Market Definition
Trauma fixation devices are devices that are used to stabilize bones and soft tissue in order to allow the body to heal from injuries. These devices can be external or internal, and are typically made from metal or plastic. External devices include casts and splints, while internal devices include screws, plates, and pins.
Market Outlook
The global trauma fixation devices market was valued at USD 6.5 billion in 2021 and it is anticipated to grow up to USD 11.0 billion by 2031, at a CAGR of 5.4% during the forecast period.
Growing incidence of road accidents across the globe will boost the market expansion
Rising incidence of road accidents is estimated to propel the trauma fixation devices market progression. According to the World Health Organization (WHO), approximately 1.25 million fatalities are observed annually due to road traffic accidents and crashes. An additional 20-50 million people suffer from non-fatal injuries, with many incurring physically disabilities. Thus, road traffic accidents are considered as one of the leading causes of death and disability across the globe.
Trauma fixation devices are used for complex surgical procedures. Moreover, handling the latest technologically advanced products requires skilled professionals. However, the lack of trained professionals to operate advanced trauma fixation devices is anticipated to cause hindrance in the industry expansion. Furthermore, the novel trauma fixation devices are associated with complex surgical procedures requiring skilled healthcare professionals to operate, thus hampering the industry progression. With majority of the underdeveloped and developing economies lacking the adequate human and infrastructural resources, it is predicted to hamper the industry demand to certain extent over the coming years.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
Based on the product, the trauma fixation devices industry is bifurcated into external fixators, internal fixators, and others. Of these, the internal trauma fixation devices segment registered significant revenue in 2021. This is owing to the high patient preference towards internal fixators owing to its better procedural outcome. Additionally, internal fixators allow rapid recovery and shorter hospital stays, thereby influencing the market demand. In addition, internal fixators also reduce the chances of improper healing of broken bones, thereby fostering the industry value. Various players are focusing on development of biocompatible devices, thereby leading to the market revenue.
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Major Players
The key players in the market Zimmer Biomet Holdings, Inc., Stryker Corporation, Johnson and Johnson (DePuy Synthes), Wright Medical Group, Inc., Orthofix International N.V., Cardinal Health Inc, Medtronic, Integra LifeSciences, Double Medical Technology Inc., and Citieffe S.R.L, among others.
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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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