OTC Braces & Support Market

Product Launches and Acquisitions are the Key Growth Strategies Adopted by Leading Market Players in the Global OTC Braces and Supports Market

The global OTC braces and supports market is projected to reach USD 1.42 Billion by 2022 from 1.10 Billion in 2017, at a CAGR of 5.2%. The increasing prevalence of orthopedic diseases & disorders, rapid growth in the geriatric population, development of specialized OTC orthopedic bracing and support products, growing affordability and availability of OTC orthopedic braces and supports, and rising number of sports and accident–related injuries are some of the factors driving the growth of this market. However, limited options to customize OTC orthopedic braces and the significant adoption of pain medications for disease management across emerging markets are the key factors hindering the growth of the market.

Analysis of the market developments between 2014 and 2017 (August) reveals that several growth strategies such as product launches, strategic acquisitions, mergers, agreements, partnerships, collaborations, and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the OTC braces and supports market. Among these business strategies, product launches, agreements, and partnerships were the most widely adopted growth strategies by players in the market.

As of 2016, DJO Finance LLC (US) holds the leading position in the market with its broad range of orthopedic braces and supports. The company has a strong distribution network across 36 countries including Australia, Canada, South Africa, and Tunisia, among others. The company primarily focuses on product launches to sustain its position in the OTC braces and supports market. The market has witnessed several product launches by DJO Finance LLC (US) in the last three years including DonJoy Products (such as TriFit & Clima-Flex OA Knee Brace).

As of 2016, DeRoyal Industries Inc. is a prominent player in the OTC braces and supports market. The company has a strong foothold in the market with a wide range of orthopedic braces and supports. The company mainly focuses on inorganic growth strategies such as distribution agreements and partnerships to maintain its significant market share and competitive advantage.

Related Reports:

OTC Braces & Support Market by Product (Knee, Back, Spine, Hip, Ankle, Foot, Shoulder, Elbow, Hand), Application (Osteoarthritis, Preventive Care, Ligament Injury), Sales Channel (Pharmacies, Retailers, E-Commerce, Hospitals) - Global Forecasts to 2022

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Report Code
MD 4674
Published ON
Dec, 2017
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