Latest News by Industry
DUBLIN--(BUSINESS WIRE)--Nov 1, 2022--
The "OTC Braces & Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Elbow, Hand, Wrist), Type (Soft, Rigid, Hinged), Application (Preventive, OA, Ligament Injury, Compression), Distribution (Pharmacies, E-com, clinics) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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% during the forecast period. Growth in the otc braces and supports market is stimulated because of increase in cases of orthopedic diseases & disorders, continuity in product supply and marketing , better product prices and availability in the market, rise in number of sports and participation in sports, and growth in public awareness of preventive care. Other factors such as increased sales of over-the-counter and online products and marketing and educating initiatives undertaken by key product manufacturers will provide a huge growth and expansion opportunities for these players in the market.
The knee braces and supports segment accounted for the largest share of the otc braces and supports market, by product
Based on product, the otc braces and supports market is segmented into knee braces and supports; ankle braces and supports; back, hip, & spine braces and supports; foot walkers and orthoses; hand & wrist braces and supports; shoulder braces and supports; elbow braces and supports; and facial braces and supports. The knee braces and supports segment is expected to have the highest growth during the study period mainly as these products provide clinical and medical support, decrease the rotation of the knee, limit the harm due to motion, and protect from the post-surgical threat of injury.
Preventive Care captured the largest market share in the otc bracing and supports applications market
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 have the largest share of the market in 2022. This large share is due to increase in quick and reliable availability of over the counter braces and growing public awareness about health.
Pharmacies & retailers to hold the largest market share in the global otc braces and supports market, by distribution channel
On the basis of the distribution channel, the OTC braces and supports market is classified into pharmacies & retailers, e-commerce platforms, orthopedic clinics and hospitals. Pharmacies & retailers are expected to hold the largest share in the distribution channel segment in the otc braces and supports market in 2022. Market growth of this segment is highly attributed to large scale sourcing and availability of orthopedic bracing and support products in the retailers & pharmacies and increasing preference of off-the-shelf products for foot injuries in major countries (due to easy access).
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Lists of Companies Profiled in the Report:
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 OTC Braces and Supports Market, by Product
7 OTC Braces and Supports Market, by Type
8 OTC Braces and Supports Market, by Application
9 OTC Braces and Supports Market, by Distribution Channel
10 OTC Braces and Supports Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/c6761v
View source version on businesswire.com:https://www.businesswire.com/news/home/20221101005851/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD:
INDUSTRY KEYWORD: MEDICAL DEVICES HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/01/2022 08:11 AM/DISC: 11/01/2022 08:11 AM
http://www.businesswire.com/news/home/20221101005851/en