[2020-2027]Trauma Products Market to Exceed USD 10.41 Billion, at 5.8% CAGR
Pune, Maharashtra, India, February 18 2021 (Wiredrelease) Allied Analytics –:The global trauma products industry was estimated at $6.61 billion in 2018 and is expected to reach $10.41 billion by 2026, growing at a CAGR of 5.8% from 2019 to 2026. Increase in incidence of orthopedic diseases, rise in the global geriatric population, and surge in occurence of road accidents and falls drive the growth of the global Trauma Products Market. On the other hand, strict government approval processes for trauma products hamper the growth to some extent. However, development in emerging economies is expected to pave the way for a number of opportunities for the key players in the industry.
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The internal fixators segment to maintain its leadership status till 2026-
Based on product, the internal fixators segment contributed to three-fourths of the global trauma products market revenue in 2018, and is expected to retain its dominance by the end of 2026. The same segment would also register the fastest CAGR of 6.2% throughout the forecast period. Rise in number of cases of joint disorders such as osteoarthritis & rheumatoid arthritis, wide availability of internal fixators, and increase in geriatric population across the globe drive the growth of the segment.
The lower extremities segment to rule the roost during the estimated period-
Based on application, the lower extremities segment held the largest share in 2018, garnering three-fifths of the global trauma products market. The same segment is also projected to grow at the fastest CAGR of 6.1% till 2026. Majority of the leading players in the lower extremity trauma products market are launching innovative products using advanced technologies to address the specific demands of their consumers, thereby augmenting the sale of trauma devices.
North America to maintain its dominance throughout the forecast period-
Based on geography, North America accounted for nearly half of the global trauma products market share in 2018, and is anticipated to maintain the lion’s share during 2019–2026. Increase in prevalence of orthopedic disorders, availability of advanced trauma products, and higher number of target population in this province has boosted the growth. The Asia-Pacific region, on the other hand, would showcase the fastest CAGR of 7.6% by 2026. Rise in incidence of bone degenerative diseases in various countries in the region, and rise in awareness regarding the benefits offered by trauma products fuel the growth.
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Key market players-
• Braun Melsungen AG
• Zimmer Biomet Holding Inc.
• Globus Medical, Inc.
• Accumed LLC.
• Johnsons & Johnsons
• Medtronic PLC.
• Nuvasive Inc.
• Smith & Nephew
• Stryker Corporation
• Colfax Corporation (DJO)
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