Trauma Fixation Devices Market Key Trends and Forecast Research Report 2019
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The trauma fixation devices can be categorized in two segments namely external trauma fixation devices and internal trauma fixation devices. External trauma fixation devices are used for temporary fracture fixation and help in providing support to the affected bone while their healing process. Since these fixation devices are applied externally, can be adjusted as per the individual requirements of the patient. Owing to the underdevelopment of the bones, this procedure is preferred in pediatric trauma cases. In addition, they are also applied on those patients whose skin over fracture has been damaged.
Internal fixation devices are helpful in fixing fractured bones in definite shape by implanting different devices. These devices includes various intramedullary nails, cannulated screws, hip screws, wires, cables, conventional hip screws, pins and plates. The materials utilized to build these devices are majorly made of stainless steel, cobalt and titanium. Internal fixation devices are gaining popularity over the external fixation devices, hence the demand for internal fixation devices are increasing. This is due to the fact that the raw materials utilized in manufacturing internal fixation devices are durable, stable and flexible which provide necessary support to the bone and results in quick recovery from the medical condition. In addition, it also reduces stay in hospitals and improper bone healing. All these mentioned parameters result in high growth rate of internal fixation devices during the forecast period 2013 to 2019.
Rise in geriatric population across the globe will augment the growth of trauma fixation devices since elderly people possess higher risk for osteoporosis that will propel the demand for utilization of trauma fixation devices. It has been estimated by the World Health Organization (WHO) that global elderly population was around 524 million in 2010 and is expected to grow to reach around 2,000 million by 2050. Increasing number of accidents throughout the world will further boost the growth of trauma fixation devices market. Recently, the U.S. reported around 42 million trauma cases. These trauma patients required immediate medical treatment (trauma fixation devices implantation) to recover from trauma.
Increased disposable income and awareness in developed nations such as U.S. and U.K. have also contributed in the growth of trauma fixation devices market, since high disposable income increases the affordability for availing these medical services. Despite various advantages, growth of trauma fixation devices market may get hindered owing to infection and allergy associated with the utilization of external and internal trauma fixation devices. Similarly, high cost of these devices will also reduce the utilization of these devices and in turn will restrain the growth of trauma fixation devices market in developing nations (with low disposable income) such as India, China and Brazil.
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North America followed by Europe accounts for the largest share of total trauma fixation devices market owing to large patient population coupled with high disposable income of the population in the regions. Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to increasing healthcare expenditure in the nations such as India and China. High growth rate of geriatric population in the region will further support the growth of trauma fixation devices market. It has been estimated by WHO that around 12% of total Chinese population and 300 million of Indians will belong to elderly population by 2050. The major players operating in trauma fixation devices market include Bioretec, Inc., Medtronic, Inc., Advanced Orthopaedic Solutions and Integra LifeSciences Corporation amongst other significant players.
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