Global Orthopedic Trauma Fixation Devices Market to Observe Highest Growth in Asian Market: Persistence Market Research
Globally, the orthopaedic trauma fixation devices market are witnessing a significant growth due to increasing in the incidence of fractures cases and increasing demand for the better facility in orthopedic trauma surgeries.
New York, United States – July 20, 2015 /MarketersMedia/ —
A new research study based on the global orthopedic trauma fixation devices market has recently been published by Persistence Market Research. The report gives an in-depth account of the global orthopedic trauma fixation devices market and its essential elements, along with a detailed explanation of how the current and past positions of these market elements shape the overall market.
The report is titled “Global Market Study on Orthopedic Trauma Devices: External Fixator to Witness Highest Growth by 2020”. The report states that the market is expected to grow at a healthy rate, from a net worth of US$5.7 billion in 2013 to US$9.4 billion by 2020, at a 7.2% CAGR.
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The key driving force for the market is the globally rising prevalence of bone fractures and rising demand for convenient and more efficient orthopedic trauma surgery facilities. Other factors such as an overall increase in sports participation across the globe and the rising global population of geriatrics are also proving to be favorable for the growth of this market.
However, the need for double surgery with orthopedic trauma fixation devices, an overall dearth of health insurances in developing countries, and a high cost of surgeries are acting as restraints for the otherwise positive market.
The report primarily segments the global orthopedic trauma fixation devices market into four categories: types of the fixator, type of internal fixator, type of composition of the fixator, and key regional markets.
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Based on the type of fixator, the report states that the market segment of the internal fixator is the largest revenue generator and is expected to grow at a 6.8% CAGR during the report’s forecast. The sub-segment of plate and screw systems is the most commonly used type of internal fixators for trauma fractures. The market for plate and screw systems is expected to rise at a 7.1% CAGR over the report’s forecast.
The regional market of North America is the largest market segment of the global market. However, the global orthopedic trauma fixation devices market is also witnessing tremendous growth in the Asia Pacific regional market. The report states that the global market will witness the fastest growth of all regional segments in Asia over the report’s forecast. Countries such as Japan, India, China, and others in the Eastern Mediterranean and Southeast Asia will prove particularly beneficial for the market over the forecast period.
A number of key businesses in the orthopedic trauma fixation devices market are increasingly investing in the research and development of bioabsorbable trauma fixation devices. The field of bioabsorbable fixation devices is observing significant growth due to the increasing demand for these devices and their market is expected to rise at an 8.4% CAGR during the forecast period.
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Key players operating in the market include DePuySynthes, Orthofix Holding Inc. Stryker Corporation, Smith & Nephew, and Zimmer Holding Inc. Of these, DePuySynthes, a venture of Johnson & Johnson Company is the leading player in the market and had a share of nearly 47.3% of the overall market in 2013.
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Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and a high pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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