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Market Outline: Trauma Fixation Devices Market
Trauma is the condition characterized by damage or injury to the biological organ caused by physical harm from an external source. Trauma fixation devices are used in the treatment of internal injuries like fractures, bruises, dislocations and external cuts and burns. Trauma fixation devices are classified into internal fixation devices and external fixation devices. Internal fixation devices are implanted inside the body for stabilization of dislocations and fractures whereas, external fixation devices are used to temporary fix the fractures and provide support to the affected bone in case of severe soft tissue damage, open fractures, and burn injuries.
Market Dynamics: Trauma Fixation Devices Market
Growing geriatric population around the globe, rise in prevalence of osteoporosis and other bone diseases in elderly people, increase in number of accidents and burn injuries, and rise in disposable income are anticipated to fuel the market over the forecast period. Moreover, wider accessibility of trauma fixation devices, favorable reimbursement policies, and increase in healthcare expenditure are anticipated to propel the market. However, high cost of trauma fixation devices, allergies and infections associated with the trauma fixation devices, and availability of alternative products are anticipated to hinder the growth of market over the forecast timeframe.
The market growing at significant rate due to increase in number of accidents around the globe (according to World Health Organization, approximately 1.25 Mn people die every year due to road accidents around the world), rise in number of sports injuries (as per American Orthopaedic Society for Sports Medicine, approximately 3.5 Mn receiving treatment due to sports injuries every year), and innovation of newer trauma fixation devices are anticipated to fuel the market. Moreover, acquisitions and mergers, collaborations and product launchings are the strategies followed by the market players for garnering larger market share in global trauma fixation devices market. For instance, in May 2016, Depuy Synthes acquired BioMedical Enterprices, Inc. for strengthening its trauma fixation devices portfolio. Moreover, in April 2017, NuVasive, Inc. launched Reline trauma spinal fixation portfolio designed to use in the preservation and restoration of patient alignment.
Trauma fixation devices market segmented based on the product type, surgical type, and end user
Based on the product type, this market segmented into the following:
- Internal Trauma Fixation Devices
- Screws
- Plates
- Nails
- Others
- External Trauma Fixation Devices
- Circular Fixators
- Unilateral and Bilateral Fixators
- Hybrid Fixators
- Others
Based on surgical site, this market segmented into the following:
- Upper Extremities
- Shoulder
- Arms
- Hand and Wrist
- Elbow
- Lower Extremities
- Lower Leg
- Thigh
- Knee
- Foot and Ankle
- Hip and Pelvic
Based on the end user, this market segmented into the following:
- Hospitals
- Clinics
- Trauma Care Centers
- Ambulatory Surgical Centers
Regional Analysis: Global Trauma Fixation Devices Market
Geographically, the market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is projected to grow at notable rate due to increase in the prevalence of osteoporosis and favorable reimbursement policies. Europe has a lucrative growth, which is attributed to availability of better healthcare facilities, high disposable income, and increase in the road accidents in the region. Asia Pacific is driven by increase in geriatric population in India, China, and Japan (according to WHO, approximately 300 Mn Indian people and 12% of Chinese population belong to elderly people by 2050), and increase in healthcare expenditure are fuel the market.
Competitor Analysis
- Johnson and Johnson Services Inc. (U.S.)
- Smith & Nephew PLC (U.K.)
- Stryker Corporation (U.S.)
- Medtronic plc (Ireland)
- Zimmer Biomet Holding Inc. (U.S.)
- B. Braun Melsungen AG (Germany)
- Wright Medical Group N.V. (U.S.)
- Integra LifeSciences Corporation (U.S.)
- Conmed Corporation (U.S.)
- Cardinal Health (U.S.)
Notable Market Developments:
- In October 2017, DePuy Synthes launched Maxiframe, a 3D simulation assisted orthopedic external circular fixation device for the patients with limb deformity
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015 to 2019) and forecast (2020 to 2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
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