Transparency Market Research Report Added "Osteosynthesis Devices Market" to its database.
Albany, NY -- (SBWIRE) -- 09/10/2015 -- Osteoporosis is a common cause of fractures. It is caused due to bone mass reduction and increased bone fragility. Osteosynthesis is a surgical procedure with a percutaneous approach to the fractured bone. Osteosynthesis devices are used in surgical procedures to treat bone fractures. These devices are obtained in the form of internal or external devices made of either biodegradable or nonbiodegradable materials.
Key Factors Propelling the Market for Osteosynthesis Devices
The market for osteosynthesis devices is expected to rise in the coming years due to the rising demand for better facilities in orthopedic trauma surgeries across the globe. The market is also expected to witness strong growth because of a significant increase in fracture cases expected in the coming years, as a result of increased life expectancy and rise in geriatric population.
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Rising cases of road accidents, coupled with injuries caused due to falls, sports, and violence are boosting demand for osteosynthesis devices in the world. Today, around 75% of fracture cases in the world require surgical treatments for fracture healing caused due to the rise of lower limb fractures in traffic accidents. Increasing prevalence of osteoporosis is the major factor driving the osteosynthesis devices market. Some other factors driving the market are increasing investments by governments and multinational companies in the osteosynthesis devices market and demand for better facilities conducting orthopedic trauma surgeries.
Owing to all these factors, the global osteosynthesis devices market is expected to observe a rise in the near future. Market estimations by Transparency Market Research show that the market for osteosynthesis devices is expected to grow at a 6.2% CAGR between 2015 and 2023 to reach US$11.1 billion by 2023 from a value of US$6.2 billion in 2014.
A large number of failures of surgeries caused due to errors in the diagnosis of the fracture or in the selection of implants or preoperative planning leads to the increasing demand for osteosynthesis devices globally. Such increase in demand for effective medical devices also leads to the need for better trained surgeons and professionals who are able to understand the technical aspects of medical devices and address the growing demand for orthopedic trauma surgeries with effective solutions.
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The U.S. Leads Global Market due to High Adoption of Osteosynthesis Devices among Surgeons
The revenue generated in the U.S. osteosynthesis devices market will rise robustly over the forecast period, driving the North America market. The market for osteosynthesis devices in the U.S. is expected to expand rapidly due to increasing surgeon specialization and rising training initiatives launched by various manufacturers in the U.S. These are some of the major drivers that promote osteosynthesis device adoption among surgeons and medical facilities in the overall region.
North America was the largest market for osteosynthesis devices in 2014. Presently, the market is rapidly growing due to increasing government initiatives, high acceptance of novel technologies, organized reimbursement facilities, and increasing affordability of high-priced devices. Various osteosynthesis device manufacturers are keen to enter the U.S. market because of the cost-effective alternatives available to branded osteosynthesis devices in this region.
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About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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