Solid Growth Predicted for Trauma Market Over Next Six Years

According to a new market report published by Albany, N.Y.-based Transparency Market Research, the global orthopedic trauma fixation devices market currently is estimated at $6.1 billion and is expected to grow at a compound annual growth rate (CAGR) of 7.2 percent from 2014 to 2019, to reach an estimated value of $9.3 billion in 2020.

Globally, the orthopedic trauma fixation devices market is witnessing significant growth due to increasing incidence of fractures and lack of substitutes, study authors noted. As a result, growth is forecast.

Some of the key driving factors for the orthopedic trauma fixation devices market are increase in the elderly population, growing healthcare costs, and rising prevention measures for various orthopedic-related problems. Increasing participation in sports and rising number of road accidents are the leading causes for trauma fracture cases. Growing demand for better facilities in orthopedic trauma surgeries, and increasing investments by governments and multinational companies has enabled the growth of the orthopedic trauma fixation devices market, study authors noted.

However, the market faces some restraints such as high cost of surgery, lack of awareness, double surgeries, and absence of health insurance in developing countries.

North America, including the United States, has the largest orthopedic trauma fixation devices market. Asia is the fastest-growing market. Some of the fastest-growing markets for orthopedic trauma fixation devices are China, Japan, other countries in Southeast Asia and the Eastern Mediterranean, according to the report.

On the basis of the type of fixators, internal fixators have the largest market share in the orthopedic trauma fixation devices market and are expected to grow at a CAGR of about 6.8 percent during 2014-2020. Plate and screw systems are most widely used internal fixators and the market for same is expected to grow at a CAGR of about 7.1 percent during the six-year period. Various orthopedic trauma fixation devices companies are increasing their focus on manufacturing of internal fixators with bioabsorbable material. Market for bioabsorbable fixators is expected to grow at a CAGR of about 8.4 percent to 2020.

DePuy Synthes, a Johnson & Johnson company, is the leading player in the global market for orthopedic trauma fixation, with a share of about 47.3 percent of the market in 2013, analyts noted. Other major players of orthopedic trauma fixation devices market include Stryker Corp., Smith & Nephew plc, Zimmer Holdings Inc. and Orthofix Holdings Inc.