South and Central America OTC Braces And Support Market Growth and Analysis by 2028

The South and Central America OTC braces and support market is expected to reach US$ 102.99 million by 2028 from US$ 73.19 million in 2021; it is estimated to register a CAGR of 5.0% from 2021 to 2028.

The emerging markets in the developing economies are likely to offer better and lucrative growth opportunities to the major market players of OTC braces and supports to expand their business and geographical reach. The treatment of orthopedic conditions and musculoskeletal diseases has become simpler due to various technological advancements. Braces and supports have helped patients in getting rid of ingesting heavy-dose medicines and taking hectic therapies. Besides, the rise in healthcare expenditure has allowed developing nations to provide better and more services and facilities to their people. Thus, the adoption of braces and supports is likely to increase in the emerging regions such as Latin America in the coming years. In addition, these regions are characterized by the increasing geriatric population susceptible to orthopedic and musculoskeletal disorders. The OTC braces and supports market players are further likely to leverage these conditions to provide effective therapeutic products to these populations. Further, the developing regions are witnessing a rise in the number of start-ups investing more on the healthcare. Local manufacturers of orthopedic braces and supports are showing interest in technological advancements. Therefore, emerging or developing countries are likely to present high growth potential for the OTC braces and supports market players in the coming years. Also, the trend of better-quality OTC braces and supports is likely to grow dramatically due to increasing popularity of e-commerce platforms. Moreover, the 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 the value to their customers and increase customer base for their products in the coming years.

The COVID-19 pandemic has become the most significant challenge in South and Central America. A lack of ICU beds and ventilators is common across the region. Apart from this, a huge population face a growing burden of noncommunicable diseases in Brazil, making them more vulnerable to the virus. The OTC orthopedic braces and supports market is impacted due to the pandemic, resulting in short-term negative growth due to factors such as a sharp decline in elective surgeries and ban on organized sports. Moreover, orthodontic clinics were temporarily closed, and hospital access restricted non-essential care. Thus, limited access to clinics, social distancing, lockdown resulted in less trauma and workplace injuries, and slow-down in patient flow.

SOUTH AND CENTRAL AMERICA 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

y Application

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

By End User

• Hospitals
• Ambulatory Surgical Centres
• Specialty Clinics
• Others

By Country

• Brazil
• Argentina
• Rest of South and Central America

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.

South and Central America OTC Braces And Support Report Scope