North America OTC Orthopedic Braces Market By Product (Lower Extremity Braces, Knee Braces, Foot & Ankle Braces, Upper Extremity Braces, Shoulder Braces, Elbow Braces, Wrist Braces, Back & Hip Braces And Other Braces), By Indication (Prophylactic, Injury, Osteoarthritis (OA) And Other Indications) And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)
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The North America OTC Orthopedic Braces Market is estimated to be growing from 315 million in 2016 at a CAGR of 5.1%, to reach USD 403 million by 2021. The market is showing high growth potential in the mentioned period.
It will continue to gain momentum with the recent developments in medical sector.
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Orthopedic braces are the medical aids which support the joints of human body.
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The braces are worn on knee, hip, ankle, back, neck, elbow, fingers, and wrist. Orthopedic braces monitor the position of limbs and start a specific movement in the body.
the braces compensate for muscles which have low strength and also rectify the structural faults. Orthopedic braces are used for the detection of cerebral palsy, spina bifida, and to treat the effects caused after stroke.
Braces are also worn for getting additional support and avoid injuries on the joints. Athletes specifically wear braces for shock absorbance and to avoid injuries.
The developing research and technology in the medical sector, rising prevalence of bone-degenerative disorders, increasing disposable income, growing trend of practicing sports, are the factors that drive the growth of the North America OTC Orthopedic Braces market. However, growing preference for alternative treatments, uncertainty in reimbursement scenarios, less than expected efficiency of orthopedic braces and no customization offered for OTC orthopedic braces are the key constraints for North America OTC orthopedic brace market.
The North America OTC Orthopedic Braces market is broadly categorized on the basis of Product into Lower Extremity Braces, Knee Braces, Foot & Ankle Braces, Upper Extremity Braces, Shoulder Braces, Elbow Braces, Wrist Braces, Back & Hip Braces and Other Braces. Based on Indication, the market is segmented into Prophylactic, Injury, Osteoarthritis (OA) and Other Indications.
The prophylactic braces segment is expected to hold the largest share of the North America OTC orthopedic braces market in 2016 owing to increased participation in sports, studies proving the efficacy of prophylactic braces in decreasing the injuries, and increased awareness.
On the basis of region the North America market is segmented into U.S.A and Canada. This region held the highest share in the global OTC Orthopedic Braces market and is expected to show significant growth during the forecast period.
Some of the major competitors dominating the market are DJO Finance LLC, DeRoyal Industries Inc, Breg Inc, Bauerfeind AG, BSN Medical, Otto Bock HealthCare, Medi GmbH & Co. KG, Thuasne Group and 3M Company.
Market Segmentation :
Scope of the Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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