The global trauma products market is forecast to grow at a compound annual growth rate (CAGR) of more than 9% during the forecast period from 2022-2030.
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Physical injuries caused by any external force, such as fractures, burns, sprains, dislocations, and strains, are often referred to as trauma. Centers for Disease Control and Prevention defines trauma as an illness or injury caused by external or internal force or violence. Different procedures are available for treating trauma, and their use depends on how severe the condition is. Among the trauma products available are internally fixed instruments, externally fixed instruments, and other trauma products. It also includes sports medicine devices, cages, angled blades, power tools, and arc bars.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Factors Affecting
- The aging population, increase in sports injuries and road accidents, use of minimally invasive surgeries, and increased demand for trauma products have been driving the growth of the global trauma products market.
- Increasing awareness among patients regarding the benefits of advanced trauma devices, increased investment coupled with advances in trauma products, and an increase in diabetes & obesity across the globe will boost the trauma products market.
- The complexity of using trauma products to treat injuries and the stringent approval process for trauma devices will hamper the market’s growth.
- Emerging economies are likely to provide lucrative opportunities due to their high growth potential.
Impact Analysis of COVID-19
During the Covid-19 pandemic, trauma products were unavailable worldwide. A nationwide lockdown imposed by the government in various countries led to the suspension of the entire production of such products. Furthermore, distribution channels were closed to prevent virus transmission. Because healthcare professionals and medical facilities gave preference to the Covid-19 virus-affected patients, all elective and non-essential surgeries were postponed, which resulted in a decline in demand for trauma products. In the post-Covid-19 period, the market will get back on its feet as all the delayed operations start.
Regional Analysis
North America held dominance in the trauma product market. The reasons for this include advancements in healthcare infrastructure and a growing awareness of trauma. In addition, a majority of all trauma product manufacturers reside in this region. As a consequence, such products are relatively affordable, so they are in high demand.
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Leading Competitors
The leading prominent competitors in the global trauma product market are:
- Smith & Nephew plc (United Kingdom)
- Stryker Corporation (United States)
- DePuy Synthes (United States)
- Cardinal Health (United States)
- Acumed, LLC (United States)
- Advanced Orthopaedic Solutions (United States)
- Wright Medical Group N.V. (United States)
- Bioretec Ltd. (Europe)
- Integra LifeSciences (United States)
- Zimmer Biomet (United States)
- Traumedica (South America)
- Citieffe S.R.L. (Europe)
- Arthrex, Inc. (United States)
- Osteomed (United States)
- Response Ortho (Middle East)
- CoNMed Corporation (United States)
- B. Braun Melsungen Ag (Germany)
- Double Medical Technology Inc. (China)
- Ortosintese (South America)
- Other Prominent Players
Scope of the Report
The global trauma product market segmentation includes Type, Surgical-Site, End-User, Region.
Segmentation based on Type
- Internal Fixators
- Plates & screws
- Rods & Pins
- Others
- External Fixators
- Uniplanar & Multiplanar Fixators
- Circular Fixators
- Hybrid Fixators
Segmentation based on Surgical-Site
- Upper Extremities
- Hand & Wrist
- Shoulder
- Arm
- Elbow
- Lower Extremities
- Hip & Pelvis
- Lower Leg
- Foot & Ankle
- Knee
- Thigh
Segmentation based on End-User
- Hospitals
- Ambulatory Surgical Centers
- Others
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Aim of the Report
- This study aims to determine the market size of various segments and countries with forecast values for next ten years.
- Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
- It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
- The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
What is the goal of the report?
-The market report presents the estimated size of the Healthcare market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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