End use Insights
On the basis of end use , the market is segmented into hospitals , orthopedic clinics , Over-the-Counter ( OTC ), and other facilities . Orthopedic clinics contributed to the largest market share in 2015 , due to reluctance of patients to visit speciality clinics for acute musculoskeletal disorders .
OTC segment is expected to witness an attractive growth over the forecast period as the orthopedic braces and supports are easily available in retail pharmacies . OTC products do not require any prescription of doctor , so patients with acute muscle problems prefer OTC products .
Regional Insights
North America held the largest market share in 2015 , due to the rising prevalence of arthritis in the U . S . People are at a high risk of osteoporosis in the U . S . due to increase in geriatric and obese population . Increased participation in sports related activities in conjunction with rise in awareness level among people related to orthopedic braces and supports is expected to further support market growth .
Asia Pacific is expected to exhibit fastest growth over the forecast period . This is due to the rise in geriatric population in the region which in turn increases the demand for orthopedic braces and supports , thereby accentuating the growth of the market .
Competitive Insights
Few major companies of the market include DJO Global , Inc .; Breg , Inc .; Alcare Company Ltd .; Bauerfeind AG ; Össur Corporate ; McDavid Knee Guard , Inc .; FLA Orthopedics , Inc .; Otto Bock Healthcare GmbH ; and Frank Stubbs Co ., Inc .
The key players are focusing on strategic initiatives such as mergers , acquisitions , new product development , and regional expansions . For instance , in 2015 , Merz North America acquired ON Light Sciences , Inc ., a company specializing in laser-based dermatology with an aim to expand its esthetic product portfolio . These companies are also concentrating on the manufacture of customized braces & supports to cater to the individual needs of the patients .