The orthopedic trauma devices market is growing pervasively backed by the increasing investments in the R&D activities. Healthcare segment extensively absorbs orthopedic trauma devices for a range of surgical applications such as implants. Over the last decade, orthopedic trauma devices have evolved, significantly. This, as a result, has increased the uptake of these devices worldwide, escalating the market on the global platform.
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Acknowledging the exponential traction, the market perceives currently, Market Research Future (MRFR) in its recently published analysis asserts that the global orthopedic trauma devices market is projected to gain colossal accruals by 2023 registering approximately 8% CAGR during the review period (2018 to 2023). Government initiatives are playing a major role in fostering the growth of the market.
Additional factors substantiating market growth include the growing population and urbanization worldwide. Improving economic conditions provide impetus to market growth, enabling access to the quality of life & improved healthcare. Seminal efforts and investments put in the development of innovative devices, by the key market players are fuelling the growth of the orthopedic trauma devices market.
On the other hand, factors such as the high cost associated with the orthopedic surgeries are likely to impede market growth. Also, the skepticism of physicians towards the advancement & efficacies of these devices affects the market growth negatively. However, the augmenting demand for sophisticated implants by the physicians and patients are expected to contribute, to a great deal, to the growth of the market.
Global Orthopedic Trauma Devices Market – Segmentations
For ease of understanding, the market has been segmented into four key dynamics: –
By Material Type : Bioabsorbable Materials and Non-absorbable Materials among others.
By Product Type : Internal Fixator and External Fixator
By End-user : Hospitals, Clinics, Emergency Departments, and Orthopedic Centers among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Orthopedic Trauma Devices Market – Geographical Analysis
The North American region, heading with the increased adoption of technologically advanced medical implants, dominates the global orthopedic trauma devices market. Factors such as the huge per capita healthcare expenditures and the increasing number of injuries foster the growth in the regional market. Moreover, favorable government regulations and the expanding integration of orthopedic trauma devices are some of the factors that will help the region to retain its dominance, globally, over the forecast period.
At the same time, the increasing prevalence of different orthopedic surgeries, along with the growing number of geriatric populaces boost the growth of the regional market, leading to an increase in the patient population. Furthermore, well-spread awareness among people, towards the availability of these devices and the rising demand for technologically advanced treatments and products enhance the growth of the orthopedic trauma devices market in the region.
The Orthopedic Trauma Devices Market in the European region accounts for the second-largest market, globally. The increasing number of orthopedic surgeries, raising awareness towards healthcare are fuelling the growth of the regional market. Factors such as the rising number of R&D activities in the field of development of orthopedic trauma devices that are primarily led by the increasing government support alongside the availability of innovative treatment are expected to foster the market in the region.
The Asia Pacific orthopedic trauma devices market is rapidly emerging as a profitable market, globally. Factors such as the vast patient population and the burgeoning medical treatment market in the region are supporting the market in the region. Growing orthopedic trauma devices markets in the rapidly emerging countries such as China and India provide a huge impetus to the growth of the regional market. Furthermore, factors such as the increasing awareness and improved quality of life led by the rapidly improving economy in the region play key roles in the growth of the market, creating tremendous opportunities.
Global Orthopedic Trauma Devices Market – Competitive Landscape
Fiercely competitive, the global orthopedic trauma devices market appears to be highly fragmented due to the presence of several well-established, small players as well as new entrants. These players incorporate strategic initiatives such as collaboration, acquisition, expansion, strategic partnership, and technology launch. Substantial investments are transpired in clinical trials and the development of effective devices.
Manufacturers operating in this market strive to develop innovative materials to develop a range of orthopedic trauma devices using the best practices. They investment substantially in manufacturing & expansion programme that can help them to reduce logistics cost and increase production capacities, leveraging potential to fetch larger turnovers.
Major Players:
The fervent players leading the global orthopedic trauma devices market include BIOTEK (India), Invibio (UK), DePuy Synthes Companies, Auxein Medical (India), Ortho Max Manufacturing Company Pvt. Ltd., Stryker, Johnson & Johnson Services, Inc. (US), MEDTRONIC, Smith & Nephew, B. Braun Melsungen AG, Integra LifeSciences Corporation, and Zimmer Holding Inc among others.
Industry/ Innovation /Related News:
March 06, 2019 — OrthoXel (Ireland), a specialist orthopedic trauma device company, realized a new white paper confirming that the use of its Apex Tibial Nailing System micromotion locking option heals the high-risk fractures rapidly. The Apex Tibial Nailing System has United States FDA 510k clearance and is CE marked for Europe.
This clinical white paper highlights four exciting, difficult surgical case reports where conditions were considered as high-risk for compromised fracture. Following the use of the OrthoXel’s Apex Tibial Nailing System utilizing the micromotion locking mode to promote bony callus formation uncomplicated clinical union was successfully achieved.
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