|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The trauma fixation devices market is expected to register a CAGR of nearly 6.5% during the forecast period.
Due to the outbreak of COVID-19, the overall trauma fixation devices market experienced a significant impact in terms of demand. As per the study titled, ''Fracture management during COVID-19 pandemic: A systematic review'', published in July 2020, the COVID-19 has drastically reduced the burden of fracture patients worldwide. Thus, a negative impact is expected on the market studied due to the outbreak of COVID-19.
The trauma fixation devices market is expected to be primarily driven by increasing demand for trauma fixation devices in hospital departments and outpatient surgery. According to the World Health Organization, 2020, more than 1.35 million people die every year due to road traffic crashes and accidents. Road traffic injuries are one of the leading causes of mortality, especially among people aged between 15 and 29 years.
Furthermore, as per the Organization for Economic Co-operation and Development data, in 2019, about 51.9 per 100,000 individuals met with road traffic accidents in Canada, while around 52.6 per 100,000 individuals met with road traffic accidents in Italy. Hence, these above-stated statistics show that the increasing number of road injuries and accidents is affecting the global population, which is ultimately increasing the demand for trauma fixation devices in healthcare facilities.
Additionally, the demand for trauma fixation devices is also growing due to technologically advanced products, such as bioresorbable implants and nano-coated devices. In June 2020, Depuy Synthes, a subsidiary of Johnson & Johnson, launched Dynacord Suture in several European markets. The product is intended to be used in procedures, such as soft tissue approximation, in rotator cuff repairs.
Some of the other factors contributing to the market growth are the rising geriatric population, the growing burden of degenerative bone diseases, and increasing incidences of sports injuries, worldwide.
Scope of the Report
As per the scope of the report, trauma is a physical injury that includes burns, fractures, sprains, strains, etc., caused by any external source (fire and accident). The Centers for Disease Control and Prevention (CDC) has defined trauma as 'an injury or wound to a living body caused by the application of external force or violence'. The trauma fixation devices market is segmented by type (internal (plates, screws, nails, and others) and external fixators (unilateral and bilateral external fixators, circular fixators, and hybrid fixators), surgical site (lower extremities (hip and pelvic, foot and ankle, knee, and others) and upper extremities (hand and wrist, shoulder, spine, and others), end user (hospitals, ambulatory surgery centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
|By Surgical Site|
|By End User|
|Ambulatory Surgery Centers|
|Other End Users|
Key Market Trends
Circular Fixators Segment is Expected to Hold a Major Share in the Trauma Fixation Devices Market
The circular fixator segment is expected to hold a major share in the Trauma Fixation Devices market. As per a 2020 study by Umut Oguzoglu, from IZA Institute of Labor Economics, in Turkey, in March and April 2020, traffic accidents with death or injury declined approximately by 20% and 60% respectively, as compared to the same months last year. The decline in accidents with material loss is 13% and 46%. This resulted in a decline in reported injuries by 13% and 75%. Hence, this decline in traffic crashes is expected to ultimately decline the demand for circular fixators as well.
The classic circular frame is an Ilizarov external fixator that has now been integrated with the newer Taylor Spatial Frame. The basic components of this frame are rings, connecting rods, and struts. There are different types of Ilizarov rings that include full (closed) rings, partial (open) rings, and arches. A recent study by Koji Nozaka et al., published in BMC Musculoskeletal Disorders 2020, showed that circular external fixation is a safe and reliable method for periprosthetic fractures around the knee in elderly patients.
Furthermore, the introduction of new products by the companies in order to put forth their strong presence in the market is expected to accelerate the market growth. For instance, in February 2020, AMDT Holdings Inc. announced to launch SixFix Circular Fixation System. It is a platform that addresses extremity applications in case of trauma, foot and ankle, and deformity correction for both adults and pediatrics. Such advancements are further expected to boost the market studied in this segment.
