Hyderabad, India, July 17,2019- Market Overview:
OTC orthopedic braces are more popular among geriatric population. A rising percentage of bone-degenerative diseases, obesity in the individuals requires OTC orthopedic brace to support and help in proper functioning of the body. Individuals are greatly participating in the sports activities to keep themselves healthy. This elevates the chances of knee dislocation or wrist or shoulder dislocation. Therefore, OTC orthopedic brace is particularly playing their role in the world. OTC orthopedic brace can be easily accessible through e-commerce. Noninvasive treatment is getting more popular among individuals. The global OTC braces and support market is expected to reach USD 1.42 billion by 2023 from USD 1.05 billion in 2018, at a CAGR of 5.2% during 2018 to 2023.
Market drivers and restraints:
Increasing demand for OTC orthopedic braces among the geriatric population is estimated to fuel the global OTC orthopedic braces market. Rising occurrences of the bone-degenerative diseases, obesity, and other diseases is estimated to boost the global market growth in the coming future. Easy availability of OTC orthopedic braces through e-commerce is also estimated to drive the global market. Moreover, acceptance of the orthopedic braces as a preventive measure is positively impacting the global OTC orthopedic braces market growth. Rising youth participation in the sports activities and elevating occurrences of orthopedic injuries in them may open up new growth opportunities in the world market.
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Report segmented as:
By indication:
osteoarthritis (OA)
prophylactic
injury
others
By type:
back & hip braces
knee braces
upper extremity braces
lower extremity braces
elbow braces
foot & ankle braces
wrist braces
shoulder braces
other
Geographical analysis:
North America accommodated for the highest market share in the world OTC orthopedic braces market due to rising geriatric population in this region. This trend is followed by Europe due to increasing occurrences of osteoporosis, obesity, and osteoarthritis; this is estimated to fuel the global market growth in near future. Rising participation in the sports activities also fuels the market demand in this region.
Important market players:
Some of the major participants operating in the global OTC orthopedic braces market include Medi GmbH & Co. KG, Ossur HF, OTTO Bock Healthcare, Deroyal Industries, Bauerfeind AG, Breg, Inc, 3M Company, BSN Medical, and DJO Finance.
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