Trauma Fixation Devices and Equipment Market Highlights 2021-2029
The market of trauma fixation devices and equipment is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The increasing prevalence of orthopaedic diseases such as osteoporosis and rheumatoid arthritis, along with the rising geriatric population, are expected to fuel the market's progress. The growth of the market can also be attributed to factors such as increasing road accidents, sports-related injury, and contributing to the market. According to the data collected from International Osteoporosis Foundation, globally, osteoporosis causes more than 8.9 million fractures annually.
The market is segmented on product into external fixators, internal fixators, and others, out of which the external fixator segment is anticipated to grab the most significant share by the end of 2021 on account of the rising incidence of bone-related injuries that needs alignment and support for appropriate fixation and increasing technological advancements in such devices. Moreover, internal fixators are widely used due to their cost-effectiveness and anatomical compatibility, thereby boosting product demand and overall industry growth.
Based on end-user, the hospital segment in the global trauma fixation devices and equipment market is projected to grow with a significant CAGR over the forecast period. The growth of the component can be attributed to the growing incidence of injuries related to sports, a hike in the number of road accidents, and serving a more extensive customer base due to hospitals' expanded presence have augmented segmental growth.
Trauma Fixation Devices and Equipment Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific market is predicted to grow at the highest CAGR over the forecast period due to a rising geriatric population base prone to physical injury and other degenerative orthopaedic diseases, especially in countries like Japan. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to leading healthcare service providers in the region. Additionally, the rising prevalence of orthopaedic diseases, including osteoporosis and rheumatoid arthritis, also contributes to North America's growth. As per the National osteoporosis foundation, approximately 44 million Americans have low bone density, and around 10 million Americans have osteoporosis, thereby increasing regional growth.
The global trauma fixation devices and equipment market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global trauma fixation devices and equipment market includes the following segments:
By Product
- External Fixators
- Internal Fixators
- Others
By Application
- Hospitals
- Ambulatory Surgical Centers
- Others
Growth Drivers
- Growing Burden of Bone Degenerative Diseases
- Increasing Number of Road Accidents
Challenges
- Lack of Trained Professionals
Top Featured Companies Dominating the Market
- Cardinal Health Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Medtronic PLC
- Smith & Nephew
- Stryker Corporation
- Zimmer Biomet Holdings Inc.
- Acumed LLC
- Bioretec Ltd.
- Wright Medical Group N.V.
