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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 (2022 to 2027)

Published: January, 2022
ID: 297
Pages: 175
Formats: report pdf report excel report power bi report ppt

Trauma Fixation Devices Market Size (2022 to 2027)

As per the report, the global Trauma Fixation Devices Market size is predicted to reach USD 8.48 Billion by 2027 from USD 6.27 Billion in 2022, growing at a CAGR of 6.24% forecast period.

According to the Centers for Disease Control and Prevention (CDC), trauma is defined as “an injury or wound to a living body caused by the application of external force or violence.” Physical injuries such as burns, fractures, sprains, dislocations, and strains are classified under trauma. Currently, to treat trauma, various treatments are available based on the severity of the injury.

Trauma fixation devices are one of the key treatment methods for the aforementioned medical conditions. These devices provide delay at the fracture site, decrease the gap, and ensure the primary bone healing process by Callus formation. It is an essential treatment for bone fracture and tissue degeneration.  As per the WHO, 1.35 million people die every year due to road accidents. Also, nearly 20 to 50 million people suffer non-fatal injuries resulting in disability.

MARKET DRIVERS:

Y-O-Y growth in the geriatric population worldwide is majorly promoting the global trauma fixation devices market.

Aged people possess a higher risk for osteoporosis leading to an increased demand for trauma fixation devices. Additionally, 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. 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. Y-O-Y growth in the incidence of orthopedic diseases such as osteoporosis and rheumatoid arthritis is forecasted to favor the market growth. The increase in disposable income and rising awareness regarding trauma fixation devices among the countries such as the U.S and U.K. are to 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 in 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 base 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 is inhibiting the adoption or usage in developing nations (with low disposable income) such as India, China, and Brazil.

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

The COVID 19 pandemic is an inimitable global public health emergency issue declared by the WHO, affecting almost all the business sectors. Governments around the world have imposed strict guidelines to avoid the spread of the disease. The manufacturing of the devices has come to a halt at 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, are likely to decline the market's growth rate during this lockdown period. But, once the lockdown has come to an end, there has been a slight increase in terms of revenue. Therefore, the market shares are to grow at a double rate during the period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

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 on 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. 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, North America represents the largest share of the global trauma devices market, owing to supportive government policies facilitating these devices' purchases.

Asia-Pacific produces many possibilities for the key players operating in the trauma fixation devices market due to a large population, an increase in knowledge about the devices, the development of the healthcare industry, and an increase in demand for minimum invasive procedures. 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.

Latin American countries such as Brazil and Mexico are anticipated to register more significant market growth for trauma devices owing to improving access to healthcare, higher accident cases, and favorable demographics.

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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