Trauma Implants Market Value Hit Around US$ 9.87 Bn by 2026
The Trauma Implants Market Value is poised to hit around US$ 9.87 billion by 2026, growing at a CAGR of around 4.8% over the forecast period 2019 to 2026.
LOS ANGELES, Feb. 17, 2020 /PRNewswire/ -- Recently Published Report on "Trauma Implants Market Size, Share, Growth and Forecast, 2019 - 2026": Acumen Research & Consulting
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North America dominated the global trauma implants market in the year 2018. The region has experienced the potential growth owing to the presence of trauma implants companies such as Smith & Nephew, Zimmer Biomet, Conformis, Orthofix Medical Inc., and Acumed LLC among others. The presence of a large customer base along with favorable reimbursement policies is additionally accelerating the regional market growth. Moreover, stringent government regulations regarding implant treatment and growing number of laboratories and clinic centers are expected to enhance the market growth in the global trauma implants market in future. The European Medicines Agency (EMA) and the US Food and Drug Administration (FDA) require all biopharmaceutical products and vaccines to undergo stringent testing to ensure the product is safe and free of contaminants.
Growing prevalence of such chronic diseases further expected to rise the demand for trauma implantsin North America. The Europe region is expected to exhibit a second-largest share in the trauma implants market. R&D Investments in replacement jointsand growing investment in medical device industry, growing number of bone replacement treatment in countries, such as Germany, the UK, France, Spain, and Italy, are expected to enhance the market growth in the global trauma implants market during the forecast.
Asia-Pacific region is expected to exhibit highest CAGR in the trauma implants market. The rapid growth in the urbanization, growing healthcare industry in developing countries, and liberalization of foreign direct investment in the medical device sector are the major driving factor for the region in the global market. Moreover, the rising chronic diseases population and growing awareness regarding treatment options increases its dominance in the global trauma implants market in future.
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Growing demand for trauma implants in various applications, increase demand for new products and medical devices in healthcare industry across the globe and rising number of pharmaceutical and clinic firmsare the main drivers for the market growth of the global trauma implants market over the forecast period. Furthermore, supportive government investment in life science and growing number of laboratory and research centers further grows the demand for trauma implantsover the forecast the period. Moreover, technological advancement and increase in the number of applications, and availability of advanced healthcare facilities in developing countries are expected to enhance the market size. This also expected to open investment opportunities in the global market for the manufacturers in the coming years. However, the high cost associated with the research and development, stringent regulatory standards, risks associated for skilled professionals, time consuming approval process are expected to hamper the growth of the global trauma implants market during the forecast period.
Internal trauma fixation devices segment have dominated the product type segment in the year 2018 and the segment is projected to maintain its dominance over the forecast period from 2019 to 2026. The product type segment further classified intointernal trauma fixation devices, craniomaxillofacial fixation devices, and implantable trauma stimulators. Several guidelines and recommendations issued by regulatory authorities and escalating demand for intointernal trauma fixation devicesin bone replacement further expected to drive the demand for the segment. The manufacturers such asWright Medical Group N.V., Smith & Nephew, Zimmer Biomet, and Stryker Corporation are the mainly investing in the development of intointernal trauma fixation devicesin implants, which expected the lead the market in the coming years.
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Hospital segment dominated the trauma implants market on the basis of end user in the year 2018. The major factors that are driving the growth of this segment are growing demand for implants in hospitals and growing number of hospitals drives the consumption of implants across the globe. This expected to enhance the dominance of the hospital in the global market over the forecast period.
Some of the leading competitors are Acumed LLC, Aesculap, Inc. – a B. Braun company, Wright Medical Group N.V., Stryker, DePuySynthes Companies, Wright Medical Group N.V., Smith & Nephew, Zimmer Biomet, Conformis, and Orthofix Medical Inc.
Some of the key observations regarding trauma implants industry include:
- In March 2019, Stryker Corporation launched new knee with less pain. This new products helps the patient with less need for in-patient physical therapy, improved knee flexion and soft tissue protection, and less need for opiate analgesics.
- In September 2018, DePuySynthes Companies announced opening of new scientific laboratory in Singapore. This expansion of new laboratory focuses on developing new implants and enhance customer base.
- In October 2018, DePuySynthes Companies signed partnership agreement with Ortho Development Corporation. The partnership focuses on new implant development and other primary knee development.
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