The Global Trauma Fixation Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Trauma Fixation Devices Market is estimated to be 5.9 million in 2018 and predicted to rise to USD 7.99 million by 2023 with a CAGR of 6.24%. The market is segmented by Type (Internal and External Trauma Fixation Devices), by End Users (Hospitals and POC testing). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The upsurge in elderly population worldwide has amplified the growth of market, as the aged people are more prone to osteoporosis leading to an increased demand for trauma fixation devices. Further, increase in disposable incomes and growing awareness about latest progressions in medical field along with the availability of advanced medical facilities, favourable reimbursement policies, rise in healthcare expenditure, high costs associated with surgeries, competitive pricing, and availability of substitutes have contributed to the growth of Latin America trauma fixation devices market.
However, problems associated with biocompatibility of the internal and external trauma devices and the high cost of advanced technologies are limiting the reach of the trauma fixation devices in these region.
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 products that are less invasive and more anatomical, such as low-profile plating system for extremity fixation procedures.
North America embodies the largest share of the global trauma devices market, owing to supportive policies by governments which are facilitating purchase of these devices. The rise in geriatric population and personal disposable income of people in Asian nations such as China and India are causative to the market growth. Latin American countries such as Brazil and Mexico are anticipated to register greater market growth for trauma devices owing to improving access to healthcare, higher accident cases and favourable demographics.
DePuy Synthesis, Stryker Corporation, Smith & Nephew, Zimmer, and Biomet are the major companies operating in this segment which control a major share of 75% of the global trauma fixation devices market. Other major companies operating are Arthrex, Conmed, Integra Lifesciences Corporation, Medtronic, Inc., and Bioretec, Inc.
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