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The global trauma fixation devices market was valued at USD 6.5 billion in 2021 and it is anticipated to grow up to USD 11.0 billion by 2031, at a CAGR of 5.4% during the forecast period.
Trauma fixation devices are devices that are used to stabilize bones and soft tissue in order to allow the body to heal from injuries. These devices can be external or internal, and are typically made from metal or plastic. External devices include casts and splints, while internal devices include screws, plates, and pins.
Global Trauma Fixation Devices Market Scope and Report Structure
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Market Trends and Drivers
Growing incidence of road accidents across the globe will boost the market expansion
Rising incidence of road accidents is estimated to propel the trauma fixation devices market progression. According to the World Health Organization (WHO), approximately 1.25 million fatalities are observed annually due to road traffic accidents and crashes. An additional 20-50 million people suffer from non-fatal injuries, with many incurring physically disabilities. Thus, road traffic accidents are considered as one of the leading causes of death and disability across the globe.
Market Restraints and Challenges
Trauma fixation devices are used for complex surgical procedures. Moreover, handling the latest technologically advanced products requires skilled professionals. However, the lack of trained professionals to operate advanced trauma fixation devices is anticipated to cause hindrance in the industry expansion. Furthermore, the novel trauma fixation devices are associated with complex surgical procedures requiring skilled healthcare professionals to operate, thus hampering the industry progression. With majority of the underdeveloped and developing economies lacking the adequate human and infrastructural resources, it is predicted to hamper the industry demand to certain extent over the coming years.
Global Trauma Fixation Devices Market Segmental Overview
The report analyses the global Trauma Fixation Devices Market based on Product, Material, Site, End-use and Region.
Global Trauma Fixation Devices Market by Product
Based on the product, the trauma fixation devices industry is bifurcated into external fixators, internal fixators, and others. Of these, the internal trauma fixation devices segment registered significant revenue in 2021. This is owing to the high patient preference towards internal fixators owing to its better procedural outcome. Additionally, internal fixators allow rapid recovery and shorter hospital stays, thereby influencing the market demand. In addition, internal fixators also reduce the chances of improper healing of broken bones, thereby fostering the industry value. Various players are focusing on development of biocompatible devices, thereby leading to the market revenue.
Global Trauma Fixation Devices Market by Material
By material, the industry is divided into stainless steel, titanium, and others. The stainless steel segment of the trauma fixation devices market is expected to grow at a rapid pace through 2030. Stainless steel is one of the important materials used in the fabrication of internal fixation implants due to its quality such as high corrosion resistance under oxygen-rich environment as compared to other biomaterials. In addition, it is also cost effective in nature, further contributing to the material’s high adoption. Furthermore, countries with low income or limited insurance coverage mostly prefer usage of stainless-steel attributed to its cost-effective nature, thereby contributing to the segment expansion.
Global Trauma Fixation Devices Market by Site
Based on site, the trauma fixation devices industry is categorized lower extremities and upper extremities. The lower extremities segment accounted for lucrative market share in 2021. This is owing to the Bone degenerative diseases such as osteoporosis, arthritis and others that cause friction between the joints and ultimately reduces bone strength leading to rapid injuries.
Global Trauma Fixation Devices Market by End-user
Based on the end-user, the industry is categorized into hospitals, ambulatory surgical centers, orthopedic centers, and others. Among these, the hospital segment is expected to depict significant CAGR from 2022 to 2030 attributed to the growing incidence of injuries related to sports and hike in number of road accidents. Moreover, increasing number of multispecialty hospitals with an aim to provide appropriate treatments for trauma injuries, mostly in the developing countries including India will propel the industry revenue. Additionally, cost effective treatments provided by various government hospitals in low-income countries will act as major market expansion fuelling factors.
Geographical Analysis of Global Trauma Fixation Devices Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America trauma fixation devices market is poised to witness significant growth rate through 2027. Presence of major market leaders such as Stryker Corporation, Johnson and Johnson will significantly drive the North America market. Moreover, rising prevalence of orthopedic diseases including osteoporosis and rheumatoid arthritis will show a positive growth trajectory of trauma fixation devices. As arthritis is the leading cause of disability among the population, it increases the demand for trauma fixation devices in the countries of North America.
