OTC Orthopedic Braces Market

OTC Orthopedic Braces Market Headed for Growth and Global Expansion by 2024
Orthopedic braces are devices which are used to support and control the joints of the body. The
braces can be used on the ankle, knee, hip, back, neck, elbow, fingers, and wrist. Orthopedic braces
are used to control the position of limbs and initiate specific movement or motion in the body. Also,
the braces can be compensated for weak muscles and to correct structural deformities. Orthopedic
braces are used extensively for diagnosis of cerebral palsy, spina bifida, spinal cord injury, scoliosis,
and to deal with after stroke effects. Braces are also used after surgeries on knee joints in order to
keep the joints immobile and control motion until the joints recover. Many people use braces for
extra support to prevent injuries to joints. Athletes such as football and rugby players’ particularly
use braces to prevent injuries. The sophisticated designs, cost effectiveness, and easy availability
are driving the growth of the OTC orthopedic braces market. Custom braces and relevant designs
can increase the cost of braces which may restrain the OTC orthopedic braces market growth rate
during the forecast period.
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Orthotics is an example which is more than a shoe inserts. Orthotics manufacture and design
orthoses which modifies the structure and function of the skeletal and neuromuscular system of the
body. Demand for orthopedic braces has increased due to increase in the geriatric population,
obesity, rising public participation in sports, orthopedic injuries among younger population, and rise
in incidence of bone -degenerative diseases, all of which are driving growth in the OTC orthopedic
braces market. According to the American Journal of Orthopedics, August 2016, osteoarthritis is a
leading cause of disability among middle-aged and older adults, affecting nearly 27 million
Americans. Increase in aging of the baby boomer population and rising obesity rates are estimated
to increase osteoarthritis by 40% by 2025.
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Moreover, noninvasive nature of treatment using orthopedic braces and supports, reduced
reimbursements offered during orthopedic surgery in developed regions such as North America and
Europe are expected to propel the growth opportunities for sports players representing at a global,
national or state level. High patient preference for alternative treatments, supports in prophylactic
and rehabilitative use and lack of customization options for OTC orthopedic braces can hamper the
growth of the global OTC orthopedic brace market during the forecast period.
The OTC orthopedic braces market has been segmented by product type, indication, end-users, and
geography. In terms of product type, the OTC orthopedic braces market is classified into foot &
ankle braces, upper extremity braces, knee braces, and spinal orthoses braces. In terms of indication
type, the market is classified into injury, arthritis, prophylactic, and others. According to the
professor of Boston University School of Medicine, knee osteoarthritis is progressive damage to
joint cartilage which leads to weakened muscles, pain and swelling. People who wore knee braces
reduced pain by about 40% over 6 weeks. In terms of end users, the OTC orthopedic braces market
is classified into orthopedic clinics, hospitals, pharmacies, and others. Geographically, the OTC
orthopedic braces market is classified into North America, Latin America, Europe, Asia Pacific, and
Middle East & Africa.
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Geographically North America dominates the global OTC orthopedic braces reagents market due to
increase in obesity, increase in sports activity, and rise in aging population. Reduced
reimbursement policy for surgeries and low cost of braces is expected to drive the OTC orthopedic
braces reagents market in North America. Europe is the second largest market for OTC orthopedic
braces reagents as there are favorable government policies regarding healthcare infrastructure and
awareness programs. Asia Pacific is expected to grow at a higher rate due to rising population,
changing lifestyles, rising interest in sports activity among the population, and increasing per capita
expenditure. In addition, economic growth is supporting healthcare infrastructure improvement in
developing countries such as Brazil, India, and China. Thus, all these factors collectively support
the growth of the OTC orthopedic braces reagents market in Asia Pacific and Latin America.
The major players operating in the global OTC orthopedic braces reagents market include ALCARE
Co., Ltd., DJO Finance LLC, DeRoyal Industries Inc., Ossur hf., Breg, Inc., 3M Company, Otto
Bock HealthCare, Bauerfeind AG, BSN Medical, medi GmbH & Co. KG, and Thuasne Group.
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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative
insights, historical data, and verifiable projections about market size. The projections featured in the
report have been derived using proven research methodologies and assumptions. By doing so, the
research report serves as a repository of analysis and information for every facet of the market,
including but not limited to: Regional markets, technology, types, and applications.