An increasing incidence of fractures, supplemented with other factors such as increasing expenditure on healthcare, and more sports injuries being reported, will take the globalo rthopedic trauma devices market to US$9.4 billion by 2020, says Persistence Market Research in its latest report. The report, titled ‘Global Market Study on Orthopedic Trauma Devices: External Fixator to Witness Highest Growth by 2020’, notes that orthopedic trauma devices made up a US$ 5.7 billion market in 2013. The market will have a CAGR of 7.2% from 2014 through 2020, the report further states.
As clinical outcomes improve, paving the way for more patients to undergo treatments that use orthopedic trauma devices, companies in the global orthopedic trauma devices market will find new opportunities for growth. However, PMR analysts recommend companies to devise strategies to face challenges in the form of a low degree of awareness among patients about the use of orthopedic trauma devices and the absence of adequate health insurance coverage for patients in developing countries. The key trends that PMR analysts identify and elaborate upon in the report are: an increase in the number of mergers and acquisitions and a growing preference for the use of bioabsorbable internal fixators as opposed to conventional metallic fixators.
For the purpose of this study, PMR analysts have segmented the global orthopedic trauma devices market on the basis of type of fixator (internal and external), type of internal fixator (intramedullary nail, plate and screw system, and intramedullary screw), composition (bioabsorbable and metallic), and geography (North America, Europe, Asia Pacific, and Rest of the World).
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