Lower Extremities Trauma Devices Market to Grow with an Impressive CAGR During the Forecast Period | TechSci Research
Global Lower Extremities Trauma Devices Market is driven by advancing technologies in the forecast period, 2023-2027.
Increasing cases of osteoporosis that decreases the bone density and makes the bones brittle, are also driving the growth of the global lower extremities trauma devices market in the upcoming five years. Also, increasing cases of spinal cord injuries that often arise due to road accidents and weaker bones, is supporting the growth of the global lower extremities trauma devices market in the next five years.
Rapidly increasing instances of road accidents, accidental falls, and sports injuries are major causes of spinal injuries, thus for such instances, demand for effective trauma device increases and thus substantiates the growth of the global lower extremities trauma devices market in the future five years. Moreover, rising research and demand for technologically advanced products, and innovative products flooding the market are some of the major factors that drive the market growth.
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Government bodies, and other authoritative bodies are actively investing in the healthcare sector to support the research and development sector for medical devices. Private investments and financial investments from the market players, and global giants involved with medical device development is also playing a vital role in growth of the global lower extremities trauma devices market in the forecast years, until 2027.
The global lower extremities trauma devices market segmentation is based on type, site, end user, regional distribution, and competitive landscape. Based on type, the market is further differentiated between internal fixators and external fixators. Internal fixators include plates & screws, rods & pins, and others. Also, external fixators include uniplanar & biplanar fixators, circular fixators, and hybrid fixators.
Internal fixators are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the ground of increasing instances of bone diseases and deformities that require surgical approaches for the treatment. Moreover, increasing sports events, rapidly increasing road accidents, and geriatric population of the country further support the growth of the global lower extremities market in the next five years.
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Market segments on the basis of site, is fragmented into hips & pelvis, lower leg, foot & ankle, knee, and thigh. Lower leg site is anticipated to hold the largest revenue shares of the market due to increasing instances where the traumatic injury is suffered in lower leg. Moreover, foot & ankle site is also anticipated to register significant growth in the next five years on the grounds of growing geriatric population that is more susceptible to traumatic accidents and sufferings in the foot & ankle.
End user market segment is further bifurcated into hospitals & clinics, ambulatory surgical centers, and others. Hospitals & clinics are expected to register highest demands for the lower extremities trauma devices market in the future five years due to higher patient count, and availabilities of financial funds to acquire in-expensive medical devices for the best patient care.
Some of the market players, dominating the global market are:
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew, Plc.
- Wright Medical Group N.V.
- Integra LifeSciences Corporation
- Acumed LLC
- Orthofix Holdings, Inc
- Medartis AG
- Advanced Orthopaedic Solutions, Inc.
- Matrix Meditec Private Limited
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“North America region is anticipated to hold the largest revenue shares of the market due to increasing investment in the healthcare sector and its expansion in the major economies. The countries like the United States and Canada are actively supporting their healthcare industry by increasing investments, providing favorable schemes for the development, supply, and advancement in the medical devices, therapeutic approaches and pharmaceutical products. Surging instances of spinal injuries, osteoporosis, and bone deformities is further aiding the growth of the global lower extremities trauma devices market in the upcoming five years. Increasing technological advancement and surging demand from the patients for effective and affordable treatment further substantiate the market growth. New market players entering the market may focus their resources over extended research and innovative product development to satisfy the consumer demands and thus further aid their bran establishment. Merger and acquisitions with the global giants would also help,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Lower Extremities Trauma Devices Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027 Segmented By Type (Internal Fixators {Plates & Screws, Rods & Pins, Others} v/s External Fixators {Uniplanar & Biplanar Fixators, Circular Fixators, Hybrid Fixators}), By Site (Hips & Pelvis, Lower Leg, Foot & Ankle, Knee, Thigh), By End User (Hospitals & Clinics, Ambulatory Surgical Centers, Others), By Region”, has evaluated the future growth potential of global lower extremities trauma devices and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global lower extremities trauma devices market.
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