(EMAILWIRE.COM, July 18, 2019 ) The Report "OTC Orthopedic Braces Market by Product (Knee, Back, Spine, Hip, Ankle, Foot, Shoulder, Elbow, Hand), Application (Osteoarthritis, Preventive Care, Ligament Injury), Sales Channel (Pharmacies, Retailers, E-Commerce, Hospitals) - Global Forecasts to 2022"

The global OTC braces and supports market is projected to reach USD 1.42 Billion by 2022 from USD 1.05 Billion in 2016, at a CAGR of 5.2% during 2017–2022.

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Factors such as growing prevalence of musculoskeletal disorders and diseases, rapid growth in the geriatric population, rising number of sports-related injuries, and growing adoption of e-commerce platforms for OTC orthopedic braces are driving the growth of the market.

Scope of the Report:-

• Based on Products
• Based on Application
• Based on Sales Channel
• Based on Region

As of 2016, major players in the market are DJO Finance LLC (US), Breg, Inc. (US), Ossur Hf (Iceland), DeRoyal Industries, Inc. (US), Bauerfeind AG (Germany), Otto Bock Holding GmbH & Co. KG (Germany), BSN medical (Germany), medi GmbH & Co. KG (Germany), THUASNE Group (France), and 3M Company (US), among others.

Lower extremity braces and supports are expected to dominate the products market during the forecast period.

On the basis of product, the OTC braces and supports market is categorized into lower extremity (knee, ankle, foot, back, hip, and spine) and upper extremity (shoulder, elbow, and wrist & hand) braces and supports. In 2017, the lower extremity braces and supports segment is expected to account for the largest share of the market. It is also expected to register the highest CAGR during the forecast period. This growth can be attributed to the growing prevalence of obesity and diabetes, availability of reimbursement across major markets, and the rising number of orthopedic surgeries (such as knee and hip replacement surgeries).

E-Commerce platforms are estimated to be the fastest growing sales channels during the forecast period.

Based on sales channel, the market is segmented into pharmacies & retailers, E-Commerce platforms, and hospitals & orthopedic clinics. The e-commerce platforms segment is expected to register the highest CAGR during the forecast period. This can be attributed to the strong logistic chains maintained by e-commerce companies across major markets (resulting in door to door services and direct delivery to consumers) and increasing strategic initiatives undertaken by e-commerce companies.

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This report covers the market across four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to command the largest share of the market in 2017 owing to the availability of medical reimbursement and insurance for major OTC orthopedic bracing products and expansion of target patient population (especially osteoporosis and osteoarthritis patients as well as those suffering from musculoskeletal injuries). However, Asia Pacific is expected to register the highest growth rate during the forecast period.