Orthopedic Trauma Fixation Devices Market will going to be Worth US$9.3 bn by the End of 2020
A new Transparency Market Research report states that the globalorthopedic trauma fixation device market was valued at US$6.1 bn in 2014 and is anticipated to reach US$9.3 bn by 2020, by expanding at a CAGR of 7.20% from 2014 to 2020. The title of the report is “Orthopedic Trauma Fixation Devices Market – Global Forecast, Share, Size, Growth and Industry Analysis 2014 – 2020.”
Injuries that affect the body’s musculoskeletal system are called orthopedic traumas. These types of injuries require immediate attention from an orthopedic surgeon or orthopedic trauma specialist because of their seriousness. The devices utilized to fix orthopedic traumas are called orthopedic trauma fixation devices. These implants are usually composed of metals. However, the increasing count of research and development activities by the major device manufacturers has enabled the usage of many other kinds of materials to improve implant performance.
As per the report, the rising occurrence of fractures and the increasing healthcare expenditure globally are amongst the prime factors fuelling the market for orthopedic trauma fixation devices. In addition, the introduction of new procedure techniques coupled with positive clinical outcomes is another major factor augmenting the growth of the market. Furthermore, the absence of substitutes and the rising sports injuries will also impact the market positively. Industry partnerships, collaborations, and mergers and acquisitions are increasingly being seen in the market. In addition, the mounting popularity of internal fixators made from bioabsorbable (non-metallic) materials as opposed to the conventionally used metallic materials is also a key opportunity seen in the market for orthopedic trauma fixation devices.
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On the other hand, according to the report, the absence of awareness regarding these devices and the soaring cost of surgery may impede the growth of the market in the coming years. In addition, the rising need for a double surgery due to a number of reasons and the lack of health insurance within emerging nations will also pose a negative impact on the development of the market.
In terms of the type of fixator, the report segments the market into external fixators and internal fixators. Amongst these, internal fixators lead the market and are predicted to expand at a 6.80% CAGR between 2014 and 2020.
On the basis of type of internal fixator, the market is segmented into intramedullary nail, intramedullary screw, and plate and screw system. Amongst these, plate and screws are the most popular type of internal fixators and the market for plate and screws internal fixators is poised to expand at a 7.1% CAGR from 2014 to 2020.
In terms of composition, the report segments the market into bioabsorbable fixators and metallic fixators. Amongst these, bioabsorbable fixators hold the largest share in the market and are predicted to expand at an 8.40% CAGR from 2014 to 2020.
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Geographically, the report segments the market into North America, Europe, Asia, and Rest of the World (RoW). Amongst these, the region of North America leads globally with the U.S. as the top market. On the other hand, Asia is the most swiftly developing orthopedic trauma fixation devices market. Japan, China, and some of the nations in the Eastern Mediterranean and South East Asia are also amongst the most rapidly growing orthopedic trauma fixation devices markets.
As mentioned in the report, the prominent players operating in the market are Smith & Nephew, DePuy Synthes, Orthofix Holding Inc., Zimmer Holding Inc., and Stryker Corporation, among others.