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The Global Orthopedic Trauma Devices Market, by Fixator Type (Internal Fixator (Screws, Plates, Nails, and Others) and External Fixator), by Material (Non-absorbable (Titanium, Stainless Steel, and Others) and Bio-absorbable), by End User (Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 4,915 million in 2016 and is expected to exhibit a CAGR of 5.3% over the forecast period (2017-2025).
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The orthopedic trauma devices market is expected to witness significant growth over the forecast period, attributed to rising incidence of fractures due to road accidents, falls, and geriatric population. Furthermore, increasing number of people suffering from osteoarthritis is another factor that is expected to fuel growth of the market. For instance, according to the International Osteoporosis Foundation statistics, by 2040, the number of adults in the U.S., with doctor-diagnosed arthritis is estimated to reach 78.4 million, and around 1.6 million hip fractures occur globally each year. This number is estimated to reach 4.5 million by 2050. Therefore, there is rising demand for plates, screws, nails, and other implants such as staples and bridge for treatment of fractures. Moreover, in emerging economies such as China and India there is high prevalence of falls and road injuries. For instance, according to the World Health Organization factsheet in 2018, 80% of fatal falls, globally are reported from low and middle income countries. For instance, Asia Pacific region has highest incidence of falls compared to other regions, according to World Health Organization’s 2018 factsheet. This is another factor that is expected to augment growth of the market over the forecast period.
New product launches, collaborations, and mergers by key players are expected to drive growth of the orthopedic trauma devices market.
Key players are focusing on launching and gaining regulatory approvals for new and innovative products in screws, plating systems, and other orthopedic trauma devices, in order to cater to rising demand by end users, thereby expanding their market share. For instance, in 2017, DePuy Synthes received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the VIPER and EXPEDIUM Fenestrated Screw Systems. This system offer stabilization and palliative treatment for patients suffering from spinal cord compression, owing to advanced stage tumors. Moreover, in 2015, DePuy Synthes launched two new variable angle plating systems featuring its proprietary variable angle locking technology. Furthermore, DePuy Synthes launched an external circular fixation device, MAXFRAME Multi-Axial Correction System, in 2017, which is used for correcting bone or soft tissue deformities in the arm, leg, foot or ankle. Additionally, in 2016, Zimmer Biomet received 510(k) clearance from the U.S. Food and Drug Administration for its Unite3D Bridge Fixation System. In 2017, Zimmer Biomet showcased its innovative products in trauma segment such as A.L.P.S. Proximal Humerus Plating System, and N-Force Fixation System. Furthermore, in 2015, Smith & Nephew launched its TRIGEN META-TAN (Trochanteric Antegrade Nail) System at the Orthopedic Trauma Association’s (OTA) annual meeting in San Diego, U.S.
Browse 65 Market Data Tables and 40 Figures spread through 180 Pages and in-depth TOC on “Orthopedic Trauma Devices Market- by Fixator Type (Internal Fixator (Screws, Plates, Nails, and Others), External Fixator), by Material (Non-absorbable (Titanium, Stainless Steel Stand, and Others) and Bio-absorbable), By End User (Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2025”
To know the latest trends and insights prevalent in the orthopedic trauma devices market press release, click the link below: https://www.coherentmarketinsights.com/press-release/orthopedic-trauma-devices-market-to-reach-beyond-us-77-billion-by-2025-83
Major players are focusing on collaborative agreements and product launches, in order to expand their presence in the emerging markets. For instance, in 2016, Stryker Corporation entered into collaboration with Indo UK Institute of Health’s (IUIH) Medicity Program, in order to serve as a preferred partner in the orthopedic areas of hip, knee, and trauma products and services in India. Moreover, Smith and Nephew launched Atlas Hip Fracture Nail in emerging markets such as South Africa and India, in 2017, in order to expand its presence in these regions.
Furthermore, key players are focusing on strategic mergers and acquisitions, in order to expand its footprint in the orthopedic trauma devices market. For instance, in 2015, Smith & Nephew plc acquired trauma and orthopedics business of DeOst LLC and DC LLC, which is a manufacturing company in DeOst group based in Russia. DeOst distributed Smith & Nephew’s products in Russia. Moreover, in 2013, Smith & Nephew acquired Adler Mediequip Private Limited, which was a mid-tier trauma business in India, and also expanded its presence in Turkey through buying assets related to the distribution of its orthopedic reconstruction, trauma, and sports medicine products in Turkey. Additionally, in March, 2016 Zimmer Biomet entered into an exclusive global distribution agreement with CelgenTek Innovations Corporation for its N-Force Fixation System and iN3 Cement.
Key Takeaways of the Orthopedic Trauma Devices Market:
- The global orthopedic trauma devices market is expected to exhibit a CAGR of 5.3 % over the forecast period, owing to rising number of injuries from trauma associated incidences and increasing patient population suffering from bone degenerative diseases
- Among fixator types, internal fixator segment, which include sub-segments such as screws, nails, plates, and specialized implants is expected to hold dominant position in the market, owing to increasing demand for these devices in trauma incidence as trauma is often characterized by bone fracture. Moreover, among material, metallic devices segment is expected to account for larger market share, owing to its easy availability and low cost. However, bio-absorbable is slowly gaining traction in the market. Furthermore, among end users, hospital segment is expected to account for major market share, in terms of revenue share, attributed to large number of orthopedic trauma patients admitted in hospitals as compared to ambulatory surgical centers and orthopedic clinics. For instance, according to a study published in journal Injury in 2016, there were 20,659,684 traumatic injury discharges from the U.S. hospitals between 2000 and 2011.
- Among regions, North America is expected hold a dominant position in the market for orthopedic trauma devices, attributed to high incidence of sport related injuries, high probability of fracture in population aged over 50, and rising geriatric population(47.8 million in 2015) in the region.
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Key players operating in orthopedic trauma devices market include DePuy Synthes (a Johnson & Johnson Company) Stryker Corporation, Zimmer Holding Inc., Smith & Nephew plc, and Biomet, Inc. Other prominent players are Braun Melsungen AG, Arthrax, Inc., Medtronic Inc., Integra LifeSciences Corporation, Orthofix International, NuVasive, and Conmed Corporation
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