The Global Orthopedic Trauma Devices Market, by Fixator Type (Internal Fixator [Screws, Plates, Nails, and Others], External fixator), by Material (Non-absorbable [Titanium, Stainless steel, and Other] and Bio-absorbable), by End User (Hospitals, Orthopedic Clinic, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 4,915 million in 2016 and is projected to exhibit a CAGR of 5.3% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. The orthopedic trauma devices market is expected to gain significant traction with rising incidence of fractures due to road accidents, falls, and old age. Furthermore, increasing number of people suffering from osteoarthritis is expected to be another factor for growth of the market. For instance, by 2040, the number of adults in the U.S., with doctor-diagnosed arthritis is projected to be 78.4 million, according to International Osteoporosis Foundation statistics, and around 1.6 million hip fractures occur worldwide each year. This number could reach 4.5 million by 2050. Therefore, there is increasing demand for plates, screws, nails, and other implants such as staples and bridge for treatment of fractures. Emerging economies such as China and India are characterized by high prevalence of falls and road injuries. According to World Health Organization factsheet in 2018, 80% of worldwide fatal falls are reported from low and middle income countries. Asia Pacific region faces one of highest incidence of falls worldwide according to World Health Organization’s 2018 factsheet. This is another factor aiding in growth of the market.
New product launches, collaboration, and mergers by key players is expected to drive growth of the orthopedic trauma devices market
Key players are launching new and innovative products in screws, plating systems, and other orthopedic trauma devices, in order to cater to increasing demand by end users, thereby expanding their market share. For instance, in 2017, DePuy Synthes received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the VIPER and EXPEDIUM Fenestrated Screw Systems. This system provide stabilization and palliative treatment for patients suffering from spinal cord compression, due to advanced stage tumors. In 2015, DePuy Synthes launched two new variable angle plating systems featuring its proprietary variable angle locking technology. DePuy Synthes also launched an external circular fixation device named MAXFRAME Multi-Axial Correction System, in 2017, which can be used to correct bone or soft tissue deformities in the arm, leg, foot or ankle. In 2016, Zimmer Biomet received 510(k) clearance from the U.S. Food and Drug Administration for the Unite3D Bridge Fixation System. In 2017, company (Zimmer Biomet) showcased its innovative products in trauma segment such as A.L.P.S. Proximal Humerus Plating System, N-Force Fixation System. In 2015, Smith & Nephew launched its TRIGEN META-TAN (Trochanteric Antegrade Nail) System at the Orthopedic Trauma Association’s (OTA) annual meeting in San Diego, U.S.
Browse 65 Market Data Tables and 40 Figures spread through 180 Pages and in-depth TOC on “Orthopedic Trauma Devices Market- by Fixator Type (Internal Fixator [Screws, Plates, Nails, and Others], External fixator), by Material (Non-absorbable [Titanium, Stainless steel stand, and Other] and Bio-absorbable), by End User (Hospitals, Orthopedic Clinic, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2025”
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Companies are focusing on collaborative agreements, in order to expand their presence in emerging markets. For instance, in 2016, Stryker Corporation entered into collaboration with Indo UK Institute of Health's (IUIH) Medicity Program, to serve as a preferred partner in the orthopedic areas of hip, knee, and trauma products and services in India. Smith and Nephew launched Atlas Hip Fracture Nail in emerging markets such as South Africa and India, in 2017, to expand presence in these regions. Companies are also focusing on strategic mergers and acquisitions, in order to expand its footprint in the orthopedic trauma devices market. For instance, in 2015, Smith & Nephew plc acquired the trauma and orthopedics business of DeOst LLC and DC LLC, which is a manufacturing company in DeOst group from Russia. DeOst distributed Smith & Nephew’s products in Russia. In 2013, Smith & Nephew bought Adler Mediequip Private Limited, which was a mid-tier trauma business in India, and also acquired a direct presence in Turkey through buying assets related to the distribution of its orthopedic reconstruction, trauma, and sports medicine products in Turkey. In March, 2016 Zimmer Biomet entered into an exclusive global distribution agreement with CelgenTek Innovations Corporation, for its N-Force Fixation System and iN3 Cement.
Key Takeaways of the Orthopedic Trauma Devices Market:
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