee Braces and Supports
6.2.1 Rise in Geriatric and Obese Populations is A Key Driver of Market Growth
6.2.1.1 Knee Braces and Supports Market, By Type
6.2.1.2 Knee Braces and Supports Market, By Application
6.2.1.3 Knee Braces and Supports Market, By Distribution Channel
6.3 Ankle Braces and Supports
6.3.1 Wide Use in Preventive Care Applications has Driven Product Demand
6.3.1.1 Ankle Braces and Supports Market, By Type
6.3.1.2 Ankle Braces and Supports Market, By Application
6.3.1.3 Ankle Braces and Supports Market, By Distribution Channel
6.4 Foot Walkers and Orthoses
6.4.1 Increasing Incidence of Foot Injuries is Driving Market Growth
6.4.1.1 Foot Walkers and Orthoses Market, By Type
6.4.1.2 Foot Walkers and Orthoses Market, By Application
6.4.1.3 Foot Walkers and Orthoses Market, By Distribution Channel
6.5 Back, Hip, & Spine Braces and Supports
6.5.1.1 Back, Hip and Spine Braces and Supports Market, By Type
6.5.1.2 Back, Hip and Spine Braces and Supports Market, By Application
6.5.1.3 Back, Hip and Spine Braces and Supports Market, By Distribution Channel
6.5.2 Lower Spine Braces & Supports
6.5.2.1 Favorable Reimbursement Scenario and Increasing Patient Base Will Ensure Sustained Demand for Market Offerings
6.5.2.1.1 Lower Spine Braces and Supports Market, By Type
6.5.2.1.2 Lower Spine Braces and Supports Market, By Application
6.5.2.1.3 Lower Spine Braces and Supports Market, By Distribution Channel
6.5.3 Neck and Cervical Braces and Supports
6.5.3.1 Growing Product Demand is Linked to Rising Participation in Extreme Sports
6.5.3.1.1 Neck and Cervical Braces and Supports Market, By Type
6.5.3.1.2 Neck and Cervical Braces and Supports Market, By Application
6.5.3.1.3 Neck and Cervical Braces and Supports Market, By Distribution Channel
6.6 Shoulder Braces and Supports
6.6.1 Product Development and Commercialization Will Fuel Market Growth in This Segment
6.6.1.1 Shoulder Braces and Supports Market, By Type
6.6.1.2 Shoulder Braces and Supports Market, By Application
6.6.1.3 Shoulder Braces and Supports Market, By Distribution Channel
6.7 Elbow Braces and Supports
6.7.1 Limitations and Preference for Surgeries and Medications have Restrained Demand for Elbow Braces & Supports
6.7.1.1 Elbow Braces and Supports Market, By Type
6.7.1.2 Elbow Braces and Supports Market, By Application
6.7.1.3 Elbow Braces and Supports Market, By Distribution Channel
6.8 Hand & Wrist Braces and Supports
6.8.1 Increasing Number of Road Accident & Sports Injuries are Contributing to Market Growth
6.8.1.1 Hand & Wrist Braces and Supports Market, By Type
6.8.1.2 Hand & Wrist Braces and Supports Market, By Application
6.8.1.3 Hand & Wrist Braces and Supports Market, By Distribution Channel
6.9 Facial Braces and Supports
6.9.1 Lack of Credible Evidence on Therapeutic Efficiency has Restrained Market Growth
6.9.1.1 Facial Braces and Supports Market, By Type
6.9.1.2 Facial Braces and Supports Market, By Application
6.9.1.3 Facial Braces and Supports Market, By Distribution Channel

7 OTC Orthopedic Braces and Supports Market, By Type
7.1 Introduction
7.2 Soft & Elastic Braces and Supports
7.2.1 Advantages of Soft & Elastic Braces and Supports have Fueled Their Adoption Over Other Product Types
7.3 Hard & Rigid Braces and Supports
7.3.1 Rising Prevalence of Target Diseases Supporting Market Growth
7.4 Hinged Braces and Supports
7.4.1 Rising Geriatric Population and Increasing Number of Knee Injuries to Support Market Growth

