Sales of trauma devices are expected to reach $15.9 billion by 2030; The United States dominates the upper limb segment
Motor vehicle accidents account for a significant portion of traumatic injuries, which will be the primary driver of trauma device sales
NEW YORK, October 18, 2022 /PRNewswire/ — According to new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global trauma device market is currently valued at US$9.3 billion and is expected to grow at a CAGR of 7% through 2030.
Traumatic injuries are caused by different blunt, piercing and burning processes. They include car accidents, sports injuries, falls, natural disasters, and a wide range of other physical injuries. The main drivers of growth of the trauma device market include an increase in unintentional injury cases, increased focus on medical device research and development capabilities, adoption of advanced healthcare technologies, growth in the global geriatric population, and advances in health care infrastructure, especially in developing countries. Another key driver of market growth is the increase in cases of osteoarthritis globally.
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The increasing frequency of sports-related injuries and the increase in the number of traffic accidents are expected to lead to the steady growth of hospitals for trauma fixation treatments over the projection period. Additionally, an increase in the number of multi-specialty hospitals, primarily in developing countries, that strive to offer effective treatments for trauma, will increase industry revenue. In addition, many public hospitals in developing countries offer affordable treatments, which will be an important factor in the growth of product sales.
The two major market trends are the rise of strategic partnerships and collaborations between companies that produce orthopedic trauma devices and the conversion of internal fixatives from metallic fixatives to non-metallic fixatives and bio-absorbable fixatives.
Key insights from market research
- Global sales of trauma devices are expected to grow at a CAGR of 7% from 2022 to 2030.
- The Global Trauma Devices Market is Expected to Reach US$15.9 billion by 2030.
- China The market is expected to expand at an impressive CAGR of 11% and reach US$3.8 billion by 2030.
- Sales of external fixators are expected to grow at a CAGR of 7.4% from 2022 to 2030.
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To expand and strengthen their geographical reach, some of the major players in the trauma device market are trying to acquire smaller companies and invest in R&D activities to obtain technologically advanced devices.
A lucrative pool of opportunities is expected to generate for the leading group of companies in the global market owing to the growing demand for outpatient surgical procedures and increased funding for the provision of top notch trauma treatments.
- To prevent infections, Swedish medical device manufacturer Bactiguard has teamed up with Zimmer Biomet, a leading producer of orthopedic trauma devices. The result of this collaborative effort is Zimmer Natural Nail (ZNN) Bactiguard implants, as they are currently available in select EMEA markets and will soon be available in other regions.
Trauma Devices Market: Key Players
- Acumed LLC
- Advanced orthopedic solutions
- Bioretec Ltd.
- Cardinal Health, Inc.
- DePuy Synthes
- Integra Life Sciences Holdings Corporation
- Smith & Nephew PLC
- Stryker Company
- Wright Medical Group S.A.
- Zimmer Biomet Holdings, Inc.
Companies are focusing on creating technologically sophisticated trauma devices to expand their market share. Trauma devices have witnessed revolutionary advances in technology and user-friendliness, accelerating the growth of the market.
- The “FIBULINK Syndesmosis Repair System” was introduced in the United States in October 2020 by DePuy Synthes. The gadget is intended to treat traumatic syndesmosis injuries.
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Key segments of the trauma device industry research
- By type:
- Internal fixators
- External fixators
- By Surgical Site:
- The upper extremities
- Per end user:
- Ambulatory surgery centers
- By region:
- North America
- Latin America
- East Asia
- South Asia & Oceania
More valuable information in offer
Fact.MR, in its new offering, presents an unbiased analysis of the Trauma Devices Market, showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2030.
The study discloses essential market insights based on type (internal fixators, external fixators), surgical site (lower extremities, upper extremities) and end user (hospitals, ambulatory surgery centers, others), in five major regions of the world (North America, Europe, Asia Pacific, Latin Americaand MEA).
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