(USA, NY, New York City) The orthopedic trauma devices market 2020 could clock in an approximate growth rate of between 2018 and 2022 (appraisal period), reveals Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
Prime Boosters and Deterrents
Sharp rise in road accidents, sports injuries and fractures are some of the key growth enhancers in the orthopedic trauma devices market. The market for orthopedic trauma devices is also bolstered by the rapidly blossoming geriatric populace and the soaring number of orthopedic diseases worldwide. The well-established local vendors in their respective markets are making strides, in terms of technological innovations and spending on advanced technologies for product manufacturing, which could be conducive for business growth.
Given the notable innovations in 3D printing, the application scope of orthopedics trauma devices has been expanding favorably, leading to rising use of 3D printed implants in the healthcare industry. Top firms are leveraging the 3D printing technology to enhance the integration level between bone and metal, in case of size-controlled micro-pore structured implants, and also for anatomical models and surgical tools.
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Some of the highly eminent firms actively adopting effective strategies to gain a higher impetus in the global market include B. Braun Melsungen AG, Ortho Max Manufacturing Company Pvt. Ltd., Stryker, DePuy Synthes Companies, Invibio (UK), MEDTRONIC, BIOTEK (India), Smith & Nephew, Auxein Medical (India), Johnson & Johnson Services Inc. (US), to mention a few.
The market analysis for orthopedic trauma devices by MRFR considers material type, product type, and end-user as the primary segments.
The orthopedic trauma devices industry, depending on material type, caters to non-absorbable materials, bioabsorbable materials, and more.
The key product types discussed in the report are internal fixator as well as external fixator.
Orthopedic centers, hospitals and clinics, emergency departments, ambulatory surgical centers, and others are the prominent end-users in the orthopedic trauma devices market.
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Globally, North America is expected to occupy the largest market share of global orthopedic trauma devices market and secure its hegemony throughout the forecast term. The soaring utility of bio-absorbable plates can fuel the orthopedic trauma devices market in North America. The region is expected to witness robust sales of hybrid screws and plates that can work in favor of market in years to come. Intramedullary nails are gaining traction in orthopedic surgeries due to their surging popularity as the ideal orthopedic trauma device.
The Asia Pacific region is expected to rise at a healthy CAGR by 2022. The expanding market of orthopedic trauma device in developing nations can be attributed to the flourishing medical tourism. Moreover, the increasing preference for minimally invasive fixation can provide thrust to the rise of the regional market.
In Europe, the market can experience a positive outlook in terms of growth dynamics that be attributed to producers that are consistently investing in research projects and development (R&D) activities to launch innovative and devices with greater efficacy to cater to rising demand. The presence of a large number of R&D activities can ensure several growth opportunities in the forecast term. Moreover, surge in awareness regarding the availability of innovative products can push the market rise in the Europe region.
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