PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498742
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498742
Trauma Products Market size was valued at USD 6,215.2 Million in 2023, expanding at a CAGR of 8.80% from 2024 to 2032.
The primary settings for the utilization of trauma products are hospitals, trauma centers, and ambulatory surgery centers. Burns, sprains and strains, dislocations, and fractures are examples of traumatic injuries brought on by an outside force. These tools work well in situations where there are long bones, like fractures. Additionally, the upper and lower extremities-including the knee, leg, spine, and other joints-are covered by the trauma products.
Trauma Products Market- Market Dynamics
increasing frequency of catastrophic injuries and a number of recent technological developments to Propel Market Growth
More people are suffering from traumatic injuries globally as a result of the market's growing need for trauma products. The World Health Organization (WHO) estimates that traumatic injuries, such as those from falling, poisoning, drowning, burns, assaults, self-inflicted harm, or acts of war, kill about 5 million people year worldwide. About 30% of individuals 65 years of age or older fall each year, while about 40% of individuals 75 years of age or older fall. Forty to sixty percent of falls result in injuries, ten percent cause significant injuries, and five percent break. To improve the identification of brain injury, the market is seeing technical progress in diagnostic trauma products. For instance, Medicortex is now working on a quick diagnostic test that can use saliva or urine to identify mild traumatic brain injury and concussions. The quick diagnostic tool is predicated on the particular biomarkers identified from bodily fluids after brain damage. The quick diagnostic kit would be beneficial in enhancing the identification of brain injury, particularly in mild cases that are hazardous and challenging to diagnose using current methods. It is being developed to identify mild traumatic brain injury utilizing biomarkers based on glycans.
Trauma Products Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.80% over the forecast period (2024-2032)
Based on type segmentation, the internal fixators category was predicted to show maximum market share in the year 2023
Based on surgical site segmentation, the upper extremity category was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Trauma Products Market is segmented on the basis of Type, Surgical Site, End-user, and Region.
The market is divided into two categories based on type: Internal Fixators (Plates and Screws, Rods and Pins, Others) and External Fixators (Uniplanar and Biplanar Fixators, Circular Fixators, Hybrid Fixators). The Internal Fixators category dominates the market. Due to the internal fixators' many advantages for patients-such as reduced scarring, shortened hospital stays, reduced bruising, and precise functionality-there is outstanding compliance with them. Proximal and distal sitting plates, three options for plate extensions, and section-wise plating preferences are among the 48 plate options available with Acumed's Acu-Loc 2 Wrist Plating process, which is driving the market for trauma products. Brilliant devices for fracture care and plate location are attributed to internal fixators. For patients with severe osteotomies, fusions, and fractures, the purpose of an internal fixator is to restore the natural structure of the bones.
The market is divided into the following categories based on end-users: Hospitals and Ambulatory Surgical Centers. The hospitals category dominates the market and is likely to maintain its dominance during the forecast period due to the rise in the number of private hospitals in developing nations as well as the increased demand for hospital-based care among patients and individuals. Furthermore, trauma hospitals and trauma systems must be accessible to communities. They are assembling everyone and everything that can be used to assist the injured person. Trauma surgeons have vast experience doing invasive, life-or-death procedures. A set of predefined criteria and standards can be used to promptly and effectively red-flag patients who have suffered the most severe injuries.
Trauma Products Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the global market for trauma products because trauma products, along with implants and equipment, have a high rate of acceptability. The number of people suffering from traumatic issues has increased overall due to an increase in traffic accidents and other mishaps. Prominent players in the biotechnology and pharmaceutical industries are promoting awareness about trauma products in the area. For instance, in December 2019, Kaiser Permanente partnered with Discovery Education and the Alliance for a Healthier Generation to integrate trauma-informed products and encourage community-based and mental well-being in numerous American schools.
In addition, the trauma products market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific because of the increased efforts in research and development for trauma products. Many participants are getting ready to release enhanced trauma products. Due to the aging population's increased propensity for severe injuries, notable growth is anticipated in nations like Australia, China, and India. Additionally, the growing number of healthcare facilities, the expansion of the healthcare infrastructure, and government initiatives to offer healthcare policies to the populace are all anticipated to fuel the growth of the trauma products market throughout the research year.
The market for trauma products is extremely competitive due to the existence of numerous local and worldwide marketplaces. Opportunities, revenue growth, and product diversity heighten the market competitiveness. Johnson & Johnson, B. Braun Melsungen AG, Nuvasive, Colfax, Zimmer Biomet Holdings Inc., Stryker Corporation, and Arthrex are a few of the major companies involved in the worldwide trauma product industry. To maintain their position in the market, these major players concentrate on strategies related to product approval, product development, patent filing, market expansion, and technical innovation. Additionally, the businesses are collaborating, merging, forming strategic alliances, and making acquisitions to boost demand for trauma products and broaden their global reach.
December 2023: The clinical-stage biopharmaceutical business Novadip Biosciences SA recently published positive findings from a Phase 1/2 clinical trial assessing the safety and therapeutic effectiveness of its investigational product, NVD-003, in patients with severe lower limb bone non-union (BNU) after trauma. The goal of the experiment is to speed up recovery in a single therapy procedure for major bone abnormalities and injuries.
April 2021: Leading medical equipment producer H&H Medical Corporation was fully acquired by US-based medical technology business Safeguard Medical. The acquisition was made to grow the former's product line.
GLOBAL TRAUMA PRODUCTS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Johnson & Johnson
B. Braun Melsungen Ag
Nuvasive
Colfax
Zimmer Biomet Holdings Inc.
Stryker Corporation
Arthrex
Wright Medical Group N.v
Globus Medical Inc.
Medtronic Plc
Cardinal Health Inc.
Smith & Nephew Plc Inc.
Berkshire Hathaway Inc.
Stryker Corporation
Others