Global Orthopedic Trauma Fixation Devices Market Will Reach $9.4 Billion in 2020
Persistence Market Research Released New Market Report on “Global Market Study on Orthopedic Trauma Devices: External Fixator to Witness Highest Growth by 2020”, the global orthopedic trauma devices market was valued at USD 5.7 billion in 2013 and is expected to grow at a CAGR of 7.2% from 2014 to 2020, to reach an estimated value of USD 9.4 billion in 2020.
Globally, the orthopedic trauma fixation devices market is witnessing a significant growth due to increase in incidence of fractures cases and increasing demand for better facilities in orthopedic trauma surgeries. As a result the market is expected to grow at a CAGR of about 7.2% during 2014-2020.
Some of the major driving factors for orthopedic trauma fixation devices market are raising number of participations in sports and increase in aged population.
In addition, government and multinational companies are increasing their investments in this industry. Increasing demand of better facilities in trauma surgeries has also setup the positive growth rate of orthopedic trauma fixation devices market.
However, various factors such as double surgery and absence of health insurance in developing countries, high cost of surgeries involved and less awareness are some of the major restrains faced by orthopaedic trauma fixation device market.
North America, including the U.S. holds the largest market of orthopedic trauma fixation device.
Asian region are witnessing the fastest growth of orthopedic trauma fixation devices market. Some of the fastest growing markets for orthopedic trauma are China, Japan, India and other countries in Southeast Asia and the Eastern Mediterranean.
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On the basis of the type of fixator, internal fixator has the largest market in the orthopedic trauma fixation devices market and is expected to grow at a CAGR of about 6.8% during 2014-2020. Plate and screw systems are the mostly used internal fixators for fixing a traumatized fracture.
Plate and screw system market is expected to grow at a CAGR of about 7.1% during 2014-2020.
Various major companies dealing in orthopedic trauma fixation devices market are increasing their investment in manufacturing of bioabsorbable fixation devices. Bioabsorbable fixation devices market is witnessing significant growth and it is expected to grow at a CAGR of about 8.4% during 2014–2020.
DePuy Synthes, a Johnson & Johnson company is a leading player in the global market for orthopedic trauma fixation devices, with a market share of about 47.3% in 2013. Some of the other companies dealing in orthopedic trauma fixation devices market are Stryker Corporation, Zimmer Holding Inc., Smith & Nephew, Orthofix Holding Inc.
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