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OTC Braces and Supports Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Jun 2021 | 174 Views
 
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Braces tend to be used for a variety of medical conditions and are designed for different degrees of support or protection. They are primarily concerned with giving support structurally, functionally or for re-positioning and stabilization of the joints. Generally, support braces or splints are used in the field of orthopedics as a result of aging in conditions, such as osteoarthritis, due to traumatic injuries, or in sports injuries were they may be used to treat an injury. In cases, such as ankle braces and knee braces, supports are often used to prevent injury or with pre-existing sports injuries to prevent a recurrence of the knee or ankle injury. There are different type of braces and supports such as soft & elastic braces and support, hinged braces and support, and hard & rigid braces and support. Fabric-based knee braces and prophylactic braces are prescribed for instability following bone or soft tissue injuries to the knee. Soft and elastic braces are the most common bracing & support products in orthopedics. These are easy to use, flexible, provide unrestricted patient mobility, and are highly customizable as compared to other surgical alternatives.

OTC-Braces-and-Supports

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

  Type, Application, Product

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

Breg, Inc., DJO Finance LLC, Bauerfeind AG, DeRoyal Industries, Inc., Össur Hf, Oppo Medical, Inc., Zimmer Biomet Holdings, Inc., Ottobock Holding GmbH & Co. KG, Bird & Cronin, Inc., Reh4Mat, 3M Company, Medi GmbH & Co. KG, BSN Medical, Thuasne Group, Becker Orthopedic, and United Ortho

 

COVID-19 scenario analysis:

  • To take care of infected population, the demand for medical supplies is increasing. Respiratory support devices, such as atomizer, life-support machine, oxygen generator, and monitor, are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies, such as personal protective equipment, including masks, gloves, and protective eyeglasses. 
  • With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. 
  • It may affect the availability of daily use medical devices as the import export between countries is also affected due to the pandemic. Majority of healthcare, pharmaceutical, and biotechnology organizations have concentrated on diagnostics kits, safety wearables (PPE kits, face shields, masks), treatment therapies, and medication to fight against novel coronavirus. Therefore, there may be a possibility that the OTC braces and support market may witness negligence. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Growth in the market is primarily driven by the rise in public awareness related to preventive care and increase in prevalence of orthopedic diseases & disorders. In addition, the geriatric population is considered as one of the highest contributors to orthopedic braces and supports as the elderly population is highly susceptible to musculoskeletal disorders. Bones and connecting tissues, such as ligaments and cartilages, naturally weaken with age, especially in women. Sports-related injuries are rising with the growing number of sports activities. Nowadays, athletes are more focused on fitness-related activities such as running, cycling, and others. While gaining health benefits through such activities, they are likely to sustain injuries, which can further lead to ligament injury. Indoor athletes are at high risk for ankle ligament tear. Therefore, they are expected to generate substantial demand for ankle braces. In addition, ankle braces are recommended by orthopedicians post an acute ankle sprain. Advancements in braces and support products and their benefits are expected to foster the OTC braces and support market. 

New product launches to drive the market

In 2017 DJO Global, Inc. launched the new UltraSling Quadrant, a patent-pending shoulder orthosis that provides four angles of immobilization in one brace for optimal versatility and a unique feature that allows the patient to flex and extend their arm, promoting therapeutic movement. In addition to its four angles of immobilization, several unique features set UltraSling Quadrant apart. ProTherapy is a precision-based system that enhances the rehabilitation process by allowing patients to flex and extend their arm, which promotes therapeutic movement throughout recovery. UltraSling Quadrant also provides single-handed, patient-friendly application for ease of use, which improves the patient experience and promotes compliance. TempGuard, a cool-to-the-touch anti-microbial material, adds extraordinary comfort, especially for those who require extended use. Polar Care Wave, a product of Breg Inc., combines motorized cold therapy with active compression in a simple and compact system, making it ideal for facility and home use. It can be easily transported from the hospital, physical therapy clinic or athletic training room to the patient’s home, extending the benefits of cold and compression. It is designed to reduce pain and edema to optimize patient recovery. Motorized cold therapy and compression devices, such as Polar Care Wave, can decrease narcotic use post-operatively. With the advancement in OTC braces and supports, the product demand is increasing among people, thereby helping the market to grow proficiently.  

Key segments covered:

Segments

Sub-segments

  Type

  • Soft & Elastic Braces and Support
  • Hinged Braces and Support
  • Hard & Rigid Braces and Support

  Application

  • Preventive Care
  • Ligament Injury Repair
  • Post-Operative Rehabilitation
  • Osteoarthritis
  • Compression Therapy
  • Others

  Product

  • Ankle Braces and Supports
  • Hand & Wrist Braces and Support
  • Foot Walkers and Orthoses
  • Knee Braces and Supports
  • Shoulder Braces and Support
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the OTC braces and supports market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the OTC braces and supports market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the OTC braces and supports market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the OTC braces and supports market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?   
 
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