Internal Trauma Fixation Devices Market
Global Internal Trauma Fixation Devices Market is projected to reach $12,693 million by 2025, growing at a CAGR of 6.4% from 2018 to 2025
PORTLAND, OREGON, UNITED STATES, October 27, 2020 /EINPresswire.com/ — The report offers detailed analyses of the top investment pockets, drivers & restraints, market size & estimations, key growth strategies, and competitive landscape. According to the report, the global internal trauma fixation devices market was valued at $7.65 billion in 2017 and is estimated to reach $12.69 billion by 2025, registering a CAGR of 6.4% from 2018 to 2025.
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The report segments the global internal trauma fixation devices market based on product, material, end user, and geography. With reference to product, the market is bifurcated into closure devices and bone cement. The increase in the prevalence of accidents and sports injuries along with the rise in geriatric population drives the growth of the global internal trauma fixation devices market. During the forecast period, technological advancement and increasing healthcare infrastructure are factors that would boost market growth as well. However, complications and allergies associated with such devices are expected to hinder market growth to an extent
Key Findings of the Internal Trauma Fixation Devices Market:
Based on product, the closure device segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 6.7% from 2018 to 2025.
Based on material, the nitinol segment exhibits fastest growth and is expected to grow at a CAGR of 7.0% from 2018 to 2025.
Based on end user, the hospital & clinic segment held approximately half of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.3% during the forecast period.
Major market players
Zimmer Holdings, Inc.
Zimmer Biomet, Inc.
B. Braun Melsungen AG
Smith & Nephew Plc
Wright Medical Inc.
Globus Medical Inc.
Orthopaedic Implant Company
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North America region to garner largest share through 2025
North America region held the largest share in 2017, contributing about 42% share of the total market, owing to the presence of key market players, high population base, and rise in healthcare spending. However, the Asia-Pacific region is expected to portray the fastest CAGR of 7.3% during the study period, owing to favorable reimbursement policies in the healthcare system, improved awareness about internal fixation devices among healthcare professionals, and availability of trained healthcare personnel.
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Stainless steel segment to dominate the global market by 2025
In 2017, the stainless steel segment dominated the global market in terms of revenue, contributing about 43% share. This segment is anticipated to maintain this trend, as they are biocompatible, corrosion-resistant, cost-effective, and bear low risk of infection. However, the nitinol segment is estimated to register the CAGR of 7.0% during the forecast period, as they show shape memory and superelastic property. The other segments analyzed in the report include titanium, tritium, and polyether ether ketone.
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Source: EIN Presswire