Market Dynamics
Market Drivers
Increasing Prevalence of Orthopedic Diseases and Disorders
Injuries or illnesses that impede motion are referred to as orthopedic disorders. Knee issues, shoulder dislocations, cartilage damage, ankle discomfort, and certain myalgias are a few of them. Lower back discomfort is currently the most prevalent health issue, which can be brought on by rigorous activities (exercise, weight lifting), poor diet, and other factors. In most cases, the affected areas include the muscles, nerves, and backbones.
Orthopedic illnesses affect 9–12% of the population overall and almost 80% of people in affluent nations. It is anticipated that the prevalence of orthopedic diseases and disorders will soon increase because obesity and related lifestyle disorders are becoming more widespread and because obese people are more likely to suffer from orthopedic and musculoskeletal injuries and diabetes. As a result, it is anticipated that there will be an increase in demand for OTC braces and support devices, which will enhance the market's expansion.
Market Restraint
Significant Adoption of Pain Medications
Topical, oral, and parenteral pain medications are frequently used to treat the pain brought on by musculoskeletal conditions such as tendinitis, carpal tunnel syndrome, and osteoarthritis. Even though orthopedic braces are used as a noninvasive method of pain management during compression therapy (cold, hot, or conventional compression therapy), the adoption of painkillers for such applications is high due to a lack of knowledge about the advantages of orthopedic braces as well as an unfavorable reimbursement environment for these products. The other main variables influencing this trend are the simplicity of administration and increased accessibility of pain drugs.
Market Opportunities
Increasing Product Availability through Online Platforms
Specific orthopedic braces can only be worn under the supervision of medical professionals or orthopedic technicians because they require product customization or modification by patient features. Although some braces (such as the ankle, wrist, hand, shoulder, elbow, and facial braces) can be used without a doctor's prescription, these braces are increasingly being marketed through brick-and-mortar stores and online merchants. Patients frequently use such products as safety precautions to avert accidents. Popular e-commerce websites that sell orthopedic devices include BraceAbility, Amazon.com, and Alibaba.com. Additionally, governments and insurance authorities in powerful nations increasingly support online sales, higher reimbursement, and insurance coverage due to the effective patient care delivered by such items.
Regional Analysis
The global OTC braces and supports market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
North America Dominates the Global Market
North America is the most significant shareholder in the global OTC braces and supports market and is expected to grow at a CAGR of 4.1% during the forecast period. The North American market for OTC braces and supports is anticipated to be dominated by the U.S. market. The increasing prevalence of orthopedic problems and the aging population are the leading causes of this high share. In the United States, more than 54 million people are estimated to have some arthritis, according to estimates from the CDC. The main factors boosting the market growth in North America are the availability of high-tech orthopedic braces and support goods, an increase in the prevalence of orthopedic ailments, and a larger target audience. In addition, according to data from the American Academy of Orthopedic Surgeons, a musculoskeletal problem affects 126.6 million Americans (one in two). These factors, including the rise in traffic accidents and sports injuries, the dominance of critical competitors, the accessibility of qualified specialists, and significant government spending on healthcare, all contribute to the market growth in North America.
Europe is expected to grow at a CAGR of 4.7%, generating USD 297.54 million during the forecast period. The UK, France, and Germany are the three most important nations in the European OTC braces and supports market. A stable growth rate is anticipated over the forecast period for the orthopedic implants market in European nations. The market is expanding in Europe due to rising demand for technologically improved OTC braces and an increase in the prevalence of chronic disorders. In addition, the market is expected to grow due to the aging population, rising traffic fatalities, technological advancements, and rising rates of chronic orthopedic disorders. Positive clinical results, a decline in product failure rates, and the introduction of new technologies all contribute to the market's expansion.
Additionally, the availability of educated personnel for advanced surgery, a developed healthcare infrastructure, and increased healthcare spending drive the market's expansion. The European market is anticipated to expand due to the rising elderly population, increased desire for minimally invasive procedures, and increasing prevalence of orthopedic disorders. The market for over-the-counter braces and supports in Germany, France, and the U.K. is expected to expand significantly due to rising disposable orthopedic implant demand and a sophisticated healthcare system.
