Europe OTC Braces And Support Market Size, Share, and Analysis by 2028

The Europe OTC braces and support market is expected to reach US$ 693.19 million by 2028 from US$ 478.77 million in 2020; it is estimated to register a CAGR of 5.4% from 2021 to 2028.

The growth of the OTC braces and support market is attributed to increasing awareness of braces and support, and rising demand for OTC braces and supports across the world. However, the availability of alternative therapies is restraining the market growth. Braces are prominently used in developed and upper middle-income countries. Foundations such as the International Society for Prosthetics and Orthotics (ISPO) help create awareness regarding the use of orthopedic braces and supports. It is a non-government organization that aims to improve the quality-of-life of people with limb amputations or those with physical damages and injuries to limbs and spine by making them aware about the benefits of prosthetics and orthotics. The ISPO provides an effective platform to exchange and communicate all the aspects of science. The organization practices and educates the associates regarding the provision of prosthetic and orthotic care, rehabilitation engineering, and related areas. Therefore, the increasing awareness about orthopedic braces and supports is contributing to the market growth. Also, the trend of better-quality OTC braces and supports is likely to grow dramatically due to increasing popularity of e-commerce platforms. Moreover, innovative products, revolutionary technology, and successful events have created opportunities for the companies to continue the production of orthopedic braces and supports. Thus, they are likely to add value to their customers and increase customer base for their products in the coming years.

The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Also, the pandemic has halted the adoption of new medical device policy and delayed clinical trials and disrupted processes. For instance, the European Commission recently postponed the application date of the MDR for one year due to COVID-19 pandemic. The Medical Device Regulation (MDR) requires manufacturers to conduct post market clinical follow-up (PMCF) studies to demonstrate the continued safety and performance of their devices. This is expected to impact the product launch and ongoing clinical trials of medical devices, thereby impacting sales and growth of the market. In addition, disrupted supply chains, extended lockdowns, and cancelling of other medical procedures have also negativity affected the growth of the OTC braces and support market. The hospitals in the region are cancelling other surgical procedures to keep healthcare facilities free for COVID-19 patients. Moreover, the increasing COVID-19 infection among healthcare workers is leading to shortage of staff. These factors are negatively impacting the growth of the OTC braces and support market.

 

EUROPE OTC BRACES AND SUPPORT MARKET SEGMENTATION

By Product

• Knee Braces and Support
• Back Hip and Spine Braces and Support
• Foot Walkers and Orthoses
• Neck and Cervical Braces and Support
• Shoulder Braces and Support
• Elbow Braces and Support
• Hand and Wrist Braces and Support
• Facial Braces and Support

By Type

• Soft and Elastic Braces and Support
• Hard and Rigid Braces and Support
• Hinged Braces and Support

By Application

• Ligament Injury Repair
• Preventive Care
• Osteoarthritis
• Compression Therapy
• Other Applications

By End User

• Hospitals
• Ambulatory Surgical Centres
• Specialty Clinics
• Others

By Country

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe

Company Profiles

• DJO Global, Inc.
• ORTHOFIX MEDICAL INC. (Breg, Inc.)
• Bauerfeind
• DeRoyal Industries, Inc.
• Becker Orthopedic
• OPPO Medical Inc.
• Zimmer Biomet
• OTTOBOCK
• 3M
• Bird and Cronin Inc.

Europe OTC Braces And Support Report Scope