Transparency Market Research Report Added “Orthopedic Trauma Fixation Devices Market” to its database.
Overview of the Orthopedic Trauma Fixation Devices Market
Severe injuries induced to the musculoskeletal system of the body are known as orthopedic traumas. These injuries are serious and need immediate attention by an orthopedic trauma specialist or an orthopedic surgeon. As per statistics from the WHO, traffic accidents worldwide bring about nearly 1.24 million deaths a year.
In terms of types, segmentation of orthopedic trauma fixation devices comprises external fixators and internal fixators. The latter category has the biggest market share in the market for orthopedic trauma fixation devices and is predicted to expand at a CAGR of 6.8% from 2014 to 2020. There are primarily three types of internal fixators, namely intramedullary nails, intramedullary screws, and plate and screw systems. Numerous orthopedic trauma fixation device companies are increasing their focus on the internal fixators manufacture with bio- absorbable materials. The market for bio-absorbable fixators is anticipated to expand at an 8.4% CAGR between 2014 and 2020.
Geographical analysis elaborates the market trends based on the four key geographical segments of the global market: North America, Europe, Asia, and Rest of the World (RoW). North America, inclusive of the U.S., has the biggest market for orthopedic trauma fixation devices. Asia is the most swiftly developing orthopedic trauma fixation devices market. A few of the most rapidly growing markets for orthopedic trauma fixation devices are Japan, China and several other countries in the Eastern Mediterranean and Southeast Asia.
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Globally, the orthopedic trauma fixation devices market is witnessing significant growth due to increasing incidence of fractures and lack of substitutes. As a result, this market is expected to grow at a CAGR of about 7.2% during 2014 – 2020.
Some of the key driving factors for the orthopedic trauma fixation devices market are increase in the elderly population, growing healthcare costs, and rising prevention measures for various orthopedic-related problems. Increasing participation in sports and rising number of road accidents are the leading causes for trauma fracture cases. Growing demand for better facilities in orthopedic trauma surgeries, and increasing investments by governments and multinational companies has enabled the growth of the orthopedic trauma fixation devices market. However, the market faces some restraints such as high cost of surgery, lack of awareness, double surgeries, and absence of health insurances in developing countries.
North America, including the U.S. has the largest orthopedic trauma fixation devices market. Asia is the fastest growing orthopedic trauma fixation devices market. Some of the fastest growing markets for orthopedic trauma fixation devices are China, Japan, other countries in South East Asia and the Eastern Mediterranean.
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