Global Trauma Fixation Devices Market is projected to grow at a CAGR of 8.5% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Trauma Fixation Devices Market by Type (Internal Fixators, External Fixators), Material (Stainless Steel, Titanium), Site (Lower Extermities, Upper Extermities), End-User (Hospitals, Ambulatory Surgical Centers, Orthopedic Centers), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global trauma fixation devices market is expected to grow from USD 8.13 billion in 2019 to USD 15.62 billion by 2027, at a CAGR of 8.5% during the forecast period 2020-2027. North America held the largest market share in the year 2019. This growth was ascertained to the rising number of geriatric patients suffering from osteoporosis, increasing burn cases, and various other bone-related diseases. The U.S. holds the largest share in the North America region, owing to the supportive government policies, rising prevalence of orthopedic diseases, and an increasing number of geriatric patients suffering from osteoporosis. The Asia-Pacific region is expected to witness significant growth from China and India, owing to the rising personal disposable income. The market in Japan is expected to witness significant growth due to the rising geriatric population base and increasing technological advancements in trauma fixation devices.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Some of the notable players in the market are Integra LifeSciences, Acumed LLC, Bioretec Ltd., Conmed Corporation, Smith & Nephew, Wright Medical Group N.V., Zimmer Biomet Holdings Inc, B. Braun Melsungen AG, Stryker Corporation, and Depuy Synthes.
The type segment includes internal fixators and external fixators. The internal fixators are further segmented plates, screws, and nails. The external fixators are further segmented into unilateral & bilateral fixators, circular fixators, and hybrid fixators. The external fixators segment holds the largest market share, due to the rising incidence of bone-related injuries, increasing technological advancements in external fixation devices, and increasing usage of external trauma fixation devices. The internal fixators segment is anticipated to witness significant growth, owing to anatomical compatibility and cost-effectiveness. The material segment is classified into stainless steel and titanium. The stainless steel segment holds the largest market share, due to increasing demand from low-income countries, cost-effectiveness, and properties like corrosion resistant as compared to other biomaterials. The titanium segment is anticipated to witness significant growth due to various biomechanical applications and growing importance from developed countries. The site segment includes lower extermities and upper extermities. The lower extermities are further segmented into hip & pelvic, lower leg, foot & ankle, and thigh levels. The upper extermities is further segmented into hand & wrist, shoulder, elbow, and arm. The lower extermities segment holds the largest market share, as the degenerative bone diseases like arthritis, osteoporosis, and various others cause friction between the joints and reduce bone strength. Based on end-user, the market is segmented into hospitals, ambulatory surgical centers, and orthopedic centers. The orthopedic centers segment holds the largest market share, owing to the availability of state-of-the-art facilities and an increasing number of orthopedic centers.
The hospital segment is anticipated to witness significant growth due to cost-effective treatments provided by various government hospitals, an increasing number of multispecialty hospitals, and an increase in the number of road accidents. The factors driving the market are the increasing number of road accidents, increasing demand for trauma fixation devices, technologically advanced products, increasing prevalence of degenerative bone diseases, and increasing geriatric population rate. The increase in disposable income and growing awareness about the medical field’s latest developments will propel the market. The factors restraining the market are post-surgery complications and lack of skilled professionals. The initiatives and funds raised by the government will provide market growth opportunities.
About the report:
The global trauma fixation devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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