Orthopedic Trauma Devices Market Insights 2023 Trends, Opportunity Assessment And Industry Overview And Forecast 2030 |MRFR
Orthopedic trauma devices market insights and growth analysis by material typep, product type, End-User- forecast till 2030. The orthopedic trauma devices market 2023 could clock in an approximate growth rate of 6.8% between 2022 and 2030 (appraisal period), reveals Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
Prime Boosters and Deterrents
The steep rise in auto accidents, sports injuries, and fractures are some of the main driving factors in the orthopedic trauma devices market. Other drivers of the orthopedic trauma device market are the world's growing older population and the rising prevalence of orthopedic diseases. In their respective industries, the well-known local vendors are expanding technologically and making investments in cutting-edge manufacturing technologies, which might be advantageous for business expansion.
Given the notable innovations in 3D printing, the application scope of orthopedics trauma devices has been expanding favorably, leading to rising use of 3D printed implants in the healthcare industry. Top firms are leveraging the 3D printing technology to enhance the integration level between bone and metal, in case of size-controlled micro-pore structured implants, and also for anatomical models and surgical tools.
One of the fastest-emerging developments in the orthopedic trauma implants market is smart-sensor technology, which helps address the problem of periprosthetic infection, which has been on the rise all over the world. The orthopedic trauma implants industry has seen tremendous interest in robotic technologies because they enable performing procedures with higher smaller incisions and reproducible precision. Collaborations between leading companies that concentrate on the robotic trend and try to take advantage of the prospects in this space could further spur market expansion for orthopedic trauma devices.
To cite an instance, in September 2020, Total Joint Orthopedics collaborated with THINK Surgical Inc., an orthopedic robot technology vendor, to develop software that involves TJO’s Klassic Knee System being implanted with the use of THINK’s TSolution One Total Knee Application. This move can help both the companies boost their portfolio of robotic options catering to orthopedic surgeons in the United States.
Eminent Firms
Some of the highly eminent firms actively adopting effective strategies to gain a higher impetus in the global market include B. Braun Melsungen AG, Ortho Max Manufacturing Company Pvt. Ltd., Stryker, DePuy Synthes Companies, Invibio (UK), MEDTRONIC, BIOTEK (India), Smith & Nephew, Auxein Medical (India), Johnson & Johnson Services Inc. (US), to mention a few.
Segmental Insight
The analysis of orthopedic trauma devices market trends by MRFR considers material type, product type, and end-user as the primary segments.
The orthopedic trauma devices industry, depending on material type, caters to non-absorbable materials, bioabsorbable materials, and more.
The key product types discussed in the report are internal fixator as well as external fixator.
Orthopedic centers, hospitals and clinics, emergency departments, ambulatory surgical centers, and others are the prominent end-users in the orthopedic trauma devices market.
Regional Study
The regional study of the global market comprises North America, Asia Pacific/APAC, MEA/Middle East and Africa and Europe.
North America is the most lucrative market, and the considerable growth is the result of the alarming rise in road accidents and injuries across the United States. The region witnesses strong sales of hybrid screws and plates, which can continue to grow throughout the coming decade. Intramedullary nails are also garnering high traction among several orthopedic surgeons as these are considered to be effective orthopedic trauma devices with expanded applications in numerous anatomies.
Europe is the second highest gainer in the orthopedic trauma devices market, thanks to the significant burden of injuries, which are mostly sports related. The European market also gets a boost from the surge in innovative and personalized 3D-printed orthopedic implants that are integrated with advanced assistive imaging techniques and their mounting uptake in the healthcare sector.
The APAC market remains one of the strongest performers, since the region is observing a fast growth in the geriatric population. Rapid advances in technology, rising urbanization, and growing expertise associated with technologically superior medical devices also contribute to market growth in the region. APAC is known for being a thriving medical tourism hub, which can continue to work in favor of the orthopedic trauma devices market, especially in India. On the other hand, the Chinese market can gain significantly from the soaring demand for minimally invasive fixation and the increasing popularity of the robotics technology in orthopedic surgeries.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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