The global orthopedic trauma fixation devices market is anticipated to grow significantly over the forecast period. Orthopedic traumas are referred to as severe injuries caused to the body’s musculoskeletal system such as ligaments and bones. Orthopedic traumas are serious injuries and require immediate attention from an orthopedic surgeon or an orthopedic trauma specialist.
According to WHO statistics, globally traffic accidents cause approximately 1.24 million deaths per year. Moreover, the fatal and non-fatal accident rates are on a rise and this will serve the global orthopedic trauma fixation devices market as a high impact rendering driver. Some of the other drivers of this market include. The future of this market will be fuelled by the presence of untapped opportunities in emerging Asian and Latin American regions with high industrialization rates.
The plates and screws sub-segment of the orthopedic trauma fixation devices market is expected to dominate the market throughout the forecast period. The fact that these products are used in most of the orthopedic surgeries and therefore have a high usage rate accounts for its large market share. The plates and screws market is expected to be followed by intramedullary fixation devices and hip fixation devices markets respectively.
North America dominates the overall market in terms of share. The presence of sophisticated reimbursement framework and high accident rates in this region attributes to the aforementioned inference. However, growing market penetration of these devices in emerging Asian countries on account of the presence of high untapped growth opportunities in this region will help the Asia-Pacific orthopedic trauma fixation devices exhibit the highest CAGR during the forecast period.
The global orthopedic trauma fixation devices market is oligopolistic in nature with few market players accounting for over 80% of the market share. Product innovations and mergers and acquisitions are two of the most successful business strategies adopted by the market players to enhance market share and ensure sustainability. For an instance in June, 2012, Johnson and Johnson acquired Synthes Inc. (one of the market leaders) for a price of USD 19.7 billion.
This research study encompasses a competitive landscape of the orthopedic trauma fixation devices market. Revenue analysis, product benchmarking, and strategic developments of key market players such as Stryker Corporation, DePuy, Biomet, Orthofix International, Smith&Nephew, Zimmer Holdings, and others are also provided in this report.
This report, by Grand View Research, takes a closer look at the orthopedic trauma fixation devices industry, providing a holistic perspective on market dynamics, trends, supply, and demand. The report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key product segments including plates and screws, hip fixation devices, IM (intramedullary) fixation devices, external fixation devices, and others. The report also provides the same level of information for key regional markets.
This research report analyzes various factors, which has been driving and inhibiting the global orthopedic trauma fixation devices market in the past. In addition, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for the market forecast. The report also showcases the opportunities available in the market, which may act as future drivers for the market.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.