Overview of Global Market Study on Orthopedic Trauma Devices
The global orthopedic trauma devices market is expected to grow at substantial rate in the coming years. The significant growth in this sector is due to the increasing number of fracture cases and the subsequent demand for better facilities to treat the same. An orthopedic trauma is essentially an injury caused to the musculoskeletal system, inclusive of joints and bones. These injuries are require orthopedic trauma surgeries, which includes several types of fixation devices to treat external and internal fractures. The internal fixators include Intramedullary Nails (IM Nails), screw system, and IM Screws and plate. IM Nail is used to treat broken and fractured bones, and is commonly used to treat injuries to tibia and femoral shaft. The plate and screw system is used for fixing and stabilizing long bone fractures. Some of the commonly used plates and screw systems are T-plates, straight plates, buttress plates, tubular plates, Y-plates, H-plates, and cloverleaf plates.
The global orthopedic trauma devices market is being pushed forth by increasing importance on participation in sports and rising number of geriatrics. This market gains its additional impetus from investments made by multinational companies and governments. However, certain factors such as lack of health insurance facilities in the face of high cost of surgeries, absence of awareness about medical facilities, and double surgery are acting as inhibitors for this market.
The report published by Persistence Market Research is further segmented on the basis of fixators, composition, and geography.
Market Segmentation of Global Market for Orthopedic Trauma Devices
The global market for orthopedic trauma devices is segmented depending on the usage of fixators and the market share they hold, their composition, and on the basis geographical market share.
Depending on type of fixators global market for global orthopedic trauma devices market is segmented into internal fixator market and external fixator market. The internal fixator market is further divided into intramedullary nail market, intramedullary screw market, and intramedullary screw market. These devices are also categorized for commercial purpose as metallic fixators and bioabsorbable fixators. To determine the market share held by these devices geographically, these devices are segmented into North America, Europe, Asia Pacific, and Rest of the World.
Market Projections for Orthopedic Trauma Devices Global Market
The global orthopedic trauma devices market was valued at $5.7 billion in 2013, however, it is expected to reach $9.4 billion by 2020, growing at a CAGR of 7.2% from 2014 to 2020. The largest market share holder for these devices is North America. The next region following this trend is Asia Pacific. The countries contributing to this fast-paced growth are India, China, Japan, and other Southeast Asian countries. Some of the Eastern Mediterranean countries are also fueling this growth. Amongst the type of fixators, internal fixator is the largest market share holder in the global market for orthopedic trauma devices, and is expected to grow at a CAGR of 6.8% from 2014 to 2020. Plate and screw system market, which is an integral part of internal fixator market, is expected to grow at a CAGR of 7.1% from 2014 to 2020. Bioabsorbable fixation devices market is also expected to grow significantly at a CAGR of 8.4% during from 2014 to 2020. The report further analyzes some of the key players in the industry which are impacting the global economy in many ways. It report sketches the competitive landscape with company profiles of DePuy Synthes, which is a Johnson & Johnson company, Zimmer Holding Inc., Smith & Nephew, Stryker Corporation, and Orthofix Holding Inc.
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