Internal Trauma Fixation Device Market Overview 2027, Current Trends and Growth Drivers Along with Key Industry Players

Rise in incidence of orthopedic diseases, surge in number of road accidents & injuries, and improved healthcare facilities in developing nations drive the growth of the global internal trauma fixation device market. However, shortage of skilled workers and high initial costs regarding implants restrain the market growth. On the other hand, unlocked potential from developing countries create new opportunities in the next few years.

According to the report published by Allied Market Research, the global internal trauma fixation device market size was valued at $8,800.00 million in 2019, and is projected to reach $12,727.54 million by 2027, growing at a CAGR of 4.9% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, "demand for self-monitoring blood glucose devices is on the rise, owing to increase in geriatric population and rise in orthopedic diseases associated with aging. Furthermore, improving healthcare facilities in emerging countries is another factor that fuels growth of the market."

Covid-19 Scenario

Owing to lockdown, manufacturing activities have been halted and supply chain has been disrupted. The issues regarding shortage of raw materials also occurred.

Hospital authorities decided to perform bone implantation and fixation procedures in extreme or emergency cases. However, the procedures that were not urgent have been postponed to avoid cross-contamination. Moreover, the staff has been reallocated for treatment of coronavirus-infected patients.

As governments of many countries imposed lockdown, the cases of road accidents and sports injuries lowered down considerably. So, the demand for fixation devices from hospitals also took a toll.

With governments of different countries relieving lockdown restrictions, the demand for these devices is expected to grow steadily as hospitals began carrying out implantation and fixation services.

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North America to maintain its lead in terms of revenue by 2027

Based on region, North America held the highest market share of the global internal trauma fixation device market in 2019, contributing to more than two-fifths of the total share, and will maintain its lead in terms of revenue by 2027. This is due to favorable reimbursement policies in the healthcare system, rise in number of accident cases, and ease in accessibility to advanced devices in the region. However, Asia-Pacific is estimated to witness the largest CAGR of 5.7% during the forecast period, owing to rise in awareness regarding advanced internal trauma fixation devices, increase in healthcare expenditure, and technological advancements.

Leading market players

B. Braun Melsungen AG
Globus Medical Inc.
Johnson & Johnson Company (DePuy Synthes)
Medartis Holding AG
Orthopaedic Implant Company
Osteomed
Smith & Nephew plc.
Stryker Corporation
Wright Medical Inc.
Zimmer Biomet, Inc.

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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

This release was published on openPR.