According to the World Health Organization (WHO), road traffic crashes result in the death of approximately 1.19 million people every year, and between 20 and 50 million people are suffer from non-fatal injuries that hamper their daily life. On similar lines, the Indian Ministry of Road Transport and Highways (MORTH) and the National Crime Records Bureau (NCRB) provide the estimates of road crashes based on police data. As per the report, nearly 371,884 non-fatal road traffic injuries were reported in 2021, although the figure mentioned may be underestimated. Thus, the growing number of road traffic accidents that result in bone deformities escalate the demand for trauma and extremities devices.
The growth of the trauma and extremities devices market is attributed to the rising prevalence of road crashes that endure non-fatal injuries and the growing aging geriatric population prone to fractures due to reduced bone density. However, the high cost of trauma and extremity devices is a major factor hindering the market growth. The global trauma and extremities devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. In North America, the US held the largest market share due to the presence of key players and rising number of injuries caused by trauma. In addition, continuous product developments is expected to stimulate the growth of trauma and extremities devices market in North America.
Asia Pacific is expected to account for the fastest growth in the trauma and extremities devices market. The improving healthcare facilities and increasing cases of bone degenerative disorders in Asia Pacific are likely to fuel the growth of the market.
Elderly people are at a greater risk of falls, and minor accidents can cause fractures or bone breakage due to the tendency of muscles and bones to wear off with age. Osteoporosis and other conditions that affect older people may further raise the risk of bone breakage. Thus, an upsurge in the elderly population is correlated with the soaring number of orthopedic injuries and disorders, which creates the demand for trauma and extremities devices. According to the Osteoarthritis (OA) Action Alliance, 88% of people with OA are at least 45 years old, and 43% are 65 or older in the US. Thus, the growing number of road traffic accidents escalates the demand for trauma and extremities devices.
In July 2021, the Substance Abuse and Mental Health Services Administration contributed US$ 62.4 million in grant funding to provide and increase access to effective treatment and service systems across the US. These funds aim to help children, adolescents, and their families who have experienced traumatic events. The White House will also provide additional support through US$ 800,000 in American Rescue Plan (ARP) funding. Thus, increasing funding for trauma treatment is likely to create significant opportunities in the trauma and extremities devices market.
Key segments that contributed to the derivation of the trauma and extremities devices market analysis are device type and end user.
The geographic scope of the trauma and extremities devices market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America dominated the trauma and extremities devices market. According to Centers for Disease Control and Prevention estimates, 21.2% of adults in the US, or 53.2 million people, had doctor-diagnosed arthritis from 2019 to 2021. Due to rising incidences of bone degenerative disorders in the region, North America held the largest share of the market in 2022. An inclination toward the development of technologically advanced products and the presence of global market players are factors contributing to the dominance of North America in the trauma and extremities devices market.
The trauma and extremities devices market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments and strategies in the market for trauma and extremities devices:
The regional trends and factors influencing the Trauma and Extremities Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Trauma and Extremities Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 13.43 Billion |
| Market Size by 2031 | US$ 17.72 Billion |
| Global CAGR (2023 - 2031) | 3.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Device Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Trauma and Extremities Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Trauma and Extremities Devices Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The “Trauma and Extremities Devices Market Size and Forecast (2022–2030)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Trauma And Extremities Devices Market
The trauma and extremities devices market was valued at US$ 13.43 billion in 2023.
Orthopedic trauma describes all kinds of injuries affecting the bones, muscles, joints, and ligaments in any part of the body that are caused by trauma. The term may refer to minor fractures or severely broken bones with a direct threat to life.
The trauma and extremities devices market is expected to be valued at US$ 17.72 billion in 2031.
Based on device type, the trauma and extremities devices market is segmented into internal fixation devices, external fixation devices, craniofacial devices, long bone stimulation, and others. The internal fixation devices segment held the largest market share in 2023.
The trauma and extremities devices market majorly consists of the players, including Stryker, Zimmer Biomet, Smith & Nephew, Wright Medical Group N.V, Advanced Orthopaedic Solutions, Integra LifeSciences Corporation, Acumed LLC, Orthofix Holdings, Inc, Medartis AG, Corin, Matrix Meditec Private Limited, Electramed Ltd., and Miraclus.
Key factors driving the trauma and extremities devices market growth are rising number of road accidents and increasing cases of bone degenerative disorders in elderly population.