ID: MRFR/MED/1548-HCR | February 2023 | Region: Global | 90 Pages
Orthopedic Trauma Devices Market is expected to grow at a CAGR of 6.80% during the forecast period 2022-2030.
$9.33 Million
6.80%
North America
2022-2030
The Orthopedic Trauma Devices Market is projected to reach USD 9.33 Million by 2030 at 6.80% CAGR during the forecast period 2022-2030.The orthopedic trauma devices are devices used to treat traumatic orthopedic injuries such as distal radius fracture, stress fractures, rotator cuff tear, shoulder dislocation, meniscus tear, anterior cruciate ligament (ACL) tear, and others. Orthopedic trauma is those conditions related with injuries which usually affect the joints, ligaments, tendons, muscles and another part of the body. These devices are used for the fractures of the skeletal system. These types of injuries pose a life-threatening situation for the patient and in some cases although the person is not in imminent danger but still needs the urgent attention of the doctor. Orthopedic trauma helps in treating injuries whether they are life-threatening or minor bone fractures. These trauma devices are also used in supporting the joints of legs and elbows of aged people so that they can carry out their work smoothly.
COVID-19 ANALYSIS
The coronavirus pandemic has given a very hard time to most of the manufacturing, developing, production, and logistic units of the market. Due to this pandemic situation, restrictions were imposed by the government of different countries. This Covid-19 situation is anticipated to pull down the growth of the orthopedic trauma devices market as there is a decrease in the admission of patients for orthopedic ailments due to restricted movement.
Also with the imposition of lockdown restrictions very few people are going out of their houses and there is a decrease in road accidents which is another factor responsible for the downfall of orthopedic trauma devices market growth. But there is a ray of hope that with the relaxations in lockdown restrictions the orthopedic trauma devices market will recover all its losses within a small period. Soon the market growth will accelerate.
MARKET DYNAMICS
DRIVERS
The rising number of accidents is the key factor that is driving the orthopedic trauma devices market growth. Also, the severe fracture incidences that are occurring at a rate of 75% all around the world are another factor responsible for the orthopedic trauma devices market growth. According to the reports of the Association for Safe International Road Travel (ASIRT), about 20 to 50 million people are injured due to road accidents every day. Also with recent technological advancements, there is a change in procedures of conducting surgeries quickly with very little chance of any side effects. Also, the increased commonness of arthritis among the population is another factor responsible for orthopedic trauma devices market growth.
RESTRAINTS
Orthopedic trauma devices are very expensive, so most people around the world cannot afford them so this factor may hamper the orthopedic trauma devices market growth. Secondly, the lack of awareness among the people about orthopedic trauma device technologies may act as a barrier in the orthopedic trauma devices global market growth. The concept of double surgery is another factor that can hinder the orthopedic trauma devices industry growth to a certain able extent. Lastly, the absence of health insurance policies in developing countries like China and India will hold the orthopedic trauma devices market growth for some time.
