Market Research Report
Trauma Fixation Devices - Market Insights, Competitive Landscape and Market Forecast-2026
|Trauma Fixation Devices - Market Insights, Competitive Landscape and Market Forecast-2026|
DelveInsight Business Research LLP
Content info: 100 Pages
Delivery time: 2-10 business days
Trauma Fixation Devices Market By Product Type (Internal Fixators [Plates & Screws, Rods & Pins, And Others] And External Fixators [Unilateral, Circular, Hybrid, And Others]), By Absorbability (Non-Absorbable And Resorbable), By Application Site ( Cranial & Facial, Spine, Upper Extremities [ Hand & Wrist, Arm, Shoulder, And Elbow], And Lower Extremities [Knee, Foot & Ankle, Thigh, Hip & Pelvis], And By End User (Hospitals & Clinics, Ambulatory Surgical Centers, And Others), by geography is expected to grow at a steady CAGR forecast till 2026 owing to the rising geriatric population and increasing number of trauma cases.
Global Trauma Fixation Devices Market was valued at USD 6.61 billion in 2020, growing at a CAGR of 6.41% during the forecast period from 2021 to 2026 to reach USD 10.08 billion by 2026. Factors such as the rising demand for technologically advanced products, increasing geriatric population, rising number of accident and trauma cases, growing prevalence of degenerative bone disorders, and the rising number of sports-related injuries are expected to drive the trauma fixation devices market.
Trauma Fixation Devices Market Dynamics:
One of the major factors driving the trauma fixation devices market is the rising geriatric population across the globe. Improving healthcare facilities and disposable incomes have been key factors in improving the quality of life and life expectancy in general. The elderly population is susceptible to numerous bone-related disorders and degenerative bone diseases. According to the data provided by the United Nations, in 2020, there were about 727 million people over the age of 65 years and above living across the globe. The number of the elderly population is further expected to double reaching over 1.5 billion over the period of three decades. The elderly population is susceptible to develop degenerative bone disorders more frequently than younger population.
As per a study published in the Lancet Journal titled "Global, regional prevalence, incidence and risk factors of knee osteoarthritis in population-based studies" by Cui et al., in 2020, there were around 654.1 million individuals (40 years and older) with knee osteoarthritis worldwide. As per the aforementioned source, the pooled global incidence of knee OA was 203 per 10,000 person-years in individuals aged 20 and over. Additionally, there are around annual 86.7 million individuals (20 years and older) with incident knee OA in 2020 worldwide.
As per the International Osteoporosis Foundation (2021), over 8.9 million fractures related to osteoporosis occur annually. It further stated that about one in five men and one in three women over the age of 50 are susceptible to suffer from a fracture due to weak bones. Osteoporosis is one of the common degenerative bone disease where the body starts to lose bone mass or makes too little bone. The osteoporotic bones become less dense, become weak, and are more prone to fractures.
Furthermore, according to the World Health Organization factsheet (2021) on road traffic injuries, road traffic injuries are the leading cause of fatality in children and young adults in the age group 5-29 years. The same factsheet further stated that near about 20-50 million people suffer from non-fatal injuries in road accidents resulting in a disability as a result of their injury.
As the incidents mentioned above such as road accidents, degenerative bone disorders majorly result in bone fractures and dislocation which can drastically affect the quality of life of patients, devices such as trauma fixation devices are employed in the fixing of bone-related errors and deformities.
Trauma fixation devices are medical devices that are deployed in the correction and fixation of bone fractures and deformities. These devices are used in various orthopedic surgeries helping in fixing bone-related deformities of various anatomical regions such as spine, cranium, and extremities.
However, stringent product approval process and metal sensitivity in patients, and high cost of procedures may prove to be certain restraints to the trauma fixation devices market growth.
Trauma Fixation Devices Market Segment Analysis:
Trauma Fixation Devices market by Product Type (Internal Fixators [Plates & Screws, Rods & Pins, And Others] And External Fixators [Unilateral, Circular, Hybrid, and Others]), by Absorbability (Non-Absorbable And Resorbable), by Application Site (Cranial & Facial, Spine, Upper Extremities [Hand & Wrist, Arm, Shoulder, And Elbow], And Lower Extremities [Knee, Foot & Ankle, Thigh, Hip & Pelvis], by End User (Hospitals & Clinics, Ambulatory Surgical Centers, And Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)
In product segment of the trauma fixation devices market, the internal fixators category is expected to account for the prominent market share during the forecast period. Internal fixators are now commonly used for the correction of bone deformities and fractures due to the advent of sterile surgical procedures which significantly reduced the risk of infection. Additionally, internal fixation allows for faster recovery, shorter hospital stays, enables patients to resume their daily activities quicker, and reduced the chances of improper healing of the broken bones.
Among internal fixators, screws are one of the commonest types of devices used in internal fixation. Even being a simple device, there are different types of screws available depending on the type of fracture and the application of the screws. Screws can be used alone or in combination with other internal fixation devices such as rods, plates, or nails.
