Trauma and extremities devices include various simple and complex devices, growing at a considerable pace. According to World Health Organization (WHO), injury accounts for 16% of disease burden globally. Psychological trauma arises from several events including workplace injury, accidents, sports injury, harassment, robbery, and emotionally intrusive thoughts.
Factors such as increase in number of accidents, rise in number of sports related injury, change in lifestyle, and growth in number of geriatric population are projected to fuel the trauma and extremities market. According to WHO, 16,000 people die from injuries every day. Technological advancement and government reimbursement policies are other factors driving the trauma and extremities market globally. The WHO plays an important role to meet these challenges, which include promotion of low-cost improvements in injury care; improvement and standardization of injury surveillance systems; and promotion of injury control policy initiatives for violence, traffic, and other major sources of injury such as sports injury. However, restraints such as stringent regulation for product approval, allergy associated with the utilization of external and internal trauma fixation devices, and chances of infection are expected to hinder the trauma and extremities market globally.
The trauma and extremities market has been segmented by product type, injury type, end-user, and geography. In terms of product type, the trauma and extremities market is classified into external fixation device and internal fixation device. External fixation device includes Schanz pin, connecting rod, and clamp. External fixation devices are used for temporary injuries and can be adjusted according to personal requirement. Internal fixation device includes intramedullary nails, conventional hip screws, hip screws, cables, wires, cannulated screws, and pins & plates. The internal fixation devices segment is estimated to grow at a faster rate owing to low product price, better patient outcomes, and increased ability to visualize fracture during surgery in comparison to the external fixation devices. In terms of injury type, the trauma and extremities market is classified into upper extremities, lower extremities, hip fracture and pelvic, shoulder, and foot and ankle. In terms of end-user, the trauma and extremities market is segmented into hospitals, ambulatory surgery centers, specialty clinics, and orthopedic centers.
Geographically, the trauma and extremities market is classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America dominates the trauma and extremities market due to increase in population aging and technological advancement. The North America market is followed by Europe and Asia Pacific. Europe is a significant market for trauma and extremities due to increase in research and development activities and growth in health care awareness among people. Asia Pacific is expected to grow at a higher rate owing to growth in number of population, rise in health care expenditure, and increase in per capita expenditure. These factors are anticipated to fuel the trauma and extremities market. Developing countries such as Brazil, South Africa, and Mexico are projected to create good opportunity for market growth of trauma and extremities devices due to higher accident cases, favorable demographics, and improvement in access to health care. The burden of disability and death from injury is especially notable in low- and middle-income countries. Till date, developing countries account for approximately 90% of injury burden globally.
Major players operating in this market include Stryker, DePuy Synthes, Smith & Nephew, Wright Medical Technology, Inc., Zimmer Biomet, Integra LifeSciences Corporation, Acumed, Bioretec Ltd., Advanced Orthopedic Solutions, and Cardinal Health.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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