Global orthopedic bracing devices market is expected to register remarkable growth over coming years due to rising prevalence of dietary diseases, geriatric population base and incidence rate of muscular injuries. Various technological innovations in bracing devices such as data synchronization system, customized implants and advance data sensors are further expected to drive the market growth of orthopedic bracing devices in near future. Furthermore, growing preference for orthopedic surgeries in osteoarthritis and use of braces in sports related injuries is additionally expected to fuel the orthopedic bracing devices market growth in the coming seven years.
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The entire orthopedic bracing devices market is segmented on the basis of product application and end users. The products are knee bracing & support systems, spinal orthosis system, upper extremity bracing system, ankle bracing system, back soft good systems, wrist & hand braces and pain management devices. Knee bracing & support system is expected to register fastest growth owing to increasing geriatric population base and sports injuries. The orthopedic bracing devices on the basis of application are studied with respect to joint reconstruction (digit replacement, hip replacement, wrist replacement and elbow replacement) and orthobiologics (stem cell therapy, bone allograft and bone growth & spinal stimulation). Orthobiologics segment is forecasted to register tremendous growth over the forecast period owing to rising adoption of stem cell technologies coupled with tissue engineering technologies. The end use segment of bracing devices market is studied with respect to hospitals, sports academy, orthopedic clinics, trauma centres, emergency centres and gyms. Regionally, North America held the highest market share owing to increasing prevalence of muscular diseases such as osteoarthritis and favourable government policies. Similarly, European market is expected to register speedy growth due to rising geriatric population base and sports injuries in this region. Increasing disposable income, healthcare awareness and flexible regulations of government are expected to provide fastest growth platform to orthopedic bracing devices market in Asia pacific region. Also, changing demographics in Latin American nations may drive the growth of bracing devices market in this region.
Prominent players in orthopedic bracing devices market are Arthrocare Corporation, Biomet Inc., Amedica Corporation, Apatech Limited, Conmed Corporation, Integra LifeSciences Holding Corporation, Alphatec Spine, Exatech Inc., Smith & Nephew plc, Stryker Corporation, Globus Medical Inc., BSN Medical and Zimmer Holding Inc. Technologically advanced smart implants fitted with microprocessors, customized implants for individual requirements and introduction of tracking devices are further expected to provide this market with lucrative growth prospects in near future.
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