Trauma And Extremities Market: Global Industry Analysis 2024
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Factors such as increase in number of accidents, rise in number of sports related injury, change in lifestyle, and growth in number of geriatric population are projected to fuel the trauma and extremities market. According to WHO, 16,000 people die from injuries every day. Technological advancement and government reimbursement policies are other factors driving the trauma and extremities market globally. The WHO plays an important role to meet these challenges, which include promotion of low-cost improvements in injury care; improvement and standardization of injury surveillance systems; and promotion of injury control policy initiatives for violence, traffic, and other major sources of injury such as sports injury. However, restraints such as stringent regulation for product approval, allergy associated with the utilization of external and internal trauma fixation devices, and chances of infection are expected to hinder the trauma and extremities market globally.
The trauma and extremities market has been segmented by product type, injury type, end-user, and geography. In terms of product type, the trauma and extremities market is classified into external fixation device and internal fixation device. External fixation device includes Schanz pin, connecting rod, and clamp. External fixation devices are used for temporary injuries and can be adjusted according to personal requirement. Internal fixation device includes intramedullary nails, conventional hip screws, hip screws, cables, wires, cannulated screws, and pins & plates. The internal fixation devices segment is estimated to grow at a faster rate owing to low product price, better patient outcomes, and increased ability to visualize fracture during surgery in comparison to the external fixation devices. In terms of injury type, the trauma and extremities market is classified into upper extremities, lower extremities, hip fracture and pelvic, shoulder, and foot and ankle. In terms of end-user, the trauma and extremities market is segmented into hospitals, ambulatory surgery centers, specialty clinics, and orthopedic centers.
Geographically, the trauma and extremities market is classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America dominates the trauma and extremities market due to increase in population aging and technological advancement. The North America market is followed by Europe and Asia Pacific. Europe is a significant market for trauma and extremities due to increase in research and development activities and growth in health care awareness among people. Asia Pacific is expected to grow at a higher rate owing to growth in number of population, rise in health care expenditure, and increase in per capita expenditure. These factors are anticipated to fuel the trauma and extremities market. Developing countries such as Brazil, South Africa, and Mexico are projected to create good opportunity for market growth of trauma and extremities devices due to higher accident cases, favorable demographics, and improvement in access to health care. The burden of disability and death from injury is especially notable in low- and middle-income countries. Till date, developing countries account for approximately 90% of injury burden globally.
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Major players operating in this market include Stryker, DePuy Synthes, Smith & Nephew, Wright Medical Technology, Inc., Zimmer Biomet, Integra LifeSciences Corporation, Acumed, Bioretec Ltd., Advanced Orthopedic Solutions, and Cardinal Health.
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