Asia-Pacific is expected to grow significantly over the forecast period. Due to its large population, rising knowledge of orthopedic braces, rising prevalence of orthopedic diseases, a spike in disposable income, and rising desire for less invasive procedures, Asia-Pacific offers lucrative potential for market participants in the OTC braces and supports the sector. The expansion of the OTC braces and supports market in Asia-Pacific is driven by improvements in healthcare infrastructure, increased health awareness, and a rise in diagnoses. Additionally, the primary driver of market expansion is an increase in surgical operations in emerging nations like China and India. The Asia-Pacific market is growing because of the dense populations of nations like China and India. Additionally, it is expected that developing nations like India, which have a sizable patient population and are expected to have an increase in healthcare spending along with an increase in GDP, will open up new prospects.
The expansion of the market in LAMEA is driven by an increase in government funding and the creation of initiatives for healthcare awareness. In 2021, Brazil accounted for roughly 5.2% of the market share for LAMEA OTC braces and supports, making it the region's largest stakeholder. The significant growth in the number of senior patients and an increase in the incidence of chronic orthopedic disorders are driving this market's expansion. Future market expansion is anticipated to benefit significantly from the increasing technological developments in OTC braces. It supports goods and the emphasis and expenditures made by the key players. Orthopedic conditions like arthritis, musculoskeletal conditions, and fractures are becoming more common in the region. This is mainly because these nations lack effective treatment systems. Additionally, because of their lower gross national incomes, LAMEA nations do not invest as much in creating new techniques and tools.
Segmental Analysis
The global OTC braces and supports market is segmented by product, type, application, and distribution channel.
By Product Analysis
Based on product, the global OTC braces and supports market is bifurcated into ankle braces and supports, knee braces and supports, facial braces and supports, upper extremity braces and support, and back, hip, spine braces and supports.
The knee braces and supports segment is the highest contributor to the market and is expected to grow at a CAGR of 5.6% during the forecast period. Knee braces are made to provide support and compression to treat discomfort from sprains, osteoarthritis, and chronic knee instability. Additionally, osteoarthritis is a degenerative condition that develops gradually over time. This problem typically arises from a prior knee injury in younger people. Repetitive knee strain, fractures, meniscal injuries that may disrupt alignment and create wear and tear, recurrent patellar dislocation and fracture, trauma, hypermobility brought on by ligament laxity or injury, and heredity may all be predisposing factors in the elderly population. Wearing a knee brace can facilitate mobility and more comfortable walking distances.
An ankle brace is a piece of clothing placed around the ankle intended to immobilize or protect it while it recovers from sprains and other minor wounds. Ankle braces compress and heat the bones while immobilizing the joint. They are frequently used in ankle injury rehabilitation procedures; they are made of stiff fabric, like nylon or neoprene, which allows for restricted foot motion and conforms to the ankle via a hook and loop closure. Additionally, the foot section could have metal components to guarantee its fixing. In severe cases, iron plates are used to immobilize the joint better. Ankle braces are recommended for various conditions, including ankle injuries with or without minor fractures, joint immobilization, postoperative synovitis, joint sprains or inflammations, weak ankle muscles, and others. Due to the increasing prevalence of ankle sprains, hammertoes, bunions, osteoporosis, and rheumatoid arthritis, the market is anticipated to experience an exponential rise throughout the forecast period.
By Type Analysis
Based on type, the global OTC braces and supports market is bifurcated into soft and elastic braces and supports, hard braces and supports, and hinged braces and supports.
The soft and elastic braces and supports segment owns the highest market share and is expected to grow at a CAGR of 5.2% during the forecast period. Soft braces can be easily disguised under clothing, making them more concealable, lighter, and more comfortable. They also allow for better posture and muscular growth and can improve spine mobility while straightening the curve. Additionally, soft braces compress the belly region, support the muscles that ordinarily support the skeletal system, and lessen the tension on the spine. The spine can go forward with the aid of soft bracing. Specific soft braces are designed to offer support while the wearer performs heavy lifting at work or home, while others only provide all-day, light support. Depending on the region of need, these orthotics are available in various sizes and shapes.
