Global orthopaedic bracing devices market is expected to register exponential growth over the forecast period due to rising geriatric population base, increasing prevalence rate of osteoarthritis, the higher incidence rate of muscular injuries, and increasing healthcare awareness. Moreover, increasing usage of braces in sports injuries and demand for osteoarthritis related orthopaedic surgery is expected to drive the growth of the market in the coming seven years. Innovations in implants technologies and technical advancements in bracing devices such as data synchronization systems, advanced data sensors, and customized implants will further provide lucrative growth opportunities to market over the forecast period.
The orthopaedic bracing devices market is bifurcated on the basis of product, application, and end-use. On the basis of product, the market is divided into seven segments such as knee bracing & support systems, spinal orthosis systems, upper extremity bracing & support systems, ankle bracing system, back soft good systems, wrist & hand braces and pain management devices & kits. Knee bracing and supports segment is expected to witness notable growth in the future due to the rising geriatric population base affected by osteoarthritis. Ankle and wrist bracing systems pose significant opportunities owing to the rising prevalence rate of sports and occupational injuries. The orthopaedic bracing devices find application in different areas such as joint reconstruction (hip replacement, elbow replacement, digits replacement, and wrist replacement) and orthobiologics (stem cell therapy, bone growth & spinal stimulation and bone allograft).
Orthobiologics segment is expected to gain significant market share in the coming seven years due to the increasing adoption of tissue engineering and stem cell technologies in orthopaedic surgeries. Rising demand for hip and knee replacement is expected to drive the growth of the joint reconstruction market in the forecast period. The market based on end-use includes hospitals, orthopaedic clinics, and other users such as gyms, sports academy, emergency centres, and trauma centres.
Geographically, the global orthopedic bracing devices market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. North America held the largest market share as of 2014, owing to favorable government initiatives and high incidences of muscular diseases such as osteoarthritis. European market is expected to witness growth due to factors such as rising geriatric population base, and a high number of sports injuries. The Asia Pacific region is anticipated to witness significant market growth due to increasing healthcare expenditure, rising disposable income, untapped opportunities, and supportive regulations of the government especially in the emerging economies of India and China. Increasing healthcare awareness and changing demographics of people in Brazil and Mexico may push the demand for orthopedic bracing devices in the Latin American market in the near future.
Some key players operating in orthopaedic bracing devices market are Amedica Corporation, Aesculap Inc., Apatech Ltd., Biomet Inc., Arthrocare Corporation, Alphatec Spine, AAP Implant ate AG, Conmed Corporation, Integra LifeSciences Holding Corporation, BSN Medical, Globus Medical Inc., Exatech Inc., Depuy Inc., Medtronic Inc., Donjoy Inc., Nuvasive Inc., Smith and Nephew plc, Synthes Inc., Stryker Corporation and Zimmer Holding Inc. The market players are adopting various strategies such as research & development operations, new product development, partnership agreements, and mergers & acquisitions to gain a competitive advantage in the market. Adoption of technological advancements techniques such as advanced sensor systems, and data acquisition systems, in orthopaedic devices are expected to drive the growth of orthopedic bracing devices market in the forecast period. Similarly, customized implants, real-time trackers, and microprocessor fitted implants are expected to further present this market with lucrative growth platforms over the forecast period. Key players are also striving to capitalize on untapped opportunities especially in Asian Pacific countries by means of product innovation, which will drive market growth in the near future.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.