The global trauma fixation devices and equipment market reached a value of nearly $6,571.0 million in 2021, having increased at a compound annual growth rate (CAGR) of 3.2% since 2016. The market is expected to grow from $ 6,571.0 million in 2021 to $9,638.6 million in 2026 at a rate of 8%. The market is then expected to grow at a CAGR of 8% from 2026 and reach $138,365.3 million in 2031.
Growth in the historic period resulted from increased number of accidents, growth in the number of healthcare facilities, rapid growth in elderly population, economic growth in emerging markets, rapid technological advances and increased healthcare expenditure. Factors that negatively affected growth in the historic period were lack of trauma centers and lack of surgical resources.
Going forward, rise in incidences of osteoporosis, rise in sports injuries, increasing incidences of occupational accidents, and improving healthcare facilities will drive market growth. Factors that could hinder the growth of the trauma fixation devices and equipment market in the future include challenges due to regulatory changes, lack of skilled labors, and high cost associated with orthopedic implant surgery.
The trauma fixation devices and equipment market is segmented by device type into internal fixation devices, and external fixation devices. The internal fixation devices market was the largest segment of the trauma fixation devices and equipment market by device type, accounting for 76.2% of the total market in 2021. The internal fixation devices market is expected to be the fastest-growing segment in trauma fixation devices and equipment market is segmented by device type, going forward at a CAGR of 8.6% during 2021-2026 period.
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The trauma fixation devices and equipment market is also segmented by product type into metal plates and screws, pins/wires, nails and rods, circular fixator, hybrid fixator and unilateral fixator. The metal plates and screws was the largest segment of the trauma fixation devices and equipment market by product type, accounting for 45.7% of the total market in 2021. The metal plates and screws, pins/wires, and nails and rods segment are expected to be the fastest-growing segment in trauma fixation devices and equipment market is segmented by product type, going forward at a CAGR of 8.6% during 2021-2026 period.
The trauma fixation devices and equipment market is also segmented by end user into hospitals, trauma centers, and ambulatory surgical centers. The hospitals market was the largest segment of the trauma fixation devices and equipment market by end user, accounting for 58.6% of the total market in 2021. The trauma centers market is expected to be the fastest-growing segment in trauma fixation devices and equipment market is segmented by end user, going forward at a CAGR of 8.8% during 2021-2026 period.
North America was the largest region in the trauma fixation devices and equipment market, accounting for 36.0% of the global market in 2021. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the trauma fixation devices and equipment market will be South America and the Asia Pacific, where growth will be at CAGRs of 9.7% and 9.1% respectively from 2021-2026.
The global trauma fixation devices and equipment market is consolidated, with a few large players. The top ten competitors in the market made up to 87.08% of the total market in 2020. Major players in the market include Johnson & Johnson, Stryker Corporation, Smith & Nephew plc, Zimmer Biomet Holdings, Medtronic Inc.
The top growth potential in the trauma fixation devices and equipment market by device type will arise in the internal fixation devices market, which will gain $2,548.6 million of global annual sales by 2026. The top growth potential in the trauma fixation devices and equipment market by product type will arise in metal plates and screws market, which will gain $1,529.2 million of global annual sales by 2026. The top growth potential in the trauma fixation devices and equipment market by end user will arise in hospitals market, which will gain $1,705.1 million of global annual sales by 2026. The trauma fixation devices and equipment market size will gain the most in the USA at $924.0 million.
Market-trend-based strategies for the trauma fixation devices and equipment market include implement of artificial intelligence and robotics technologies, development of holomedicine, biodegradable implants, and 3D printed implants and strategic partnerships between companies.
Player-adopted strategies in the trauma fixation devices and equipment industry includes expansion and development of product portfolio through collaboration, strengthening its product portfolio by adding new smart devices and implants via mergers and acquisitions, accelerating development in emerging markets and product innovation.
To take advantage of the opportunities, Altus Market Research recommends the trauma fixation devices and equipment companies to focus on the use of artificial intelligence, focus on strategic collaborations, partnerships and agreements, expand in emerging markets, expanding in countries offering research incentives, provide competitively priced offerings in low-income countries, offer value-based pricing, focus on direct marketing and target hospitals, healthcare centers and medical professionals.
Competitive Landscape – This section covers details on the competitive landscape of the global trauma fixation devices and equipment market, estimated market shares, and company profiles for the leading players.
Arthrex Inc. B. Braun Group, NuVasive, Inc., Integra LifeSciences, Orthofix Medical Inc, DePuy Synthes, Xinrong, uzhou Sunan Zimmered, Double Medical, Jiangsu Trauhui, Smith & Nephew, Zimmer Biomet, Trauhui, Wright Medical Group, Cardinal Health, Arjo, Medimaps Group, Greenbone Ortho, Medartis AG, MedSilesia, Terumo Medical Canada, IlluminOss, CONMED Corporation, Baumer S.A., Biomecanica Group, Engimplan, GMReis, NEOORTHO, Trauma Solutions S.A.C., Augmedics, Premia Spine, ZygoFix, CarboFix Orthopedic Ltd, Carevature Medical Ltd, ARNICA FAM PARAND, Tibbi Aletler San.Tic.Ltd.Sti., Atamed, EgiFix medical, Behman Psychiatric Hospital, Cairo Scan Radiology Center, Cleopatra Hospital, Saudi German Hospital, Medina Specialised Hospital
