Joint braces are accessories that are used either to protect the joint or to restrict the movement of the joint. Joint braces are also used to assist the joint movement, decreases weight bearing forces for specific purpose, to assist in rehabilitation of fractured joint after taking away the cast and to assist in regaining normal shape and/or functioning of the joint.
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Aging leads to weakening of bones and thereby resulting in increasing bone fractures worldwide. Thus, global rise in geriatric population is fueling the demand for joint braces and therefore driving global joint braces market towards growth. In addition, swift rise in the osteoporosis incidences globally and road accidents leading to joint fractures are also resulting in the growth of the joint braces market.
Joint braces are widely used by sportsmen of various sports such as badminton, athletics, cycling, basketball and football. Use of joint braces is increasing in sports industry as prophylactic for joint. With increasing global sports activities, demand for joint braces is rapidly increasing. Affordable cost of the joint braces is fuelling the increasing use of joint braces globally.
In spite of strict regulations, entry in the global joint braces market is relatively easy. Global joint braces market is highly fragmented with many market players competing with each other. Many players are operating at global layer while many players are operating at domestic level. Key players in the joint braces market are expected to implement predatory growth strategies such as mergers and acquisitions, long term contracts with orthopedic hospitals and institutions to sustain in the market and expand their market share.
Geographically, global joint braces market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW) market. Presently, North America is a market leader in global joint braces market and is closely followed by Europe. Factors driving the growth of joint braces market in the North America are developed sports infrastructure boosting more people to enter into sports field, higher healthcare spending and presence of geriatric population. Asia-Pacific joint braces market is a lucrative market. Factors expected to escalate the growth of joint braces market in the Asia-Pacific region are rapidly improving healthcare infrastructure on the rapidly increasing medical tourism industry in this region mainly in countries, India and China. India and China accounts for largest population pool globally, and thus on the basis of large pool of geriatric population demand for joint braces in India and China is expected to increase drastically and thereby driving the Asia-Pacific joint braces market towards growth. Apart from India and China, Japan will play important role in joint braces market on the grounds of initiative taken by Japanese government to improve healthcare facility in the country.
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Some of the key players contributing to the global joint braces market are Arthrex, Inc., Biomet, Inc., BREG, Inc., DePuy Mitek, Inc. and DJO Global, Inc.
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