OTC Braces & Supports Market worth $1,286 million by 2027 - Exclusive Report by MarketsandMarkets™

News provided by

Oct 06, 2022, 08:30 ET

CHICAGO, Oct. 6, 2022 /PRNewswire/ -- The OTC Braces and Supports Market is valued at an estimated USD 942 million in 2022 and is projected to reach USD 1,286 million by 2027, at a CAGR of 6.4%, according to a new report by MarketsandMarkets™. Market growth is driven by the rising technological advancements in OTC braces and supports, increasing orthopedic disorders and the growing awareness of preventive diagnosis in developing countries. Emerging economies such as China, Japan, and India are providing lucrative opportunities for the players operating in the OTC braces and supports market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=113271585

Browse in-depth TOC on "OTC Braces and Supports Market"
137 – Tables
42 – Figures
274 – Pages

The knee braces and supports segment had the major share of the OTC braces and supports Market, by product, in 2021"
Based on product, the OTC braces and supports market is divided into knee, ankle; back, hip, & spine; foot walkers and orthoses; hand & wrist; shoulder; elbow; and facial braces and supports. Due to the numerous benefits these products offer, including medial and lateral support, reduced knee rotation, limited injury in motion, and as protection from risk of injury following surgery, the knee braces and supports segment is anticipated to have the highest growth during forecast period.

In 2021, preventive care segment accounted for the largest share in the market, by application"
Based on the application, the OTC braces and supports market is segmented into preventive care, ligament injury, osteoarthritis, compression therapy, and other applications. The preventive care segment is expected to command the largest share of the market in 2022. The large share of this segment can be attributed to increasing public participation in sports-related activities and rising off-the-shelf usage of bracing products for preventive care & ambulatory procedures.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=113271585

In 2021, pharmacies and retailers segment accounted for the largest share in the market, by distribution channel"
Based on the distribution channel, the OTC braces and supports market is classified into pharmacies & retailers, e-commerce platforms, orthopedic clinics and hospitals. Pharmacies and retailers are expected to be the largest distribution channel segment in the OTC braces and supports market. The growth of this market segment is majorly driven by the wide availability of orthopedic bracing products through retailers & pharmacies, rising adoption of off-the-shelf products for sprain & ligament injuries in major countries (due to easy access), and the growing public awareness about the clinical benefits of orthopedic braces in preventive care.

"North America accounted for the largest share of the otc braces and supports market "
The global otc braces and supports market is segmented into five major regions namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America held the biggest market share of the OTC braces and supports market in 2021. Market growth is attributed to the development and commercialization of novel orthopedic braces & support products, favorable reimbursements & insurance coverage for major orthopedic bracing procedures, supportive government regulations for product commercialization, and significant sports participation.
The major players operating in this market are 3M (US), DJO Global (US), Essity (Sweden), Zimmer Biomet Holdings, Inc (US), Ottobock Healthcare (Germany), Össur HF (Iceland), medi GmbH (Germany), DeRoyal Industries Inc (US), Bauerfeind AG (Germany), Bird & Cronin (US), Breg Inc. (US), Thuasne (France), TruLife Group (Ireland), Alcare (Japan), Prim SA (Spain), and Foundation Wellness (US).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=113271585

Browse Adjacent Market: Medical Devices Market Research Reports & Consulting

Related Reports:
Compression Therapy Market by Technique (Static, Dynamic), Product (Garments (Stockings, Bandages, Wraps), Ortho Braces, Pump), Application (Varicose Vein, DVT, Lymphedema, Leg Ulcer), Distribution (Clinics, Pharmacies, E-Comm) Global Forecast (2022 - 2026)

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/otc-orthopedic-braces-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/otc-orthopedic-braces.asp