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Global Trauma Fixation Devices Market Size was valued at USD 8.7 Billion in 2022. The Trauma Fixation Devices market industry is projected to grow from USD 8.9 Billion in 2023 to USD 12.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.35% during the forecast period (2023 - 2032). Road traffic accidents and injuries are increasing, while trauma fixation technology is improving, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Traffic collisions are an important global cause of death. Injury rehabilitation from auto accidents requires the use of trauma fixation devices. According to the Centers for Disease Control and Prevention, 3,700 people worldwide pass away every day in bus, motorcycle, bicycle, truck, or pedestrian accidents. In more than half of those fatalities, there are also motorcyclists, pedestrians, and cyclists. Additionally, because to technologically improved items like bioresorbable implants and nano-coated goods, the demand for trauma fixation devices is rising. In June 2020, Johnson & Johnson's Depuy Synthes division launched Dynacord Suture in a number of European nations. The suture is utilized, among other things, for rotator cuff repairs and soft tissue approximation.
Osteoporosis, Paget's disease, and osteoarthritis are degenerative bone diseases that weaken bones and cause painful, stiff joints. Osteoarthritis is more common in those over the age of 40, and the risk of the ailment rises with age. In the world, 900 million people (12% of the population) were 60 or older; by 2050, that number is expected to rise to 2 billion (22% of the population).
Tumor resections, plate and screw damage, intramedullary nail damage, humeral and femoral nail fractures, hip fractures, and tibia, foot, and ankle fractures are also on the rise. The demand for products like temporary fixation devices, bioabsorbable fixation devices, peek implants, and paek polymers (used in situations of face injuries) is also driving market growth. Thus, driving the Trauma Fixation Devices market revenue.
The global Trauma Fixation Devices market segmentation, based on product includes external fixator devices and internal fixator devices. Based on the product, the market for external fixator devices held the highest share in 2022 as a result of a shift in key industry participants' focus to various closure devices. Circular external fixation is a safe and effective treatment for periprosthetic fractures around the knee in elderly patients, per research published in BMC Musculoskeletal Disorders 2020. The major market players are also offering a wide range of innovative products, which is fostering market expansion.
The global Trauma Fixation Devices market segmentation, based on surgical site, includes upper extremities and lower extremities. The lower extremities held the largest industry share in 2022.
The global Trauma Fixation Devices market segmentation, based on Material, includes metallic implant, hybrid implant, bio absorbable, carbon fibre, and grafts and orthobiologics. In 2022, the Metallic Implant had the biggest market share because to its various benefits, including biocompatibility, superelasticity, fatigue and kink resistance, etc., its use is expanding globally, supporting the development of the internal trauma fixation device market.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The global Trauma Fixation Devices market segmentation, based on End User, includes hospitals, orthopedic surgical centers, clinics, and others. Due to an increase in the number of accidental cases admitted into hospitals, the hospitals segment is anticipated to dominate the market in 2022.
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. Due to its supportive healthcare reimbursement policies, higher accident rates, and convenient access to contemporary technologies, North America Trauma Fixation Devices market held the top spot in the regional category in 2022 (45.80%). The CDC reports that unintentional injuries resulted in 169,936 fatalities in the US in May 2020, as well as 39.5 million doctor visits and 29.4 million visits to emergency rooms. The industry's expansion is also greatly aided by large competitors in the region. Moreover, In the North American area, the U.S. Trauma Fixation Devices market had the biggest market share, while the Canada Trauma Fixation Devices market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The key reasons influencing the future growth of the European trauma fixation market are the rise in prevalence and incidence of bone fractures, a growing older population, and the wide range of solutions provided by industry participants. Due to population aging, hip fractures and other bone conditions like osteoporosis are becoming more common. Additionally, the rise of road accidents increases demand for these devices. Further, In the European region, the German Trauma Fixation Devices market had the biggest market share, and the U.K. Trauma Fixation Devices market had the quickest rate of growth.
Throughout the projection period, the Asia-Pacific Trauma Fixation Devices market is anticipated to grow quickly. Additionally, the market is anticipated to be driven by growing healthcare costs, improving economic conditions, higher consumer awareness of better internal trauma fixation devices, and technological advancements during the course of the forecasted period. Moreover, In the Asia-Pacific region, the Indian Trauma Fixation Devices market had the quickest rate of growth while China's Trauma Fixation Devices market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Trauma Fixation Devices market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Trauma Fixation Devices sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Trauma Fixation Devices industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Trauma Fixation Devices sector. Major players in the Trauma Fixation Devices market, including Thermo Fisher Scientific, Inc., R&D Systems, Abcam plc, Merck KGaA, Proteintech Group, Inc., Janssen-Cilag Pty Ltd., Aviva Systems Biology, Bio-Techne Corporation, Elpiscience BioPharma, Eli Lilly and co., GigaGen Inc., are attempting to increase market demand by investing in research and development operations.
