Orthopedic Trauma Devices Market is expected to be worth US$ 21.2 billion by 2033 | FMI Analyst
The Orthopedic Trauma Devices Market is predicted to grow at a CAGR of 7.1% over the forecast period, according to FMI’s analysis. The industry’s estimated value is predicted to increase from US$ 10.7 Billion in 2023 to US$ 21.2 Billion by 2033.
The market is poised to grow at a strong rate due to a surging number of people participating in sports and associated activities. Additionally, the increasing demand for excellent facilities available at orthopedic trauma and surgery centers is also contributing to market expansion. Moreover, several nations across the globe are initiating policies to boost the production of medical devices.
For instance, in March 2022, the government of India unveiled the draft policy – National Medical Devices Policy 2022. Under this policy, the industry would get enough boost to manufacture medical devices locally. Hence, the orthopedic trauma devices market would witness constant growth and development in the years to come.
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Going forward, recent developments aimed at resolving the issue of infection in trauma implants are projected to provide impetus to the market. For instance, in June 2021, Zimmer Biomet allied with Bactiguard to launch Zimmer Natural Nail (ZNN) equipped with Bactiguard technology. These Bactiguard implants would be available for patients and surgeons in Spain, the UK, Germany and other select EMEA markets. The Bactiguard implants would provide an effective and durable solution for infection prevention.
The demand for orthopedic trauma devices is projected to propel with the introduction of new surgical products aimed at driving enhanced patient experience. For instance, in May 2021, Orthofix Medical unveiled the launch of an ultrasonic surgical system named Oscar Pro Ultrasonic Arthroplasty Revision System. With this product, the company aims to reduce problems faced during the revision of failed cemented arthroplasties while conducting complex joint surgeries.
The market is further expected to be driven by increasing investments in the medical sector. For instance, in September 2022, Narayana Hrudayalaya declared the acquisition of Shiva and Shiva Orthopaedic Hospital, an orthopedic and trauma hospital in Bangalore. With this acquisition, Narayana Hrudayalaya extends its services into trauma and orthopedic specialties.
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Key Takeaways from the Orthopedic Trauma Devices Industry
- The U.S. is projected to be at the forefront of the orthopedic trauma devices market, attaining the market size of US$ 7.8 Bn by 2033. The increasing frequency of accident cases and surging use of digital orthopedics in the country is projected to boost the market growth.
- China is anticipated to grow at the fastest CAGR of 11.9% over the forecast period. The country is considerably contributing to the development of orthopedic trauma devices industry in the Asia Pacific. Research and development activities to enhance existing products and develop new products is projected to boost market development.
- Internal fixators segment is the top product type, growing at a CAGR of 7% over the forecast period. Rising adoption of internal fixators during orthopedic surgeries due to favorable reimbursement policies is predicted to boost the segment’s growth.
- Over the forecast period, hospitals are projected to hold the largest market share. This end user is expected to exhibit a CAGR of 6.8% over the forecast period. Increasing healthcare settings in mature markets and a tremendously increasing rate of hospitalizations are projected to contribute towards this segment growth.
Latest Updates from the Orthopedic Trauma Devices Industry
- In June 2022, Arthrex, Inc. extended substantial funding support for the new soft tissue injury in combination with skeleton trauma research grant. With the help of this funding, OREF, in association with OTA would conduct research for orthopedic trauma. This would also encourage more clinician scientists and investigators to follow orthopedic trauma research and further enhance patient care.
- In March 2022, Acumed unveiled Ankle Syndesmosis Repair System outfitted with Acu-Sinch Knotless technology. Trauma surgeons and ankle specialists together developed this system.
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List encompassing key players of orthopedic trauma devices are:
- Medtronic, Inc.
- Invibio Ltd.
- Weigao Group Co Ltd.
- Arthrex, Inc.
- Johnson & Johnson Company
- CONMED, Tornier, Inc.
- Stryker Corporation
- Zimmer Holding Inc.
- Olympus Corporation
Key Segments Covered in Orthopedic Trauma Devices Industry Research
By Product Type:
- Internal Fixators
- Intramedullary Nails
- External Fixators
- Unilateral Fixators
- Circular Fixators
- Hybrid Fixators
By Product Type by End User:
- Orthopedic and Trauma Centers
- Ambulatory Surgical Centers