IMARC Group, a leading market research company, has released a report titled “Internal Trauma Fixation Device Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global internal trauma fixation device market size reached US$ 9.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
Internal trauma fixation devices are medical equipment used in treating fractured bones by stabilizing or limiting their movement. They are generally made using corrosion-resistant materials, such as polyether ether ketone (PEEK), nitinol, titanium, stainless steel, nickel, and tritium, depending on the bone structure. They are extensively utilized in hospitals, orthopedic surgical centers, and trauma and ambulatory centers across the globe.
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Internal Trauma Fixation Device Market Trends and Drivers:
The increasing number of individuals with chronic medical conditions like orthopedic disorders, along with the rising aging population, which is more prone to such ailments, is providing a thrust to the market growth. Moreover, the growing cases of fatal road accidents are catalyzing the demand for polymer-based internal trauma fixation devices as they reduce healing time and stiffness of bone fractures. Other factors, including the implementation of favorable government policies for improving healthcare infrastructure, along with extensive research and development (R&D) activities in the field of biotechnology, are creating a positive outlook for the market.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
- Closure Device
- Plates and Screws
- Wires
- Clips and Pins
- Rods and Nails
- Cables
- Bone Cement
Breakup by Material:
- Stainless Steel
- Nitinol
- Titanium
- Tritium
- Polyether Ether Ketone (PEEK)
Breakup by End User:
- Hospitals
- Orthopedic Surgical Centers
- Trauma Centers
- Ambulatory Centers
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Arthrex Inc.
- B. Braun Melsungen AG
- Globus Medical Inc.
- Johnson & Johnson Private Limited
- Medartis AG
- Orthofix Medical Inc.
- Orthopaedic Implant Company
- OsteoMed (Berkshire Hathaway Inc.)
- Smith & Nephew plc
- Stryker Corporation
- Zimmer Biomet.
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