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. 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. Also, 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.
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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 :
1) Product
2) Indication
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