According to a new report published by Allied Market Research, titled,"Internal Trauma Fixation Devices Market by Product, Material, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global internal trauma fixation devices market was valued at $7,651 million in 2017 and is expected to reach $12,693 million by 2025, growing at a CAGR of 6.4% from 2018 to 2025.
Internal fixation devices are used in the stabilization of the fractures with the help of devices such as plates & screws, wires, clips & pins, rods & nails, and cables. Increasing road accidents and sports injuries and technological advancement in internal trauma fixation devices are the major factors that drive the growth of the global internal trauma fixation devices. Some of the major factors such as increasing healthcare expenditure and better clinical outcomes boost the market growth. However, complications and allergies associated with the trauma fixation devices are expected to hinder the market growth.
Based on product, the global internal trauma fixation devices market is segmented into closure devices and bone cement. Currently, closure devices segment dominates the market and is anticipated to continue the trend during the forecast period. Closure devices are classified into plates & screws, wires, clips & pins, rods & nails, and cables. Plates & screws segment dominates the closure devices segment during the forecast period.
Based on material, the market is classified into stainless steel, nitinol, titanium, tritium, and polyether ether ketone (PEEK). Presently, stainless steel segment dominates the global market and is expected to remain dominant during the forecast period due to its physical properties such as biocompatibility, easy availability, corrosion resistant, and cost-effectiveness. The demand for nitinol is expected to increase during the forecast period because it is easily adjustable to bone shape and is corrosion resistance.
Based on end user, the global internal trauma fixation devices market is classified into hospital, orthopedic surgical centers, trauma centers, and ambulatory centers. Presently, hospital segment is dominating the global market and is estimated to grow during the forecast period. Whereas, orthopedic surgical center segment is expected to show fastest growth in the market during the forecast period due to growth in the number of orthopedic surgical centers and availability of more skilled professionals.
Key Findings of the Internal Trauma Fixation Devices Market:
- Based on product, the closure device segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 6.7% from 2018 to 2025.
- Based on material, the nitinol segment exhibits fastest growth and is expected to grow at a CAGR of 7.0% from 2018 to 2025.
- Based on end user, the hospital & clinic segment held approximately half of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.3% during the forecast period.
North America accounted for approximately one-half of the global market share in 2017 and is expected to remain dominant throughout the forecast period. This is attributed to the rise in demand for internal trauma fixation devices, increase in number of surgeries, higher number of trained medical professionals, increase in road accidents, and rise in geriatric population. While Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to rise in number of surgeries and increase in adoption of internal trauma fixation devices.
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