OTC Braces and Supports Market

The global OTC braces and supports market was valued at $649.71 million in 2019, and is estimated to reach $991.80 million by 2030, growing at a CAGR of 5.0% from 2021 to 2030.

The OTC braces and supports market is impacted due to the COVID-19, resulting in negative growth due to factors such as a sharp decline in elective surgeries and ban on organized sports

OTC braces and supports 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 can be used to treat an injury. In addition, OTC braces and supports offer users with more comfort while walking as well as help reduce pain, assist in limb movement, and minimize swelling & inflammation. Most importantly, they allow users to work and move independently. Moreover, it is used for a variety of medical conditions and are designed for different degrees of support or protection.

Growing incidences of orthopedic disorders, increase in the public awareness pertaining to preventive care, and surge in the cases of accident & injuries in sports will boost the growth of the OTC braces and supports market over the upcoming years. Apart from this, rise in the cases of osteoporosis will boost the product sales in the near future. Furthermore, the easy availability of the products through online retail stores will boost the market growth over the forecast period. However, significant adoption of pain medications and limited patient awareness for bracing-mediated orthopedic treatment will hamper the market growth.

The OTC orthopedic braces and supports market is impacted due to the pandemic, resulting in negative growth due to factors such as a sharp decline in elective surgeries and ban on organized sports. Moreover, orthopedic clinics were temporarily closed, and hospital access restricted to non-essential care. Thus, limited access to clinics, social distancing, the lockdown of the population, which results in less trauma and workplace injuries, and slow-down in patient flow and referrals has also impacted the market growth.

Otc Braces And Supports Market Segmentation

The global OTC braces and supports market is segmented into product, type, application, distribution channel and region. By Product, the market is categorized into ankle braces & supports, knee braces & supports, facial braces & supports, upper extremity braces & support and back, hip, and spine braces & supports. By type, the market is bifurcated into soft & elastic braces and supports, hard braces & supports and hinged braces & supports. By application, it is divided into a ligament injury repair, osteoarthritis, preventive care and others. By distribution channel, the market is bifurcated into orthopedic clinics, retail pharmacies and others. 

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Segment review

Depending on product, the knee braces and supports segment dominated the market in 2019, and is expected to continue this trend throughout the forecast period. This is attributed to the to the several benefits offered by these products, such as medial & lateral support, reduced rotation of the knee, limited injury during motion, and protection from the post-surgical risk of injury. On the basis of type, the soft and elastic braces and supports segment dominated the market in 2019, and is expected to continue this trend throughout the forecast period. The large share of this segment is attributed to the growing public awareness regarding OTC braces and support and increase in prevalence of orthopedic diseases & disorders.  

North America accounted for a major share in the OTC braces and supports market in 2019, and is expected to maintain its dominance during the forecast period, owing to its well-established healthcare infrastructure, 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. However, Asia-Pacific is expected to register highest CAGR from 2021 to 2030, owing to increase in awareness regarding benefits of orthopedic braces, development in health care infrastructure, and rise in the number of hospitals equipped with advanced medical facilities boost the market growth in this region.

Some of the major companies that operate in the global OTC braces and supports market are 3M company, Alcare CO., LTD., Bauerfeind AG, Bird And Cronin, INC. (a part of Dynatronics Corporation), Breg, INC., BSN Medical (a part of Svenska Cellulosa Aktiebolaget), Deroyal Industries, INC., DJO finance LLC, Medi GMBH and CO. KG, Thuasne SA.

Key Benefits For Stakeholders

•  The study provides an in-depth analysis of the OTC braces and supports market, and the current trends and future estimations to elucidate the imminent investment pockets.
•  It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities.
•  Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
•  Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

 OTC Braces and Supports Market Report Highlights