DUBLIN, Oct. 17, 2023 /PRNewswire/ — The “Trauma Fixation Device Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
The global Trauma Fixation Devices Market is projected to achieve a substantial valuation of USD 12.42 billion by 2030, driven by the increasing prevalence of musculoskeletal disorders and a growing geriatric population. Trauma fixation devices, a crucial component of trauma care, play a vital role in the treatment of bone fractures and tissue degeneration.
Key Market Drivers:
- Musculoskeletal Disorders: Leading contributor to disability, affecting around 1.71 billion people globally.
- Osteoporosis: Over 8.9 million fractures related to osteoporosis occur annually.
- Road Traffic Injuries: Road accidents are the leading cause of fatalities in the 5-29 age group.
Trauma Fixation Devices Market to Grow at a CAGR of 6.12% from 2022 to 2030
Musculoskeletal conditions, including osteoporosis, osteoarthritis, and rheumatoid arthritis, are a significant source of disability, impacting approximately 1.71 billion individuals worldwide, as reported by the World Health Organization (WHO). Osteoporosis alone leads to over 8.9 million fractures annually, with approximately 1 in 5 men and 1 in 3 women over 50 at risk of fractures due to weakened bones. Osteoporosis, characterized by a loss of bone mass, results in weaker and more fracture-prone bones.
Additionally, road traffic injuries are a major cause of concern, with road accidents being the leading cause of fatalities among individuals aged 5-29 years. These incidents often result in bone fractures and dislocations, necessitating the use of trauma fixation devices for the repair of bone-related deformities.
Geriatric Population Fuels Demand
The rising global geriatric population is prone to various bone-related issues and degenerative bone diseases. According to the United Nations, in 2021, there were approximately 761 million people aged 65 and above worldwide, and this number is expected to double, reaching over 1.6 billion over the next three decades. The elderly are more susceptible to developing degenerative bone problems, making trauma fixation devices crucial in their care.
Technological Advancements Drive Market Growth
Advancements in trauma fixation device technology provide individuals with greater mobility, dexterity, and functional capabilities. These innovations have reduced the need for removal surgery and long-term interference with bones, muscles, and tendons. The commercialization of technologically improved trauma fixation devices has increased their demand among consumers, with technological progress being a significant driver of market demand. The global trauma fixation devices market was valued at USD 7.72 billion in 2022.
Internal Fixators Lead the Market
Trauma Fixation Devices are categorized into External Fixators, Internal Fixators, and Others by product type. Internal fixators, which play a crucial role in orthopedic and trauma surgeries for stabilizing bones and tissues, dominate the trauma fixation devices market. Specialized and highly effective fixators have been developed for various medical conditions, contributing to this dominance.
Additionally, an aging population and an increase in sports-related injuries are driving demand for orthopedic procedures, strengthening the orthopedic trauma fixation devices market. Furthermore, the emphasis on minimally invasive surgery has increased the adoption of fixators due to faster, less invasive procedures. This segment is likely to maintain its influential position as healthcare continues to evolve.
Titanium Emerges as a Dominant Material
In terms of material, the Trauma Fixation Devices Market is divided into Stainless Steel, Titanium, and Others. Titanium is poised to dominate the market for trauma fixation devices. Its remarkable characteristics, including biocompatibility, corrosion resistance, and a remarkable strength-to-weight ratio, make it the preferred choice for orthopedic and trauma implants. Faster recovery and reduced complications further enhance its growth prospects. The aging population and increased traumatic injuries also drive demand for titanium-based trauma fixation devices.
Rapid Growth in Ambulatory Surgery Centers
By end-users, the Trauma Fixation Devices Market is categorized into Hospitals, Special Clinics, and Ambulatory Surgery Centers. Ambulatory surgery centers are expected to experience rapid growth during the forecast period. These centers exemplify fast and efficient care delivery as healthcare undergoes significant transformations.
The shift toward outpatient procedures, driven by efficiency, convenience, and cost-effectiveness, is a key driver of this trend. Advances in medical technology and minimally invasive techniques have expanded the range of procedures feasible in ambulatory surgery centers. Additionally, the global focus on cost-effective, high-quality care is fueling the increased utilization of ambulatory surgery centers.
United States Leads the Market
The Trauma Fixation Devices Market is segmented by countries, including the United States, Canada, Mexico, Germany, the United Kingdom, France, Italy, Spain, Switzerland, Japan, China, India, Australia, South Korea, Brazil, Argentina, Saudi Arabia, South Africa, the United Arab Emirates, and the Rest of the World. The United States holds a dominant position in the market, driven by advanced medical technology, an aging population, and a strong focus on research and development in the healthcare sector.
Approximately 37,000 annual deaths and 2.35 million injuries in the U.S. result in demand for trauma fixation devices. Degenerative bone diseases, affecting over 50% of U.S. residents aged 65 and above, further contribute to market growth. By 2040, an estimated 26% of U.S. adults are projected to have arthritis. The well-established healthcare infrastructure and competitive landscape in the U.S. create growth opportunities for trauma fixation devices. Supported reimbursement programs also add to the market’s potential.
- Zimmer Biomet
- Orthofix Medical Inc
- B. Braun Meslungen AG
- Smith & Nephew
- Integra LifeSciences
The Trauma Fixation Devices Market is poised for significant growth as it continues to address the needs of an aging population and individuals with musculoskeletal disorders. Technological advancements and innovative approaches in trauma care are expected to shape the future of this market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. Global Trauma Fixation Device Market
6. Market Share Analysis – Global Trauma Fixation Device Market
6.1 By Products
6.2 By Material
6.3 By End User
6.4 By Countries
7. Product – Global Trauma Fixation Device Market
7.1 External Fixators
7.2 Internal Fixators
8. Material – Global Trauma Fixation Device Market
8.1 Stainless Steel
9. End User – Global Trauma Fixation Device Market
9.2 Special Clinics
9.3 Ambulatory Surgery Centers
10. Countries – Global Trauma Fixation Device Market
11. Porter’s Five Forces Analysis – Global Trauma Fixation Device Market
12. SWOT Analysis – Global Trauma Fixation Device Market
13. Key Players
For more information about this report visit https://www.researchandmarkets.com/r/q6r5pi
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Originally published at https://www.prnewswire.com/news-releases/internal-fixators-take-center-stage-in-the-global-trauma-fixation-devices-market-offering-vital-support-in-orthopedic-and-trauma-surgeries-301959053.html