PUBLISHER: The Business Research Company | PRODUCT CODE: 1429673
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429673
Trauma fixation devices and equipment play a crucial role in supporting, aligning, stabilizing, and immobilizing fractured bones.
The primary categories within the trauma fixation devices and equipment market include internal fixation devices and external fixation devices. Internal fixation devices are utilized to maintain stability and alignment of fractured bones, involving surgical insertion to ensure optimal positioning during and after the healing process. Product types within this category include metal plates and screws, pins/wires, nails and rods, circular fixators, hybrid fixators, and unilateral fixators. Various end-users, such as hospitals, trauma centers, and ambulatory surgical centers, are involved in utilizing these devices and equipment.
The trauma fixation devices and equipment market research report is one of a series of new reports from The Business Research Company that provides trauma fixation devices and equipment market statistics, including trauma fixation devices and equipment industry global market size, regional shares, competitors with a trauma fixation devices and equipment market share, detailed trauma fixation devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the trauma fixation devices and equipment industry. This trauma fixation devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The trauma fixation devices and equipment market size has grown strongly in recent years. It will grow from $9.07 billion in 2023 to $9.77 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth observed in the historic period can be traced back to factors such as an increased number of accidents, the expansion of healthcare facilities, the rapid growth of the elderly population, economic growth in emerging markets, technological advancements, and the rise in healthcare expenditure.
The trauma fixation devices and equipment market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be linked to factors such as the increase in incidences of osteoporosis, a rise in sports injuries, an uptick in occupational accidents, and the enhancement of healthcare facilities, all contributing to market expansion. Major trends expected in the forecast period include the implementation of artificial intelligence and robotics technologies, the development of holomedicine, the creation of biodegradable implants, the production of 3D printed implants, and the establishment of strategic partnerships between companies.
The growth of the trauma fixation devices and equipment market is fueled by the escalating incidence of road accidents and sports injuries. According to the World Health Organization (WHO), an estimated 1.35 million individuals succumb to fatalities resulting from road traffic accidents annually, with an additional 20 to 50 million people sustaining non-fatal injuries leading to disabilities. The National Safety Council (NSC) reports that exercise and the use of exercise equipment contribute significantly to injuries, with 526,000 incidents recorded. Notably, basketball players, bicycling sports enthusiasts, and football players reported 500,000, 457,000, and 341,000 injuries, respectively. The substantial increase in road accidents and sports-related injuries is anticipated to be a driving force behind the trauma fixation devices and equipment market throughout the forecast period.
The surge in the prevalence of orthopedic diseases is expected to propel the trajectory of the trauma fixation devices and equipment market. Orthopedic diseases, also referred to as musculoskeletal diseases or orthopedic disorders, encompass medical conditions affecting the musculoskeletal system. In the realm of orthopedics, trauma fixation devices and equipment play a vital role in managing various orthopedic diseases and conditions by stabilizing fractures, correcting deformities, and facilitating the healing and recovery processes for patients with orthopedic injuries and diseases. A noteworthy example is the Global Rheumatoid Arthritis (RA) Network's 2021 report, indicating that a staggering 350 million individuals globally are affected by arthritis. Consequently, the escalating prevalence of orthopedic diseases emerges as a significant driver for the trauma fixation devices and equipment market.
A prevailing trend among companies in the trauma fixation devices sector involves actively pursuing strategic partnerships and collaborations. This strategic approach is driven by the market's abundance of vendors, prompting companies to establish alliances to both safeguard their market share in the competitive landscape and expand their presence into new geographical areas. To illustrate, in July 2021, Zimmer Biomet, a US-based medical device company, announced an undisclosed partnership with OSSIS. This collaboration empowers Zimmer Biomet to offer orthopedic surgeons an extensive network and the option of patient-specific implants, combining clinical and engineering expertise.
Leading companies in the trauma fixation devices and equipment market are prioritizing the development of innovative products, such as tendon fixation device systems, to enhance their revenue streams. The Tendon Fixation Device System, for instance, offers surgeons a distinctive design through a tendon thread featuring Citregen, a resorbable technology with unique chemical and mechanical properties tailored for orthopedic surgical applications. An example of this is the September 2021 launch of the Citrelock Tendon Fixation Device System by Stryker, a US-based medical technologies company.
The trauma fixation devices and equipment sector faces challenges arising from stringent regulations, validations, and the protracted approval process imposed by the US Food and Drug Administration (FDA). The US 510(k) regulatory process necessitates manufacturers to demonstrate substantial equivalence to a previously approved device, leading to prolonged approval times. Trauma fixation devices, requiring thorough assessment for safety and efficacy in areas such as materials research and biodegradation, encounter extended timelines. Notably, changes in validation testing have added complexity to the approval and quality control process. In October 2021, MDCG 2021-24 introduced a classification system for medical devices in the European Union, considering the risk associated with devices and the vulnerability of the human body.
Major companies operating in the trauma fixation devices and equipment market report are Johnson & Johnson, Stryker Corporation, Smith & Nephew PLC, Zimmer Biomet Holdings, Medtronic Inc., Arthrex Inc., B. Braun Group, NuVasive, Inc., Integra LifeSciences, Orthofix Medical Inc., DePuy Synthes, Xinrong, Suzhou Sunan Zimmered, Double Medical, Jiangsu Trauhui, Smith & Nephew, Zimmer Biomet, Trauhui, Wright Medical Group, Cardinal Health, Arjo, Medimaps Group, Greenbone Ortho, Medartis AG, MedSilesia, Terumo Medical Canada, IlluminOss, CONMED Corporation, Baumer S.A., Biomecanica Group, Engimplan, GMReis, NEOORTHO, Trauma Solutions S.A.C., Augmedics, Premia Spine, ZygoFix, CarboFix Orthopedic Ltd., Carevature Medical Ltd., ARNICA FAM PARAND, Tibbi Aletler San.Tic.Ltd.Sti., Atamed, EgiFix medical, Behman Psychiatric Hospital, Cairo Scan Radiology Center, Cleopatra Hospital, Saudi German Hospital, Medina Specialised Hospital.
North America was the largest region in the trauma fixation devices and equipment market in 2023. Western Europe was the second largest region in the trauma fixation devices and equipment market report. The regions covered in the trauma fixation devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the trauma fixation devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The trauma fixation devices and equipment market consist of sales of internal fixation devices (plates and screws, intramedullary nails, compression hip screws, and cannulated screws) and external fixation devices (unilateral fixation, circular fixation, and hybrid fixation devices) that are used for trauma fixation. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Trauma Fixation Devices And Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on trauma fixation devices and equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for trauma fixation devices and equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The trauma fixation devices and equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.