According to Acumen Research and Consulting, the global trauma and extremities market size is poised to reach around US$ 18.6 billion by 2026 at noteworthy CAGR around 7.5% throughout the forecast period 2019 to 2026.
Various easy and complicated devices and devices for trauma and limits grow at a significant speed. Injury accounts for 16% of the disease burden worldwide, according to the World Health Organization (WHO). A number of occurrences include injuries at work, accidents, sport injury, harassment, robbery, and mentally intrusive thoughts lead to psychological disorder. The trauma and extremities market are expected to be driven by factors such as an increase in accident amount, an increase in the amount of sports associated injuries, changes in the way of life and development of geriatric populations. The WHO reports that every day 16,000 individuals are killed by accidents. Other variables driving the global trauma and extremity market are technological progress and public reimbursement policies.
The report provides analysis of global Trauma and Extremities market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
The World Health Organization (WHO) has a significant role to play in addressing these problems: promoting cost-effective improvements of injury care ; improving and standardizing injury supervisory systems ; promoting violent, trafficking and other significant injury policy initiatives such as sports damage. The market is motivated by a drastic increase in geriatrics around the world and an alarming increase in road crashes. The increasing demand for fracture fixators is anticipated to lead to severe instances of fracture arising from fall and disruption amongst the elderly population.
Around 40% of trauma injuries are caused by falls and accidents in motor vehicles. Senior citizens and kids less than seven years of age are more likely to drop. Over 28% of trauma injuries have been caused by motor car crashes. This is an important factor for the worldwide economy. Technological advances also drive the market; leading players introduce products by comprehensive study capacities and expand their segment portfolio through partnerships with others. In particular in middle-income nations, the incidence of diabetes is projected to grow rapidly. Other complications, including diabetic footing, also affect a wide range of patients with diabetes. Nearly 7% of diabetics have diabetic footing every year and 20% of them are hospitalized. This increases its popularity, diabetic foot is controlled by internal fixators.
Internal fixators held majority of the market in terms of revenue in 2017. Demand for internal fixators is rising owing to less scarring and bruising, shorter hospital stay and early functionality for patients. During the forecast period, the external fixators section should record the greatest increase. The external fixator stabilises the damaged bones and thus speeds up the process of healing. The therapy of open fractures is usually carried out. In addition, for childhood fractures the external fixators are preferable as continuous inner fixators in increasing bones are not feasible.
External fasteners allow skeletal alignment by offering structurally deficient bones with mechanical stability. The increase in diabetic foot incidence is anticipated to lead to a rise in internal fixator demand. Due to the reduced cost of the equipment and the benefits of such as fewer scars, wide indication and a lack of casts and broken blisters, internal fixation in 2018 retained the biggest market share. For inner fasteners, the material is durable, non-corrosive and stable. The CT scanos and the MRI scans are also compatible. With the industry actors introducing fresh products to cater to the increasing demand, the use of bone grafts is also increased. A second US confirmation was received from Medtronic in June 2016. FDA for INFUSE bone graft, initially authorized in 2013. At the end of 2015, it had reached net revenues of USD 1 billion and was approved by the FDA for two additional indications.
Increasing population ageing and technological development in North America dominates the trauma and extremity markets. Europe and Asia Pacific follow the North American market. As research and development activity and knowledge of healthcare among individuals grow, Europe is an important market for trauma and extremities. Increased population growth, an increase in healthcare spending and increased per-capita consumption are projected to boost Asia Pacific. The trauma and extremity market are expected to boost these factors. The development of the market growth of pressurized adhesives in the forecast period could hamper increased prices for raw materials such as acrylate, silicon, rubber and other chemical products. Some raw materials are products obtained from petroleum; therefore price fluctuations are also affected. Because of greater accidents, favourable demographics and better access to care, developing nations such as Brazil, South Africa and Mexico are expected to give them excellent chance for the development of trauma and extremities on their markets. In low-and middle-income nations, the burden of disability and injury death is particularly noteworthy. To date, the world's injury burden has been in developing nations around 90 percent.
In the forecast era, Asia Pacific is anticipated to be the most profitable segment, with India expected to pioneer development. Rising geriatric population in Japan and China, alarming increases in road accidents and quickly developing economies will encourage the Asia-Pacific market. The requirement for operational plugs for bariatric and other minimally invasive surgeries in that region is primarily motivated by health tourism. The increased amount of road accidents is the main driver of regional development. Better healthcare reforms and financial circumstances make high demand easier. Furthermore, producers are obliged to provide bio-compatible implants that are anatomically closer to their indigenous structures.
Global Trauma and Extremities Market, By Composition
Global Trauma and Extremities Market, By Type
Global Trauma and Extremities Market, by Geography
The market research study on “Trauma and Extremities Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Trauma and Extremities market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
The Trauma and Extremities market consists of key vendors such as Dow DePuy Synthes; Wright Medical Group, Inc., Koninklijke Philips N.V.;Boston Scientific Corporation; Braun Melsungen AG; Stryker Corporation; Stryker; Zimmer Biomet; GE Healthcare; Zimmer Biomet Holdings, Inc.; Johnson & Johnson Services, Inc.; Becton, Dickinson and Company; Siemens; Cardinal Health; and Abbott. They offer a broad variety of products with custom fasteners and durable materials. Vertical operations in latest years have been dynamically merged and acquired. This adds to the big portion of the few giants in the sector.
One of the main market growth factors is new product development. Industry players invest in the development of research and development and introduce fresh and enhanced products with better material and easy operation.