Trauma Fixation Devices Market

Global Trauma Fixation Devices Market Size (2024 to 2029)

As per the report, the global trauma fixation devices market size is predicted to reach USD 9.57 Billion by 2029 from USD 7.07 Billion in 2024, growing at a CAGR of 6.24% forecast period. 

Trauma is an injury or wound to a living body caused by external force or violence. Trauma can be caused by various factors, such as accidents, falls, violence, and natural disasters. The number of people who suffer from trauma each year is growing significantly. According to the World Health Organization (WHO), an estimated 5 million people die yearly from injuries. Many suffer from non-fatal injuries that can have significant physical, emotional, and economic consequences. In the United States, as the Centers for Disease Control and Prevention (CDC), 174 million people, or about 53% of the population, experience at least one traumatic event in their lifetime. Physical injuries such as burns, fractures, sprains, dislocations, and strains are classified under trauma. Various treatments are available to treat trauma based on the injury's severity. Trauma fixation devices are one of the critical treatment methods for medical conditions. These devices provide delay at the fracture site, decrease the gap, and ensure the primary bone healing process by Callus formation. Therefore, it is an essential treatment for bone fracture and tissue degeneration. 

MARKET DRIVERS

The growing geriatric population worldwide promotes the global trauma fixation devices market.

Aged people possess a higher risk for osteoporosis leading to an increased demand for trauma fixation devices. According to the United Nations, an estimated 703 million people were over 65 years old in 2019, which is anticipated to hit USD 1.5 billion by 2050. In addition, factors such as significant growth in the number of road accidents that happen every year and technological advancements are fuelling the market's growth rate. According to the WHO, 1.35 million people die yearly from road accidents. Also, nearly 20 to 50 million people suffer non-fatal injuries resulting in disability. The increasing number of sports-related injuries and the growing number of multispecialty hospitals providing treatment for trauma injuries are expected to support the global trauma fixation devices market. The rising incidence of orthopedic diseases such as osteoporosis and rheumatoid arthritis is forecasted to favor the market growth. In addition, the increase in disposable income and rising awareness regarding trauma fixation devices among countries such as the U.S. and the U.K. will surge the market growth.

An increase in advanced technological advancements in the healthcare industry is expected to create many occasions in the trauma fixation devices market.

The initiatives and funds raised by the government also provide some opportunities for the key players in the market. The funds raised by the government provide enormous market growth opportunities. In emerging economies like Asia and Latin America, the market escalates the market by untapped opportunities and high industrialization rates. Furthermore, increase in disposable incomes and growing awareness about the latest developments in the medical field, along with the availability of advanced medical facilities, favorable reimbursement policies, a rise in healthcare expenditure, high costs associated with surgeries, competitive pricing, and availability of substitutes have also contributed to the growth of the global trauma fixation devices market.

MARKET RESTRAINTS

Compatibility issues like infection and allergy are associated with external and internal trauma fixation devices.

Also, the high cost of these devices inhibits their adoption or usage in developing nations (with low disposable income) such as India, China, and Brazil. In addition, the scarcity of skilled workforce handling trauma fixation devices limits the market’s growth rate. The complications arising from using trauma fixation devices post-treatment are expected to impact market growth negatively.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Trauma Fixation Devices Market Analysis By Type

The internal fixation devices segment is employed to fix fractured bones indefinitely by implanting various devices. As a result, the internal trauma fixation devices segment holds the largest share, representing about 85% of the global trauma fixation devices market. Further, the demand for better services in trauma surgeries has led manufacturers to develop less invasive and more anatomical products, such as low-profile plating systems for extremity fixation procedures.

REGIONAL ANALYSIS

North America captured the largest share of the global market in 2023 and is predicted to continue holding the leading share throughout the forecast period owing to supportive government policies facilitating these devices' purchases. Companies with notable dominance in the global trauma fixation devices market are in the North American region, significantly contributing to the regional market's growth. In addition, the growing number of people suffering from diseases such as osteoporosis and rheumatoid arthritis is estimated to favor the market growth in this region in the coming days. According to the Centers for Disease Control and Prevention (CDC), rheumatoid arthritis affects approximately 1.3% of the adult population in the United States. Therefore, the U.S. contributed significantly to the North American region and helped North America to register the lead among all the regions in the global market in 2023.

Europe was the second largest regional market in the global market in 2023 and is expected to occupy a substantial share of the worldwide market during the forecast period. Therefore, E.U. countries such as U.K. and Germany are expected to have healthy growth in the coming days.

The Asia-Pacific region is anticipated to showcase the fastest CAGR worldwide during the forecast period. Asia-Pacific produces many possibilities for the key players operating in the trauma fixation devices market due to a large population, increased knowledge about the devices, the development of the healthcare industry, and an increase in demand for minimum invasive procedures. In addition, the rise in the geriatric population and personal disposable income of people in Asian countries such as China and India contribute to the market growth in these emerging nations.

The Latin American region is anticipated to grow due to improved access to healthcare, higher accident cases, and favorable demographics.

The market in MEA is predicted to grow at a CAGR of 6.67% during the forecast period.

KEY PLAYERS IN THE GLOBAL TRAUMA FIXATION DEVICES MARKET

Some notable companies dominating the global trauma fixation devices market profiled in this report are DePuy Synthesis, Smith & Nephew, Stryker Corporation, Zimmer, Biomet, Integra Lifesciences Corporation, Arthrex, Medtronic, Inc., Conmed, and Bioretec, Inc.

RECENT HAPPENINGS IN THE MARKET

• In December 2020, DePuy Syntheses introduced a radial head replacement system of implants. The system is designed for patients with destabilized radial head fractures.
• In September 2020, Stryker Corporation launched the T2 ICF Intramedullary nailing system, which provides a solution for patients suffering from severe foot conditions like Charcot foot. This is seen in patients with diabetes resulting in poor bone quality. 
• In October 2017, Zimmer Biomet announced Vitality+ and Vital spinal fixation systems in the U.S. The Vitality + Spinal Fixation Systems includes Vitality + POWER for easy and controlled pedicle preparation. 
• In September 2019, Smith + Nephew introduced the INTERTAN Product Assurance (IPA) program at the Orthopedic Trauma Association.

DETAILED SEGMENTATION OF THE GLOBAL TRAUMA FIXATION DEVICES MARKET INCLUDED IN THIS REPORT

In this research report, the global trauma fixation devices market has been segmented and sub-segmented based on the type, end-user, and region.

By Type

• Internal Trauma Fixation Devices
  • Screws
  • Plates
  • Rods
  • Wires
  • Intramedullary Nails
• External Trauma Fixation Devices
  • Unilateral Fixation
  • Circular Fixation
  • Hybrid Fixation

By End Users

• Hospitals
• Point of Care testing
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa