Solid Growth Forecast for OTC Braces and Supports Market

A profitable future is in store for the over-the-counter (OTC) braces and supports arena, as the market is estimated to grow 6.4% annually to reach $1.28 billion in 2027, according to Markets and Markets. The sector was worth $942 million in 2022.
 
Growth drivers include increasing incidences of orthopedic conditions, continuous product commercialization, better product affordability and market availability, the rising number of sports and road accident-related injuries, improved public awareness about preventive care, and promotion/branding initiatives undertaken by major product manufacturers.
 
The OTC braces and supports market is divided into knee braces and supports; ankle braces and supports; back, hip, and spine braces and supports; foot walkers and orthoses; hand and 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 sustain the most growth since these products provide suitable grip and support, maintain the unneeded rotation of the knee, and are best suited for prevention and protection after surgeries.
 
Based on type, the market is segmented into soft and elastic braces and supports, hard braces and supports, and hinged braces and supports. Growth in this market can primarily be attributed to better availability of advanced products, increasing adoption and patient preference for orthopedic braces in post-operative and preventive care, and the supportive reimbursement scenario for target products across mature markets.
 
By application, the sector is segmented into preventive care, ligament injury, osteoarthritis, compression therapy, and other applications. The preventive care segment among all holds the largest share of the market. This large share of this segment is a result of the growing participation in sports , the rising number of accidents such as sport accidents or road accidents  worldwide, and the growing availability of clinical reimbursement for ligament injuries and repair.
 
Based on distribution channel, the market is classified into pharmacies and retailers, e-commerce platforms, and clinics and hospitals. Pharmacies and retailers are expected to be the largest distribution channel segment. Market growth can largely be attributed to the growing number of orthopedic surgical procedures that require post-operative preventive care and the rising adoption of off-the-shelf products for sprain and ligament injuries in major countries (due to easy access), as well as growing public awareness about the clinical benefits of orthopedic braces.
 
The market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East/Africa. In 2022, North America accounted for the largest market share. Factors such as the continuous development and commercialization of novel orthopedic braces and support products and favorable reimbursements and insurance coverage of major orthopedic bracing procedures in the region drive the North American market. Of all the regions, Asia Pacific is expected to sustain the highest annual growth due primarily to aging and obese patients (those groups are more prone to orthopedic and diabetes-related conditionss) as well as increasing healthcare spending in APAC countries.
 
Key market players include 3M Company, DJO LLC, Essity AB, Össur, Ottobock, Thuasne, Bauerfeind AG, Breg Inc., Nippon Sigmax, Bird & Cronin, medi GmbH, DeRoyal Industries, TruLife, Mueller Sports Medicine, Orliman, Zimmer Biomet Holdings, Becker Orthopedic, Alcare, Foundation Wellness, McDavid, Neo G, United Medicare, Frank Stubbs Company Inc., Vissco Rehabilitation AIDS Pvt. Ltd., and Prim SA.