In a recently published report, Trauma Devices Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Trauma Devices Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Trauma Devices Market is valued approximately USD 7.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.3% over the forecast period 2020-2026. Trauma devices are one of the parts of clinical procedures which is used for the treatment of trauma reliant on the severity of injury. According to the Centre for Disease Control and Prevention, trauma is characterized as a wound or injury to a living body affected by the application of external force or violence. To cure this disorder, trauma devices are used especially in long bones for cases, such as fractures. The other applications of the trauma devices include upper extremities and lower extremities such as knee, joint, leg, spine, and others. Increasing incidence rate of osteoporosis, rising cases of road accidents and fatalities, and technological developments such as use of orthobiologic products and biodegradable materials are the few factors responsible for high CAGR of the market over the forecast period.
According to Switzerland based, International Osteoporosis Foundation report 2017, osteoporosis causes more than 8.9 million fractures annually. Globally, 1 in 3 women by the age 50 and 1 in 5 men by the age of 50 is expected to experience osteoporotic fractures in their lifetime. Also, more than 1.6 million hip fractures occur worldwide every year and it is expected to grow more than 4.5 million by 2050. This, in turn, is expected to accelerate the demand for trauma devices for tracking drugs to avoid product recalls, thus contributing to the growth of the global market. Further, the widespread of COVID-19 across the globe, several manufactures of trauma devices are finding it challenging to source important raw materials and electronic components. Thus, it is adversely influencing the profitability of manufacturers and put upward pressure on them concerning the prices of devices in the short term, thereby limiting the market growth in the upcoming years. However, side effects associated with international fixation devices is another factor expected to hamper the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Trauma Devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing rate of accidental injuries, along with the presence of significant number of trauma centers established by governments in handling emergency situations in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to increasing rate of road fatalities and growing elderly population in the countries like China and India.
Major market player included in this report are:
Smith & Nephew
Wright Medical Group N.V.
Advanced Orthopaedic Solutions
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Surgical Site:
Ambulatory Surgical Centers
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Trauma Devices Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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