Global Trauma Fixation Devices Market 2024-2031

Global Trauma Fixation Devices Market 2024-2031

Global Trauma Fixation Devices Market Size, Share & Trends Analysis Report by Product Type (Internal Fixators and External Fixators), by Material (Stainless Steel, Titanium, and Bioabsorbable Materials), by Applications (Upper Extremities, Lower Extremities, Spine, and Others), and by End-User (Hospitals, Ambulatory Surgical Centers (ASCs), and Trauma Centers) Forecast Period (2024-2031)

The global trauma fixation devices market is anticipated to grow at a CAGR of 7.4% during the forecast period (2024-2031). Significant factors contributing to the trauma fixation devices market include the rising of degenerative bone disorders, increasing investment in R&D of the trauma fixation devices, and increasing number of trauma and accident cases. According to the national statistics provided by the UK government, in 2022, 29,742 people were killed or seriously injured (KSI) casualties, 1,711 fatality cases were registered and 135,480 were casualties of all severities. As a result, the number of surgical procedures is increasing in the UK.

Segmental Outlook

The global trauma fixation devices market is segmented by product type, material, application, and end-user. Based on the product types, the market is sub-segmented into internal fixators and external fixators. Internal fixators include plates and screws, rods and pins, wires and cables, intramedullary nails, and cannulated screws. External fixators include unilateral and bilateral fixators, circular fixators, and hybrid fixators. Based on the materials, the market is sub-segmented into stainless steel, titanium, and bioabsorbable materials. Based on the applications, the market is sub-segmented into upper extremities, lower extremities, spine, and others (rib fixation). Further, based on the end-user, the market is sub-segmented into hospitals, ambulatory surgical centers, and trauma centers. Among the materials, the bioabsorbable material sub-segment is projected to hold a significant share of the market, owing to the rising adoption of bioabsorbable materials in trauma devices degrade in the body, eliminating the need for removal surgeries and improving outcomes in orthopedic treatment.

The Bioabsorbable Materials Sub-Segment is Anticipated to Hold a Considerable Share of the Global Trauma Fixation Devices Market

Among the materials, the bioabsorbable materials sub-segment is expected to hold a considerable share of the global trauma fixation devices market. The segmental growth is attributed to the reduced need for removal surgery, and continuous advancements in biomaterials technology, regulatory approvals. In March 2023, Bioretec Ltd. received FDA market authorization for its RemeOs™ trauma screw, a bioresorbable magnesium alloy implant for bone fracture healing. It aimed to replace traditional titanium and steel implants, eliminating the need for removal surgery, and enhancing surgical outcomes. RemeOs™ supports operational goals for orthopedic clinics and improves the value proposition for patients with ankle fractures.

Regional Outlook

The global trauma fixation devices market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Europe is anticipated to hold a prominent share of the market across the globe. One of the significant factors, including a surge in sports-related injuries, boosted the demand for trauma fixation solutions. According to the 2023 National Institutes of Health (NIH) study titled ""2021/22 Rugby Europe Injury Surveillance Report: SuperCup, Under-20, and Under-18 Championship,"" school and under-18 athletes reported injury rates below 47 per 1000 player-match-hours, about half of those in senior adult male international competitions.

The North America Region is Expected to Grow at a Significant CAGR in the Global Trauma Fixation Devices Market

Among all regions, the North American region is anticipated to grow at a considerable CAGR over the forecast period. The regional market growth is attributed to the rising incidence of orthopedic surgeries, the increasing industrialization leading to a heightened incidence of unintentional injuries including workplace injuries, and the increasing prevalence of traumatic injuries such as fractures and orthopedic trauma. According to the US Bureau of Labor Statistics, there were 5,486 fatal work injuries recorded in the US in 2022, marking a 5.7% increase from the 5,190 recorded in 2021. The fatal work injury rate was 3.7 fatalities per 100,000 full-time equivalent workers, up from 3.6 per 100,000 full-time equivalents in 2021. Owing to such factors, major key players are encouraged to introduce the product to address the prevailing market demand.In September 2023, Orthofix Medical launched its Galaxy Fixation Gemini system in the US. A stable external fixation system for treating trauma-induced fractures in the lower and upper limbs.

Market Players Outlook

The major companies serving the global trauma fixation devices market include CONMED Corp., DePuy Synthes (a Johnson & Johnson company), Integra LifeSciences Holdings Corp., Smith & Nephew Plc, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2024, Extremity Medical LLC partnered with Henry Schein, Inc., a global healthcare solutions company, expanding its orthopedic extremity implant systems. The collaboration aimed to enhance healthcare outcomes globally.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global trauma fixation devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.