Orthopedic Trauma Devices Market – Developments
In June 2018, CoreLink aquired Expanding Orthopedics, a privately held medical device developer. The acquisition provides CoreLink with many benefits including growth in the inter-body product category along with growth in the portfolio of innovative orthopedic technology for advanced spine care. The acquisition will also boost the appeal of CoreLink’s recently launched FLXfit and FLXfit 15 titanium interbody systems.
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Orthopedic Trauma Devices Market – Overview
The Global Market for Orthopedic Trauma Devices is projected to register CAGR of 8% during the forecast period (2015-2022), as predicted by Market Research Future (MRFR). Increasing number of trauma associated with road accidents and other causes is expected to fuel the market growth. Rising geriatric population also aides the growth of the orthopedic trauma devices market, as people in this age group are highly prone to bone fractures resulting from fall injury and other orthopedic complications.
It has also been observed that an increasing number of people are getting interested in some form of sport, owing to increasing awareness about one’s health. This has resulted in an accelerated number of injuries associated with sport, thus having a knock-on effect on the global market size. Moreover, a handful of companies are involved in the development and marketing of orthopedic trauma devices, thereby leading to the market to evolve with growth opportunity.
But the market is not without its challenges as poor healthcare infrastructure in few developing economies impedes the said market growth. However, looking at the bright side, the industry is discovering new applications in orthopedics on the back of advances in 3D printing. Subsequently, 3D printed implants are trending rapidly across the globe. Also, the market is apprehended to attain massive revenues in coming years due to another market trend, namely reverse shoulder arthroplasty.
Orthopedic Trauma Devices Market – Segmentation
The Global Orthopedic Trauma Device Market is segmented on the basis of material type, product type and end-users.
The material types in the market are bio-absorbable materials, non-absorbable materials and others. The applications of bio-absorbable implants in orthopedic surgery are primarily mandated from the need to eliminate implant removal operations, thus gaining widespread popularity among orthopedic surgeons. Consistent development and product enhancement have given significant push to the bio-absorbable materials segment in the global market.
The product types in the global market are screws, plates, patient specific implants and others. The market for screws is expected to retain a massive share of the market due to favorable reimbursement policies and its wide array of applications in orthopedic surgeries. Moreover, benefits of orthopedic screws make them highly favorable, such as non-interference with MRI, decreased incidence of graft laceration and do not need implant removal. The end-users in the global market include hospitals, rehabilitation centers, clinics and others.
Global Orthopedic Trauma Devices Market – Regional Analysis
Depending on geographic region, orthopedic trauma devices market is segmented into four key regions: North America, Europe, Asia Pacific, and Middle East & Africa. Globally, North America is the largest market for orthopedic trauma devices as they deploy the most advanced healthcare technologies and increasing demand for the reliable and cost effective products. Europe is the second-largest market for clinical trial management system. Asia pacific region is expected to be fastest growing region in orthopedic trauma devices market due to increasing healthcare expenditure.
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