Trauma Devices Market Overview:
The market is fueled mainly by a dramatic increase in the geriatric population around the world and by an alarming increase in the number of traffic accidents. It is expected that cases of serious fractures resulting from falls and accidents among the elderly population contribute to the growing demand for fracture repair. About 40.0% of injuries are caused by falls and traffic accidents. The elderly population and children under the age of seven are more exposed to falls. Traffic accidents account for more than 28% of injuries. This is a key factor that benefits the global market. The aging of the population with a high risk of fractures due to osteoarthritis, an increase in the incidence of osteoporosis and advances in technology such as the use of orthobiological products and biodegradable materials will stimulate the growth of the market in the next years.
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Trauma Devices Market Size and Growth Rate Analysis:
The trauma device market is expected to reach USD 8.34 billion by 2025, compared to USD 5.99 billion in 2017, with a CAGR of 7 % during the forecast period.
Regional Analysis of Trauma Devices Market:
North America had the majority of the general market in 2017 due to the high rate of accidental injuries and a large geriatric population. Several trauma centers created by governments are specialized in emergency management and, therefore, create a defined market for trauma devices. The Asia-Pacific region is expected to be the most lucrative segment during the forecast period, with India as the growth spearhead. The increase in the geriatric population in Japan and China, the alarming increase in traffic accidents and the rapid development of economies are some of the factors that are likely to promote the market in Asia-Pacific. The demand for surgical staples in this region is mainly driven by medical tourism for bariatric surgeries and other minimally invasive surgeries.
Prominent Players in Trauma Devices Market are:
Arthrex, Inc., CONMED Corporation, DePuy Synthes (Johnson & Johnson), Smith & Nephew plc, Stryker Corporation, Integra Lifesciences Holdings Corporation, Zimmer Biomet Holdings, Inc., Bioretec Ltd., Wright Medical Group N.V., Advanced Orthopaedic Solutions, Inc.
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