With the increasing geriatric population, the high prevalence of bone degenerative diseases, and increasing incidences of road accidents, the global trauma fixation market is poised to grow in the forecast period of 2018 to 2025 with the CAGR of 6.7%.
According to Data Bridge Market Research new Market report, “By Product Type (Internal Fixator Devices {Plates, Screws, Rod Wires, Pins, Fusion Nails}, External Fixator Devices), By End-User (Hospital, Orthopedic Clinic), By Distribution Channel (Over The Counter, Direct Tenders), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast is projected to reach USD 14.69 billion by 2024, at a CAGR of 6.7% during the forecast period of 2018 to 2025.
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Global Trauma Fixation Market
Trauma is nothing but an injury or a wound to a living body caused by the application of external force or violence. Over the years, trauma fixation market has shown a remarkable growth due to increase in the growth of accidents, injuries in several part of the globe. Trauma device manufacturers are focusing on development of products based on specific anatomical locations. Low-profile plating systems, Polyaxial plating systems are also driving the market because these systems improve screw placement, a particularly important feature when a surgeon is securing small bone fragments near periarticular surfaces For instance, in February 2015, Biomet, Inc launched G7 OsseoTi Porous Acetabular Shell, which is used for clinical use for total hip arthroplasty. This product is used in conjugation with the G7 Acetabular System, which is a platform designed to deliver simplicity, efficiency, and performance for primary and revision hip arthroplasty. The addition of the OsseoTi Porous Technology to the G7 Acetabular System has expanded Biomet’s well-established portfolio of total hip constructs.
Increasing aging population and increasing number of road accidents are driving the growth of the market.
According to the article published by osteoporosis in the European Union by national center for biotechnology information for the year 2010 and beyond, 22 million women and 5.5 million men were estimated to have osteoporosis. 3.5 million new fragility fractures were sustained with 610,000 hip fractures, 520,000 vertebral fractures, 560,000 forearm fractures and 1,800,000 other fractures and the cost associated with this was estimated to around 43 billion USD.
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Global Trauma Fixation Market – Segmentation:
The global market for trauma fixation by the following sub-categories is presented
v By Product Type
- Internal Fixator Devices
- Plates
- Screws
- Rod Wires
- Pins
- Fusion Nails
- External Fixator Devices
v By End-User
- Hospital
- Orthopedic Clinic
v By Distribution Channel
- Over The Counter
- Direct Tenders
v By Geography
- North America
- South America
- Europe
- Asia-Pacific
- Middle East and Africa
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FACTORS DRIVING GROWTH IN THE GLOBAL TRAUMA FIXATION MARKET
Upsurge in the cases of osteoporosis with increase in geriatric population:
According to a report published by the United Nations in 2017, there are an estimated 962 million people aged 60 or over in the world, comprising 13 per cent of the global population. The population aged 60 or above is growing at a rate of about 3.0% per year. The number of older people in the world by 2030 is projected to be 1.4 billion and by 2050 it is projected to reach 2.1 billion, and could rise to 3.1 billion in 2100 globally. The number of persons aged 80 or over is projected to triple by 2050, from 137 million in 2017 to 425 million in 2050. And by 2100 it is projected to reach the mark of 909 million which is 7 times the value of 2017.
In the year 2014, in United States, people who were 65 years and above were estimated to 46,179,004 people and this number is increasing year after year.
As cases of osteoporosis are more prevalent in aged peoples, hence with increase in geriatric population worldwide, this market is expected to achieve a surge in future.
Increasing incidence of road accidents:
According to Statista, in U.S. alone there were some 6.3 million fatal injuries due to road accidents. More than 1.25 million people die each year as a result of road traffic crashes. 1214 road crashes occur every day in India. According to association of safe international road travel, around 20-50 million peoples are injured or disabled in road crashes around the globe. In U.S. alone an additional 2.35 million are injured or disabled due to road crashes. And this number is increasing year after year. As injury to the bone as well as chances of fracture are very high in road crashes, hence with increase in cases of road crashes there are more chances of injury to bone or fracture, hence giving a strong platform to this market in future.
According to statistics available from OECD, there were 5,751,090 accidents in North America in the year 2012.
Some of the major market players in this market are DePuy Synthes, Stryker, Zimmer Biomet, Smith & Nephew, Arthrex, Inc, Medtronic, Johnson & Johnson Services, Inc, Acumed, B. Braun Melsungen AG, Cardinal Health, Citieffe s.r.l, CONMED Corporation, Dabo Medical Technology Co., Ltd, Integra LifeSciences Corporation, Orthofix Holdings, Inc, Wright Medical Group N.V.
Table of Contents:
1. INTRODUCTION
2. MARKET SEGMENTATION
3. MARKET OVERVIEW
4. EXECUTIVE SUMMARY
5. PREMIUM INSIGHTS
6. GLOBAL TRAUMA FIXATION MARKET, BY TYPE
7. GLOBAL TRAUMA FIXATION MARKET, BY DISTRIBUTION CHANNEL
8. GLOBAL TRAUMA FIXATION MARKET, BY END USER
9. GLOBAL TRAUMA FIXATION MARKET, BY GEOGRAPHY
10. GLOBAL TRAUMA FIXATION MARKET: COMPETITIVE LANDSCAPE
11. GLOBALTRAUMA FIXATION MARKET, COMPANY PROFILES
12. APPENDIX
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