8 OTC Braces and Supports Market, By Application
8.1 Introduction
8.2 Ligament Injury Repair
8.2.1 Anterior Cruciate Ligament Injuries
8.2.1.1 Rising Participation in Sports Such as Football, Basketball, and Skiing to Increase the Incidence of ACL Injuries
8.2.2 Lateral Collateral Ligament Injury
8.2.2.1 Limited Clinical Evidence to Support the Therapeutic Efficacy of Knee Braces in LCL Treatment to Subdue Market Growth
8.2.3 Other Ligament Injuries
8.3 Preventive Care
8.3.1 Availability of Credible Clinical Evidence to Support the Clinical Efficacy of OTC Braces and Supports in Preventive Care to Support Market Growth
8.4 Post-Operative Rehabilitation
8.4.1 Increasing Number of Orthopedic Reconstructive Surgeries to Support Market Growth
8.5 Osteoarthritis
8.5.1 Rising Public Awareness on the Side-Effects of Oral Medications for Pain Management has Driven the Use of Braces & Supports
8.6 Compression Therapy
8.6.1 Development of Technologically Advanced Compression Braces to Support Market Growth
8.7 Other Applications
8.7.1 Dearth of Medical Reimbursements for Target Applications to Hamper Market Growth

9 OTC Braces and Supports Market, By Distribution Channel
9.1 Introduction
9.2 Pharmacies & Retailers
9.2.1 Pharmacies & Retailers Dominate the Market
9.3 E-Commerce Platforms
9.3.1 E-Commerce is Fast Emerging as A Major Distribution Channel for Various Orthopedic Bracing & Support Products
9.4 Orthopedic Clinics
9.4.1 Rising Number of Ambulatory Care Units Across Mature Markets is Supporting the Growth of This Segment

10 OTC Braces and Supports Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Increasing Number of Sports-Related Injuries and Strong Presence of Market Players Driving the US Market
10.2.2 Canada
10.2.2.1 Rising Incidences of Bone-Related Degenerative Diseases to Drive the Demand for Orthopedic Braces & Supports in Canada
10.3 Europe
10.3.1 Germany
10.3.1.1 Favorable Outlook in Germany has Supported Product Commercialization
10.3.2 UK
10.3.2.1 Market Growth in the UK is Mainly Driven By the Increasing Number of Sports Injuries
10.3.3 France
10.3.3.1 High Obese and Geriatric Populations in France Will Drive Demand for Braces & Supports
10.3.4 Italy
10.3.4.1 Increasing Public Awareness About Preventive Care for Musculoskeletal Injuries to Drive Market Growth
10.3.5 Spain
10.3.5.1 Increasing Market Availability of Orthopedic Braces and Supports to Drive the Market Growth
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.1.1 Japan Dominates the APAC OTC Braces and Supports Market
10.4.2 China
10.4.2.1 Expansion in Target Patient Population and Modernization of Healthcare Facilities to Drive the Market Growth
10.4.3 India
10.4.3.1 Growing Number of Hip & Knee Surgeries to Support Market Growth
10.4.4 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.1.1 Increasing Incidence of Hip Fractures Driving Market Growth
10.5.2 Mexico
10.5.2.1 Rising Orthopedic Degenerative Diseases to Support Market Growth
10.5.3 Rest of Latin America
10.6 Middle East & Africa

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.3 Competitive Scenario
11.3.1 Key Product Launches
11.3.2 Key Expansions
11.3.3 Key Mergers and Acquisitions
11.3.4 Key Partnerships, Agreements, and Collaborations
11.4 Competitive Leadership Mapping
11.4.1 Vendor Inclusion Criteria
11.4.1.1 Visionary Leaders
11.4.1.2 Innovators
11.4.1.3 Dynamic Differentiators
11.4.1.4 Emerging Companies

12 Company Profiles
12.1 3M Company
12.2 Alcare Co. Ltd.
12.3 Bauerfeind AG
12.4 Bird and Cronin, Inc. (A Part of Dynatronics Corporation)
12.5 Breg, Inc.
12.6 Bsn Medical (A Part of Svenska Cellulosa Aktiebolaget)
12.7 DJO Finance LLC (A Subsidiary of Colfax Corporation)
12.8 Deroyal Industries, Inc.
12.9 Medi GmbH & Co. KG
12.10 ssur HF
12.11 Ottobock Healthcare (A Part of Ottobock Group Scandinavia)
12.12 Remington Products Company
12.13 Thuasne Group
12.14 Trulife
12.15 Zimmer Biomet Holdings, Inc.

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