The global trauma and extremities market is estimated to grow at CAGR above 7.5% over the forecast time frame 2019 to 2026 and reach the market value around USD 18.6 billion by 2026.
Increasing urbanisation, together with improvements in health care, are expected to stimulate development in developing nations leading to numerous road accidents. The market for trauma and extremities is expected to boost factors such as increasing accidents, an increase in sports-related injury, changes in lifestyle and an increase in geriatric population. WHO reports that 16,000 individuals are killed every day from accidents. Other variables driving trauma and limb markets worldwide are technological progress and public reimbursement policies. Pressurized adhesives are projected to increase owing to electronic device miniaturization. Pressure delicate adhesives are used for different applications worldwide, such as packaging, footwear, construction, cars and electronics. The focus could increase the market in the coming years by expanding the product portfolio and expanding the application base.
Market players help to grow by researching and seeking permission for their innovative products. A medulla trauma therapeutic product for damage to the spinal cord was created by the National University of Science and Technology, MISIS. R&D activities aimed to improve the quality and the biocompatibility of existing products, to make them friendly and affordable to surgeons. Due to the growing geriatric population and the development in amount of road accidents, the trauma device industry will probably see a strong development in the coming years. Technological advances drive the market, with main players implementing a range of goods through comprehensive study capacity and increasing their segment portfolio by means of partnerships with other players.
Technological developments also drive the market, leading players to introduce a range of products through comprehensive study capacities and expand their portfolio through relationships with other players. The trauma and extremities market is expected to be fueled by factors such as increased accident numbers, an increase in the amount of sports-related injuries, a lifestyle shift and growth in the amount of geriatric people. A growing incidence of serious fractures and increasing expenditure on trauma device research and development are important variables that will drive the market during the forecast period. Small-bones and joints are classified as medical instruments used to fix small-scale bones.
The trauma and extremity market is dominated by North America as population aging and technology progress increase. Europe and Asia Pacific follow the North American market. As research and development and health consciousness grow amongst individuals, Europe is a major trauma and extremity market. The increase in population growth, the increase in health care costs and per capita spending is projected to boost Asia Pacific. The trauma and extremity market are expected to boost these factors. Developing nations such as Brazil, South Africa and Mexico are expected in view of greater accident rates, favourable demographics and an increase in access to health care to generate strong market opportunities for trauma or extremity devices. In low-and middle-income nations the burden of disability and injury death is particularly noteworthy. To date, the global injury burden in developing nations has remained at about 90%.
Key Players & Strategies
The trauma and extremities market consists of major vendors such as Dow DePuy Synthes; Wright Medical Group, Inc., Koninklijke Philips N.V.;Boston Scientific Corporation; Braun Melsungen AG; Stryker Corporation; Stryker; Zimmer Biomet; GE Healthcare; Zimmer Biomet Holdings, Inc.; Johnson & Johnson Services, Inc.; Becton, Dickinson and Company; Siemens; Cardinal Health; and Abbott. As a result of worldwide packaging innovations, the pressurized adhesives industry is most probable to experience an escalation in development. Increasing demand would boost production demand from developing nations like China and India. Environmental issues have also resulted businesses to invest in product development research and development operations.
BioMedical Enterprises, Inc. has purchased DePuy Synthes on terms unrevealed in May 2016. AN extensive portfolio of products for hands, handles, legs and ankles is anticipated.