May 2020 | Report Format: Electronic (PDF)
The global trauma devices market size is expected to reach USD 11.2 billion in 2025, according to a new report by Grand View Research, Inc., registering a 6.1% CAGR during the forecast period. Increasing incidence of severe fractures and rising expenditure on research and development of trauma devices are among key factors likely to drive the market during the forecast period. Medical devices used for fixation of small bones and joints are categorized under orthopedic trauma.
The market for trauma devices is likely to witness high growth in the coming years due to rising geriatric population and surge in number of road accidents. The market is driven by technological advancements, with key players introducing array of products through extensive research capabilities and expanding their segment portfolio through partnerships with other players.
For instance, in July 2017, Cardinal Health acquired the patient recovery business from Medtronic for USD 6.1 billion. The acquisition helped expand Cardinal Health’s portfolio by adding 23 product categories, including segment leader brands such as Kendall, Curity, Kangaroo, Dover, and Argyle.
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Further key findings from the report suggest:
Rising number of road accidents and increase in expenditure on research and development is expected to drive the trauma devices market from 2018 to 2025
Osteoporotic fractures affect around 8.9 million people every year, mainly menopausal women, and causes osteoporotic fracture in more than 30.0% women over the age of 50
Around 40.0% of trauma injuries occur due to falls and motor vehicle accidents. Elderly population as well as children below the age of 7 are more prone to falls. Motor vehicle accidents account for over 28% of trauma injuries
Internal fixators dominated the market by type in 2017; however, external fixators are anticipated to grow at the fastest rate over the forecast period
Key industry contributors include Depuy Synthes, Stryker; Zimmer Biomet, Smith & Nephew, Wright Medical Group N.V., Advanced Orthopaedic Solutions, Integra LifeSciences, Acumed, Bioretec Ltd., and Cardinal Health.