Orthopedic Trauma Devices Market 2021
Market Research Future (MRFR) studied the global orthopedic trauma devices market 2021 for the review period till 2022. According to MRRF study, the orthopedic trauma devices market is expected to register 8% CAGR during the analysis tenure. By 2022, the market of orthopedic trauma device can earn substantial revenue.
Rise in number of trauma cases associated with road accidents and related causes can fuel the orthopedic trauma device market growth. Increase in geriatric people also contribute to the growth of the worldwide orthopedic trauma devices market owing to the high susceptibility of the group to bone fractures resulting from orthopedic complications. The rising number of people that are interested in some type of sport owing to the increase in awareness about one’s health status, can accelerate injuries that are associated with sport. Thus, can have a knock-on effect on the size of the global market orthopedic trauma device market. In addition, a handful of companies involved in the marketing and development of orthopedic trauma devices are observed to lead to the market and open growth opportunities.
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Major Key Players:
Some of the key players in this market are: Invibio (UK), BIOTEK (India), DePuy Synthes Companies, Ortho Max Manufacturing Company Pvt. Ltd., Auxein Medical (India), Stryker, Johnson & Johnson Services, Inc. (US), Smith & Nephew, MEDTRONIC, B. Braun Melsungen AG and others.
The global orthopedic trauma device market is segmented on the basis of material type, product type and end-users.
The material types in the market are bio-absorbable materials, non-absorbable materials and others. The applications of bio-absorbable implants in orthopedic surgery are primarily mandated from the need to eliminate implant removal operations, thus gaining widespread popularity among orthopedic surgeons. Consistent development and product enhancement have given significant push to the bio-absorbable materials segment in the global market.
The product types in the global market are screws, plates, patient specific implants and others. The market for screws is expected to retain a massive share of the market due to favorable reimbursement policies and its wide array of applications in orthopedic surgeries. Moreover, benefits of orthopedic screws make them highly favorable, such as non-interference with MRI, decreased incidence of graft laceration and do not need implant removal. The end-users in the global market include hospitals, rehabilitation centers, clinics and others.
Globally, North America currently occupies the largest market for global orthopedic trauma devices market Size and is bound to secure its top position in the global market throughout the forecast period. Soaring use of bio-absorbable plates and screws is mainly fuelling the orthopedic trauma devices market in the region. Also, the region is witnessing robust sales of hybrid plates and screws, which will work in favor of the market growth in coming years. On top of that, intramedullary nails are steadily gaining traction in the majority of orthopedic surgeries owing to their increasing popularity as an ideal orthopedic trauma device for various anatomies, in the region.
Closely following the North America region stands the region of Europe, securing the second position in the global orthopedic trauma devices market Share. Trending incorporation of robotics technology during orthopedic surgeries is presumed to push the market in the region. The market also thrives on the back of constantly flourishing medical industry with well-established healthcare infrastructure.
According to the report, the Asia Pacific region is projected to be the fastest growing market. On the backdrop of an expanding market in developing nations in the region, flourishing medical tourism will continue to trigger the market for orthopedic trauma devices. Moreover, growing preference for minimally invasive fixation is expected to provide a tremendous thrust to the regional market as well. Growing geriatric population and increasing number of cases of injuries and road accidents also help the market captivate the region to a large extent.
The Middle East and Africa markets are exhibiting a positive outlook in terms of market expansion. This can be attributed to manufacturers consistently investing in research and development (R&D) activities to develop innovative and efficient devices, to cater to the growing demand. Large number of R&D activities is presumed to ensure enhanced growth opportunities during the forecast period. Moreover, increasing awareness regarding availability of innovative products among patients is pushing the market to higher levels in the region.
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