Trauma Devices Market – Overview
The global trauma devices market is projected to expand at a favorable rate from 2021 to 2031 (forecast period). The global trauma devices market is expected to be driven by a significant rise in the global elderly population and an increase in the frequency of traffic accidents. Moreover, serious fracture occurrences among the elderly due to falls and mishaps are projected to contribute to the global trauma devices market.
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Falls and automobile accidents account for approximately 40.0% of all trauma injuries. Falls are more common among the elderly and youngsters under the age of seven. Motor vehicle accidents cause over 28% of trauma injuries. This is a critical component that is projected to benefit the worldwide trauma devices market.
Trauma Devices Market – Competitive Landscape
Prominent players active in the global trauma devices market are Stryker, Zimmer Biomet, Integra LifeSciences, Smith & Nephew, Depuy Synthes, Bioretec Ltd, Wright Medical Group N.V., Acumed, and Cardinal Health.
To achieve a strong foothold in the worldwide trauma devices market, leading players are increasingly focused on strategies such as product innovation, mergers and acquisitions, new advancements, joint ventures, collaborations, and partnerships. These businesses are strongly investing in R&D in order to capitalize on undiscovered markets. Moreover, some of the players prefer to acquire smaller players to grow and improve their global footprint.
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Trauma Devices Market – Trends and Opportunities
The global trauma devices market has grown significantly in recent years. This growth can be linked to a spike in the number of traffic accidents, an increase in the demand for trauma devices and technologically sophisticated products, a high incidence of degenerative bone disorders, and growing elderly population rate. The rise in disposable income and growing awareness of the latest innovations in the medical field are expected to boost the global trauma devices market growth.
The rising number of traffic accidents is anticipated to propel the global trauma devices market forward. According to the World Health Organization (WHO), over 1.25 million people die each year as a result of traffic accidents and wrecks. Non-fatal injuries affect an estimated 20-50 million people, with much suffering physical impairment. As a result, road traffic accidents are regarded as one of the top causes of mortality and morbidity worldwide.
Degenerative bone diseases, such as Paget's disease, osteoporosis, and osteoarthritis, cause bone degradation and severe joint pain and stiffness. Osteoarthritis is much more common in adults over the age of 40, and the disease's risk rises with age. As per the WHO, the worldwide number of individuals aged 60 and more was 900 million in 2015, and this figure is expected to rise to 2 billion by 2050. The growing senior population is estimated to increase the prevalence of degenerative bone diseases globally, thereby driving demand for trauma devices.
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Internal trauma fixation devices are projected to witness considerable growth, owing to strong patient preference for internal fixators due to improved procedural outcomes. Moreover, internal fixators allow faster recovery and shorter hospital stays, which is expected to boost its adoption. Furthermore, internal fixators lessen the likelihood of incorrect healing of damaged bones. Various manufacturers are working on the development of biocompatible devices, which is expected to drive the global trauma devices market.
Trauma Devices Market – Regional Landscape
North America trauma devices market is projected to expand due to the high occurrence of accidental injuries and a large senior population. Moreover, government-established trauma hospitals specializing in treating emergency circumstances are expected to boost the trauma devices market in North America.
Asia Pacific is expected to experience significant growth in the trauma devices market during the forecast period. Rising senior populations in China and Japan, an increase in traffic accidents, and rapidly rising economies are among the main aspects projected to drive the regional market.