[Latest] Orthopedic Trauma Devices Market Size Will Attain USD 38.2 Billion by 2030 Growing at 9.5% CAGR – Exclusive Report by Zion Market Research
The global orthopedic trauma devices market size is projected to reach USD 38.2 billion by 2030 from its value of USD 18.5 billion in 2022, at a CAGR of 9.5% during the forecast period, as highlighted in a report published by Zion Market Research.
NEW YORK, United States, Sept. 26, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Orthopedic Trauma Devices Market By Type (Internal Fixators And External Fixators), By Material (Metallic And Bioabsorbable), By End-User (Hospitals, Ambulatory Centers, Orthopedic & Trauma Centers, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the global orthopedic trauma devices market size was valued at around USD 18.5 billion in 2022. The market is expected to grow at a CAGR of 9.5% and is anticipated to reach a value of USD 38.2 billion by 2030.”
Orthopedic Trauma Devices Market Overview:
Orthopedic trauma refers to any severe injury to the bones, joints, or soft tissues caused by an external source. These injuries are frequently the result of an unexpected incident, such as a car accident or a slip and fall, though this is not always the case. Trauma can also result from excessive use; for instance, long-distance running frequently causes tibial stress fractures, which are microscopic hairline cracks in the lower limb. Orthopedic trauma devices are used to repair fractured bones and restore the anatomic alignment of joint surfaces, allowing for regeneration and the restoration of the full functionality of the affected body part.
Reconstructive surgery employs instruments such as fasteners, plate systems, intramedullary nails, and specialized implants. Various materials, including titanium, stainless steel, and others, are frequently employed in the production of these devices. Polylactic acid and polyglycolic acid are used in the treatment of orthopedic trauma.
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|Report Attribute||Report Details|
|Market Size in 2022||USD 18.5 Billion|
|Market Forecast in 2030||USD 38.2 Billion|
|Growth Rate||CAGR of 9.5%|
|Forecast Years||2023- 2030|
|Key Companies Covered||B. Braun Melsungen AG, Stryker, Smith & Nephew plc, Medical Devices Business Services Inc., Zimmer Biomet, CONMED Corporation, Citieffe s.r.l., Acumed LLC, Integra LifeSciences Corporation, Orthofix Holdings Inc., Biotek, Wright Medical Group N.V., Invibio Ltd, Auxein Medical, Medtronic, NuVasive Inc, 3M, ALCARE Co. Ltd., Bauerfeind USA Inc., and others.|
|Segments Covered||By Type, By Material, By End User, and By Region|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Key Insights from Primary Research
- The growing geriatric population and increasing road accidents across the globe are expected to drive orthopedic trauma devices market growth over the forecast period.
- Based on the type, the external fixators segment is expected to capture the largest market share over the forecast period.
- Based on the end user, the hospital segment is expected to dominate the market during the forecast period.
- Based on region, North America is expected to dominate the market over the forecast period.
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Orthopedic Trauma Devices Market: Growth Drivers & Restraints
- Increasing road accidents across the globe drive market expansion
The growth of the market for orthopedic trauma devices is anticipated to be bolstered by the escalating number of global road accidents during the forecast period. According to “Road Accidents in India 2021,” there were 4,12,432 road accident incidents in 2021, which resulted in 1,53,972 fatalities and 3,84,448 injuries. Moreover, according to data from the World Health Organization, approximately 1.3 million people per year are killed in traffic accidents. Many of the 20 to 50 million additional individuals who sustain nonfatal injuries go on to develop disabilities. Consequently, these statistics support the growth of market revenue during the forecast period.
- High costs and limited reimbursements hamper the market growth
Orthopedic trauma devices, especially innovative implants and instruments, can be costly. Some patients and healthcare systems may not be able to afford these treatments, particularly in regions with limited healthcare resources. Furthermore, reimbursement programs may not always cover orthopedic trauma devices in full. This may have a negative effect on patient affordability and discourage healthcare organizations from implementing the most recent and innovative technology. Thus, this is expected to act as a significant restraining factor to the orthopedic trauma devices industry growth during the forecast period.
Orthopedic Trauma Devices Market: Segmentation
The global Orthopedic Trauma Devices industry is segmented based on type, material, end user, and region.
Based on the type, the global market is bifurcated into internal fixators and external fixators. The external fixators segment is expected to capture the largest market share over the forecast period. Medical devices known as external fixators are used to immobilize and stabilize broken bones, dislocated joints, and soft tissue injuries without internal support. Based on the material, the global orthopedic trauma devices market is bifurcated into metallic and bioabsorbable.
Based on the end user, the orthopedic trauma devices industry is bifurcated into hospitals, ambulatory centers, orthopedic & trauma centers, and others. The hospital segment is expected to dominate the market during the forecast period.
Browse the full “Orthopedic Trauma Devices Market By Type (Internal Fixators And External Fixators), By Material (Metallic And Bioabsorbable), By End-User (Hospitals, Ambulatory Centers, Orthopedic & Trauma Centers, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/orthopedic-trauma-devices-market
- North America is expected to dominate the market growth
The market for orthopedic trauma devices is anticipated to be dominated by North America during the forecast period. The increase in geriatric patients and the prevalence of osteoporosis and other bone diseases will drive the market’s expansion during the forecast period. In 2020, osteoporosis is projected to affect 12.3 million Americans over the age of 50, which is anticipated to fuel market growth throughout the forecast period. The JAMA (Journal of the American Medical Association) has made this forecast.
In contrast, Asia-Pacific is anticipated to experience the highest CAGR during the forecast period. China and India are likely the two nations with the greatest senior citizen populations. As a consequence, it is anticipated that demand in these nations will increase significantly in the near future.
The report contains qualitative and quantitative research on the global orthopedic trauma devices market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global orthopedic trauma devices market include;
- B. Braun Melsungen AG
- Smith & Nephew plc
- Medical Devices Business Services Inc.
- Zimmer Biomet
- CONMED Corporation
- Citieffe s.r.l.
- Acumed LLC
- Integra LifeSciences Corporation
- Orthofix Holdings Inc.
- Wright Medical Group N.V.
- Invibio Ltd
- Auxein Medical
- NuVasive Inc
- ALCARE Co. Ltd.
- Bauerfeind USA Inc.
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The global orthopedic trauma devices market is segmented as follows:
- Internal Fixators
- External Fixators
By End User
- Ambulatory Centers
- Orthopedic & Trauma Centers
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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Key questions answered in this report:
- What is the market size and growth rate forecast for Orthopedic Trauma Devices industry?
- What are the main driving factors propelling the Orthopedic Trauma Devices Market forward?
- What are the leading companies in the Orthopedic Trauma Devices Industry?
- What segments does the Orthopedic Trauma Devices Market cover?
- How can I receive a free copy of the Orthopedic Trauma Devices Market sample report and company profiles?
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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