According to a new report published by Prudent Markets, titled, “Trauma ProductMarket by Product, Surgical Site, and End User: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global trauma product market size was valued at $6,613million in 2018, and is projected to reach $10,418million by 2026, growing at a CAGR of 5.8% from 2019 to 2026.

Trauma products serve as efficient clinical procedures for the treatment of trauma based on the severity of injury. Trauma refers to any kind of physical injury such as dislocations, sprains & strains, fractures, and burns caused by external sources. According to the Center for Disease Control and Prevention, trauma is a wound or injury to a living individual caused due to violence or external force. Trauma products available in market include internal fixators, external fixators, and others.

Factors that drive the growth of the global trauma products market include rise in prevalence of orthopedic injuries or diseases and rapid rise in geriatric population. In addition, advancements in trauma products& devices and widespread application of trauma products to treat musculoskeletal, orthopedic diseases, & injuries supplement the market growth. However, complexities involved in using trauma products for treatment of injuries and implementation of stringent government policies towards trauma devices are expected to hinder the growth of the market. On the contrary, high growth potential for the trauma products market in emerging economies is anticipated to lucrative opportunities during the forecast period.

Depending on product, the market is categorized into internal fixators, external fixators, and other trauma products. The internal fixators segment dominated the global market in 2018, and is anticipated to continue this trend during the forecast period. The key factors that drive the market growth are alarming rise in number of joint disorders cases such as osteoarthritis and rheumatoid arthritis, wide availability of internal fixators trauma products, increase in geriatric population, surge in prevalence of trauma injuries coupled with increase in public awareness toward availability of trauma products, and increase in awareness among patients about the benefits offered by advanced internal fixators drive the market growth of this segment.

On the basis of surgical site, the market is classified into upper extremities and lower extremities. The upper extremities segment accounted for the majority of market share in 2018, owing to increase in incidence of orthopedic diseases & injuries, availability of improved healthcare facilities in developing & developed countries, increase in demand for upper extremities trauma products, rise in geriatric population, and increase in adoption of minimally invasive surgeries.

According to Onkar Sumant, Manager, Healthcare at Prudent Markets, “The growth of the trauma product market is attributed to rise in adoption of minimally invasive surgeries. Furthermore, rise in demand for trauma products and surge in incidence of sports injuries &road accidents across the globe are the other factors that contribute toward the growth of the market.”



KEY FINDINGS OF THE STUDY

• Depending on product, the internal fixators segment held major share in the global market in 2018.

• By surgical site, the upper extremities segment accounted for the largest market share in 2018, and is expected to remain dominant throughout the forecast period.

• On the basis of end user, the hospitals &trauma centers segment accounted for significant revenue in the global market in 2018.

• Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.6% during the forecast period.



North America accounted for approximately one-half of the global trauma products market share in 2018, and is expected to remain dominant throughout the forecast period. This was attributed to increase in demand for trauma products, large presence of medical device companies, availability of well-developed healthcare infrastructure, and wide availability of trauma products. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, development of R&D sector, rise in healthcare reforms, and technological advancements in the field of healthcare.







 

Research Link: https://www.prudentmarkets.com/report/trauma-products-market/538/