PORTLAND, Oregon, December 12, 2018
PORTLAND, Oregon, December 12, 2018 /PRNewswire/ --
Upsurge in global geriatric population, developments in healthcare sector, and increase in technological advancements are expected to boost the growth of the global internal trauma fixation devices market
Allied Market Research recently published a report, titled, "Internal Trauma Fixation Devices Market by Product (Closure Device and Bone Cement), Material (Stainless Steel, Nitinol, Titanium, Tritium, and Polyether Ether Ketone), and End User (Hospital, Orthopedic Surgical Centers, Trauma Centers, and Ambulatory Centers): Global Opportunity Analysis and Industry Forecast, 2018-2025". The report offers detailed analyses of the top investment pockets, drivers & restraints, market size & estimations, key growth strategies, and competitive landscape. According to the report, the global internal trauma fixation devices market was valued at $7.65 billion in 2017 and is estimated to reach $12.69 billion by 2025, registering a CAGR of 6.4% from 2018 to 2025.
Increase in geriatric population worldwide and improvement in healthcare infrastructure drive the growth of the global internal trauma fixation devices market. However, complications associated with such devices and high risk of allergies hamper the market growth. On the contrary, technological advancements are expected to create lucrative opportunities for the market players in future.
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Closure devices segment to present lucrative opportunities by 2025
The closure devices segment held the largest share in 2017, contributing about three-fourths share of the total market revenue. This segment is expected to maintain this trend through 2025, registering the fastest CAGR of 6.7% during the forecast period. This is attributed to the fact that these devices help accelerate the healing process and exhibit fewer complications compared to bone cement. In addition, the bone cement segment is expected to witness gradual growth during the study period.
Stainless steel segment to dominate the global market by 2025
In 2017, the stainless steel segment dominated the global market in terms of revenue, contributing about 43% share. This segment is anticipated to maintain this trend, as they are biocompatible, corrosion-resistant, cost-effective, and bear low risk of infection. However, the nitinol segment is estimated to register the CAGR of 7.0% during the forecast period, as they show shape memory and superelastic property. The other segments analyzed in the report include titanium, tritium, and polyether ether ketone.
Orthopedic surgical centers segment to manifest fastest growth
The orthopedic surgical centers segment is expected to register the fastest CAGR of 7.1% during the study period, because new and latest technology-based devices are present in these centers, which are operated by skilled orthopedic surgeons. However, the hospital segment held the largest share in 2017, contributing about half of the market share, as a wide range of internal trauma fixation devices are available at hospitals.
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North America region to garner largest share through 2025
North America region held the largest share in 2017, contributing about 42% share of the total market, owing to the presence of key market players, high population base, and rise in healthcare spending. However, the Asia-Pacific region is expected to portray the fastest CAGR of 7.3% during the study period, owing to favorable reimbursement policies in the healthcare system, improved awareness about internal fixation devices among healthcare professionals, and availability of trained healthcare personnel.
Major market players
The key market players analyzed in the report, include Stryker Corporation, Zimmer Holdings, Inc., Zimmer Biomet, Inc., Medartis, B. Braun Melsungen AG, DePuy Synthes, Smith & Nephew Plc, Wright Medical Inc., Globus Medical Inc., and Orthopaedic Implant Company.
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