Trauma Fixation Device Market, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis

Trauma Fixation Device Market, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis

The Global Trauma Fixation Devices Market will reach US$ 10.42 Billion by 2027. Trauma refers to physical injuries such as burns, dislocations, fractures, sprains, and strains produced by an external source (fire or accident). Furthermore, trauma is defined by the Centers for Disease Control and Prevention (CDC) as a damage or wound to a live body produced by the application of external force or violence. Furthermore, various techniques are available to treat trauma, and their use by surgeons is determined by the degree of the injury. Surprisingly, one of the essential treatment approaches for the aforementioned medical disorders is trauma fixation devices.

Global Trauma Fixation Devices Industry is expected to expand at a CAGR of 5.7% during 2021-2027:

Globally, companies are developing technologically improved goods to meet the increased need for trauma fixation devices while gaining market share. Drug-eluting implants, bioresorbable implants, and nano-coated devices, among other technologically advanced goods, have significantly boosted the use of trauma fixation devices in surgery centers and hospitals. Trauma fixation devices have experienced revolutionary technological and user-friendliness modifications, resulting in increased market growth.

Throughout The Forecast Period, Internal Fixators Are Expected to Dominate:

Internal trauma fixation devices will account for more than half of the market by 2027, owing to a strong patient preference for internal fixators due to improved procedural outcomes. Internal fixators also enable faster recovery and shorter hospital stays, influencing market demand. Internal fixators also lower the chances of damaged bones not healing correctly, increasing the industry's value. Various players are concentrating their efforts on developing biocompatible devices, resulting in market revenue.

The Impact of COVID-19 on the Global Trauma Fixation Devices Market:

The COVID-19 pandemic has substantially impacted world economies, with all industries experiencing considerable declines in 2020. The healthcare industry was severely damaged since the pandemic put enormous strain on healthcare institutions to contain infection transmission. Many treatments and surgical procedures were documented to be suspended or postponed indefinitely during the pandemic due to the non-essential essence of trauma fixation operations. As a result, during the earlier months of the pandemic, demand for trauma fixation devices was low, stifling the industry's growth. According to Renub Research, the Global Trauma Fixation Devices Market Size was worth US$ 7.49 Billion in 2021.

The Trauma Fixation Devices Market in Hospitals Will Benefit from Quick and Cost-Effective Results:

Hospitals for trauma fixation treatments are expected to grow until 2027, owing to an increase in the frequency of sports-related injuries and vehicle accidents. Furthermore, an increase in multispecialty hospitals to provide proper trauma care, primarily in emerging nations such as India, will boost industry revenue. Likewise, the low-cost treatments given by various government institutions in low-income countries will serve as a significant market expansion catalyst.

The Existence of Key Players in the North American Market to Stimulate Market Growth:

Over the years, the market for trauma fixation devices in North America has remained significant. The presence of key market leaders such as Stryker Corporation will substantially impact the industry in North America. Furthermore, the increased prevalence of orthopedic illnesses such as osteoporosis and rheumatoid arthritis will propel trauma fixation devices. Moreover, as arthritis is the most common cause of disability in the population, the need for trauma fixation devices in North America is rising.

Market Players' Growth Strategies Are Centred On Expanding Their Customer Base:

Zimmer Biomet, Orthofix Medical Inc, B. Braun Meslungen AG, Stryker, Medtronic, Smith & Nephew, and Integra LifeSciences are a few notable firms in the market. To obtain a significant revenue share, these market actors used various mergers and acquisitions, collaborations, and new product launches.

Renub Research latest report “Trauma Fixation Device Market, Global Forecast By Products (External Fixators, Internal Fixators, Others), End User (Hospitals, Special Clinics, Ambulatory Surgery Centers, Others), Region (North America, Europe, Asia Pacific, South America and Middle East and Africa), Companies (Zimmer Biomet, Orthofix Medical Inc, B. Braun Meslungen AG, Stryker, Medtronic, Smith & Nephew, and Integra LifeSciences)” provides a detailed analysis of Trauma Fixation Device Industry.

Products - Market have been covered from 3 viewpoints:

1. External Fixators
2. Internal Fixators
3. Others

End User - Market have been covered from 4 viewpoints:

1. Hospitals
2. Special Clinics
3. Ambulatory Surgery Centers
4. Others

Region - Market have been covered from 5 viewpoints:

1. North America
2. Europe
3. Asia Pacific
4. South America
5. Middle East and Africa

Company Insights:
Overview
Recent Developments
Revenue

Company Analysis:

1. Zimmer Biomet
2. Orthofix Medical Inc
3. B. Braun Meslungen AG
4. Stryker
5. Medtronic
6. Smith & Nephew
7. Integra LifeSciences