Portland, OR, Nov. 19, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Internal Trauma Fixation Device Market garnered $8.80 billion in 2019, and is expected to reach $12.72 billion by 2027, witnessing a CAGR of 4.9% from 2020 to 2027. The study offers a detailed analysis of changing market dynamics, top investment pockets, key winning strategies, major segments, value chain, and competitive landscape.
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Increase in incidence of orthopedic diseases, rise in number of road accidents and injuries, and enhanced healthcare facilities in developing countries fuel the growth of the global internal trauma fixation device market. However, scarcity of skilled professionals and high costs related to implants hinder the market growth. On the other hand, untapped potential from the developing countries presents new opportunities in the coming years.
Covid-19 Scenario:
- Manufacturing activities have been stopped due to lockdown and disrupted supply chain resulted in a shortage of raw materials.
- Hospitals carried out bone implantation and fixation procedures for emergency cases only. Else, the procedures were postponed to prevent the risks related to cross-contamination. Moreover, the staff was reallocated to manage coronavirus-infected patients.
- Owing to lockdown, the cases of road accidents and sports injuries reduced significantly. So, the demand for these devices from hospitals lowered down.
- With governments of many countries lifting off lockdown restrictions, the demand for these devices would increase steadily as hospital began performing implantation and fixation services for patients.
The report provides detailed segmentation of the global internal trauma fixation device market based on product, material, end user, and region.
Based on product, the closure devices segment held the highest share in 2019, contributing to nearly three-fourth of the total market share, and will continue its leadership status throughout the forecast period. Moreover, this segment is projected to witness the largest CAGR of 5.2% from 2020 to 2027. The report offers an extensive analysis of the bone cement segment.
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Based on end user, the hospitals segment accounted for the highest share in 2019, contributing to nearly half of the global internal trauma fixation device market, and is expected to maintain its dominance in terms of revenue during the forecast period. However, the orthopedic surgical centers segment is expected to grow at the fastest CAGR of 5.6% from 2020 to 2027.
Based on region, North America contributed to the largest market share in 2019, holding more than two-fifths of the total share, and will maintain its lead position by 2027. However, Asia-Pacific is projected to portray the highest CAGR of 5.7% during the forecast period.
Leading players of the global internal trauma fixation device market analyzed in the research include B. Braun Melsungen AG, Globus Medical Inc., Johnson & Johnson Company (DePuy Synthes), Medartis Holding AG, Orthopaedic Implant Company, Osteomed, Smith & Nephew plc., Stryker Corporation, Wright Medical Inc., and Zimmer Biomet, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.