Rise in incidence of orthopedic diseases, surge in number of road accidents & injuries, and improved healthcare facilities in developing nations drive the growth of the global internal trauma fixation device market. However, shortage of skilled workers and high initial costs regarding implants restrain the market growth. On the other hand, unlocked potential from developing countries create new opportunities in the next few years.
The global internal trauma fixation device market size was valued at $8,800.00 million in 2019, and is projected to reach $12,727.54 million by 2027, growing at a CAGR of 4.9% from 2020 to 2027.
The hospitals segment to maintain its dominant share during the forecast period
Based on end user, the hospitals segment contributed to the highest share in 2019, accounting for nearly half of the global internal trauma fixation device market, and is projected to maintain its dominant share during the forecast period. This is due to improved healthcare settings across emerging countries and overall rise in number of hospitalizations with increase in number of road accidents and other sports injuries. However, the orthopedic surgical centers segment is projected to manifest at the highest CAGR of 5.6% from 2020 to 2027, owing to increase in investments by the governments of various countries to open up new orthopedic surgical centers to offer better medical facilities.
Internal trauma fixation devices are different type of devices those are used for treating and preventing disorders related to various trauma. The main purpose of these implants and devices is to restore and maintain normal alignment of an individual’s spine. These devices have evolved much over the past few decades, due to its larger usage and prevalence rates of trauma cases. There has been significant advancement in the material science for the orthopedic applications, which propels the adoption rate of the internal trauma fixation devices owing to various advantages such as higher compatibility, higher restorative capabilities, and cheaper alternatives.
Leading market players
- B. Braun Melsungen AG
- Globus Medical Inc.
- Johnson & Johnson Company (DePuy Synthes)
- Medartis Holding AG
- Orthopaedic Implant Company
- Osteomed
- Smith & Nephew plc.
- Stryker Corporation
- Wright Medical Inc.
- Zimmer Biomet, Inc.
demand for self-monitoring blood glucose devices is on the rise, owing to increase in geriatric population and rise in orthopedic diseases associated with aging. Furthermore, improving healthcare facilities in emerging countries is another factor that fuels growth of the market.
Ravi Telugunta
Lead Analyst, Healthcare at Allied Market Research
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