Furthermore, the use of stainless steel and titanium in the manufacturing of these fixators have contributed immensely in improving the safety prospects of these devices.
North America is expected to dominate in the Overall Trauma Fixation Devices Market:
Among all the regions, North America is expected to account for the significant market share in the trauma fixation devices market. This can be ascribed to the high prevalence of osteoporosis and other bone diseases, rising population of the elderly, increasing number of sports-related injuries among other factors in the region.
One of the key factors supporting the growth of the trauma fixation devices market in the region is the high prevalence of osteoporosis. As per the data provided by the National Center for Health Statistics, Centers for Disease Control and Prevention, United States, for the study period 2017-2018, the prevalence of low bone mass (a precursor to osteoporosis) in the femoral neck or lumbar spine or both in adults aged 50 years and older is 43.1%, and in women (51.5%) were higher than men (33.5%).
According to the data provided by the Organization for Economic Co-operation and Development, in 2018, there were approximately 2,710,000 cases of road accident-related injuries in the country. The data further provided provisional data for Canada in which reported about 152,847 number of road accident-related cases in the country in 2018.
As per the facts provided by the National Safety Council (NSC), a US-based non-profit organization, in 2019, irrespective of the use of exercise equipment, exercise-related injuries accounted for about 468,000 injuries, the most of any category of sports and recreation. It was followed by bicycling with about 417,000 injuries, while basketball with 404,000 injuries, and football, with 292,000 injuries, ranked third and fourth.
The abovementioned facts point towards the growing need for surgical interventions in order to correct bone-related defects and injuries either due to disease-related etiologies or in trauma cases. All these factors require the usage of trauma fixation devices in bone fixation and correction of bone deformities, thereby contributing in the high demand for trauma fixation devices.
Additionally, in February 2021, OsteoMed received the clearance from the US Food and Drug Administration for ExtremiLOCK Lateral Ankle Fusion Plates, which is intended to be used in the fixation of osteotomies, fractures, and non-unions of the fibula and the tibia. Moreover, the constant focus of market players in targeting the region in product launch is further expected to propel the growth of the North American Trauma Fixation Devices market.
Furthermore, the prompt and well-established healthcare services and infrastructure further contributes to the growth of the regional trauma fixation devices market growth. Moreover, the presence of key players in the region and supportive reimbursement programs further provide immense growth opportunities for trauma fixation devices market.
Trauma Fixation Devices Market Key Players:
Some of the key market players operating in the trauma fixation devices market includes Zimmer Biomet, Orthofix Medical Inc, DePuy Synthes (Johnson & Johnson), B. Braun Melsungen AG., Stryker, Medtronic, Acumed, INION OY, Orthomed., Smith+Nephew, CONMED Corporation, Bioretec Ltd, Arthrex Inc, JEIL MEDICAL CORPORATION, OsteoMed, Medartis AG and others.
Recent Developmental Activities in Trauma Fixation Devices Market:
In July 2021, Endeavor Orthopedics received the 510k approval from the US FDA for their Summit Patella Plating System. This system is indicated in the surgical stabilization of patella fractures during open reduction internal fixation procedures in adults.
In June 2021, Zimmer Biomet launched Bactiguard-coated trauma implants for infection prevention in select Europe and Middle East and Africa markets. In January 2021, these implants received the CE mark.
In July 2020, Orthofix Medical Inc received the US FDA approval and the CE mark for their JuniOrtho Plating System. The JPS JuniOrtho Plating System is a complete plating system designed to address specific requirements of trauma reconstruction and advanced deformity of the lower extremities in pediatric patients.
Key Takeaways from the Trauma Fixation Devices Market Report Study
Market size analysis for current trauma fixation devices market size (2020), and market forecast for 5 years (2021-2026)
The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the trauma fixation devices market.
Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
Key companies dominating the global trauma fixation devices market.
Various opportunities available for the other competitor in the trauma fixation devices market space.
What are the top performing segments in 2020? How these segments will perform in 2026.
Which is the top-performing regions and countries in the current trauma fixation devices market scenario?
Which are the regions and countries where companies should have concentrated on opportunities for trauma fixation devices market growth in the coming future?
Target Audience who can be benefited from this Trauma Fixation Devices Market Report Study
Trauma Fixation Devices products providers
Research organizations and consulting companies
Trauma Fixation Devices-related organization, association, forum, and other alliances
Government and corporate offices
Start-up companies, venture capitalists, and private equity firms
Distributors and Traders dealing in trauma fixation devices
Various End-users who want to know more about the trauma fixation devices market and latest technological developments in the trauma fixation devices market.
Frequently Asked Questions for Trauma Fixation Devices Market:
1.Trauma Fixation Devices Market Report Introduction
2.Trauma Fixation Devices Market Executive Summary