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Global Trauma Fixation Devices Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Type (Internal trauma fixation devices, External Trauma fixation devices), End Users & Region – Industry Forecast (2023 to 2028)

Published: March, 2023
ID: 297
Pages: 175
Formats: report pdf report excel report power bi report ppt

Trauma Fixation Devices Market Size (2023 to 2028)

As per the report, the global trauma fixation devices market size is predicted to reach USD 9.01 Billion by 2028 from USD 6.66 Billion in 2023, growing at a CAGR of 6.24% forecast period. 

Trauma is an injury or wound to a living body caused by external force or violence. Trauma can be caused by various factors, such as accidents, falls, violence, and natural disasters. The number of people who suffer from trauma each year is growing significantly. According to the World Health Organization (WHO), an estimated 5 million people die yearly from injuries. Many suffer from non-fatal injuries that can have significant physical, emotional, and economic consequences. In the United States, as the Centers for Disease Control and Prevention (CDC), 174 million people, or about 53% of the population, experience at least one traumatic event in their lifetime. Physical injuries such as burns, fractures, sprains, dislocations, and strains are classified under trauma. Various treatments are available to treat trauma based on the injury's severity. Trauma fixation devices are one of the critical treatment methods for medical conditions. These devices provide delay at the fracture site, decrease the gap, and ensure the primary bone healing process by Callus formation. Therefore, it is an essential treatment for bone fracture and tissue degeneration. 

MARKET DRIVERS:

The growing geriatric population worldwide promotes the global trauma fixation devices market.

Aged people possess a higher risk for osteoporosis leading to an increased demand for trauma fixation devices. According to United Nations, an estimated 703 million people were over 65 years in 2019, which is anticipated to hit USD 1.5 billion by 2050. In addition, factors such as significant growth in the number of road accidents that happen every year and technological advancements are fuelling the market's growth rate. According to the WHO, 1.35 million people die yearly from road accidents. Also, nearly 20 to 50 million people suffer non-fatal injuries resulting in disability. The increasing number of sports-related injuries and the growing number of multispecialty hospitals providing treatment for trauma injuries are expected to support the global trauma fixation devices market. The rising incidence of orthopedic diseases such as osteoporosis and rheumatoid arthritis is forecasted to favor the market growth. In addition, the increase in disposable income and rising awareness regarding trauma fixation devices among the countries such as the U.S. and the U.K. will surge the market growth.

Furthermore, increase in disposable incomes and growing awareness about the latest developments in the medical field, along with the availability of advanced medical facilities, favorable reimbursement policies, a rise in healthcare expenditure, high costs associated with surgeries, competitive pricing, and availability of substitutes have also contributed to the growth of the global trauma fixation devices market.

The global trauma fixation devices market is forecasted to witness lucrative opportunities increasing in the geriatric population worldwide. An increase in advanced technological advancements in the healthcare industry is expected to create many occasions in the market. The initiatives and funds raised by the government also provide some opportunities for the key players in the market. The funds raised by the government provide enormous market growth opportunities. In emerging economies like Asia and Latin America, the market escalates the market by untapped opportunities and high industrialization rates.

MARKET RESTRAINTS:

However, compatibility issues like infection and allergy are associated with external and internal trauma fixation devices. Also, the high cost of these devices inhibits their adoption or usage in developing nations (with low disposable income) such as India, China, and Brazil. In addition, the scarcity of skilled workforce handling trauma fixation devices limits the market’s growth rate. The complications arising from using trauma fixation devices post-treatment are expected to impact market growth negatively.

Impact of COVID-19 on the global trauma fixation devices market:

The COVID-19 pandemic is an inimitable global public health emergency declared by the WHO, affecting almost all business sectors. Governments worldwide have imposed strict guidelines to avoid the spread of the disease. As a result, the manufacturing of the devices has come to a halt during the time of lockdown. The limitations on non-essential medical services, including orthopedic services integrated with reduced production of orthopedic instruments and implants due to enlarging factory closures in different countries.

Due to the growing number of people infected with coronavirus, hospitals and clinics have taken COVID-19 patients on priority and postponed and canceled many elective surgeries that require trauma fixation devices in the early days of COVID-19. Furthermore, the supply-chain disruption raised by COVID-19 has further hampered the demand levels for these devices for a short time. On the other hand, a few hospitals and clinics have limited themselves to purchasing only essential medical supplies and ignored purchasing non-essential medical supplies for a short time during the COVID-19 pandemic. As of now, the situations are changing due to the reduced impact of COVID-19, uplifting the earlier restrictions, and gradual improvement in performing elective surgeries. Therefore, the market is expected to recover and register a healthy CAGR during the forecast period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Covered

By Product Type, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

DePuy Synthesis, Smith & Nephew, Stryker Corporation, Zimmer, Biomet, Integra Lifesciences Corporation, Arthrex, Medtronic, Inc., Conmed, and Bioretec, Inc.

