High-energy Fractures Devices (Spinal Trauma) Market: Propelled by Rising Prevalence of Spinal Injuries

Transparency Market Research (TMR) has recently published a research study on the global spinal trauma devices market, estimating the market to rise at a CAGR of 5.60% during the period from 2015 to 2023 and reach a market value of US$4.7 bn by the end of the forecast period.The research report, titled “Spinal Trauma Devices Market: Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 - 2023”, states that the worldwide market for spinal trauma devices stood at US$2.9 bn in 2014.

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According to the report, the increasing prevalence of spinal injuries, together with growing healthcare expenditure, is driving the demand for spinal trauma devices extensively in the global arena.The report analyzes the global spinal trauma devices market on the basis of the types of devices and the regional distribution of this market. Based on devices, the market is divided into the external fixation devices segment and the internal fixation devices segment.

The internal fixation devices segment leads the global market at present. It held a 60.5% share in the global market in 2014. Plates and screws, rods and pins, and bone grafts are the major products of the internal fixation devices market. Among these, the plates and screws segment has occupied the leading position, states the market study.Analysts also expect the market for bone grafts to witness a healthy growth over the forecast period. The low rate of immunological rejection from bone graft and the minimal pain experienced while grafting are likely to drive the market growth significantly.

The global spinal trauma devices market has been spread across North America, Latin America, Europe, Asia Pacific, and the Rest of the World, notes the market study. North America emerged as the market leader in 2014 with a share of 47.2% in the overall market. The rising prevalence of spinal deformities, together with a soaring frequency of spinal injuries, has triggered the demand for spinal trauma devices in North America. The technical advancement in this field is projected to stimulate this regional market during the forecast period.

Asia Pacific, on the other hand, is presenting lucrative opportunities for market participants owing to the increase in disposable income as well as the rise in awareness regarding healthcare among consumers in this region. The market is projected to exhibit a CAGR of 7.10% over the forecast period, registering the highest growth rate among all the regional markets.

The global spinal trauma devices market is highly consolidated in nature with top three participants acquiring more than 66% of the overall market, states the report. It also present the competitive landscape, prevalent in this market, by analyzing the company profiles of key participants including CONMED Corp., Stryker Corp., Smith & Nephew plc, Medtronic, DePuy Synthes, NuVasive Inc., Spinal Technology Inc., ReWalk Robotics, Arthrex Inc., Orthofix International NV, Zimmer Biomet, B. Braun Melsungen AG, and Globus Medical Inc. Medtronic dominates the worldwide spinal trauma devices market at present on account of its varied product portfolio as well as high market penetration, says the note.

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This release was published on openPR.