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Trauma Fixation Devices And Equipment Market Demand, Evolving Trends, Future Perspectives, Size, Share And ForecastTo2033
Trauma Fixation Devices And Equipment Market Demand
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According to The Business Research Company's, The trauma fixation devices and equipment market size has grown strongly in recent years. It will grow from $9.07 billion in 2023 to $9.77 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to resulted from increased number of accidents, growth in the number of healthcare facilities, rapid growth in elderly population, economic growth in emerging markets, rapid technological advances and increased healthcare expenditure..
The trauma fixation devices and equipment market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rise in incidences of osteoporosis, rise in sports injuries, increasing incidences of occupational accidents, and improving healthcare facilities will drive market growth. . Major trends in the forecast period include implement of artificial intelligence and robotics technologies, development of holomedicine, biodegradable implants, and 3d printed implants and strategic partnerships between companies..
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Market Drivers and Trends:
The trauma fixation devices and equipment market are driven by the increasing number of road accidents and sports injuries. According to WHO, approximately 1.35 million people die every year due to road traffic accidents. Also, around 20 to 50 million people suffer non-fatal injuries resulting in a disability. According to the National Safety Council (NSC), exercise and the use of exercise equipment led to the most injuries (526,000). Basketball players reported 500,000 injuries, whereas bicycling sports specialists accounted for 457,000 injuries, and 341,000 injuries were recorded for football players. The rapid rise in road accidents and sports injuries is expected to drive the trauma fixation devices and equipment market during the forecast period.
The undertaking of strategic partnership and collaboration is the recent trend being followed by companies in trauma fixation devices. This is due to the presence of a large number of vendors in the market, to maintain the market share in the competitive market and to enter into new geographies, companies are making strategic partnerships with companies and Research Institutes. For example, in July 2021, Zimmer Biomet, a US-based medical device company announced a partnership with OSSIS for an undisclosed amount. This partnership allows Zimmer Biomet to provide an extensive network of orthopedic surgeons with the option of patient-specific implants which are crafted with a combination of clinical and engineering expertise.
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Major Key Players of the Market:
Trauma Fixation Devices And Equipment Market 2024 Key Insights:
• The trauma fixation devices and equipment market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Road Accidents And Sports Injuries Catalysts For Growth In The Trauma Fixation Devices And Equipment Market
• Strategic Partnerships And Collaborations A Growing Trend In The Trauma Fixation Devices Market For Innovation And Expansion
• North America was the largest region in the trauma fixation devices and equipment market in 2023
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