New York, USA, June 13, 2023 (GLOBE NEWSWIRE) -- Orthopedic Trauma Devices Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Orthopedic Trauma Devices Market Information By Material Type, Product Type, End-User, And Region - Forecast till 2030", the market size was valued at USD 5.9 billion in 2022 and is projected to grow from USD 6.3 Billion in 2023 to USD 9.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2023 - 2030).
Market Scope
Orthopedic trauma refers to injuries that primarily affect the human skeleton, which restricts a person's range of motion and lowers the quality of life. It covers ailments ranging from minor fractures to serious life-threatening injuries brought on by mishaps or other tragic incidents. Bone fixation almost always requires the use of dental implants in orthopedics. Over time, the materials used for the implant went initially inert to take on the appearance of bone. As a result, biocompatible, bioactive, and absorbable materials have been created. The main goal of external fixation is to safeguard the stability of the fracture's position, length, and rotation. Fixation from the outside may be used for both short-term and long-term solutions.
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Both methods can be used alongside partial internal fixation if necessary. For orthopedic doctors working in trauma centers, knowledge of the techniques and theories of external fixation for various breaks of the lower limbs, upper extremities, and pelvis is essential. Rising cases of crash-related injuries and fractures, rising launches of new creative goods, ever-rising advances in technology and the development of new instruments, and the unexplored potential of new markets will all further create lucrative possibilities for market growth. The market is anticipated to grow significantly due to a spike in the frequency of small fractures and severe, life-threatening injuries. The rise in collisions and other fatalities, in addition to the trauma associated with traffic accidents and falls, as well as the increasing level of osteoarthritis and orthopedic injuries from sports, are additional significant factors influencing the growth of the global market.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 9.4 billion |
| CAGR | 6.80% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material Type, Product Type and End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing prevalence of osteoporosis to propel market growth |
| Rising traffic injury occurrences is another important element driving the market |
Orthopedic Trauma Devices Market Competitive Landscape:
The vital companies in the orthopedic trauma devices market are:
- NVIBIO (UK)
- Stryker
- Johnson & Johnson Services Inc. (US)
- Smith & Nephew
- MEDTRONIC
- BIOTEK (India)
- DEPUY SYNTHES Companies
- Ortho Max Manufacturing Company PVT. Ltd.
- AUXEIN Medical (India)
- Braun MELSUNGEN AG
Orthopedic Trauma Devices Market Trends
Market Drivers:
Alloys based on magnesium create modern biodegradable metals with good osseointegration characteristics. Ongoing research will concentrate on the creation of alloys with a slow destruction rate and increased durability to cope with load-bearing zone fractures. Even though the discipline of orthopedics is still in its infancy, the quick development and application of the technology for 3D printing have greatly benefited orthopedics. The main causes of the increase in orthopedic trauma include the growing incidence of orthopedic disorders, a growing focus on medical device research and development expertise, an increase in the world's geriatric population, the adoption of cutting-edge IT healthcare technologies, and rising costs for the construction of healthcare infrastructure, particularly in developing economies.
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Regulations require the distribution of medical equipment that is secure for end users. Orthopedic trauma devices are in high demand as cases of rheumatoid arthritis and osteoarthritis rise. The market is expected to grow due to rising demand for orthopedic trauma devices with integrated sensors for remote health monitoring. The growth in the marketplace of orthopedic trauma devices is anticipated to be boosted by introducing modern orthopedic trauma implants strengthened with long-lasting infection-prevention qualities. One of the key factors driving the market's expansion is the rise in osteoarthritis cases. Another factor influencing market growth is the growing volume of applications from developing nations.
Restraints
The pace of market expansion will be slowed by the underdeveloped nations' lack of awareness. Additionally, the market will face challenges from a lack of qualified medical professionals, high surgical implant costs, and an absence of a favorable reimbursement environment in developing and underdeveloped economies.
Orthopedic Trauma Devices Market Segmentation
By product type, the market includes internal fixators and external fixators. By end-user, the market includes hospitals, clinics, and orthopedic centers. By material type, the market includes bioabsorbable materials and non-absorbable materials.
Orthopedic Trauma Devices Market Regional Insights
The market for orthopedic trauma devices in North America is anticipated to grow significantly during the research period. The rising use of bioresorbable screws and plates primarily drives North America's requirement for orthopedic trauma treatment goods. Hybrid plate and screw sales in this region are experiencing robust growth, expected to last for the following ten years. Due to the substantial number of cases of long-lasting pain from a wide range of causes, such as low back pain, osteoarthritis, and neck pain, in addition to the aging population, high levels of public awareness regarding illness management and recent product launches in the area.
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The rising cost of R&D, the presence of significant players nearby, and the rise in injuries related to sports are all factors that have contributed to the expansion. The market for orthopedic trauma devices in Asia-Pacific holds the second-largest share. The market in the Asia-Pacific is expected to grow due to several factors, including an upsurge in the proportion of elderly people in Japan and China, an astounding increase in traffic accidents, and the rapid growth of developing economies. Additionally, introducing novel tools for diagnosing and treating orthopedic issues is anticipated to stimulate market expansion.
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