TECHNOLOGY ANALYSIS
The orthopedic trauma devices play a major role in surgical treatments of orthopaedic traumatic injuries. Titanium is becoming the choice of surgeons in every region of the world. Also, the decreasing cost of titanium is another factor of it being preferred by most doctors all around the world. The surgical treatment of bone diseases is done by orthopedic implants, devices and instruments made up of DEPUY SYNTHES. Most of the prime players of this market develop, produce and advertise products that are used for surgical fixation, correction, and resurrection of the skeleton and other soft tissues. With the increase in technological advancements, approximately 2.3 million procedures are performed while making use of Orthopaedic Trauma Devices. Most of these procedures are performed in the hip, wrist, ankle, hand, and forearm. Also with an increase in technological advancement in 3D printing due to which reverse shoulder ARTHROPLASTY can be done more precisely
STUDY OBJECTIVES
ORTHOPEDIC TRAUMA DEVICES MARKET SEGMENT OVERVIEW
Orthopedic Trauma Devices market share is anticipated to witness significant growth owing to the performance of different market segments. Among these segments, the plates and screw segment will be the fastest-growing and also contribute towards the Orthopaedic Trauma Devices market more than any other segment. The reason behind it is that these products are used in most orthopedic surgeries and have a high rate of usage. For an amplifying use the Orthopaedic Trauma Devices market is segmented into the following on different bases:
ORTHOPEDIC TRAUMA DEVICES MARKET REGIONAL ANALYSIS
The Orthopaedic Trauma Devices market industry movements are remarkably working in 5 major regions of the world that is North America, Asia Pacific, Africa, South America, and the Middle East. Among all these regions, the North American region will dominate the Orthopaedic Trauma Devices market. The reason attributed to this growth is increasing the number of accidental injuries in this region. Also, the rising adoption of technologically advanced implants and increasing expenditure on healthcare will contribute to the growth of this market in this region. Europe will be the second-largest market of Orthopaedic Trauma Devices industry owing to the increasing health burden of injuries in this region. It is estimated that Europe spends about 80 billion every year on treating injuries and such massive expenditure will influence the orthopedic trauma devices market growth in this region. Due to the increase in the number of elderly people the market of Orthopaedic Trauma Devices in the Asia Pacific region will witness tremendous growth. Africa and the Middle East will have the least share in the Orthopaedic Trauma Devices market due to poor economies and strict government regulations.
ORTHOPEDIC TRAUMA DEVICES MARKET- COMPETITIVE LANDSCAPE
To get a detailed and profound idea about the Orthopaedic Trauma Devices market insights, it is very important to create a competitive environment amongst the different key players at different market locations all around the country. . All the orthopedic trauma devices market players are competing with each other globally in the international markets by implementing various types of strategies such as product launches and upgradations, mergers and acquisitions, partnerships, etc. The prime players of the Orthopaedic Trauma Devices market include:-
RECENT DEVELOPMENTS
INTENDED AUDIENCE
REPORT OVERVIEW
The Orthopaedic Trauma Devices market report presents a shift analysis that includes orthopedic trauma devices market drivers, opportunities, and restraints that are available in the global orthopedic trauma devices market. The report discusses the impact of covid-19 on the key players of the market. The report also tells about the market segmentation on a different basis and how a competitive environment is developed among the key players around the globe. At last, the report presents some recent developments in the field of the Orthopaedic Trauma Devices market.
Report Attribute/Metric | Details |
---|---|
Market Size | USD 9.33 Million |
CAGR | 6.80% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Material Type, Product Type, End-User |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Invibio (UK), BIOTEK (India), DePuy Synthes Companies, Ortho Max Manufacturing Company Pvt. Ltd., Auxein Medical (India), Stryker, Johnson & Johnson Services, Inc. (US), Smith & Nephew, MEDTRONIC, B. Braun Melsungen AG, Zimmer Holding Inc, Integra LifeSciences Corporation, and others. |
Key Market Opportunities | New product launches and R&D Amongst major key Players |
Key Market Drivers |
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orthopedic trauma devices market is projected grow at 6.80% CAGR during the assessment period (2022-2030).
Increasing geriatric populaces, ttechnological advances, and increasing road accidents and sport injuries are the major tailwinds pushing the growth of the orthopedic trauma devices market.
The bio-absorbable materials segment holds the largest share of the orthopedic trauma devices market.
North America holds the largest share in the orthopedic trauma devices market, followed by Europe and the Asia Pacific, respectively.
BIOTEK (India), Invibio (UK), DePuy Synthes Companies, Auxein Medical (India), Ortho Max Manufacturing Company Pvt. Ltd., Stryker, Smith & Nephew, Johnson & Johnson Services, Inc. (US), B. Braun Melsungen AG, and MEDTRONIC, are some of the major players operating in the orthopedic trauma devices market.