Trauma Fixation Devices and Equipment Market 2020 Strategic Assessments – Zimmer Biomet Holding Inc., Stryker Corporation, DePuy Synthes, Medtronic Plc and Smith & Nephew
Harrisburg, NC -- (SBWire) -- 10/20/2020 --The Trauma Fixation Devices And Equipment Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The global trauma fixation devices and equipment market was valued at about $5.4 billion in 2018 and is expected to grow to $6.29 billion at a CAGR of 3.9% through 2022.
The trauma fixation devices and equipment market consists of sales of trauma fixation devices and equipment and related services. Trauma fixation devices and equipment are used in the treatment of patients suffering from physical trauma. They include internal fixation devices (plates and screws, intramedullary nails, compression hip screws, and cannulated screws) and external fixation devices (unilateral fixation, circular fixation, and hybrid fixation devices).
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Trauma Fixation Devices And Equipment Market: Zimmer Biomet Holding Inc., Stryker Corporation, DePuy Synthes, Medtronic Plc and Smith & Nephew.
Industry News and Updates:
Zimmer Biomet Exhibits Product and Service Innovations at AAOS 2018
03.07.18: Zimmer Biomet Holdings Inc., a global leader in musculoskeletal healthcare, is showcasing its latest commercial offerings and previewing its next generation of technological innovations at the American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting this week in New Orleans, La.
"Zimmer Biomet has the most expansive and comprehensive portfolio of products and services in the industry," said Bryan C. Hanson, president and CEO of Zimmer Biomet. "We're looking forward to showcasing our innovative commercial offerings and connecting with orthopaedic professionals from around the world at AAOS."
The nSTRIDE APS Kit (ex-U.S. use only) is designed to produce a novel autologous therapy to treat pain and slow the progression of cartilage degradation and destruction in the knee. The nSTRIDE APS Kit is a cell-concentration system, which concentrates anti-inflammatory cytokines and anabolic growth factors to significantly decrease pain and promote cartilage health. The U.S. launch of Biomet and Refobacin Bone Cement R offerings built upon more than 30 years of successful clinical heritage,i offering high viscosity cement solutions that handle with ease in modern vacuum mixing systems.
Key Market Trends
In 2018, North America was the largest region in the trauma fixation devices and equipment market. This region is expected to remain the largest during the next five years. The trauma fixation devices and equipment market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
The trauma fixation devices and equipment market is driven by the increasing number of road accidents and sports injuries. According to WHO, approximately 1.35 million people die every year due to road traffic accidents. Also, around 20 to 50 million people suffer non-fatal injuries resulting in a disability. In 2017 alone, according to the National Safety Council (NSC), exercise and the use of exercise equipment led to the most injuries (526,000). Basketball players reported 500,000 injuries, whereas bicycling sports specialists accounted to 457,000 injuries and 341,000 injuries were recorded for football players. Rapid rise in road accidents and sports injuries are expected to drive the trauma fixation devices and equipment market during the forecast period.
Increasing product recalls is one of the restraints for the trauma fixation treatment devices and equipment market. Product recall is a process of retrieving all faulty and defective products that have been sold or are available in the market. When a company recalls a product from the market, the company bears the cost of fixing the defective product and cost of replacement. This replacement cost of large number of products can go up to multi-million dollars, restraining the growth of the company and for the whole market as well. For example, in 2019, Brainlab AG recalled its spine and trauma 3D navigation software as the display was showing inaccurate details that could result in user misinterpretation during surgeries and harm the patient.
Undertaking of strategic partnership and collaboration is the recent trend being followed by companies in the trauma fixation devices. This is due to the presence of a large number of vendors in the market, in order to maintain the market share in the competitive market and to enter into the new geographies, companies are making strategic partnerships with companies and Research Institutes. For example, In December 2018, Medtronic in partnership with Shandong Weigao Group opened an R&D center to develop orthopedic technologies and devices for the local market which in turn helps Medtronic to expand their operations in China. Another such example, in November 2016, Stryker made a strategic partnership with Indo UK Institute of Health's (IUIH) Medicity Program. This 20-year long partnership would provide greater access to affordable primary joint replacements and other healthcare devices to patients in India.
The stringent regulations and validations coupled with lengthy approval time by the US-FDA is restricting the trauma fixation devices and equipment. The US 510(k) regulatory process mandates that the manufacturers should prove that a device is substantially equivalent to a standard/earlier approved device before approval. The trauma fixation devices needs a much longer time to prove safety and efficacy as these devices needs to be checked for innovative areas such as materials research and biodegradation. The changes in validation testing has also made the device approval or QC process quite strenuous. In 2018, Medical Device Regulation (MDR) mandated implementation of two tests, ASTM F382 and ASTM F384 compulsory for all the trauma fixation devices in order to improve the performance and the quality of the devices. ASTM F382 is used to test the uniformity of the bone plate designs and ASTM F384 is used to compare the performance of the different angled designs.
1) By type: Internal Fixation Devices, External Fixation Devices,
2) By end user: Hospitals, Trauma centers, Ambulatory surgical centers,
3) By product type: Metal plates and screws, Pins/wires, Nails and rods, Circular fixator, Hybrid fixator, Unilateral fixator
Influence Of The Trauma Fixation Devices And Equipment Market Report:
-Comprehensive assessment of all opportunities and risk in the Trauma Fixation Devices And Equipment market.
- Trauma Fixation Devices And Equipment market recent innovations and major events.
-Detailed study of business strategies for growth of the Trauma Fixation Devices And Equipment market-leading players.
-Conclusive study about the growth plot of Trauma Fixation Devices And Equipment market for forthcoming years.
-In-depth understanding of Trauma Fixation Devices And Equipment market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Trauma Fixation Devices And Equipment market.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Global Trauma Fixation Devices And Equipment Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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