OTC Braces & Supports Markets 2020-2025 and Impact of COVID-19
DUBLIN, Aug. 12, 2020 /PRNewswire/ -- The "OTC Braces & Supports Market by Product (Knee, Ankle, Spine, Shoulder, Neck, Elbow, Wrist, Facial), Application (Ligament (ACL, LCL), Preventive, OA, Compression), Distribution (Hospitals, Clinics, Pharmacies, E-Commerce) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global OTC orthopedic braces and supports market size is projected to reach USD 759 million by 2025 from USD 572 million in 2020, at a CAGR of 5.8%.
The growth in the OTC orthopedic braces and supports market is majorly driven by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability and market availability, rising number of sports and accident-related injuries, growing public awareness related to preventive care, increased sales of off-the-shelf and online products, and promotion and branding initiatives undertaken by major product manufacturers. However the limited clinical evidence to support the efficacy of orthopedic braces & supports, and significant adoption of pain medications are expected to restrain the growth of this market during the forecast period.
The recent COVID-19 global pandemic has also impacted the OTC orthopedic braces and supports market. Demand from the main end-users has declined significantly as key regions and countries have imposed social distancing rules and lockdowns. This impact is expected to be short-term, and no adverse effects are to be foreseen after the market gradually reopens.
The knee braces and supports segment to witness the highest growth rate in the OTC orthopedic braces and supports market, by product, during the forecast period.
The knee braces and supports segment is expected to witness the highest growth rate during the forecast period. The high growth in this segment can be attributed 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.
The preventive care segment accounted for the largest share of the OTC orthopedic braces and supports market, by application, in 2019.
The preventive care segment accounted for the largest share of the OTC orthopedic braces and supports industry in 2019. The large share of this segment is attributed to the growing public participation in sports and the rising availability of OTC bracing products for preventive care & ambulatory procedures.
The pharmacies & retailers segment accounted for the largest share of the OTC orthopedic braces and supports market, by distribution channel, in 2019
The pharmacies & reatilers segment accounted for the largest share of the OTC orthopedic braces and supports industry in 2019. Market growth can largely be attributed to the wide availability of orthopedic bracing products through retailers & pharmacies and the rising adoption of off-the-shelf products for sprain & ligament injuries in major countries.
The Asia Pacific market to grow at the highest CAGR during the forecast period.
The orthopedic braces and supports market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period majorly due to the significant prevalence of orthopedic & diabetes-related diseases in this population segment, increasingly localized product manufacturing, favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries.
The major players operating in the orthopedic braces and supports market are Ossur 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), Mueller Sports Medicine (US), Neo G (UK), 3M Company (US), Zimmer Biomet Holdings, Inc. (US), DeRoyal Industries, Inc. (US), Bird & Cronin, Inc. (US), Becker Orthopedic (US), and Trulife (Ireland).
Research Coverage
This report studies the OTC orthopedic braces and supports market based on the product, application, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Orthopedic Braces and Supports Market Overview
4.2 Asia Pacific: Orthopedic Braces and Supports Market, By Distribution Channel
4.3 Orthopedic Braces and Supports Market, By Product
4.4 Orthopedic Braces and Supports Market, By Type
4.5 Orthopedic Braces and Supports Market, By Application
4.6 Orthopedic Braces and Supports 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
5.2.2 Restraints
5.2.2.1 Limited Patient Qualification for Bracing-Mediated Orthopedic Treatment
5.2.2.2 Limited Clinical Evidence to Support the Therapeutic Efficacy of Orthopedic Braces
5.2.3 Opportunities
5.2.3.1 Increased Sales of Off-the-Shelf and Online Products
5.2.3.2 Promotion and Branding Initiatives Undertaken By Major Product Manufacturers
5.2.4 Challenges
5.2.4.1 Significant Adoption of Pain Medications
5.3 Reimbursement Scenario
5.4 Regulatory Scenario
5.5 COVID-19 Impact
6 Orthopedic Braces and Supports Market, By Product
6.1 Introduction
6.2 Knee Braces and Supports
6.3 Ankle Braces and Supports
6.4 Foot Walkers and Orthoses
6.5 Back, Hip, and Spine Braces and Supports
6.6 Shoulder Braces and Supports
6.7 Elbow Braces and Supports
6.8 Hand & Wrist Braces and Supports
6.9 Facial Braces & Supports
7 Orthopedic Braces and Supports Market, By Type
7.1 Introduction
7.2 Soft & Elastic Braces and Supports
7.3 Hard Braces and Supports
7.4 Hinged Braces and Supports
8 Orthopedic Braces and Supports Market, By Application
8.1 Introduction
8.2 Ligament Injury
8.3 Preventive Care
8.4 Post-Operative Rehabilitation
8.5 Osteoarthritis
8.6 Compression Therapy
8.7 Other Applications
9 Orthopedic Braces and Supports Market, By Distribution Channel
9.1 Introduction
9.2 Orthopedic Clinics
9.3 Hospitals & Surgical Centers
9.4 Pharmacies & Retailers
9.5 E-Commerce Platforms
9.6 Other Distribution Channels
10 Orthopedic Braces and Supports Market, By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Latin America
10.6 Middle East & Africa
11 Competitive Landscape
11.1 Overview
11.2 Global Market Share Analysis (2019)
11.3 Competitive Scenario (2014 - 2019)
11.3.1 Key Product Launches (2014-2019)
11.3.2 Key Expansions (2015-2019)
11.3.3 Key Mergers and Acquisitions (2015-2019)
11.3.4 Key Partnerships (2015-2019)
11.4 Competitive Leadership Mapping
11.5 Vendor Inclusion Criteria
11.5.1 Visionary Leaders
11.5.2 Innovators
11.5.3 Dynamic Differentiators
11.5.4 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 Deroyal Industries, Inc.
12.8 DJO Finance LLC (a Subsidiary of Colfax Corporation)
12.9 Medi GMBH & Co. KG
12.1 Ossur HF
12.11 Ottobock Healthcare (a Part of Ottobock Group Scandinavia)
12.12 Remington Products
12.13 Thuasne
12.14 Trulife
12.15 Zimmer Biomet Holdings, Inc.
12.16 Other Companies
12.16.1 FLA Orthopedics
12.16.2 McDavid
12.16.3 Aspen Medical Products, LLC
12.16.4 Nippon Sigmax Co. Ltd.
12.16.5 Mueller Sports Medicine, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xg3cbi
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article