The global orthopedic trauma fixation devices market is highly consolidated in nature. DePuy Synthes, a Johnson & Johnson enterprise, is the foremost global player in the orthopedic trauma fixation devices market, with a share of 47.3% in 2013. Other major players in the market include Smith & Nephew, Stryker Corporation, Zimmer Holding Inc., and Orthofix Holding Inc.
In order to ensure market share and sustainability, the major market players are adopting successful business strategies such as product innovations and mergers and acquisitions, finds Transparency Market Research (TMR).
According to a TMR report, the global orthopedic trauma fixation devices market is expected to be valued at US$9.3 bn by the end of 2020.
North America to Dominate Market with Sophisticated Reimbursement Framework
On the basis of type, the global orthopedic trauma fixation devices market can be segmented into external fixators and internal fixators. Internal fixators hold the dominant market share and this segment is predicted to expand at a CAGR of 6.8% from 2014 to 2020. There are primarily three types of internal fixators, namely intramedullary screws, intramedullary nails, and plate and screw systems. Due to high usage of plates and screws in orthopedic surgeries, they account for the leading market share. The plates and screws market is projected to be followed by the hip fixation devices and intramedullary fixation devices market. By composition, the market comprises metallic and bio-absorbable fixators. Numerous orthopedic trauma fixation device companies are concentrating on manufacturing internal fixators with bio-absorbable materials. The market for bio-absorbable fixators is anticipated to expand at an 8.4% CAGR between 2014 and 2020.
The global market of orthopedic trauma fixation devices can be segmented on the basis of geography into Europe, North America, Asia Pacific, and Rest of the World. North America, inclusive of the U.S., accounts for the leading share in the market for orthopedic trauma fixation devices. The factors attributing to the growth in this region is the existence of sophisticated reimbursement framework and high accident rates.
With improving healthcare facilities, government support, and increased disposable income, Asia Pacific is likely to expand at a swift pace. Japan and China are a few of the most rapidly emerging markets for orthopedic trauma fixation devices in Asia, along with several other countries in the East Mediterranean and Southeast Asian regions.
High Frequency of Sports Injuries Assist Demand Growth
The global market for orthopedic trauma fixation devices is expanding due to the rising occurrence of fractures and sports injuries. Severe injuries to the musculoskeletal system are known as orthopedic traumas. These injuries are serious and need immediate attention by an orthopedic trauma specialist or an orthopedic surgeon. As per the WHO, the number of deaths reported per year due to traffic accidents is about 1.24 million. There is an urgent need to tend to these cases in order to save lives, thus paving the way for orthopedic trauma fixation devices.
Factors such as increasing demand for improved facilities in orthopedic trauma surgeries and rising investments by multinational companies and governments have supported the growth of the market for orthopedic trauma fixation devices. Furthermore, increased prevalence of osteoarthritis and rheumatoid arthritis is expected to escalate the demand for orthopedic trauma fixation devices. On the other hand, there are certain factors that limit the market growth. These are rising cost of orthopedic surgeries, dearth of awareness, chances of double surgery, and absence of health insurance in emerging economies.
This review is based on the findings of a TMR report titled ‘Orthopedic Trauma Fixation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.’
Key segments of the Orthopedic Trauma Fixation Devices Market
Global Orthopedic Trauma Fixation Devices Market, by Fixator
- Internal Fixator
- Intramedullary Nail
- Intramedullary Screw
- Plate and Screw System
- External Fixator
Global Orthopedic Trauma Fixation Devices Market, by Composition
- Metallic Fixators
- Bioabsorbable Fixators
Global Orthopedic Trauma Fixation Devices Market, by Geography
- North America
- Rest of the World
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