Allied Market Research published a report, titled, “Internal Trauma Fixation Devices Market by Product (Closure Device and Bone Cement), Material (Stainless Steel, Nitinol, Titanium, Tritium, and Polyether Ether Ketone), and End User (Hospital, Orthopedic Surgical Centers, Trauma Centers, and Ambulatory Centers): Global Opportunity Analysis and Industry Forecast, 2018 – 2025”. The report states that the global internal trauma fixation devices market was valued at $7,651 million in 2017 and is expected to reach $12,693 million by 2025, registering a CAGR of 6.4% during the forecast period, 2018-2025.
The report also identifies the key market players involved in the global market, such as Stryker Corporation, DePuy Synthes (a subsidiary of Johnson & Johnson Company), Zimmer Holdings, Inc., Smith & Nephew plc, Zimmer Biomet, Inc., Wright Medical Inc, Medartis, Globus Medical Inc, B. Braun Melsungen AG, Orthopaedic Implant Company. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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The report segments the global internal trauma fixation devices market based on product, material, end user, and geography. With reference to product, the market is bifurcated into closure devices and bone cement.The increase in the prevalence of accidents and sports injuries along with the rise in geriatric population drives the growth of the global internal trauma fixation devices market. During the forecast period, technological advancement and increasing healthcare infrastructure are factors that would boost market growth as well. However, complications and allergies associated with such devices are expected to hinder market growth to an extent.
Key Findings of the Internal Trauma Fixation Devices Market:
- Based on product, the closure device segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 6.7% from 2018 to 2025.
- Based on material, the nitinol segment exhibits fastest growth and is expected to grow at a CAGR of 7.0% from 2018 to 2025.
- Based on end user, the hospital & clinic segment held approximately half of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.3% during the forecast period.
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Based on end user, the global internal trauma fixation devices market is classified into hospital, orthopedic surgical centers, trauma centers, and ambulatory centers. The hospital segment accounted for half of the global market share in 2017 and is expected to remain the highest revenue generating segment throughout the forecast period. Whereas, orthopedic surgical centers are anticipated to encounter the fastest growth in the market due to a surge in their number and a rise in the availability of more skilled professionals.
North America accounted for half of the global market share in 2017 and is expected to remain the dominant region during the forecast period owing to the rise in demand for internal trauma fixation devices, increase in number of surgeries, higher number of trained medical professionals, and an increase in road accidents. Asia-Pacific is expected to grow at the highest rate in the forecast period, registering a CAGR of 7.3%, due to the rise in the number of surgeries and increase in adoption of internal trauma fixation devices.
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