The global orthopedic trauma fixation devices market is witnessing a significant growth, according to a Persistence Market Research report.
Here are 10 key trends:
1. The market is expected to reach a value of $9.4 billion in 2020.
2. The market was valued at $5.7 billion in 2013.
3. It is estimated to grow at a compound annual growth rate of 7.2 percent from 2014 to 2020.
4. Market growth can be attributed to an increase in fractures cases and an increasing demand for better facilities in orthopedic trauma surgeries.
5. However, factors such as double surgery, absence of health insurance in developing countries and high cost of surgeries involved are some of the major market retraints.
6. North America holds the largest market share, but Asia is witnessing the fastest growth of the market.
7. The internal fixator segment has the largest market share among all segments and it is expected to grow at a compound annual growth rate of about 6.8 percent from 2014 to 2020.
8. Additionally, bioabsorbable fixation devices segment is expected to grow at a compound annual growth rate of about 8.4 percent during the analysis period.
9. DePuy Synthes is a leading player in the global market with a market share of about 47.3 percent in 2013.
10. Other major players in the market include Stryker, Zimmer, Smith & Nephew and Orthofix.