Orthopedic Trauma Devices Market is expected to grow at a CAGR of 6.80% by 2030

Pune, India, 09 February, 2023 /MRFR Press Release/- Market research future published a half-cooked research report on global orthopedic trauma devices market.

Market Analysis

The global orthopedic trauma devices market size is expected to reach USD 9.4 billion by 2030 at 6.80% CAGR during the forecast period 2022-2030. Orthopedic trauma is a type of condition which includes injuries that chiefly affects the skeletal system and thereby limits the affected person’s smooth mobility and takes a toll on the quality of life. This comprises of conditions right from life threatening injuries to simple fracture resulting from accidents or any other fatal incidence. In fact, orthopedic trauma includes several broken bones in different parts of the human body such as brain, shoulder (scapula and clavicle), feet (phalanges, metatarsals and tarsals), leg (fibula, tibia and femur) and hand (ulna, radius and humerus) which involves extensive reconstructive surgeries. The orthopedic trauma devices play a pivotal role in treating such injuries. Some of these devices include external fixator devices, special implants, nail system, plate system and screws. These devices are mostly made of stainless steel and titanium and are indeed effective to restore joint movement and mobility of those suffering from various orthopedic conditions such as abnormal bone growth, fractures and deformities. Overall, these devices will work wonders in improving people’s quality of life.

There are a couple of factors that is driving the growth of the orthopedic trauma devices market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include increasing number of bone injuries owing to increasing accidents, increasing demand for advanced facilities in the orthopedic trauma and surgery centers, growing participation of people especially in sports as well as related activities and prevalence of osteoarthritis and rheumatoid arthritis. On the flip side, there are some factors that can obstruct the growth of the orthopedic trauma devices market such as increasing price of techniques owing to technological advancement, lack of awareness, less accessibility of specialized professionals, absence of health insurance and double surgeries.Market Segmentation

Market Research Future report provides a comprehensive segmental analysis of the orthopedic trauma devices market on the basis of material type, product type and end-users.

Based on material type, it is segmented into non-absorbable materials, bioabsorbable materials and others. Of these, the bioabsorbable materials will have a major market share owing to consistent product enhancement and development.

Based on product type, the orthopedic trauma devices market is segmented into patient specific implants, plates and screws. Of these, the screws segment is predicted to have maximum market share owing to favorable reimbursement policies along with its extensive array of applications in orthopedic surgeries. Screws are highly favored for its wonderful benefits such as do not require implant removal, reduced frequency of graft laceration and non-interference with MRI.

Based on end-users, it is segmented into clinics, rehabilitation centers, hospitals and others.

Explore In-depth Details: Orthopedic Trauma Devices Market Research Report

Regional Analysis

Based on region, the orthopedic trauma devices market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will dominate the market due to the rising incidences of injuries here. The other driving factors include growing healthcare expenditure and increasing use of medical implants that are technologically advanced. Europe will grab the second position in the market owing to rising health burden related to injury. In the APAC region, the orthopedic trauma devices market is expected to witness a favorable growth due to the rising number of senior citizens, urbanization, increasing awareness of medical devices that are technologically advanced and rapidly changing technology. On the other hand, the Middle East and Africa will hold a minimal market share owing to poor economies and stringent government policies.

Competitive Analysis

The global orthopedic trauma devices market is extremely fragmented. The key players in this market have used different strategies such as mergers and acquisitions, partnerships, joint ventures, agreements, expansions, product launches and others for increasing their footprints within the market.

Key Players

Leading players profiled in the orthopedic trauma devices market include Integra LifeSciences Corporation, Zimmer Holding Inc, B. Braun Melsungen AG, MEDTRONIC, Smith & Nephew, Johnson & Johnson Services, Inc. (US), Stryker, Auxein Medical (India), Ortho Max Manufacturing Company Pvt. Ltd., DePuy Synthes Companies and Invibio (UK), BIOTEK (India).

Jan 2019- Generex Biotechnology, an integrated healthcare company has recently signed a LOI (letter of intent) to acquire from Pantheon Medical- Foot and Ankle some surgical devices. Pantheon Medical manufactures orthopedic surgery tools and products. This acquisition will help to improve Generex Biotechnology’s commercial product portfolio in the surgical domain.