Global OTC Orthopedic Braces Market: Overview
OTC orthopedic braces are more popular among geriatric population. An increasing percentage of bone-degenerative diseases, obesity in the people requires OTC orthopedic brace to support and help in proper functioning of the body. People are greatly participating in the sports activities to keep themselves healthy. This increases the chances of knee dislocation or wrist or shoulder dislocation. Hence, OTC orthopedic brace is essentially playing their role in the world. OTC orthopedic brace can be easily accessible through e-commerce. Noninvasive treatment is getting more popular among people. Some of the OTC orthopedic braces include foot & ankle braces, shoulder braces, knee braces, elbow braces, back & hip braces, and many. For instance, Ottobock declared the introduction of new VC Vacuum Knee Joint, 3R60. This launch is expected to boost their customer base and satisfaction.
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Global OTC Orthopedic Braces Market: Growth Factors
Growing demand for OTC orthopedic braces among the geriatric population is expected to boost the global OTC orthopedic braces market. Increasing occurrences of the bone-degenerative diseases, obesity, and other diseases is anticipated to fuel the global market growth in the near future. Easy availability of OTC orthopedic braces through e-commerce is also expected to drive the global market. Furthermore, acceptance of the orthopedic braces as a preventive measure is positively impacting the global OTC orthopedic braces market growth. Rising youth participation in the sports activities and increasing occurrences of orthopedic injuries in them may open up new growth opportunities in the global market. However, limited financial support is offered for OTC orthopedic braces which may hamper the growth of the global OTC orthopedic braces market.
Global OTC Orthopedic Braces Market: Segmentation
The OTC orthopedic braces market is segmented on the basis of indication as osteoarthritis (OA), prophylactic, injury, and others. Based on product type, the global market is categorized as back & hip braces, knee braces, upper extremity braces, lower extremity braces, elbow braces, foot & ankle braces, wrist braces, shoulder braces, and other. The lower extremity braces segment accounted for the largest market share owing to rising aged population. Moreover, the knee braces are also growing at the faster rate due to increasing knee replacement surgeries in athletes which are anticipated to foster the global OTC orthopedic braces market in future.
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Global OTC Orthopedic Braces Market: Regional Analysis
North America accommodated for the highest market share in the global OTC orthopedic braces market owing to growing geriatric population in this region. This trend is followed by Europe owing to rising occurrences of osteoporosis, obesity, and osteoarthritis; this is anticipated to boost the global market growth in near future. Increasing participation in the sports activities also fuels the market demand in this region.
Global OTC Orthopedic Braces Market: Competitive Players
Some of the major players in the OTC orthopedic braces market include Medi GmbH & Co. KG, Ossur HF, OTTO Bock Healthcare, Deroyal Industries, Bauerfeind AG, Breg, Inc, 3M Company, BSN Medical, and DJO Finance.
Global OTC Orthopedic Braces Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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