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North America is Expected to Dominate the Trauma Fixation Devices Market, Over the Forecast Period
North America Trauma Fixation Devices is expected to witness a surge in the future. With the emergence of COVID-19, the demand for trauma fixation devices experienced a decline in 2020. This is mainly due to the decline in the load of fracture cases and delayed orthopedic surgeries. But with the activities resumed now, the market is expected to boost in the coming years. In May 2020, Syosset Hospital, United States, resumed performing elective surgeries, including that related to orthopedic and trauma.
The primary factors responsible for the market growth are the increasing number of geriatric patients, the rising burden of osteoporosis and other bone diseases, increasing incidents of burn cases. According to JAMA (The Journal of the American Medical Association), by 2020, approximately 12.3 million individuals in the United States older than 50 years are expected to have osteoporosis, which is expected to drive the market growth over the forecast period.
Furthermore, according to the Centers for Disease Control and Prevention, in May 2020, unintentional injury accounted for 169,936 deaths each year, and unintentional injuries accounted for 39.5 million physician visits and 29.4 million emergency department visits in the United States. Thus, the factors mentioned above are expected to thrive in the market growth in the region.
However, as per a study published in the Journal of Orthopaedic Trauma, 2020, there has been a steady decrease in Medicare reimbursements for orthopedic trauma surgery from 2000 to 2020. Such instances are expected to obstruct market growth.
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The trauma fixation devices market is moderately fragmented. Some major players in the trauma fixation devices market include - Medtronic PLC, Cardinal Health Inc., Stryker Corporation, Smith & Nephew, Johnson & Johnson, Zimmer Biomet, Integra Lifesciences Holdings Corporation, Conmed Corporation, B Braun Melsungen AG, and Arthrex Inc., among others.
- In October 2020, DePuy Synthes (Johnson & Johnson) introduced the 'FIBULINK Syndesmosis Repair System' in the United States. The device is designed to address traumatic injuries to the syndesmosis.
- In July 2020, Orthofix received the United States Food and Drug Administration and CE Mark approval for its product 'JuniOrtho plating system'. This device is designed specifically for pediatric patients for advanced deformity and trauma reconstruction of the lower extremities.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Bone Degenerative Diseases
4.2.2 Increasing Number of Road Accidents
4.2.3 Technological Advancements in Medical Devices
4.3 Market Restraints
4.3.1 Lack of Trained Professionals
4.3.2 Stringent Regulatory Issues
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Internal Fixators
5.1.2 External Fixators
18.104.22.168 Unilateral and Bilateral External Fixators
22.214.171.124 Circular Fixators
126.96.36.199 Hybrid Fixators
5.2 By Surgical Site
5.2.1 Lower Extremities
188.8.131.52 Hip and Pelvic
184.108.40.206 Foot and Ankle
5.2.2 Upper Extremities
220.127.116.11 Hand and Wrist
5.3 By End User
5.3.2 Ambulatory Surgery Centers
5.3.3 Other End Users
5.4 By Geography
5.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.4.3 Asia Pacific
188.8.131.52 South Korea
184.108.40.206 Rest of Asia Pacific
5.4.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.4.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Arthrex Inc.
6.1.2 Braun Melsungen AG
6.1.3 Cardinal Health Inc.
6.1.4 Conmed Corporation
6.1.5 Johnson & Johnson
6.1.6 Orthofix Medical Inc.
6.1.7 Medtronic PLC
6.1.8 Smith & Nephew PLC
6.1.9 Stryker Corporation
6.1.10 Zimmer Biomet
6.1.11 Invibio Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Trauma Fixation Devices Market market is studied from 2018 - 2026.
What is the growth rate of Global Trauma Fixation Devices Market?
The Global Trauma Fixation Devices Market is growing at a CAGR of 6.5% over the next 5 years.
Which region has highest growth rate in Global Trauma Fixation Devices Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Trauma Fixation Devices Market?
North America holds highest share in 2020.
Who are the key players in Global Trauma Fixation Devices Market?
Medtronic PLC, Stryker Corporation, Johnson & Johnson, Cardinal Health Inc., Smith & Nephew PLC are the major companies operating in Global Trauma Fixation Devices Market.