OTC Braces & Supports Market worth $759 million by 2025 - Exclusive Report by MarketsandMarkets™

OTC Braces & Supports Market worth $759 million by 2025 - Exclusive Report by MarketsandMarkets™

PR Newswire

CHICAGO, July 23, 2020

CHICAGO, July 23, 2020 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets™, the OTC Braces & Supports Market is estimated to be $572 million in 2020 and projected to reach $759 million by 2025, at a CAGR of 5.8%.

MarketsandMarkets_Logo

Download PDF Brochure:

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

The Increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability & market availability, rising number of sports and accident-related injuries, and growing public awareness related to preventive care are the key factors driving the growth of the orthopedic braces and supports industry.

The OTC Orthopedic Braces And Supports Market includes major Tier I and II suppliers like 3M (US), Bauerfeind AG (Germany), DJO Finance LLC (US), BSN Medical (Germany), and ÖssurHf (Iceland). These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. Demand for orthopedic braces and supports from key end-users has significantly declined amidst the global COVID-19 pandemic. Industry experts believe that COVID-19 will have short-term negative growth for the OTC orthopedics and supports market in 2020, but will experience normal growth as the market gradually steadies by the end of 2020.

Browse  in-depth TOC on "OTC Braces and Supports Market"

280 – Tables

30 – Figures  

354 – Pages

Demand for knee braces and supports among medical professionals and athletes is expected to result in the segment occupying the majority of the OTC Orthopedic Braces And Supports Market share

The knee braces and supports marketis estimated to have the largest market share by value. Growth of this segment can be attributed to the growing demand for knee braces & supports among medical professionals and athletes andfavorable reimbursement scenario for knee braces in developed countries. Moreover, growing geriatric & obese population (which are at a higher risk of developing osteoarthritis and other knee-related conditions), and the increasing number of sports injuries is expected to drive the market growth.

Lower spine braces estimated to be the largest and fastest-growing market

Lower spine bracesare estimated to be the largest and fastest-growing segment in the Orthopedic Braces And Supports Market. The growth of this segment can be attributed tothe rising incidence of lower spine disorders and the growing number of hip & disc replacement surgeries (which utilize lower spinebraces and supports for post-operative rehabilitation). North America is estimated to be the largest market due to the continuous 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.

Get 10% Customization on this Research Report:

https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=113271585

Asia Pacific likely to emerge as the largest OTC Orthopedic Braces And Supports Market, globally

Asia Pacific is estimated to be the fastest-growing market for OTC orthopedic braces and supports during the forecast period. The Asia Pacific market is driven principally by the rising geriatric and obese population (coupled with the significant prevalence of orthopedic& diabetes-related diseases in this population segment), increasing GDP and healthcare expenditure in APAC countries, and growing public awareness. Furthermore, increasingly localized product manufacturing,favorable government regulations, and the focus of global product manufacturers on expanding their presence in APAC countries are aiding the market growth.

3M (US), Bauerfeind AG (Germany), DJO Finance LLC (US), BSN Medical (Germany), and ÖssurHf (Iceland) are the key players in the global Orthopedic Braces And Supports Market.

Browse Adjacent Markets: Medical Devices Market Research Reports & Consulting

Get Special Pricing on Bundle Reports:

https://www.marketsandmarkets.com/RequestBundleReport.asp?id=113271585

Browse Related Reports:

Compression Therapy Market by Technique (Static, Dynamic), Product (Garment (Stockings, Bandages, Wraps), Braces, Pump), Application (Varicose Vein, DVT, Lymphedema, Leg Ulcer), Distribution (Clinics, Pharmacies, E-Commerce) - Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/compression-therapy-market-146548022.html

Sports Medicine Market by Product (Body Reconstruction (Arthroscopy devices, Implants), Body Support & Recovery Products (Physiotherapy Equipment, Compression Clothing, Braces & Supports)), Application and Region - Global Forecasts to 2024

https://www.marketsandmarkets.com/Market-Reports/sports-medicine-devices-market-751.html

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' 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: sales@marketsandmarkets.com
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

 

Voltar noticias em Inglês