The Global Orthopedic Trauma Device Industry is gearing up for a momentous surge, fueled by a projected Compound Annual Growth Rate (CAGR) of 7.1% from 2023 to 2033, according to the latest report by Future Market Insights titled “Global Orthopedic Trauma Device Industry” Analysis 2013 – 2021 and Opportunity Assessment, 2022 – 2028.”
The market value, currently standing at US$10.7 billion in 2023, is poised to witness an extraordinary upswing, catapulting to $21.2 billion or more by 2033. This significant expansion is attributed to the escalating incidence of fractures resulting from road accidents and sports-related injuries.
The orthopedic trauma device market is expected to maintain a robust CAGR of 6.8% over the next decade, indicating sustained growth and market resilience. By the close of 2028, the market is estimated to surpass global revenues exceeding US$14 billion, demonstrating the industry’s unwavering potential.
Local players within regional markets continue to wield significant influence, as highlighted by the report. The orthopedic trauma device market’s growth is fueled by advancements in medical technology, an aging population, and increasing awareness regarding orthopedic healthcare.
A bright future for the market is foreseen, with the advent of 3D printing technology offering a multitude of growth opportunities, particularly in the realm of 3D-printed orthopedic implants. Furthermore, the rising trend of reverse shoulder arthroplasty is set to create significant prospects. The emergence of digital orthopedics will continue to be a driving force behind market growth up to 2028, as stated by a research analyst at Future Market Insights.
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Based on the regional analysis, the global orthopedic trauma devices industry will continue to witness dominance in North America, which currently accounts for a major portion of the total revenues. With around 48% value share observed in 2021, North America’s orthopedic trauma devices industry is estimated to attain a value of over US$ 6 Bn by the end of 2028. Western Europe is also identified to be a key market, holding the second-largest position in terms of value.
Manufacturers will however discover attractive opportunities in developing economies, including Asia Pacific, Latin America, and Middle East, and Africa. Among the emerging regional markets, Asia Pacific excluding China and Japan (APECJ) is likely to emerge at a relatively higher pace, followed by MEA. China is expected to be the most lucrative market owing to the highest estimated CAGR value over 2022-2028. The strong presence of key companies will reportedly uplift the markets in North America and China.
A majority of the key companies operating in the global orthopedic trauma market are opting for strategic mergers and acquisitions, in addition to new product launches. According to the report, the tier 1 companies, followed by the tier 3 players, contribute most of the revenue. Tier 1 includes DePuy Synthes Inc., Stryker Corporation, Zimmer Biomet Holdings Inc., and Smith & Nephew Plc., which collectively represent nearly 70% share of the total market revenues. Among these, DePuy and Stryker will continue to remain the top players worldwide over the next decade. Tier 3 accounts for a relatively decent revenue share and includes brands such as Arthrex, Inc., RTISurgical, Medartis, Integra LifeSciences Corporation, Japan MDM, S. H. Pitkar Orthotools Pvt Ltd, Weigao Group Co Ltd, and Invibio Ltd.
Others operating in the global orthopedic trauma devices industry include Johnson & Johnson Services, Inc., Wright Medical Group NV, B. Braun Melsungen AG, Orthofix International, and OsteoMed. Growing outpatient surgical procedure demand and boosting funds for delivery of the top-notch trauma care are foreseen to collectively create a lucrative pool of opportunities for the leading bunch of companies in the global marketplace. The market is also witnessing the development of novel and effective products for use in trauma care, which stands to be another important opportunity.
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Global Orthopedic Trauma Device Industry Key Companies Profiled:
- Medtronic, Inc.
- Invibio Ltd.
- OsteoMed
- Weigao Group Co Ltd.
- Arthrex, Inc.
- Johnson & Johnson Company
- CONMED, Tornier, Inc.
- Stryker Corporation
- Zimmer Holding Inc.
- NuVasive
- Medartis
- Olympus Corporation
Key Segments Covered in Global Orthopedic Trauma Device Industry Research
Global Orthopedic Trauma Device Industry by Product Type:
- Internal Fixators
- Screws
- Intramedullary Nails
- Plates
- Others (Wires, Pins, Staples)
- External Fixators
- Unilateral Fixators
- Circular Fixators
- Hybrid Fixators
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Global Orthopedic Trauma Device Industry by Product Type by End User:
- Hospitals
- Orthopedic and Trauma Centers
- Ambulatory Surgical Centers
Global Orthopedic Trauma Device Industry by Region:
- North America Orthopedic Trauma Devices Market
- Latin America Orthopedic Trauma Devices Market
- Europe Orthopedic Trauma Devices Market
- East Asia Orthopedic Trauma Devices Market
- South Asia & Pacific Orthopedic Trauma Devices Market
- Middle East & Africa (MEA) Orthopedic Trauma Devices Market
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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