The Orthopedic Trauma Devices Market is growing pervasively backed by the increasing investments in the R&D activities. Healthcare segment extensively absorbs orthopedic trauma devices for a range of surgical applications such as implants. Over the last decade, orthopedic trauma devices have evolved, significantly. This, as a result, has increased the uptake of these devices worldwide, escalating the market on the global platform.
Additional factors substantiating market growth include the growing population and urbanization worldwide. Improving economic conditions provide impetus to market growth, enabling access to the quality of life & improved healthcare. Seminal efforts and investments put in the development of innovative devices, by the key market players are fueling the growth of the orthopedic trauma devices market.
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Acknowledging the exponential traction, the market perceives currently, Market Research Future (MRFR) in its recently published analysis asserts that the Global Orthopedic Trauma Devices Market is projected to gain colossal accruals by 2023 registering approximately 8% CAGR during the review period (2018 to 2023). Government initiatives are playing a major role in fostering the growth of the market.
Global Orthopedic Trauma Devices Market – Key Players
Some of the key players in this market are:
- Invibio (UK)
- BIOTEK (India)
- Auxein Medical (India)
- Stryker
- Johnson & Johnson Services, Inc. (US)
- DePuy Synthes Companies
- Ortho Max Manufacturing Company Pvt. Ltd.
- NuVasive, Inc.
- Orthofix Holdings, Inc. (Italy)
- Smith & Nephew
- MEDTRONIC
- B. Braun Melsungen AG
Industry Developments
In June 2018
CoreLink acquired Expanding Orthopedics, a privately held medical device developer. The acquisition provides CoreLink with many benefits including growth in the inter-body product category along with growth in the portfolio of innovative orthopedic technology for advanced spine care. The acquisition will also boost the appeal of CoreLink’s recently launched FLXfit and FLXfit 15 titanium interbody systems.
Global Orthopedic Trauma Devices Market – Segmentation
The Global Orthopedic Trauma Device Market is segmented on the basis of material type, product type and end-users.
The material types in the market are bio-absorbable materials, non-absorbable materials and others. The applications of bio-absorbable implants in orthopedic surgery are primarily mandated from the need to eliminate implant removal operations, thus gaining widespread popularity among orthopedic surgeons. Consistent development and product enhancement have given significant push to the bio-absorbable materials segment in the global market.
The product types in the global market are screws, plates, patient specific implants and others. The market for screws is expected to retain a massive share of the market due to favorable reimbursement policies and its wide array of applications in orthopedic surgeries. Moreover, benefits of orthopedic screws make them highly favorable, such as non-interference with MRI, decreased incidence of graft laceration and do not need implant removal. The end-users in the global market include hospitals, rehabilitation centers, clinics and others.
Global Orthopedic Trauma Devices Market – Regional Analysis
Globally, North America currently occupies the largest market for global Orthopedic Trauma Devices Market and is bound to secure its top position in the global market throughout the forecast period. Soaring use of bio-absorbable plates and screws is mainly fuelling the orthopedic trauma devices market in the region. Also, the region is witnessing robust sales of hybrid plates and screws, which will work in favor of the market growth in coming years. On top of that, intramedullary nails are steadily gaining traction in the majority of orthopedic surgeries owing to their increasing popularity as an ideal orthopedic trauma device for various anatomies, in the region.
Closely following the North America region stands the region of Europe, securing the second position in the global orthopedic trauma devices market. Trending incorporation of robotics technology during orthopedic surgeries is presumed to push the market in the region. The market also thrives on the back of constantly flourishing medical industry with well-established healthcare infrastructure.
According to the report, the Asia Pacific region is projected to be the fastest growing market. On the backdrop of an expanding market in developing nations in the region, flourishing medical tourism will continue to trigger the market for orthopedic trauma devices. Moreover, growing preference for minimally invasive fixation is expected to provide a tremendous thrust to the regional market as well. Growing geriatric population and increasing number of cases of injuries and road accidents also help the market captivate the region to a large extent.
The Middle East and Africa Orthopedic Trauma Devices Market are exhibiting a positive outlook in terms of market expansion. This can be attributed to manufacturers consistently investing in research and development (R&D) activities to develop innovative and efficient devices, to cater to the growing demand. Large number of R&D activities is presumed to ensure enhanced growth opportunities during the forecast period. Moreover, increasing awareness regarding availability of innovative products among patients is pushing the market to higher levels in the region.
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