Hard or rigid braces offer support following surgery or an injury. The lower back and abdomen are covered with plastic pieces during manufacture, which are later fastened with elastic straps. This protects the injured area from further damage or injury. The Boston brace, which offers support from the shoulder to the tailbone in the back and from below the chest to the pelvis in the front, is one of the most popular rigid braces. Milwaukee brace is another "23-hour" rigid brace (it must be worn at all times except when bathing or swimming).
In addition, the Charleston brace (intended to be worn by people living with scoliosis exclusively when sleeping) contains a component that braces the neck area and is shaped like the Boston brace. This brace is asymmetrical; it "overcorrects" the spine overnight to aid in its growth into a straight position. Any bone fracture frequently necessitates using over-the-counter (OTC) hard braces and support systems to develop the broken area of the patient's immobility. According to a December 2020 article titled "Vertebral Compression Fractures," 1 to 1.5 million VCFs happen annually in the United States alone.
By Application Analysis
Based on application, the global OTC braces and supports market is bifurcated into ligament injury repair, osteoarthritis, preventive care, and others.
The preventive care segment is the highest contributor to the market and is expected to grow at a CAGR of 5.0% during the forecast period. This is related to rising OTC bracing product availability for ambulatory procedures and increased public engagement in sports. The significant increase is attributable to rising public knowledge of health issues and the quicker and dependable availability of over-the-counter braces. This is mainly brought about by an increase in musculoskeletal injuries and the expanding use of over-the-counter braces and other preventive care goods. Additionally, fractures from sports-related injuries or accident cases fuel the growth of this market by causing back, hip, hand, and ankle injuries.
Ligament injuries are among the most frequent causes of musculoskeletal joint discomfort and dysfunction. Ligament injuries destroy the equilibrium between a joint's mobility and stability, resulting in aberrant force transmission throughout the joint and harming nearby structures. The most prevalent joint condition worldwide is still osteoarthritis, the long-term result of a ligament injury that has not healed. The acute inflammatory phase, the proliferative or regenerative phase, and the tissue remodeling phase are the three sequential phases that constitute the healing process of ligaments. Despite advancements in medicine, the entire process might take months, and many ligaments never fully recover their usual tensile strength.
By Distribution Channel Analysis
Based on the distribution channel, the global OTC braces and supports market is bifurcated into orthopedic clinics, retail pharmacies, and others.
The retail pharmacies segment owns the highest market share and is expected to grow at a CAGR of 5.2% during the forecast period. Retail pharmacies provide branded and generic medications with a prescription. Due to the prevalence of retail pharmacies, many clients rely on them. These pharmacies also offer alternatives if the specified radio dermatitis drugs are unavailable. Retail pharmacies may also monitor their inventory, encourage clients to acquire prescription drugs and dispense them, and help patients better manage their finances and debt. All of these factors attract clients to shop at retail pharmacies. Thus, it is anticipated that the aforementioned factors will contribute to market expansion throughout the forecast period. Additionally, because of their extensive chain of distribution networks, retail pharmacies are chosen by the general public because they are the most traditional and time-tested method of getting radiation dermatitis medications to consumers.
Clinics are healthcare facilities that offer patient care using skilled medical and nursing personnel and medical supplies. To treat orthopedic ailments such as arthritis, osteoarthritis, rheumatoid arthritis, bursitis, elbow pain, elbow issues, and surgical procedures, orthopedic clinics are well-equipped with cutting-edge technology. Over-the-counter braces and support items are predicted to rise faster in the clinic environment for osteoarthritis, ligament injury repair, preventive care, and post-operative rehabilitation. Additionally, increased hospitalization rates and increasing government financing for clinics are anticipated to drive market expansion in this sector over the following years.
Top Key Players
Beam Therapeutics Inc
Alare Co Ltd
Bauerfeind Ag
Bird & Cronin LLC (A Part of Dynatronics Corporation)
Breg Inc.
BSN Medical GmbH (A Part of Svenska Cellulosa Aktiebolaget)
Deroyal Industries Inc.
DJO Finance LLC
Medi GmbH & Company KG
Thuasne SAS.
Others
