Albany, NY -- (SBWIRE) -- 09/06/2018 -- The global orthopedic trauma fixation device market is progressing at a CAGR of 7.20% within the forecast period from 2014 to 2020. The market was valued at US$6.1 bn in 2014. By the end of 2020, the global orthopedic trauma fixation device market is expected to reach US$9.3 bn, as explained in a research report released by Transparency Market Research. The report titled "Orthopedic Trauma Fixation Devices Market – Global Forecast, Share, Size, Growth and Industry Analysis 2014 – 2020", which is now available on the company website.
According to the report, the primary growth driver of the global orthopedic trauma fixation device market is the increasing number of fractures and spot injuries that are being treated around the world. The market also benefits from the greater expenditure rates in the healthcare industry and a practical lack of alternatives available to this market. All these factors are expected to boost the global orthopedic trauma fixation device market in the coming years.The global orthopedic trauma fixation device market is, however, impeded by factors such as the absence/inadequacy of health insurance in emerging economies, the chances of incurring a double surgery, and the high cost of operation. The report expects these restraints to act on the global orthopedic trauma fixation device market in order to withhold its maximum growth potential.
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The report's segmented analysis of the global orthopedic trauma fixation device market shows that, according to the type of fixator, the current leading segment is internal fixators. This segment is also expected to progress at a 6.80% CAGR within the report's forecast period. Within the segment of internal fixators, the sub-segment of plate and screws is the most commonly utilized one. It is expected to progress at a 7.10% CAGR for the same forecast period.In terms of composition, the global orthopedic trauma fixation device market is currently led by bioabsorbable fixators. This segment is expected to advance at an 8.40% CAGR between 2014 and 2020, owing to the increase in the use of bioabsorbable materials by all key players in the global orthopedic trauma fixation device market.
The geographical segmentation of the global orthopedic trauma fixation device market shows North America to be the leading region for now. The fastest growing region, however, is expected to be Asia Pacific, which is advancing rapidly thanks to the developing nations of Japan, China, and India. Additionally, other nations from South East Asia along with the Eastern Mediterranean are also showing a rapid adoption rate of orthopedic trauma fixation devices.
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The key players in the global orthopedic trauma fixation device market are Zimmer Holding Inc., DePuy Synthes, Stryker Corporation, Smith & Nephew, Johnson & Johnson Company, and Orthofix Holding Inc. The report states that in 2013, 47.30% of the global orthopedic trauma fixation device market was held collectively by the two largest players in the market – DePuy Synthes and Johnson & Johnson.
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