Internal Trauma Fixation Device Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product, Material and End User : Global Opportunity Analysis and Industry Forecast, 2020-2027

Internal Trauma Fixation Device Market Overview:

The global internal trauma fixation device market size was valued at $8,800.00 million in 2019, and is projected to reach $12,727.54 million by 2027, growing at a CAGR of 4.9% from 2020 to 2027. 

Internal trauma fixation devices are used for fixing and stabilizing serious bone dislocation and fractures. There are two types of fixation devices, which are internal and external. Internal fixation devices are implemented inside the human body and are used to provide proper shape to the broken bone of the patient and to maintain the bearing load of the patient in the recovery phase. 

External fixation devices are hardware components, which are used by different components such as bolts and wires to support and secure the underlying bone. Furthermore, internal trauma fixation devices assist in faster bone healing and improper bone recovery. These devices accelerate the bone fixation process by restricting the movement of fractured bones. Internal trauma fixation devices are manufactured from alloy of steel, nickel, or titanium. These devices are safe as these are corrosion resistant and adjustable to the bone structure.

The internal trauma fixation device market is expected to witness a significant growth during the forecast period. The growth can be attributed to factors such as rise in incidences of orthopedic diseases coupled with growth in ageing population and upsurge in incidences of sport injuries, road accident injuries, and surge in prevalence of diseases, such as osteoporosis. In addition, improved healthcare facilities across the globe propels the growth of the market. However, dearth of skilled labors and high cost associated with orthopedic implants procedure hampers the growth of the market. Furthermore, high market potential in the emerging economies is expected to offer remunerative opportunities for the expansion of the market during the forecast period. 

Global Internal Trauma Fixation Device Market Segmentation  

The internal trauma fixation device market is segmented on the basis of product, material, end user, and region. Depending on product, the market is divided into closure devices and bone cement. The closure devices segment is further sub-segmented into plates & screws, wires, clips, pins, and cables. The materials covered in the study include stainless steel, nitinol, titanium, tritium, and polyether ether ketone (PEEK). On the basis of end user, the market is fragmented into hospitals, orthopedic surgical centers, trauma centers, and ambulatory surgery. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment Review

On the basis of product, the closure devices segment acquired major share of the internal trauma fixation device market and is expected to experience rapid growth during the forecast period, owing to growth in focus of major industry players on various closure devices. In addition, the key players of the market are introducing various new strategies in the market, which is further driving the growth of the market

By material, the stainless steel segment dominated the market, owing to various remarkable properties over other materials. However, the nitinol segment is expected to grow at the fastest rate during the forecast period, owing to its varied features such as biocompatible, super elasticity, and fatigue and kink resistance, which propel the growth of the internal trauma fixation device market. 

By end user, the hospitals segment dominated the market, owing to development of healthcare settings across emerging economies and overall increase in number of hospitalizations due to rise in number of road accidents and other sports injuries. However, the orthopedic surgical centers segment is expected to grow at the fastest rate during the forecast period, owing to increase in investment by the government of respective countries to open new orthopedic surgical centers to provide public with better medical facility.

In 2019, North America acquired a major share of the market, owing to supportive reimbursement policies in healthcare system, higher number of accident cases, and easy accessibility to advanced devices in the region. In addition, presence of key players in the region also supplements the growth of the market. However, Asia-Pacific is expected to grow at the fastest rate during the forecast period, due to presence of high geriatric population base and high rate of road accident injuries in the region. In addition, increase in awareness associated with advanced internal trauma fixation devices, rise in healthcare expenditure, developing economic condition, and technological advancements are anticipated to boost the growth of the market during the forecast period.

The global internal trauma fixation device market is highly competitive and prominent players have adopted various strategies to garner maximum market share. These include collaboration, product launch, partnership, and acquisition. 

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the global internal trauma fixation devices market along with the current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analysis on the internal trauma fixation device market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the internal trauma fixation device industry.
• The quantitative analysis of the global internal trauma fixation devices market for the period 2020–2027 is provided to determine the market potential.

  Internal Trauma Fixation Device Market Report Highlights

Aspects	Details
By PRODUCT	Closure device Plates and screws Wires Clips Pins Cables Bone cement
By Material	Stainless steel Nitinol Titanium Tritium Polyether ether ketone (PEEK)
By END USER	Hospitals Orthopedic Surgical Centers Trauma Centers Ambulatory Centers
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, UK, France, Italy, Spain, Rest of Europe) Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific) LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Key Market Players	OSTEOMED, MEDARTIS, ORTHOPAEDIC IMPLANT COMPANY, JOHNSON & JOHNSON (DEPUY SYNTHES), WRIGHT MEDICAL GROUP N.V., STRYKER CORPORATION, B. BRAUN MELSUNGEN AG, .GLOBUS MEDICAL, INC., ZIMMER BIOMET HOLDINGS, INC., SMITH & NEPHEW PLC.

Analyst Review

According to the analyst, the global internal trauma fixation device market is expected to be negatively impacted by COVID-19 pandemic as majority of hospitals are in the process of postponing trauma-related surgeries. However, the adoption of internal trauma fixation devices is expected to increase during the forecast period, owing to advancements in surgical options and rise in incidence rate of spinal impairments globally. The spinal implants and devices market have piqued the interest of healthcare professionals, owing to increase in use of these devices for treatment of spinal deformities.

The analyst further added that North America is expected to remain dominant during the forecast period due to surge in use of internal trauma fixation devices, owing to presence of advanced healthcare facilities and higher number of target population. In addition, Asia-Pacific and LAMEA are expected to offer lucrative opportunities to the key players during the forecast period due to developments in healthcare infrastructure with rise in demand for internal trauma fixation devices market.

North America was the leading revenue contributor to the global trauma fixation device market in 2019, and is anticipated to continue this trend during the forecast period, due to high demand for advanced healthcare services, owing to the presence of well-developed healthcare infrastructure and large reimbursement coverage of trauma treatments, which has fueled the adoption of trauma surgeries. However, Asia-Pacific and LAMEA are expected to experience high CAGR during the forecast period, due to increase in metabolic disorders, high population base, rise in disposable incomes, and improvement in patient awareness, regarding the adoption of trauma fixation device devices products.

Author Name(s) : Ravi Kiran | Roshan Deshmukh

Related Tags

• Surgical Equipment
• Biomaterials
• Implantable Devices
• Surgery Supplies