Internal Trauma Fixation Devices Market Expected To Remain Dominant during the Forecast Period Due To Supportive Reimbursement Policies in Healthcare System, Higher Number of Accident Cases, And Easy Accessibility to Advanced Devices
Internal fixtures are used to stabilize fractures using devices such as plates and screws, wires, clips and pins, rods and nails and cables. Increased road trauma and sports injuries and technological advances in internal trauma anchors are key drivers for the growth of global internal trauma anchors. Some of the key factors, such as increased health spending and improved clinical outcomes, drive market growth. However, complications and allergies associated with trauma anchors are expected to hamper market growth.
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The key players profiled in this report include
• Stryker Corporation
• DePuy Synthes (a subsidiary of Johnson & Johnson Company)
• Zimmer Holdings Inc.
• Smith & Nephew plc
• Zimmer Biomet Inc.
• Wright Medical Inc
• Globus Medical Inc
• B. Braun Melsungen AG
• Orthopaedic Implant Company
The global market for traction fixtures based on products is divided into closure devices and bone cements. The closure market is currently dominating the market and is expected to continue its trend for the forecast period. Closure devices are classified as plates and screws, wires, clips and pins, rods and nails, and cables. The Plates & screws segment dominates the closing device segment for the forecast period.
On the basis of materials, the market is classified as stainless steel, nitinol, titanium, tritium and polyether ether ketone (PEEK). The stainless steel sector now dominates the global market and is expected to be dominant over the forecast period due to physical properties such as biocompatibility, easy availability, corrosion protection and cost effectiveness. The demand for knit knol is expected to increase during the forecast period because it is easily adjustable to bone shape and is corrosion resistant.
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The global market for end-user based trauma fixators is classified as hospitals, orthopedic centers, trauma centers and outpatient centers. The hospital sector is now dominated by the global market and is estimated to grow during the forecast period. On the other hand, the Orthopedic Surgery Center is expected to show the fastest growth in the market during the forecast period due to the increase in orthopedic surgery centers and the acquisition of skilled professionals.
Key Findings of the Internal Trauma Fixation Devices Market:
• Based on product, the closure device segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 6.7% from 2018 to 2025.
• Based on material, the nitinol segment exhibits fastest growth and is expected to grow at a CAGR of 7.0% from 2018 to 2025.
• Based on end user, the hospital & clinic segment held approximately half of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
• Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.3% during the forecast period.
North America accounted for approximately one-half of the global market share in 2017 and is expected to remain dominant throughout the forecast period. This is attributed to the rise in demand for internal trauma fixation devices, increase in number of surgeries, higher number of trained medical professionals, increase in road accidents, and rise in geriatric population. While Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to rise in number of surgeries and increase in adoption of internal trauma fixation devices.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
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