As per the report published by the experts, in 2018 the scope of the global Trauma and Extremities Devices Market was appreciated at US$ 10.04 billion. It is expected to develop by a CAGR of 7.7% during the period of forecast to touch US$ 17.9 billion by the completion of 2026.
Increasing suburbanization in emerging nations causing to countless accidents of road along with refining healthcare amenities are expected to motivate the development of the trauma and extremities device industry.
Increasing elderly population accompanied by the occurrence of illnesses for example osteoporosis is expected to drive the development of the trauma & extremities devices market. Presentation of innovative equipment by means of technique and material and the non-invasive property of the used material is expanding the demand for trauma and extremities devices.
The proportion of accidents on road in low-income nations is very much higher it is almost 24% as against to the 9% witnessed in high-income nations. This functions such as an eye-catching opening for minor companies to enlarge their business into these states. Owing to their low prices, home-grown implantations are favored in low-income nations. Therefore, adding to the benefits of these devices for the regional companies.
In 2014, the occurrence of diabetes touched 422 million. It is predicted to observe speedy development, particularly in middle-income nations. Additional difficulties, for example diabetic foot, likewise disturb a big group of diabetes patients. Nearly 7% of diabetics are suffering with diabetic foot every year, instigating 20% of them to be hospitalized. Diabetic foot is treated by external fixators therefore growing its acceptance. External fixators permit very thin alignment by way of delivering mechanical steadiness to physically lacking bones. Increasing occurrence of diabetic foot is estimated to increase the demand for external fixators.
The global trauma and extremities devices industry can be classified by Type, Application and Region. By Type, it can be classified as: Long Bone Stimulation, External Fixation Devices, Craniofacial Devices, Internal Fixation Devices and Other Trauma Devices. By Application, it can be classified as: External Fixation Devices, Internal Fixation Devices.
By Region the global trauma and extremities device market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was responsible for the supreme share of the market, by means of revenue, in 2018. The existence of business giants, for example Wright Medical Group, Inc., Stryker Corporation, Zimmer Biomet Holdings, Inc. and DePuy Synthes increases the development of the regional market for trauma & extremities devices. In the U.S.A., Smith and Nephew noted down the development of 3% in the clear sales during 2018.Furthermore, Wright Medical Technology, Inc. projected a market value of US$ 300 million for their bone graft, AUGMENT, designated for the fusion of foot and ankle.
Asia Pacific is likely to appear by way of the speedily developing province during the period of forecast. Increasing number of accidents on road is the crucial motivating feature for the development of the regional trauma & extremities devices industry. Improving healthcare restructurings and financial circumstances are expediting the greater demand. Similarly, it is fascinating the companies to deliver biocompatible implants structurally nearer to their native construction, necessitating price effective and minimally invasive processes.
The manufacturing companies deliver an extensive variety of products with durable materials and custom-made fixations. The market has observed active accomplishments of merger & acquisition during latest years. This adds to the big share seized by the limited business giants. DePuy Synthes picked up Biomedical Enterprises, Inc. in May 2016, on secret terms and conditions. The company is likely to offer an additionally broad collection of the products for ankle, wrist, hands and feet.
The development of the innovative product is one of the important aspects increasing the market. Manufacturing companies capitalize in R&D and present fresh and better-quality products by means of superior material and providing easiness for using. For example, Acumed presented two fresh products, in May 2016, ankle plating system 3 and small fragment base set. The company expects a robust development in revenue. As a consequence, firming its position such as a market front-runner.
Some of the important companies for trauma & extremities device market are: Medtronic, Stryker, Zimmer Biomet, DePuy Synthes and Others. Additional notable companies are: Cardinal Health, Smith & Nephew, Bioretec Ltd., Advanced Orthopedic Solutions, Acumed, Wright Medical Group N.V., Integra Lifesciences.
Trauma and Extremities Devices Type (Revenue, USD Million, 2015 - 2026)
• Internal Fixation Devices
• Plates and screws
• Rods and Pins
• Bone Grafts
• External Fixation Devices
• Craniofacial Devices
• Internal Craniofacial Devices
• External Craniofacial Devices
• Long Bone Stimulation
• Other Trauma Devices
Trauma and Extremities Devices Regional Outlook (Revenue, USD Million, 2015 - 2026)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
• South Africa
Research Support Specialist, USA