The report " Trauma Fixation Devices " Market by Product (External Fixator Devices, and Internal Fixator Devices), Material (Metallic Implant, Hybrid Implant, Bio Absorbable, Carbon Fibre, Ninitol, Grafts and Orthobiologics), End Users (Hospitals, Orthopaedic surgical centres, Clinics, and Others), & Region (North America, Europe, Asia Pacific, and Rest of the world)- Global Forecast to 2030. "The Global Trauma Fixation Devices Market share was USD 9.42 Billion in 2020. The market is forecasted to reach USD 18.71 Billion by 2030, representing a CAGR of 7.10% throughout the forecasted period.
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KEY FACTORS THAT ARE CONTINUOUSLY AUGMENTING THE MARKET GROWTH
The worldwide market is expected to be driven by increasing demand for trauma fixation devices in hospitals and technological advancements.
By Product, Internal Trauma Fixation devices held the highest share in 2020
Based on Products, the Internal Trauma Fixation devices market held the largest share in 2020 due to a shift in key industry participants' attention to various closure devices. Furthermore, the market's major players are offering a variety of innovative tactics, which is fuelling the market's expansion significantly.
By Material, the “Metallic Implant " accounted for the maximum share of the market in 2020
Based on Material, The Metallic Implant held the largest market share in 2020. It consists of many qualities, such as biocompatibility, superelasticity, fatigue and kink resistance, due to which its demand is increasing rapidly across the globe.
By End Users, the " Hospitals " accounted for the maximum share of the market in 2020
Based on End users, The Hospitals held the largest market share in 2020. Due to the growth of healthcare settings in emerging countries, an overall increase in the number of hospitalizations owing to an increase in the number of traffic accidents and other sports injuries, the number of hospitalizations has increased severely across the globe.
The orthopaedic surgery centres segment, on the other hand, is predicted to develop at the quickest rate because of increased government investments in new orthopaedic surgical centres to provide better medical facilities to the general population.
By Region, the "North America" accounted for the maximum share of the market in 2020
In the Regions segment, North America held the largest portion of the market share in 2020. They are owing to the Region's supporting reimbursement policies in the healthcare system, a larger number of accident cases, and easy access to technological technology. Furthermore, the presence of important competitors in the area is contributing to the market's growth. However, due to the Region's large senior population and high prevalence of road accident injuries, Asia-Pacific is expected to increase at the quickest pace throughout the projection period. Furthermore, increased awareness of improved internal trauma fixation devices, rising healthcare expenditures, improving economic conditions, and technical breakthroughs are expected to drive market expansion throughout the projected period.
SOME OF THE NOTABLE PLAYERS ARE PREVAILING IN THE MARKET.
Some of the leading players in the Trauma fixation devices Market include B. Braun Melsungen AG, Globus Medical Inc., Johnson & Johnson Company (j&j trauma products), Medartis Holding AG, Orthopaedic Implant Company, Osteomed, Smith & Nephew plc., Stryker Corporation, Wright Medical Inc., and Zimmer Biomet, Inc.
Recent Developments: -
In October 2020, The FIBULINK Syndesmosis Repair System was launched in the United States by DePuy Synthes (Johnson & Johnson). The gadget is intended to treat traumatic syndesmosis injuries adequately.
In July 2020, Orthofix's 'JuniOrtho plating system' was approved by the U.S. Food and Drug Administration and the CE Mark. This device is developed for advanced deformity and trauma repair of the lower limbs in paediatric patients.