Trauma Implants Market
Number of pages: 100 | Report Format: PDF | Published date: September 29, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
|
Market size value in 2021 |
US$ 8.43 billion |
|
Revenue forecast in 2030 |
US$ 15.25 billion |
|
Growth Rate |
CAGR of 6.80% from 2022 to 2030 |
|
Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
|
Segments covered |
Product, End User, and Region |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
The global trauma implants market was pegged at US$ 8.43 billion in 2021 and is expected to witness a CAGR of 6.80% during the forecast period.
Market Fundamentals
Trauma implants are intended to treat fractures, and bone disorders in the arms, shoulders, and legs. These implants can restore the normal bone structure and help in faster recovery. It is widely used in orthopedic injuries, and surgical outcomes. Based on different areas of usage the implants are manufactured in a variety of forms, and quality. Stainless steel, titanium, and cobalt-based alloys are the metals utilized in orthopedic implants. Structures that have deteriorated naturally or have been damaged are frequently replaced with stainless steel implants. In orthopedic surgery, titanium is frequently used for implants intended for longer use.
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Market Dynamics
Some of the major trends influencing the market growth is rise in the frequency of accidents, sports, and adventure-related injuries. A significant element driving the expansion of the market for orthopedic trauma devices is the rise in accidents and other fatalities, as well as the trauma related to slip and fall accidents, traffic accidents, osteoarthritis, and orthopedic sports injuries.
Market Ecosystem
The global trauma implants market has been analyzed from three perspectives: product, end user, and region.
Trauma Implants Market by Product
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Based on products, the global market for trauma implants is segmented into metal plates & screws, nails & rods, and pins/wires and others. The metal plates & screws segment holds the largest market share. This segment growth is attributed to easy accessibility and affordability and their imperative use in trauma fixation. Furthermore, screws have high demand in articular fractures. The use of screws reduces the risk of misplacement and enhances procedure accuracy. The pins/wires segment is anticipated to grow during the forecast period due to increased technological advancements, and presence of major market players involved in development of pins and wires.
Trauma Implants Market by End User
Based on end user, the global market for trauma implants is grouped in orthopedic clinics, hospitals, and ambulatory surgical centers. The largest share of the global trauma implants market was held by the hospitals. Over the course of the forecast period, the segment is predicted to continue to retain its dominance as a result of increasing demand for trauma implants for a variety of surgeries and applications as well as rising investments in the development of new implants. Additionally, as a result of expansion in hospital infrastructure in emerging economies, increase in adoption of novel therapies, and supportive government initiatives are contributing factors for the growth of the hospitals segment.
Trauma Implants Market by Region
Regionally, the global trauma implants market has been segmented into North America, Europe, Asia Pacific, and the rest of the world. The global market was dominated by North America, which is also anticipated to continue to hold a dominant position over the forecast period. Due to presence of trauma implant manufacturers, the rapid consumption of trauma implants in a variety of procedures, and beneficial reimbursement policies, North America is occupying a prominent position. Another key reason influencing the consumption of trauma implants in this region is high approvals of medical devices and increased research and development. During the projected period, Asia Pacific is anticipated to have the highest CAGR in the global market. During the forecast period, the expansion of the Asia Pacific trauma implants market is anticipated to be boosted by expanding medical devices industries, the increase in innovation and development in trauma implants, and the expanding outsourcing sector.
Competitive Landscape
Some of the prominent players operating in the trauma implants market are
A significant element driving the expansion of the market for orthopedic trauma devices is the rise in accidents and other fatalities, as well as the trauma related to slip and fall accidents, traffic accidents, osteoarthritis, and orthopedic sports injuries.
In the coming years, it is anticipated that high expenditures, strict government restrictions regarding product approval, and risks associated with lack of experienced specialists will restrain the growth of the global trauma implants market.
The global trauma implants market was pegged at US$ 8.43 billion in 2021 and is expected to witness a CAGR of 6.80% during the forecast period from 2022 to 2030.
The global trauma implants market is expected to clock US$ 15.25 billion by 2030.
*Insights on financial performance is subject to availability of information in public domain