Insights into Trauma Fixation Devices Market and it’s growth outlook
Date: 2020-02-28   Author: Rahul Varpe  Category: #news

Insights into Trauma Fixation Devices Market and it’s growth outlook

Trauma Fixation Devices Market will exceed USD 9.5 billion by 2025; as per a new research report. Increase in the number of road accidents due to urbanization and industrialization is expected to boost trauma fixation devices market during the forecast period. According to the Association for Safe International Road Travel (ASIRT), about 1.3 million individuals die from road accidents each year, and approximately 20-30 million gets disabled or injured. Growing injuries and fractures will spur trauma fixation market.

Surge in the adoption rate of technologically advanced trauma fixation products coupled with growing geriatric population pool is augmenting market growth over the forecast timeframe. Geriatric population is more prone to hip fractures due to falls. Additionally, increasing prevalence of degenerative bone disorders such as osteoporosis and arthritis will further augment trauma fixation devices market growth during the forecast timeframe.

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However, side effects such as rash and allergic reactions associated with trauma care procedures are hindering the adoption rate of trauma fixation devices market. Also, the lack of skilled professionals to operate complex devices will hamper market growth.

Internal fixators held the largest market share, accounting for a total value of USD 4.2 billion in 2018. High growth is due to a rise in demand for such products due to its extensive features such as its flexibility, cost-effectiveness, durability, stability and better bone fixation. These fixators provide the necessary support to the bone and results in rapid recovery from the medical condition. Additionally, internal fixators also reduce stay in hospitals and enhance the bone healing process. Aforementioned factors will further augment segment growth.

Stainless steel segment accounted for the largest market share of 54% in 2018. Stainless steel is one of the most commonly used biomaterials in internal fixation implants because of its superior features such as corrosion resistant and cost-effectiveness in comparison to other biomaterials. Moreover, countries with low income mostly prefer usage of stainless steel due to its cost-effectiveness, biocompatibility, and tensile properties thus, increasing segmental growth.

Upper extremities segment is forecasted to expand at 5.4% CAGR during the projected timeframe. Increase in incidence of sports-related injuries and orthopedic diseases will stimulate upper extremities market over the forecast timeframe. Additionally, a rise in number of baby boomers that are prone to injuries will drive the segmental growth in the coming years.

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Hospital segment accounted for the largest market of 2.6 billion in 2018. Growing number of injuries related to sports and rise in number of road accidents have increased segmental growth. Also, the growing infrastructure to provide improved and advanced technological trauma fixation procedures in these facilities will enhance market growth. Additionally, cost effective treatments provided by various government hospitals in developing countries will drive the segmental growth.

U.S. trauma fixation devices market held a majority of the market share and valued at 4 billion in the year 2018. Rising prevalence of medical conditions such as osteoporosis and other bone diseases will foster market growth in the country. As per the National Osteoporosis Foundation reported in 2014 in the U.S., about 10.2 million individuals suffer from osteoporosis and nearly 43.4 million individuals have low bone mass, thereby increasing the regional growth.

India trauma fixation devices market is forecasted to expand at 7.7% CAGR during the analysis period. The region offers lucrative growth opportunity owing to the increasing geriatric population base. Moreover, growing awareness among the population about various internal trauma fixation devices, rise in healthcare expenditure, and an increase in demand for minimally invasive procedures will further augment market growth.

Industry players having a strong foothold include: Stryker Corporation, Depuy Synthes (Johnson & Johnson), Smith & Nephew, and Zimmer Biomet, Inc. Other notable participants include Conmed Corporation, B. Braun Melsungen AG, Integra Lifesciences and Wright Medical Group N.V. Additionally, novel product launch in developed as well as developing economies by these companies enable them to serve a broader customer base.

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for algosonline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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