• July 20, 2024

Orthopedic Trauma Devices Market Report Focus On Landscape | Current And Future Development 2023-2030

The global orthopedic trauma devices market size was worth around USD 18.5 billion in 2022 and is predicted to grow to around USD 38.2 billion by 2030 with a compound annual growth rate (CAGR) of roughly 9.5% between 2023 and 2030.

Orthopedic trauma is any severe injury resulting from an external source to the bones, joints, or soft tissue. These injuries are often, but not always, the result of an unplanned incident, like a car crash or a slip and fall.

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Market Overview for Orthopedic Trauma Devices

Harmful consequences can also arise from overuse. For example, long-distance running sometimes causes tibial stress fractures, which are tiny, hair-like breaks in the lower leg. Orthopedic trauma devices are used to repair broken bones and assist in realigning joint surfaces anatomically, which promotes healing and full function recovery of the injured body part. In reconstructive surgery, specific implants, plate systems, screws, and intramedullary nails are among the tools and instruments employed. When making these gadgets, materials like titanium, stainless steel, and others are commonly employed. Polylactic acid and polyglycolic acid are used to treat orthopedic trauma.

Crucial Findings

• Our research analyst’s analysis indicates that during the projected period (2023–2030), the global orthopedic trauma devices market is expected to develop at a compound annual growth rate (CAGR) of about 9.5%.

• The global orthopedic trauma devices market is expected to grow from its estimated USD 18.5 billion in revenue in 2022 to USD 38.2 billion by 2030.

• The world’s orthopedic trauma devices market is anticipated to expand over the forecast period due to the aging population and rising traffic accidents.

➤ Global traffic accident rates are rising, which is driving market expansion

Over the course of the forecast period, the growing number of traffic accidents worldwide is anticipated to fuel the expansion of the orthopedic trauma devices market. As per the report “Road Accidents in India 2021,” there were 4,12,432 road accident occurrences in 2021, leading to 3,84,448 injuries and 1,53,972 fatalities. Furthermore, according to data from the World Health Organization, traffic accidents claim the lives of nearly 1.3 million people each year. Twenty to fifty million more persons suffer non-fatal injuries; many of them go on to become disabled. The market revenue growth during the predicted period is therefore supported by these statistics.

➤ Exorbitant prices and few refunds impede market expansion

Orthopedic trauma equipment can be costly, especially the state-of-the-art implants and instruments. Certain people and healthcare systems might not be able to afford these treatments, particularly in places with little medical resources. Moreover, reimbursement programs might not always cover orthopedic trauma devices in full. This could affect patient affordability and deter medical facilities from deploying the newest, most cutting-edge technology. Therefore, during the projected period, this is anticipated to significantly constrain the expansion of the orthopedic trauma devices industry.

➤ Increasing regulatory approval presents a compelling chance for commercial expansion

Throughout the projected period, the increasing number of regulatory approvals is anticipated to present a compelling potential for the expansion of the orthopedic trauma devices market. The ground-breaking RemeOsTM trauma screw from Bioretec Ltd., for example, received market permission from the FDA in March 2023 and will be used to treat bone fractures in accordance with the results of a clinical research. Leading the way in bioresorbable orthopedic implants is Bioretec Ltd. Bioresorbable metal implants were first released in the United States, which is currently the world’s largest single market for orthopedic trauma goods. Bioretec is the only company that offers these implants. The RemeOsTM trauma screw claims to eliminate the need for implant removal surgery by rendering traditional titanium and steel implants unnecessary. RemeOsTM helps orthopedic clinics meet their operational and healthcare goals while enhancing the value provided to patients with ankle fractures. therefore promoting the expansion of the market.

➤ Strict regulatory approval hinders the expansion of the market

It may need a considerable amount of time and money for devices for orthopedic trauma to obtain regulatory clearance. Manufacturers have to follow stringent guidelines and undergo extensive testing before their products can be sold, which might cause delays in the launch of new products. Therefore, a significant obstacle to the market’s expansion over the projection period is the strict regulatory approval.

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The Global Orthopedic Trauma Devices Market is segmented based on product, application and region

Global Orthopedic Trauma Devices Market: Product Segment Analysis

● Internal Fixators
● External Fixators

Global Orthopedic Trauma Devices Market: Application Segment Analysis

● Hospitals
● Ambulatory Centers
● Orthopedic & Trauma Centers
● Others

The global Orthopedic Trauma Devices market is dominated by players like:

● B. Braun Melsungen AG
● Stryker
● Smith & Nephew plc
● Medical Devices Business Services Inc.
● Zimmer Biomet
● CONMED Corporation
● Citieffe s.r.l.
● Acumed LLC
● Integra LifeSciences Corporation
● Orthofix Holdings Inc.
● Biotek
● Wright Medical Group N.V.
● Invibio Ltd
● Auxein Medical
● Medtronic
● NuVasive Inc

➤ Over the course of the projected period, North America is anticipated to lead the market growth

During the projected period, North America is anticipated to hold a dominant position in the worldwide orthopedic trauma devices market. Over the course of the projection period, the market will develop due to an increase in elderly patients as well as an increase in the prevalence of osteoporosis and other bone illnesses. 12.3 million Americans over 50 are expected to have osteoporosis in 2020, which is expected to drive market increase throughout the course of the projection period. The Journal of the American Medical Association, or JAMA, is the source of this prognosis. Furthermore, according to a May 2020 report from the Centers for Disease Control and Prevention, unintentional injuries resulted in 39.5 million doctor visits, 29.4 million ER visits, and 169,936 annual fatalities in the US. It is therefore expected that the previously described characteristics would keep growing as the industry expands.

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