Market Size of Global Trauma Fixation Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Trauma Fixation Devices Market Analysis
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.
