A Transparency Market Research report projects the global orthopedic trauma fixation will rapidly expand over the next four years.
Here are seven things to know:
1. The market hit $6.1 billion in 2014.
2. By 2020, the report anticipates the market to surge to $9.3 billion.
3. From 2014 to 2020, the market will likely increase at a compound annual growth rate of 7.2 percent.
4. Factors spurring market growth include the higher incidence of fractures and rising healthcare expenditures.
5. The growing popularity of internal fixators composed of bioabsorbable materials and more sport injuries could also fuel expansion.
6. A lack of awareness about devices and surgery's high cost may hinder market growth.
7. North America dominates the market, with the United States driving growth in the sector. Asia is likely to rapidly expand in the aforementioned time period, however.