Major Players in the Global Trauma Fixation Devices Market
The key players in the market Zimmer Biomet Holdings, Inc., Stryker Corporation, Johnson and Johnson (DePuy Synthes), Wright Medical Group, Inc., Orthofix International N.V., Cardinal Health Inc, Medtronic, Integra LifeSciences, Double Medical Technology Inc., and Citieffe S.R.L, among others.
COVID-19 Impact
The COVID-19 pandemic has severely impacted the global economies with all the sectors witnessing a significant slump during 2020. The healthcare sector was one of the most severely impacted sectors as the pandemic put a tremendous pressure on the healthcare systems to contain the spread of infection. Due to the non-essential nature of trauma fixation procedures, many treatments and surgical procedures were noted to be suspended or postponed indefinitely during pandemic. Thus, low demand was observed for trauma fixation devices amidst the initial months of pandemic, thereby hampering the industry growth.
Recent Developments
In June 2022, Paragon 28, Inc. announced the launch of its Monkey Rings™ Circular External Fixation System for trauma, deformity correction, and limb salvage. The Monkey Rings Circular External Fixation System is designed to use external wires and screws that can be fixed into bone to maintain anatomic position while providing stability, preservation of soft tissue, and allow for adjustability and functionality.
In August 2021, OrthoGrid Systems, Inc., announced the launch of its new OrthoGrid Trauma Application. The new OrthoGrid Trauma is the latest application of OrthoGrid's Surgical Digital Platform.
In July 2021, Endeavor Orthopedics received the 510k approval from the US FDA for their Summit Patella Plating System. This system is indicated in the surgical stabilization of patella fractures during open reduction internal fixation procedures in adults.
In June 2021, Zimmer Biomet launched Bactiguard-coated trauma implants for infection prevention in select Europe and the Middle East and Africa markets. In January 2021, these implants received the CE mark.
In June 2018, DePuy Synthes announced the launch of the Femoral Recon Nail System in the U.S. for treatment of thigh bone fractures, expanding the company’s trauma portfolio for patients suffering from hip and femur fractures.
In May 2018, the company announced a definitive agreement to acquire the assets of Medical Enterprises Distribution, LLC, a developer of surgical impactor technology, to further develop surgical impactor technology for orthopedic surgical procedures.
Trauma Fixation Devices Market Report Coverage
The report offers a comprehensive quantitative as well as qualitative analysis of the current global Trauma Fixation Devices Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
A thorough analysis of market trends and restraints is provided.
Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
The forecasts in this report are made by examining the recent trends along with future Trauma Fixation Devices Market potential from 2021 to 2031 in terms of revenue.
Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Trauma Fixation Devices Market are also analyzed.
Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global surface disinfectants industry.
Frequently Asked Questions
Q1. How big is the trauma fixation devices market?
Ans. The global trauma fixation devices market size was USD 6.5 billion in 2021 and is anticipated to reach USD 11.0 billion in 2031, growing at a rate of 5.4% from 2022 to 2031.
Q2. What is the trauma fixation devices market growth rate?
Ans. The growth rate of the trauma fixation devices market is 5.4%.
Q3. Which region holds a major market share for the market?
Ans. North America holds a major market share of the Trauma Fixation Devices Market in 2021.
Q4. Which segment accounted for the largest trauma fixation devices market share?
Ans. By end-user, hospital segment accounted for the largest trauma fixation devices market share.
Q5. Who are the key players in the trauma fixation devices market?
Ans. The global trauma fixation devices market report includes players such as Zimmer Biomet Holdings, Inc., Stryker Corporation, Johnson and Johnson (DePuy Synthes), Wright Medical Group, Inc., Orthofix International N.V., Cardinal Health Inc, Medtronic, Integra LifeSciences, Double Medical Technology Inc., and Citieffe S.R.L., among others.
Q6. What are the factors driving the trauma fixation devices market growth?
Ans. The major factors driving the growth of the market are growing technological advancements in trauma fixation devices coupled with increasing rate of geriatric population
Q7. What are the key growth strategies of trauma fixation devices market players?
Ans. The key growth strategies of trauma fixation devices market players are product launch and product approval.
Q8. Which region will provide more business opportunities for the Trauma Fixation Devices Market during the forecast period?
Ans. The Asia-Pacific region will provide more business opportunities for the Trauma Fixation Devices Market during the forecast period.
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