DePuy Synthes Inc (DePuy Synthes), a Johnson & Johnson company, produces medical equipment for orthopedic procedures. In the areas of cranio-maxillofacial, sports medicine, trauma, spine, joint reconstruction, power tools, and biomaterials, the company offers orthopedic treatments and products. The Attune revision knee system, which allows surgeons control over both primary and revision knee operations, is one of its key products. The company provides its products to a range of clients, including medical professionals, hospitals, surgeons, and caregivers. The company distributes products both domestically and internationally. DePuy Synthes' national headquarters are located in Warsaw, Indiana. DePuy Syntheses released a pair of implants for radial head replacement in December 2020. Users of the system who have destabilized radial head fractures are intended.
Stryker Corp (Stryker), a pioneer in medical technology, is a manufacturer of a range of orthopedic, medical, surgical, neurotechnology, and spine apparatus as well as associated services. Orthopedic implants, surgical tools and navigation systems, patient handling equipment, disposable intensive care supplies, and endoscopic and communication systems are among the company's primary products. Additionally, it provides spinal devices, neurosurgical equipment, and medical equipment for use in a variety of illnesses. Stryker sells items to physicians, hospitals, and other medical facilities. The corporation distributes its goods through subsidiaries, branches, independent dealers, and distributors in the Americas, Europe, Asia-Pacific, the Middle East, and Africa. Stryker's corporate office is located in Kalamazoo, Michigan, a city in the US. In September 2020, Stryker Corporation unveiled the T2 ICF Intramedullary Nailing Device, which provides a treatment for patients with serious foot issues like Charcot foot. Patients with diabetes consequently have lower-quality bones.
· Thermo Fisher Scientific, Inc.
· R&D Systems
· Abcam plc
· Merck KGaA
· Proteintech Group, Inc.
· Janssen-Cilag Pty Ltd.
· Aviva Systems Biology
· Bio-Techne Corporation
· Elpiscience BioPharma
· Eli Lilly and co.
· GigaGen Inc.
July 2020: The US Food and Drug Administration and the CE Mark have both given their clearance to Orthofix's 'JuniOrtho plating system'. With the aid of this gadget, the lower extremities of young kids with severe abnormalities and wounds can be restored.
September 2019: Smith + Nephew presented the INTERTAN Product Assurance (IPA) program at the Orthopedic Trauma Association.
October 2017: The Vitality+ and Vital spinal fixation systems were launched by Zimmer Biomet in the United States. The Vitality + Spinal Fixation Systems include Vitality + POWER for swift and accurate pedicle preparation.
· External Fixator Devices
· Internal Fixator Devices
· Upper Extremities
· Lower Extremities
· Metallic Implant
· Hybrid Implant
· Bio Absorbable
· Carbon Fibre
· Grafts and Orthobiologics
· Hospitals
· Orthopedic surgical centers
· Clinics
· Others
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 8.7 Billion |
|
Market Size 2023 |
USD 8.9 Billion |
|
Market Size 2032 |
USD 12.6 Billion |
|
Compound Annual Growth Rate (CAGR) |
4.35% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Product, Surgical Site, Material, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Thermo Fisher Scientific, Inc., R&D Systems, Abcam plc, Merck KGaA, Proteintech Group, Inc., Janssen-Cilag Pty Ltd., Aviva Systems Biology, Bio-Techne Corporation, Elpiscience BioPharma, Eli Lilly and co., GigaGen Inc. |
|
Key Market Opportunities |
Increasing Awareness of Trauma Management |
|
Key Market Dynamics |
Increasing number of road accidents and injuries and growing technological advancements in trauma fixation devices |
The global Trauma Fixation Devices Market was valued at USD 8.7 billion in 2022, and it is estimated to reach USD 12.6 billion by 2032.
The global market is projected to grow at a CAGR of 4.35% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Thermo Fisher Scientific, Inc., R&D Systems, Abcam plc, Merck KGaA, Proteintech Group, Inc., Janssen-Cilag Pty Ltd., Aviva Systems Biology, Bio-Techne Corporation, Elpiscience BioPharma, Eli Lilly and co., GigaGen Inc.
The External Fixator Devices Product dominated the market in 2022.
The Lower Extremities Surgical Site had the largest share in the global market.
Report Code :
RL65142
Published on :
Sep 2023
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