Orthopedic Trauma Devices Market
Global Market Study on Orthopedic Trauma Devices: Technological Advancements and New Product Launches to Drive Market Expansion
Orthopedic Trauma Devices Market Segmented By Internal Fixator, External Fixator, Intramedullary Nail, Intramedullary Screw, Plate and Screw System, Metallic Fixators, Bioabsorbable Fixators
Global orthopedic trauma devices market revenue totaled US$ 8.5 Bn in 2020, according to Persistence Market Research analysis. As per sales forecast, the market is expected to reach a valuation of US$ 18 Bn by 2031, expanding at a CAGR of 8% over the next ten years.
Demand for orthopedic trauma devices is expected to accelerate the fastest. Top 5 market players hold around 72% market share, according to this industry analysis.
Find Out More about the Report Coverage
Key Points Covered in Orthopedic Trauma Devices Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Orthopedic Trauma Devices and How to Navigate
- Recommendation on Key Winning Strategies
Customize this Report
Explore Intelligence Tailored to Your Business Goals.
Recent Market Developments Related to Orthopedic Trauma Devices
Rising incidents of road accidents and trauma cases has propelled demand for orthopedic trauma devices across the world. The need for implants and prosthetics is growing by the day, and this is only expected to increase more as time goes by.
Zimmer Biomet, a key manufacturer of orthopedic trauma devices, has partnered with a Swedish medical device firm Bactiguard, which is known for its infection prevention solutions. This joint venture has now launched Zimmer Natural Nail (ZNN) Bactiguard implants, which are now available in select EMEA markets and are expected to be available across regions soon.
This new partnership has paved the way for a long-lasting solution for infection prevention, which has been a major issue in trauma implants. The partnership was especially aimed at providing and developing orthopedic trauma implants that have an improved and long-lasting infection prevention quality.
Orthofix Medical announced the full launch of the Oscar Pro Ultrasonic Arthroplasty Revision System, which is an ultrasonic surgical system, in the U.S. as well as the European market. The product is aimed at reducing challenges involved in revising failed cemented arthroplasties during complex joint surgeries. This new product extends functionalities and removes some constraints involved in complex joint surgeries.
With the launch of such innovative devices, the orthopedic trauma devices market is expected to expand healthily at around 8% CAGR through 2031.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Orthopedic Trauma Devices Market Overview
The global orthopedic trauma devices market estimated to be about US$ 9 Bn by 2021, is projected to grow at a steady rate. Rise in digital orthopedics is estimated to fuel the market growth through the forecast period. 3D printing technology is expected to generate lucrative opportunities in the market by the end of forecast period.
COVID-19 pandemic is estimated to pull down the growth of the market with substantial decrease in admission of patients for orthopedic ailments owing to the restricted movement. With relaxations in lockdown the market is projected to regain its normal pace, North America is expected to stay forefront in the market with huge chunk of the market share.
Western Europe is estimated to surface as a key region in the global market, generating new growth prospects for the market players. Major market players are opting for mergers and acquisitions to enhance their market presence. They are launching new products to stay ahead in the competition.
Established players in the global market include DePuy Synthes., Medtronic, Inc., Smith & Nephew and Stryker, Johnson & Johnson Company, and CONMED, Tornier, Inc.
WHO’s recent report depicts that traumatic injuries are the cause of around 10% of mortality each year. Orthopedic traumas are specifically related to severe damage to the musculoskeletal system of a body, causing loss of function. It involves serious bone or ligament injuries, which require immediate expert assistance from a specialist in orthopedic surgery or trauma.
Orthopedic trauma devices play a key role in the surgical treatment of traumatic orthopedic injuries. Owing to staggering increase in road accidents and severe fracture incidences worldwide, the global orthopedic trauma devices market has been witnessing significant growth since the past few years.
The market is estimated to expand at a healthy CAGR of 8% during the forecast period, 2021-2031. Market value is expected to reach US$ 9 Bn by 2021-end.
Explore Persistence Market Research’s expertise in promulgation of the business !
Key Orthopedic Trauma Devices Market Dynamics
Prevalence of rheumatoid arthritis and osteoarthritis are the most likely to positively impact the demand for orthopedic trauma devices. In addition to a growing number of traumatic orthopedic injury cases, rising demand for advanced facility in orthopedic trauma and surgery centers is a key factor providing a strong impetus to the market for orthopedic trauma devices.
Increased participation of people in sports and related activities is likely to fuel the market growth during the forecast period.
Growing geriatric population is also a major factor expected to push the demand for orthopedic trauma devices. Several governments as well as MNCs are increasingly investing in the orthopedic trauma and surgery industry, which is anticipated to fuel the demand for orthopedic trauma devices.
Relatively lower awareness about the availability of orthopedic trauma devices, coupled with higher costs of these devices, is likely to restrain the market growth, especially in developing nations. Double surgery cases and lack of health insurance of patients may also negatively impact the demand for orthopedic trauma devices over 2021-2031.
Technological advancements are constantly innovating the conventional orthopedic trauma device. Highly specific and flexible trauma fixation devices are currently trending in the global market.
In addition, growing popularity of hybrid plate and screw systems is expected to hold a positive influence on the market growth. Lucrative opportunities lie in developing markets, which have been witnessing higher healthcare investments since the recent past.
Orthopedic Trauma Devices Industry Analysis as per Segments
The global orthopedic trauma devices market is segmented on the basis of type of fixator into internal fixator and external fixator, and on the basis of material into metallic fixators and bio-absorbable fixators.
By fixator type, internal fixator type segment will maintain a dominant market share with a healthy CAGR during the forecast period.
The plate and screw systems sub-segments are likely to continue growing popularity and register a higher CAGR. This growth is attributed to increased adoption rate of hybrid plate and screw systems. The external fixator segment is projected for significant growth by 2031 end.
Based on material, metallic fixators are expected to continue witnessing higher revenues, as bio-absorbable fixators are relatively new and currently witness a nascent market.
By Type of Fixator
- Internal Fixator
- Intramedullary Nail
- Intramedullary Screw
- Plate and Screw System
- External Fixator
- Metallic Fixators
- Bioabsorbable Fixators
- North America
- Rest of the World
Regional Outlook of Orthopedic Trauma Devices Market
On the basis of region, the global market for orthopedic trauma devices is segmented into North America, Europe, Asia Pacific, and rest of the world. In terms of volume and value, North America is estimated to be remain the dominant market over 2021-2031. This growth is attributed to increased accident rate and availability of sophisticated reimbursement framework.
The U.S. is a key market that will attract the maximum revenues through the highest consumption rate. Owing to a number of third party payers, such as governments, local dealers, and private health insurers, the market in the U.S. and Canada is expected to observe a steady growth rate.
Following higher penetration of orthopedic trauma devices in developing markets, the market in Asia Pacific is likely to witness the fastest growth throughout the forecast period. The market will especially witness higher growth in China, India, Japan, and some of the countries in the Eastern Mediterranean and Southeast Asia.
Orthopedic Trauma Devices Industry Research on Key Market Players
The most prominent market player is DePuy Synthes, a Johnson & Johnson company. Other notable companies with significant market value shares, include Stryker Corporation, Zimmer Holding Inc., Smith & Nephew, Orthofix International, Biomet, Medtronic, and NuVasive. Consistent innovation and launching of new products will continue to influence the competitive landscape in the global orthopedic trauma devices market.