The global trauma product market is anticipated to grow at a considerable CAGR of around 5.8% during the forecast period (2024-2031). The key factor to drive the market growth is the increasing prevalence of degenerative bone diseases such as osteoporosis, Paget’s disease among the growing geriatric population. These diseases will cause deterioration of bones and result in extreme pain and stiffness of joints. For instance, according to National Center for Biotechnology Information report on bone health and osteoporosis in 2020 one in every two Americans above age 50 are expected to develop osteoporosis of the hip or any site in the skeleton. Osteoporosis is one of the most common causes of fractures and almost 10 million individuals above age 50 in the US are having osteoporosis of the hip according to NCBI.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in April 2019, Amgen announced that the US Food and Drug Administration has approved EVENITY for the treatment of osteoporosis in postmenopausal women with a high risk of fractures. EVENITY is one of the first and only bone builders that increases bone formation and reduces the chances of bone resorption and risk of fracture. This approval of EVENITY by the FDA will represent the therapeutic advancement for patients in need of a medicine that can rapidly increase bone mineral density and help reduce the risk of future fractures within a year.
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Market Coverage
- Segment Covered-
o By Product
o By Surgical site
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Integra Lifesciences Corp., Smith & Nephew Plc, Medtronic Plc, Stryker Corp.., among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Trauma Product Market Report Segment
By Product
- Internal Application
o Plates
o Wires
o Screws
- External Application
o Unilateral Fixator
o Circular Fixator
o Hybrid Fixator
By Surgical Site
- Lower Extremities
o Hip and Pelvic
o Lower Leg
o Others (Foot and Ankle, Thigh and Knee)
- Upper Extremities
o Hand And Wrist
o Shoulders
o Others (Arms, Elbow)
By End-User
- Hospitals
- Trauma Centres
- Others
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