Trauma Implants Market Expected to Reach $15.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Trauma Implants Market," The trauma implants market size was valued at $8.4 billion in 2021, and is estimated to reach $15.2 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.

Trauma implants are artificial devices that are used to replace missing joints or provide mechanical support to fractured bone. The orthopedists use artificial implants for hips, knees, and ankle bone deformities, which allow patients to regain full range of motion. Trauma implants are made from metallic materials such as stainless steel, titanium, and cobalt alloys, whereas some are made from bioabsorbable materials such as polylacytic acid (PLA), polyglycolic acid (PGA), and lactic acid-co-glycolic acid. Trauma implants can be temporary or permanent and can be removed after fracture is recovered. Furthermore, they are available in different types such as metallic screws, metallic plates, K-wires, and staples. 

Factors that drive growth of global trauma implants market include technological advancement in trauma implants and availability of advanced medical facilities in developed and developing countries such as U.S., Germany, Japan, and UK. Furthermore, surge in number of cases with extremity fracture due to different accidents and rise in patients undergoing traumatic injury surgeries contribute toward the growth of the global market. In addition, rise in geriatric population is the major factor propelling the growth of trauma implants market. People aged over 60 years are more susceptible to orthopedic disorders, thus being the major user of trauma implants.

Increase in awareness about advanced trauma implants among the healthcare professional is the key factor expected to provide growth opportunities for trauma implants market in developing countries such as China and India. Furthermore, surge in in product approval & product innovation strategies by the key market players such as J&J, Bioretec Ltd, and Stryker Corporation, and rise in R&D activities are some trauma implants market trends which anticipated to provide opportunities for the growth of the market.

However, high cost of surgical treatments and risks associated with the implants such as infection and connective tissue disease negatively affect the trauma implants market growth. For instance, the total cost of care per patient for trauma implant surgery is $35,585.5, which is relatively high.

COVID-19 is an acute disease in humans caused by a coronavirus, which is characterized mainly by fever and cough and is capable of progressing to severe symptoms and in some cases death, especially in older people and those with underlying health conditions. The COVID-19 pandemic has resulted in significant decline in demand for the trauma implants across healthcare sector which negatively impacted growth of trauma implants industry. Furthermore, patients getting treatment for traumatic injuries in hospitals were at risk of infection. This is the major factor for slowed down market growth of trauma implants. However, the market is expected to witness recovery in the forecast period, and show stable growth for trauma implants in the coming future.

Depending on product, screws segment was the major revenue contributor in 2021, owing to rise in demand of metallic screws and increase in surgeries performed for traumatic injuries. However, bioabsorbable fixators segment is expected to register highest CAGR of 6.9% during the forecast period, owing to increased use of bioabsorbable fixators in tibial & femoral fractures repairment and other soft tissue repairment surgeries. Furthermore, increase in R&D activities by market key players to develop inert bioabsorbable fixators propels the growth of the market.

On the basis of material type, metallic biomaterials segment was the major revenue contributor in 2021, owing to various advantages such as inert in nature, high fracture toughness, and corrosion resistance. However, bioabsorbable material is expected to register highest CAGR of 6.9% during the forecast period, owing to radiolucency property of bioabsorbable biomaterials, reduced need for hardware removal. For instance, High Density Polyethylene reinforced with Hydroxyapatite is largely used in manufacturing of bioabsorbable implants.

Region wise, North America has the highest trauma implants market share in 2021, and is expected to maintain its lead during the forecast period, owing to rise in prevalence of road traffic accident cases, availability of reimbursement policies in the region, and increase in demand for trauma implant products. However, Asia-Pacific is expected to register highest CAGR of 7.4% during the forecast period, owing to rise in geriatric population suffering from osteoporosis and other bone related disorders, increase in demand for trauma implant devices, and rise in initiatives taken by government for providing better healthcare facilities.

KEY FINDINGS OF THE STUDY 

• By product, screws segment was highest contributor to the market in 2021.
• On the basis of material type, metallic biomaterials dominated the market in 2021.
• Based on end user, hospitals dominated the market in 2021.
• Based on region North America dominated the market in 2021, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.