(PharmaNewsWire.Com, January 10, 2018 ) The Asia Pacific OTC Orthopedic Braces Market is estimated to be growing from 262 million in 2016 at a CAGR of 5.3%, to reach USD 339 million by 2021. The market is showcasing substantial growth potential in the forecasting period and is also estimated to grow in the future years owing to the developments in medical sector.
Orthopedic braces, also known as orthopedic splints, facilitate the protection, stabilization and correction of injuries or abnormal structure. They are used for different applications like injury rehabilitation, prevention, and more. The braces are also designed in a way to compensate for muscles which have less strength in them. They rectify the structural anomalies and help in the detection of cerebral palsy, spina bifida, as well as to treat the symptoms of stroke.
Many different factors like increasing middle-class population, growth of GDP, increased spending on healthcare and rising awareness among the public about different treatment options for orthopedic conditions are triggering the growth of the OTC orthopedic braces market in the Asia-Pacific region.
The Asia-Pacific 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 Asia-PacificOTC 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 Asia-Pacific market is analyzed under the regions China, India, Japan and South Korea. China and India are developing countries and are expected to lead the market because of emerging economies and growing geriatric population.
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.
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