3M Company (US) and DJO Global, Inc. (US) are Leading Players in the OTC Braces & Supports Market
The OTC braces and supports market is valued at an estimated USD 942 million in 2022 and is projected to reach USD 1,286 million by 2027, at a CAGR of 6.4% during the forecast period. The growth of the OTC braces and supports market is driven by the increasing prevalence of orthopedic diseases & disorders, continuous product commercialization, greater product affordability, market availability, rising number of sports and accident-related injuries, growing public awareness related to preventive care, increased sales of off-the-shelf and online products, and promotion and branding initiatives undertaken by major product manufacturers.
The top players in this market are 3M Company (US), , Bird & Cronin (US), Essity (Sweden), and Zimmer Biomet Holdings, Inc (US). These players lead the market because of their extensive product portfolios and wide geographic presence. These players have also invested in organic strategies such as product launches and regulatory approvals and inorganic growth strategies such as partnerships, agreements, and acquisitions to maintain their market shares.
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In 2021, 3M held the leading position in the OTC braces and supports market. 3M is among the key providers of orthopedic braces and supports for ankle, foot, knee, wrist, hand, and elbow. The company has a strong geographical presence with a wide distribution network across North America, Europe, the Middle East & Africa, and the Asia Pacific. The company offers a strong product portfolio of orthopedic braces for post-operative rehabilitation, preventive care, and osteoarthritis and is known to focus on R&D activities to enhance its product portfolio.
In 2021, DJO Global was one of the leading companies of the OTC braces and supports market. The company is one of the key players in the global OTC braces and supports market. It is a medical devices company involved in the development, manufacturing, and distribution variety of medical technologies for physical therapy, rehabilitation, and pain management globally. It offers a broad range of orthopedic braces and supports for various applications, such as ligament injuries, preventive care, and post-operative rehabilitation. The company has a strong geographic presence across countries, such as the US, Mexico, Germany, the UK, France, Belgium, and Sweden. DJO mainly focuses on developing technologically innovative products and acquisitions to strengthen its position in the market. In July 2021, DJO Global (Enovis) acquired Mathys AG Bettalach (Switzerland). The acquisition expanded the Medical Technology segment’s reconstructive product portfolio with Mathys’ complimentary surgical solutionsThis has helped the company significantly expand its product line and enhance its visibility in the market.
Related Reports:
OTC Braces & Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Elbow, Hand, Wrist), Type (Soft, Rigid, Hinged), Application (Preventive, OA, Ligament Injury, Compression), Distribution (Pharmacies, E-com, clinics) - Global Forecast to 2027
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