(PharmaNewsWire.Com, April 17, 2020 ) The trauma products market is expected to reach USD 8.43 Billion by 2022 from USD 5.98 Billion in 2017, at a CAGR of 7.1% during the forecast period.
The growth of the market is attributed to the high prevalence of bone degenerative diseases, increasing incidence of road accidents & falls, and increasing sports injuries. The development of orthobiologics and emerging markets are expected to offer significant growth opportunities for manufacturers in the coming years.
Internal fixators to dominate the market in 2017
Based on type, the trauma products market is segmented into internal fixators [plates, screws, nails, and other internal fixators (pins, wires, and staples)], external fixators (unilateral & bilateral, circular, and hybrid), and other trauma products. In 2017, the internal fixators segment is expected to account for the largest share of the trauma products market. Orthopedic surgeons generally prefer internal fixators as they are used in fractures that cannot be reduced except by operations, unstable fractures, pathological fractures, and multiple fractures. External fixators are used in procedures such as open fractures, infected fractures, closed fractures, burns, and for damaged control orthopedics.
On the basis of end user, hospitals & trauma centers are projected to grow at the highest CAGR
By end user, the trauma products market is segmented into hospitals & trauma centers and ambulatory surgery centers (ASCs). Hospitals & trauma centers are expected to register the highest CAGR during the forecast period. The high incidence of traumatic injuries through motor vehicle accidents or falls have subsequently resulted in an increase in the number of surgeries performed in hospitals and trauma centers which is expected to boost the demand for trauma products.
North America to dominate the market followed by Europe
In 2017, North America is expected to account for the largest share of the market. The high growth of the North American market is attributed to the factors such as the growing number of trauma cases and the subsequent increase in the number of trauma procedures. In 2017, Europe is expected to hold the second largest share of this market. Factors such as increasing healthcare spending and growing number of orthopedic trauma procedures are expected to fuel the market growth in this region.
The trauma products market is highly competitive with the presence of several small and big players. Some of the players in the trauma products market include DePuy Synthes (U.S.), Stryker (U.S.), Zimmer Biomet Holding Inc. (U.S.), Smith & Nephew (U.K.), Accumed LLC (U.S.), Arthrex Inc. (U.S.), B. Braun Melsungen AG (Germany), Cardinal Health (U.S.), Citieffe S.R.L. (Italy), Conmed Corporation (U.S.), Double Medical Inc. (China), Integra LifeSciences Corporation (U.S.), Medtronic plc (Ireland), Orthofix Holdings Inc. (U.S.), and Wright Medical Group N.V. (U.S.).
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