Research Nester released a report titled “Trauma Fixation Devices and Equipment Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global trauma fixation devices and equipment market in terms of market segmentation by product, end-user and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The trauma fixation devices and equipment market is estimated to record a moderate CAGR during the forecast period, i.e., 2021-2029. The increasing prevalence of orthopedic 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 by 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 growing 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.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market of trauma fixation devices and equipment in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the presence of leading healthcare service providers in the region. Additionally, the rising prevalence of orthopedic diseases, including osteoporosis and rheumatoid arthritis, also contributes to North America’s growth.
Increasing Prevalence of Orthopedic Diseases and Increasing Road Accidents to Drive the Market Growth
As per the National Osteoporosis Foundation, approximately 44 million Americans have low bone density and around 10 million Americans suffer from osteoporosis, thereby increasing regional growth.
Trauma fixation devices are equipment that expedites the bone healing process by restricting the movement of fractured bones, assisting in faster healing, and preventing improper bone recovery. Rising occurrences of road accidents, a high prevalence of degenerative bone diseases, and increasing cases of sports injuries worldwide, especially in developing nations, are slated to drive the trauma fixation devices and equipment market.
This report also provides the existing competitive scenario of some of the key players of the global trauma fixation devices and equipment market which includes company profiling of Medtronic PLC (NYSE: MDT), Smith & Nephew (LON: SN), Stryker Corporation (NYSE: SYK), Zimmer Biomet Holdings Inc. (NYSE: ZBH), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global trauma fixation devices and equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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