Trauma Products Market Revenue Growth Driven by Increasing Investments in Development of Advanced Medical Devices: Reports and Data
Surge in geriatric population, rising prevalence of degenerative bone disorders such as rheumatoid arthritis and osteoarthritis, and growing preference for minimally invasive surgical procedures are among the key factors expected to drive market revenue growth
New York, December 16, 2021 – Reports and Data has published its latest report titled “Trauma Products Market, By Type (External Fixators, Internal Fixators), By Surgical Site (Lower Extremities, Upper Extremities), By End-use (Hospitals & Trauma Centers, Ambulatory Surgery Centers), and By Region, Forecast to 2028”
According to the latest report by Reports and Data, the global trauma products market size was USD 5.01 Billion in 2020 and is expected to reach USD 9.41 Billion in 2028 and register a revenue CAGR of 8.1% during the forecast period, 2021-2028.
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Drivers, Restraints, and Opportunities:
Revenue growth of the global trauma products market is majorly supported by factors such as rising geriatric population worldwide, increasing prevalence of degenerative bone diseases including rheumatoid arthritis and osteoarthritis, growing preference for minimally invasive surgical procedures, and technological advancements in trauma products. Rising awareness of the benefits of trauma products, increasing investments by governments and medical device manufacturers in development of advanced surgical equipment, and growing healthcare expenditures of individuals are some of the other key factors that are expected to boost the global trauma products market revenue growth over the forecast period.
Trauma refers to physical or mental trauma caused by sudden accidents and fatal physical injuries such as fractures, sprains, burns, dislocations, and strains. Traumatic injuries require immediate medical attention and are treated using various trauma products. Trauma products are generally categorized into external fixators and internal fixators. External fixators include unilateral, circular, and hybrid fixators; while, internal fixators include nails, screws, pins, plates, and staples. All these devices are widely used in surgical procedures to stabilize and connect broken or fractured bones. Increasing incidences of traumatic injuries due to road accidents or fatal falls, growing rate of hospital admissions, increasing use of highly advanced trauma products in hospitals, ambulatory surgical centers, and trauma centers, and rapidly advancing healthcare infrastructure are factors expected to further drive the global trauma products market revenue growth.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Internal Fixators Segment to Lead in Terms of Fastest Revenue CAGR:
Based on type, the global trauma products market is primarily segmented into external fixators and internal fixators. The internal fixators segment – which is sub-segmented into plates, screw, nails, pins, and staples – is expected to register the fastest revenue growth rate in the global market over the forecast period. Rising geriatric population globally, growing cases of degenerative bone disorders such as rheumatoid arthritis and osteoarthritis, and increasing use of technologically enhanced internal fixators in surgeries are key drivers for the growth of this segment.
Segment Accounted for Significant Revenue Growth in 2020:
Based on end-use, the global trauma products market is segmented into hospitals & trauma centers, ambulatory surgery centers, and others. The hospitals & trauma centers segment accounted for the largest revenue share in the global market in 2020, owing to factors such as increasing establishment of private hospitals in developed and developing countries around the world, rising incidences of traumatic injuries caused by fatal accidents, growing preference for minimally invasive surgical procedures, and increasing patient pool.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America trauma products market dominated other regional markets in terms of revenue share in the global market in 2020. Rising prevalence of degenerative bone disorders, increasing cases of traumatic injuries due to accidents or fatal falls, rapid adoption of advanced trauma products, and presence of state-of-the-art healthcare infrastructure in the region are major factors boosting revenue growth of the regional market.
Major Companies in the Global Trauma Products Market Include:
- Acumed LLC
- Arthrex Inc.
- B. Braun Melsungen AG
- Citieffe s.r.l.
- CONMED Corporation
- DePuy Synthes
- Double Medical Inc.
- Integra LifeSciences Corporation
- Orthofix Holdings Inc.
- Smith & Nephew
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For the purpose of this report, Reports and Data has segmented the global trauma products market based on type, surgical site, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- External Fixators
- Internal Fixators
Surgical Site Outlook (Revenue, USD Billion; 2018-2028)
- Lower Extremities
- Hip & Pelvic
- Lower Leg
- Foot & Ankle
- Upper Extremities
- Hand & Wrist
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals & Trauma Centers
- Ambulatory Surgery Centers
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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