The Middle East and Africa OTC Orthopedic Braces Market is estimated to be growing from 94 million in 2016 at a CAGR of 4.5%, to reach USD 117 million by 2021. The market is showcasing significant growth potential in the mentioned period and is also expected to grow in the future years owing to the developments in medical sector.
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Orthopedic braces, also called as orthopedic splints, provide protection, stabilization, support and rectification of injuries or unusual alignment by rehabilitation and recovery. They are used for various purposes like injury rehabilitation, prevention, and more. The braces are also made to take the place of muscles if there is less strength in them. They correct the structural anomalies and assist in the detection of cerebral palsy, spina bifida, as well as to treat the symptoms of stroke.
The rising geriatric population, increasing popularity and awareness regarding orthopaedic braces, developing research activities in the medical sector are driving the growth of this market. Also, growing amount of bone-degenerative ailments and stabilization of the economy over the previous years are the factors that fuel the growth of the Middle-East and Africa OTC Orthopedic Braces market. However, rising preference of patients towards alternative treatment methods, uncertain reimbursements, below average efficiency of orthopedic braces and lack of customization for OTC orthopedic braces are the major factors hampering the Middle-East and Africa OTC orthopedic braces market.
The Middle-East and Africa 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 Middle-East and Africa 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.
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On the basis of region the Middle-East and Africa market is analyzed under the regions Middle East and Africa. This region is filled with many countries which are on the developing stage and are undergoing a lot of advancement in the medical technology. Thus, the market has substantial growth potential during the mentioned 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 :
1) Product
2) Indication
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- 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
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