Trauma and Extremities Devices Market is expected to reach US$ 17.72 billion by 2031

Internal Fixation Devices Segment, by Device Type, to Dominate Trauma and Extremities Devices Market Share During 2023–2031 

According to our new research study on "Trauma and Extremities Devices Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis," the market is expected to grow from US$ 13.43 billion in 2023 to US$ 17.72 billion by 2031; the market is estimated to record a CAGR of 3.8% during 2023–2031. Key factors driving the market growth are rising number of road accidents and growing geriatric population. However, availability of alternative treatment and high cost of trauma extremity devices hinder the market growth. Furthermore, the increasing adoption of non-metallic fixators and bioabsorbable fixators is expected to bring new trauma and extremities devices market trends in the coming years. 

As per the United Nations, the global median age has changed notably in the last few decades; it increased from 24 in 1950 to 31 in 2020. This indicates that there has been a rise in the elderly population, along with the overall population, in every country. According to the World Health Organization (WHO) estimates published in October 2022, 1 in 6 people worldwide will be aged 60 or above by 2030. The number of people belonging to the age group of 60 years and above is expected to surge from 1 billion in 2020 to 1.4 billion by 2030 and 2.1 billion by 2050. In addition, the number of people aged 80 and above is expected to reach 426 million by 2050. 

Trauma and Extremities Devices Market, by Geography, 2022 (%)

Source: The Insight Partners Analysis

According to the Population Reference Bureau (PRB), Italy has 23% senior citizens, followed by Finland, Portugal, and Greece, ranking among the top five countries. 22% of the total population in Finland, Portugal, and Greece, together, is geriatric population. Countries such as Croatia, Greece, Italy, Malta, Portugal, Serbia, Slovenia, and Spain collectively have 21% of the older population in Europe. Similarly, the elderly population in the US accounts for 16% of the total population. The aging population faces a number of health issues, one of which is the rise in degenerative joints and bone diseases such as osteoarthritis, osteoporosis, intervertebral disc herniation, and sarcopenia. Therefore, the rising prevalence of bone degenerative disorders drives the trauma and extremities devices market growth.     

The trauma and extremities devices market analysis is carried out by identifying and evaluating key players in the market across different regions. 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 are among the prominent players profiled in the trauma and extremities devices market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem.

The trauma and extremities devices market forecast can help stakeholders in this marketplace plan their growth strategies. As per company press releases, a few recent developments are listed below:

In September 2023, Orthofix Medical Inc. announced the US commercial launch of the Galaxy Fixation Gemini system. This latest addition to the Galaxy product line is a stable external fixation system available in several sterile procedure kit configurations. It provides a quick solution for treating fractures caused by trauma in the upper and lower limbs.

In December 2021, the Johnson & Johnson Medical Devices Companies announced that DePuy Synthes, through its affiliate Synthes GmbH, acquired OrthoSpin, Ltd., an Israeli company. OrthoSpin is known for developing and manufacturing an automated strut system, which is used alongside DePuy Synthes' MAXFRAME Multi-Axial Correction System, an external ring fixation system.

In October 2021, Smith+Nephew completed the acquisition of Integra LifeSciences Holdings Corporation's Extremity Orthopaedics business for US$ 240 million. This acquisition substantially enhanced Smith+Nephew's extremities business by providing a dedicated sales channel, complementary shoulder replacement, and upper and lower extremities product portfolio, as well as an exciting new product pipeline. Thus, contributions and market initiatives of the key players are positively influencing the trauma and extremities devices market growth.

The scope of the global trauma and extremities devices market report entails North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America held a major trauma and extremities devices market share in 2023, followed by Europe; the market in Asia Pacific is likely to grow at the highest CAGR during the forecast period due to the rising sports-associated injuries.

The trauma and extremities devices market is segmented on the basis of device type and end user. 

By device type, the 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.

In terms of end user, the trauma and extremities devices market is segmented into hospitals, clinics, and others. The hospitals segment is anticipated to hold a significant market share during 2023–2031. These organizations employ teams of trained staff to provide extensive medical services to patients with the use of sophisticated devices and equipment. Therefore, hospitals are the primary end users of trauma and extremities devices.  

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