The OTC Braces and Support Market size is projected to reach US$ 1184.09 million by 2031 from US$ 967.13 million in 2023. The market is expected to register a CAGR of 6.1% in 2024–2031. Rising road injuries and growing demand in sports participation is likely to remain an OTC braces and support market trend.
According to National Safety Council, though motorcycles make up to 3% of all registered vehicles and 0.7% of all vehicle miles travelled in the United States, motorcyclists accounted for 14.6% of all traffic fatalities and 3.5% of all injuries in the year 2022. A common factor that directly influences motorcycle mortality trends is helmet use. Fatalities among motorcycle riders and passengers increased by 1% from 2021 to 2022, while the rate per 100 million vehicle miles travelled decreased by 16%. The fatality rate decreases in 2022 is a result of a 21% increase in miles driven. In the last 10 years, deaths have increased by 32%, while death rates have drastically reduced by 13%. The number of motorcycle fatalities presently stands at 6,218 and the rate is 26.16 per 100 million vehicle miles. According to the Action Sports EMS, it has been reported that cervical spine injuries resulting from motorcycle accidents of any kind are 82% more likely to happen when riding without a neck brace. Thus, rising number of motorcycle accidents is expected to drive the global OTC braces and support market.
Rising prevalence of orthopaedic disorders in both developed and developing economies coupled with increasing demand for sport participation among the millennials is driving the demand for OTC braces and support products. However, limited clinical efficacy is one of the factors that are critically impacting the growth of OTC braces and support market.
According to the John Hopkins Medicine, as of 2022, there were about 30 million children and teens participate in some form of organized sports in the U.S. , and over 3.5 million injuries occurs each year. These types of injuries cause some loss of time of participation and common injuries such as sprains and strains are likely to occur. All sport types have a potential for injury, whether from the trauma of contact with other players or from overuse or misuse of a body part. The OTC braces and support provide targeted support to vulnerable areas such as the knees, elbows, wrists, and ankles, reducing the risk of strains and sprains. Thus, rising number of sport injuries in the United States is thereby contributing to the OTC braces and support market growth.
In March 2021, GSK Consumer company launched a digitally enhanced knee brace known as VoltActive after a yearlong marketing campaign via traditional approaches and digital media. The product can be bought exclusively on Amazon. As people engages more to stay active and exercise, products such as VoltActive helps in relieving pain, restore movement, and reduces inflammation. Such a factor is responsible for the growth of the OTC braces and support market size.
Key segments that contributed to the derivation of the OTC Braces and Support market analysis are application and end user.
The geographic scope of the OTC braces and support market report is mainly segmented into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South America/South & Central America.
Based on geography, the OTC braces and support market is segmented into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The North America, OTC braces and support market has been analyzed based on three major countries — the US, Canada, and Mexico. The US OTC braces and support market is estimated to hold the largest market share during the forecast period. Commercialization of new orthopaedic devices, favourable reimbursement scenarios, and increasing participation in sport activities by the millennials are some factors aiding the growth of OTC braces and support market in the US region.
The regional trends and factors influencing the OTC Braces and Support Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses OTC Braces and Support Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 967.13 Million |
| Market Size by 2031 | US$ 1184.09 Million |
| Global CAGR (2024 - 2031) | 6.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The OTC Braces and Support Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the OTC Braces and Support Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The OTC Braces and Support market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
The “OTC Braces and Support Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
North America dominated the OTC braces and support market in 2023.
Factors including rising road injuries and growing demand in sports participation are driving the OTC braces and support market growth.
Rising number of product launches are future trends in the market.
3M Company; DJO Global, Inc.; Bird & Cronin; Essity; Zimmer Biomet Holdings, Inc; OTC Brace; Bauerfeind; BSN Medical; DeRoyal; Ottobock are some leading players operating in the OTC braces and support market.
The OTC braces and support market is estimated to reach US$ 1184.09 million by 2031.
The OTC braces and support market is anticipated to grow at a CAGR of 6.1% during 2024-2031.