As per this new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global trauma devices market is currently valued at US$ 3.2 billion and is predicted to expand at 5.2% CAGR through 2032.
Devices for stabilizing spinal injuries are known as spinal trauma devices. As the compression in the damaged area of the spine is reduced, it makes it easier for patients to walk. This gives the body more time to heal by lowering discomfort and stress on the injured area.
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Rising accident injuries, increased focus on medical equipment research and development, adoption of cutting-edge IT healthcare technologies, increasing the world’s geriatric population, and improvements in healthcare infrastructure, particularly in developing countries, are the main factors driving the growth of the spinal trauma devices market.
Over the projection period, the healthy demand for spinal trauma devices from hospitals and ambulatory surgical centers (ASCs) is anticipated to be driven by the increasing incidence of sports-related injuries and an increase in the number of traffic accidents. The number of multispecialty hospitals that work to provide appropriate treatments for trauma injuries will also rise, particularly in emerging countries, which will raise the sector’s revenue.
Key Takeaways from Market Study
- Global sales of spinal trauma devices are expected to increase at a CAGR of 5% from 2022 to 2032.
- The global market for spinal trauma devices is projected to reach US$ 5.2 billion by 2032.
- China’s market is predicted to expand at a high CAGR of 8.6% during the forecast period.
- Sales of internal fixation devices are likely to increase at a CAGR of 5.5% from 2022 to 2032.
“Primary factors driving spinal trauma device sales are growing cases of traffic accidents, rising incidence of patients suffering from spinal cord injuries, ageing population, and rise in demand for devices that effectively manage spinal cord injuries”, says a Fact.MR analyst.
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Competitive Landscape
Key players in the spinal trauma devices market are B. Braun Melsungen AG, Arthrex, Inc., ConMed Corporation, Globus Medical, Inc., DePuy Synthes, Medtronic PLC, Orthofix International NV, NuVasive, Inc., Rewalk Robotics Ltd., Smith & Nephew PLC, Spinal Technology, Inc., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
As a result of the increased technological discoveries and product improvements, mid-size to smaller businesses are expanding their market share by providing new technologies with higher usability.
- In September 2019, Stryker released a spine journal in which the company discussed the results of Sakos’ pivotal trials or spinejack system. In terms of decreasing ALF (adjacent level fracture) and reconstructing the vertebral body, the trial’s findings demonstrated that the spinejack system is superior to alternative methods.
- Medtronic unveiled the Infinity OCT spinal system in September 2018. The device was developed to ensure effective cervical spinal surgery and is outfitted with biologics and navigation. The efficiency of the neck and upper back fusion processes will be improved with increased usage of the infinite OCT spinal system.
Key Segments in Spinal Trauma Devices Industry Research
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By Product:
- Internal Fixation Devices
- External Fixation Devices
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By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Others
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By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Global Spinal Trauma Devices Market Analysis and Forecast by Region
- North America Spinal Trauma Devices Market Size and Forecast, 2017-2032
- Germany Spinal Trauma Devices Market Size and Forecast, 2017-2032
- UK Spinal Trauma Devices Market Size and Forecast, 2017-2032
- France Spinal Trauma Devices Market Size and Forecast, 2017-2032
- Spain Spinal Trauma Devices Market Size and Forecast, 2017-2032
- Japan Spinal Trauma Devices Market Size and Forecast, 2017-2032
- China Spinal Trauma Devices Market Size and Forecast, 2017-2032
- Malaysia Spinal Trauma Devices Market Size and Forecast, 2017-2032
- Thailand Spinal Trauma Devices Market Size and Forecast, 2017-2032
- Australia Spinal Trauma Devices Market Size and Forecast, 2017-2032
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