 

In this research report, the global trauma fixation devices market has been segmented and sub-segmented based on the type, end-user, and region.

Trauma Fixation Devices Market - By Type:

  • Internal Trauma Fixation Devices
    • Screws
    • Plates
    • Rods
    • Wires
    • Intramedullary Nails
  • External Trauma Fixation Devices
    • Unilateral Fixation
    • Circular Fixation
    • Hybrid Fixation

Based on type, the internal fixation devices segment is employed to fix fractured bones indefinitely by implanting various devices. As a result, the internal trauma fixation devices segment holds the largest share, representing about 85% of the global trauma fixation devices market. Further, the demand for better services in trauma surgeries has led manufacturers to develop less invasive and more anatomical products, such as low-profile plating systems for extremity fixation procedures.

Trauma Fixation Devices Market - By End Users:

  • Hospitals
  • Point of Care testing
  • Others

Trauma Fixation Devices Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Regionally, the trauma fixation devices market in North America captured the largest share of the global market in 2022 and is predicted to continue holding the leading share throughout the forecast period owing to supportive government policies facilitating these devices' purchases. Companies with notable dominance in the global trauma fixation devices market are in the North American region, significantly contributing to the regional market's growth. In addition, the growing number of people suffering from diseases such as osteoporosis and rheumatoid arthritis is estimated to favor the market growth in this region in the coming days. According to the Centers for Disease Control and Prevention (CDC), rheumatoid arthritis affects approximately 1.3% of the adult population in the United States. Therefore, the U.S. contributed significantly to the North American region and helped North America to register the lead among all the regions in the global market in 2021.

The trauma fixation devices market in Europe was the second largest regional market in the global market in 2022 and is expected to occupy a substantial share of the worldwide market during the forecast period. Therefore, E.U. countries such as U.K. and Germany are expected to have healthy growth in the coming days.

The Asia-Pacific trauma fixation devices market is anticipated to showcase the fastest CAGR worldwide during the forecast period. Asia-Pacific produces many possibilities for the key players operating in the trauma fixation devices market due to a large population, increased knowledge about the devices, the development of the healthcare industry, and an increase in demand for minimum invasive procedures. In addition, the rise in the geriatric population and personal disposable income of people in Asian countries such as China and India contribute to the market growth in these emerging nations.

The Latin American trauma fixation devices market is anticipated to grow due to improved access to healthcare, higher accident cases, and favorable demographics.

The trauma fixation devices market in MEA is predicted to grow at a CAGR of 6.67% during the forecast period.

KEY MARKET PLAYERS:

Some notable companies dominating the global trauma fixation devices market profiled in this report are DePuy Synthesis, Smith & Nephew, Stryker Corporation, Zimmer, Biomet, Integra Lifesciences Corporation, Arthrex, Medtronic, Inc., Conmed, and Bioretec, Inc.

RECENT MARKET HAPPENINGS:

  • In December 2020, DePuy Syntheses introduced a radial head replacement system of implants. The system is designed for patients with destabilized radial head fractures.
  • In September 2020, Stryker Corporation launched the T2 ICF Intramedullary nailing system, which provides a solution for patients suffering from severe foot conditions like Charcot foot. This is seen in patients with diabetes resulting in poor bone quality. 
  • In October 2017, Zimmer Biomet announced Vitality+ and Vital spinal fixation systems in the U.S. The Vitality + Spinal Fixation Systems includes Vitality + POWER for easy and controlled pedicle preparation. 
  • In September 2019, Smith + Nephew introduced the INTERTAN Product Assurance (IPA) program at the Orthopedic Trauma Association.

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FAQ's

How much was the global trauma fixation devices market worth in 2021?

The global trauma fixation devices market was valued at USD 5.9 billion in 2021.

Which region had the largest trauma fixation devices market in 2021?

North America accounted for the largest share of the global market in 2021.

Which region is growing the fastest in the global trauma fixation devices market?

The Asia-Pacific region is anticipated to register the highest CAGR during the forecast period.

Who are the leading players in the trauma fixation devices market?

DePuy Synthesis, Smith & Nephew, Stryker Corporation, Zimmer, Biomet, Integra Lifesciences Corporation, Arthrex, Medtronic, Inc., Conmed, and Bioretec, Inc. are a few of the major players in the trauma fixation devices market.

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