The global trauma and extremities devices market size is expected to reach USD 17.9 billion by 2026
NEW YORK, Aug. 26, 2019 /PRNewswire/ --
Trauma And Extremities Devices Market Size, Share & Trends Analysis Report By Type (Internal Fixation, External Fixation, Craniofacial Devices, Long Bone Stimulation), By Region, And Segment Forecasts, 2019 - 2026
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The global trauma and extremities devices market size is expected to reach USD 17.9 billion by 2026, according to the report. It is anticipated to expand at a CAGR of 7.7% during the forecast period. Rising geriatric population along with the prevalence of target diseases such as osteoporosis is anticipated to propel the growth. Introduction of new technologies in terms of material and technique and the non-invasive nature of the employed material is augmenting the demand. In July 2016, DePuy Synthes launched a new hand locking system used for deformities and fracture fixation. This device is designed to reduce soft tissue irritation and facilitate healing.
Moreover, companies are investing in new product development, which is anticipated to aid the market growth.In 2015, Smith & Nephew invested USD 222 million on research and development, yielding a promising product pipeline for 2016.
It has already launched a new product, SUTUREFIX, a suture anchor in February 2015. The product is expected to improve hip and shoulder repair by providing additional fixation points.
The trauma and extremities device market is led by few players, while local implant manufacturers share the remaining market. DePuy Synthes, Stryker, Zimmer Biomet, and Medtronic and others are key players while Advanced Orthopedic Solutions, Emerge Medical, and Bioretec Ltd. are the emerging players in this vertical.
In 2018, internal fixation led the market owing to the advantages associated with the devices such as sorter hospital stay, lesser scars, and skin pressure, early functionality achieved in patients, and lesser risk of nonunion and malunion of bones.Industry players are adding new products with better functionality, which replicate the native anatomy, enhancing both, functionality and durability.
In July 2016, the Acumed's wrist fixation implants, Acu-Loc and Acu-Loc 2, reached a worldwide sales milestone of 0.5 million in 2 years. This indicates the high demand for internal fixation devices, which is expected to witness growth over the forecasted period.
Amongst internal fixation methods, plates and screws are the most popular owing to the less blood loss involved and shorter operative time.This segment is expected to witness growth owing to the focus of companies on integrating different tools into one system.
For instance, in July 2016, DePuy launched its locking hand system comprising 40 basic and specific plates for different cases of hand fractures. This aids the surgeons in adjusting the insertion specific to the patient's bone anatomy to provide more stability.
Further Key Findings from the Report Suggest:
• Internal fixation dominated the trauma and extremities device market in 2018 due to the advantages associated with these devices such as lesser scars and reduced hospital stay, and lesser risk of nonunion and malunion of bones
• In 2018, North America held the leading market share of more than 45%. The Affordable Care Act includes a separate grant for trauma care. Though this fund was discontinued in 2006, it was reauthorized in 2014 and set to an annual USD 12 million. The fund allocation aimed at improving trauma care centers in terms of access and quality, especially in the rural areas
• Some of the key players are DePuy Synthes, Stryker, Zimmer Biomet, Smith & Nephew, Wright Medical Group N.V., Advanced Orthopedic Solutions, Integra Lifesciences, Acumed, Bioretec Ltd., Cardinal Health. They focus on growth strategies such as launch of new products, partnerships, new approval, and mergers & acquisitions
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