Global Trauma Products Industry – Creating a positive impact during the COVID-19 crisis


Posted June 27, 2020 by torento2310

The Global Trauma Products Industry was estimated at $6.61 billion in 2018 and is expected to reach $10.41 billion by 2026, growing at a CAGR of 5.8% from 2019 to 2026.

 
The Increase in incidence of orthopedic diseases, the rise in the global geriatric population and surge in the occurrence of road accidents and falls drive the growth of the global trauma products market. On the other hand, strict government approval processes for trauma products hamper the growth to some extent. However, development in emerging economies is expected to pave the way for a number of opportunities for the key players in the industry.

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As per the report, The Global Trauma Products Industry was estimated at $6.61 billion in 2018 and is expected to reach $10.41 billion by 2026, growing at a CAGR of 5.8% from 2019 to 2026.

The internal fixators segment to maintain its leadership status until 2026

Based on the product, the internal fixators segment contributed to three-fourths of the global trauma products market revenue in 2018 and is expected to retain its dominance by the end of 2026. The same segment would also register the fastest CAGR of 6.2% throughout the forecast period. Rise in the number of cases of joint disorders such as osteoarthritis & rheumatoid arthritis, wide availability of internal fixators, and an increase in the geriatric population across the globe drive the growth of the segment.

The lower extremities segment to rule the roost during the estimated period

Based on application, the lower extremities segment held the largest share in 2018, garnering three-fifths of the global trauma products market. The same segment is also projected to grow at the fastest CAGR of 6.1% till 2026. The majority of the leading players in the lower extremity trauma products market are launching innovative products using advanced technologies to address the specific demands of their consumers, thereby augmenting the sale of trauma devices.

North America to maintain its dominance throughout the forecast period

Based on geography, North America accounted for nearly half of the global trauma products market share in 2018 and is anticipated to maintain the lion’s share during 2019–2026. An increase in the prevalence of orthopedic disorders, availability of advanced trauma products, and a higher number of the target population in this province has boosted the growth. The Asia-Pacific region, on the other hand, would showcase the fastest CAGR of 7.6% by 2026. Rise in incidence of bone degenerative diseases in various countries in the region, and rise in awareness regarding the benefits offered by trauma products fuel the growth.

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Key market players

B. Braun Melsungen AG
Zimmer Biomet Holding Inc.
Globus Medical, Inc.
Accumed LLC.
Johnsons & Johnsons
Medtronic PLC.
Nuvasive Inc.
Smith & Nephew
Stryker Corporation
Colfax Corporation (DJO)
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Last Updated June 27, 2020