Albany, NY -- (SBWIRE) -- 11/12/2018 -- Globally, the orthopedic trauma fixation devices market is witnessing significant growth due to increasing incidence of fractures and lack of substitutes. As a result, this market is expected to grow at a CAGR of about 7.2% during 2014 – 2020.
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Some of the key driving factors for the orthopedic trauma fixation devices market are increase in the elderly population, growing healthcare costs, and rising prevention measures for various orthopedic-related problems. Increasing participation in sports and rising number of road accidents are the leading causes for trauma fracture cases. Growing demand for better facilities in orthopedic trauma surgeries, and increasing investments by governments and multinational companies has enabled the growth of the orthopedic trauma fixation devices market. However, the market faces some restraints such as high cost of surgery, lack of awareness, double surgeries, and absence of health insurances in developing countries.
North America, including the U.S. has the largest orthopedic trauma fixation devices market. Asia is the fastest growing orthopedic trauma fixation devices market. Some of the fastest growing markets for orthopedic trauma fixation devices are China, Japan, other countries in South East Asia and the Eastern Mediterranean.
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On the basis of the type of fixator, internal fixators have the largest market share in the orthopedic trauma fixation devices market and are expected to grow at a CAGR of about 6.8% during 2014 – 2020. Plate and screw systems are most widely used internal fixators and the market for the same is expected to grow at a CAGR of about 7.1% during 2014 – 2020. Various orthopedic trauma fixation devices companies are increasing their focus on manufacturing of internal fixators with bioabsorbable material. Market for bioabsorbable fixators is expected to grow at a CAGR of about 8.4% during 2014 – 2020.
DePuy Synthes, a Johnson & Johnson company, is a leading player in the global market for orthopedic trauma fixation, with a share of about 47.3% in 2013. Other major players of orthopedic trauma fixation devices market include Stryker Corporation, Smith & Nephew, Zimmer Holding Inc. and Orthofix Holding Inc.
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