An OTC orthopedic braces are used to provide support and help for proper functioning. OTC orthopedic braces have merely used by geriatric population but ring sports accidents are the reasons for increasing the adoption of OTC orthopedic braces. Also, the emergence of low-cost braces, new styles in OTC orthopedic braces on E-commerce platforms and high availability of orthopedic braces is supplementing overall growth of the market. However, the lack of medical infrastructure in many geographical regions and increasing adoption of pain killers and other pain medications for disease management are the factors that are hampering the market. Moreover, Rising promotional activities and continuously rising R&D activities by established players can create a new opportunity for the market. According to AMA Research, the market for OTC Orthopedic Braces is expected to register a CAGR of 6.98% during the forecast period to 2027.
This growth is primarily driven by Increasing Geriatric Population and Prevalence of Orthopedic Diseases & Disorders
|Value Unit||USD (Billion)|
|Key Companies in Study||DJO Finance LLC (United States), Breg, Inc. (United States), Ossur Hf (Iceland), DeRoyal Industries, Inc. (United States), Bauerfeind AG (Germany), Otto Bock Holding GmbH & Co. KG (Germany), BSN medical (Germany), medi GmbH & Co. KG (Germany), THUASNE Group (France) and 3M Company (United States)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
The Health Care Equipment sector in the region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region.
Major Players, such as DJO Finance LLC (United States), Breg, Inc. (United States), Ossur Hf (Iceland), DeRoyal Industries, Inc. (United States), Bauerfeind AG (Germany), Otto Bock Holding GmbH & Co. KG (Germany), BSN medical (Germany), medi GmbH & Co. KG (Germany), THUASNE Group (France) and 3M Company (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On February 2019, Össur Corporate has announced the acquisition of Royce Medical Holding Inc (an orthotics manufacturer based in Camarillo) in approximately USD 215 million. This is strategic acquisition as the company wants to maintain a strong position in the prosthetics market.
In 2020, Ottobock strengthened its distribution capabilities and improved access to mobility solutions at Cascade Orthopedic Supply, a major orthodontic and prosthetic distributor. and On Jun 2018, Tynor Orthotics Pvt. Ltd (manufacturer and exporter of orthopedic products) has raised USD 20.50 million funds from Thuasne Participations and private equity fund Lighthouse Funds. The new fund will give strength to the company to export the products. Thus, the new funding can be considered as an opportunity for the company.
- Increasing Geriatric Population and Prevalence of Orthopedic Diseases & Disorders
- Increasing Demand due to Emergence of Low-Cost Braces and High Availability of Orthopedic Braces
- An Emergence of New Styles in OTC Orthopedic Braces on E-Commerce Platforms
- Lack of Medical Infrastructure in Many Geographical Regions
OpportunitiesRising Development Particularly in OTC Orthopedic Braces and Continuously Increasing Accidents in Sports across the globe
ChallengesLow Customization and Very Limited Options in OTC Orthopedic Braces & Supports and Increasing Adoption of Pain killers and other Pain Medications for Disease Management
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the ReportAMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, OTC Orthopedic Braces Study Sheds Light on The OTC Orthopedic Braces Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the OTC Orthopedic Braces industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where OTC Orthopedic Braces industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.