Trauma Fixation Devices Market revenue to cross USD 9.2 Bn by 2027: Global Market Insights Inc.
Geriatric population is more prone to hip fractures due to falls, thereby boost the trauma fixation devices market expansion. Additionally, increasing prevalence of degenerative bone disorders such as osteoporosis and arthritis with increasing age will further foster the market progression during the forecast timeframe. However, side effects such as rash and allergic reactions associated with trauma care procedures are hindering the acceptance rate of market. Also, the lack of skilled professionals to operate complex devices will hamper the market value.
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Internal fixators segment captured USD 4 billion in 2020 owing to a rise in demand for such products attributed to its extensive features such as flexibility, cost-effectiveness, durability, stability and better bone fixation quality. These fixators provide the necessary support to the bone and results in rapid recovery from the medical condition. In addition, internal fixators enhance the bone healing process.
Stainless steel segment dominated more than 50% of the trauma fixation devices market share in 2020. Stainless steel is known for its high strength and good ductility. Thus, stainless steel is commonly used in fracture fixation devices and/or temporary implants. Moreover, patients and healthcare practitioners in developing countries largely prefer usage of stainless-steel credited to its cost-effectiveness, biocompatibility, and tensile properties, thus, contributing to the segment growth. Furthermore, stainless steel has superior or equal biochemical properties as compared to titanium metal. Stainless steel is significantly stiffer than bone thus, durable enough to allow the healing, thereby fueling its usage.
Upper extremities segment in the trauma fixation devices market is projected to witness 5.3% growth rate through 2027 led by the increase in incidence of sports-related injuries and orthopedic diseases among the population. A rise in number of baby boomers that are prone to injuries and bone diseases will drive the segment expansion in the coming years.
Many surgery patients are turning to ambulatory surgery centers for routine and minor procedures that does not require an overnight stay. Ambulatory surgery centers are cost effective and more convenient in nature than having surgery in hospital operating room. Additionally, these centers provide freedom in scheduling, opportunity to recover at home and financial savings to the patients, thereby stimulating the segment progression. Furthermore, growing incidence of road accidents will further augment the industry growth.
Asia Pacific trauma fixation devices market is poised to expand at more than 7.1% CAGR till 2027 owing to the increasing bone degenerative diseases among the population. Growing awareness among the population about various internal trauma fixation devices and rise in healthcare expenditure will further influence the industry expansion. Additionally, an increasing demand for minimally invasive procedures among the population will further accelerate the industry progression.
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A few notable companies operating in the market are Acumed LLC, Depuy Synthes (Johnson & Johnson), Integra LifeSciences, Smith & Nephew, Stryker Corporation, Zimmer Biomet Holdings Inc, Conmed Corporation, Bioretec Ltd., and B. Braun Melsungen AG. Industry players are focusing on various strategies such as acquisitions, business expansion, and novel product or service launches to consolidate their market presence.
Table of Contents (ToC) of the report:
Chapter 3 Trauma Fixation Devices Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By material
3.4.3 By site
3.4.4 By end-use
3.5 Regulatory landscape
3.6 Porter's analysis
3.7 Competitive landscape, 2020
3.7.1 Company market share analysis, 2020
3.8 PESTEL analysis
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