Asia-Pacific Trauma Devices Market, By Product (Internal Fixators Devices, External Fixators Devices and Others), Surgical Site (Lower Extremities and Upper Extremities), Tissue Type (Hard Tissue and Soft Tissue), Material Type (Non-Absorbable and Bio-Absorbable), Patient Age (Adults and Paediatric), End Use (Hospitals and Clinics, Burn Centers, Research Institutes, Home Care, Others) – Industry Trends and Forecast to 2030.
Asia-Pacific Trauma Devices Market Analysis and Size
Trauma is one of the major health problems that the people are facing globally. The market growth has increased with growing incidence of degenerative bone disease worldwide than the past few years. As trauma devices have repeatedly shown their high usefulness rates for treating sprains, fractures, dislocations, and strains, their market value is increasing. Several research studies are currently on-going, which are expected to offer manufacturers with a competitive advantage in developing innovative trauma products.
Data Bridge Market Research analyses a growth rate in the trauma devices market in the forecast period 2023-2030. The expected CAGR of trauma devices market is tend to be around 8.90% in the mentioned forecast period. The market is valued at USD 1647.01 million in 2022, and it would grow upto USD 3257.76 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Asia-Pacific Trauma Devices Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Internal Fixators Devices, External Fixators Devices and Others), Surgical Site (Lower Extremities and Upper Extremities), Tissue Type (Hard Tissue and Soft Tissue), Material Type (Non-Absorbable and Bio-Absorbable ), Patient Age (Adults and Paediatric), End Use (Hospitals and Clinics, Burn Centers, Research Institutes, Home Care, Others)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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Shanghai Kinetic Medical Co. Ltd (China), Weigao group (China), MicroPort Scientific Corporation (China), Orthofix US LLC (U.S.), CONMED Corporation (U.S.), Wright Medical Group N.V. (U.S.), NuVasive, Inc (U.S.), Corin Group (U.S.), Enovis (U.S.), OsteoMed (U.S.), Invibio Ltd. (U.S.), Medtronic (Ireland), Smith+Nephew (U.K.), Integra LifeSciences (U.S.), B. Braun SE (Germany), Stryker (U.S.)
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Market Opportunities
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Market Definition
Trauma devices are one of the clinical methods that are used in trauma care based on injury severity. Trauma devices can be widely used to treat either hard tissue injury or soft tissue injury. Trauma is known as any form of physical injury caused by some external source, such as dislocations, fractures, sprains and strains and burns. The other areas covered in the trauma devices includes upper extremities and lower extremities such as joint, knee, leg, spine, and others.
Asia-Pacific Trauma Devices Market Dynamics
Drivers
- Increasing Technological Advancements
The market is boosted by technological advancements, with top market players launching an array of products through extensive research capabilities and increasing their segment portfolio through partnerships with other market players. For instance, Cardinal Health acquired the patient recovery business from Medtronic for USD 6.1 billion in 2017. The acquisition assisted the company to expand Cardinal Health’s portfolio by adding 23 product categories, which includes top market brands such as Curity, Kangaroo, Kendall, Dover, and Argyle. Thus, this boosts the market growth.
- Incidence of Road Traffic Accidents
The trauma fixation devices market is anticipated to be mainly driven by growing demand for trauma fixation devices in hospital departments and outpatient surgery. For instance, Asia-Pacific countries and territories witnessed 20 deaths per 100 000 people aged 15 years and above from road traffic accidents in 2016. Also, South-East Asia is one of the most affected regions, having 20.7 road traffic deaths per 100 000 population. In 2020, the total recorded 3,66,138 road accidents caused loss of 1,31,714 lives and injured 3,48,279 people. Thus, this increasing incidence of road accidents increased the demand of trauma devices. Thus, this factor increases the market growth.
Opportunities
- Growing Demand of Internal Fixators
There is a growing demand for internal fixators that help grow the market. Internal fixation includes healing and stabilization of broken bones with the help of plates, screws, rods, and others. Also, the demand for internal fixators is increasing due to a shorter hospital stay, less scarring and bruising, and early functionality for patients. One such internal fixator of Acumed’s wrist fixation implants, including Acu-Loc and Acu-Loc 2, witnessed sales of 0.5 million in July 2016. Thus, this factor boost the growth of the market.
- Increased R&D Activities
Several market players are investing in R&D activities associated with trauma devices. In addition, some of the major market players are opting to acquire smaller players to increase market growth. For instance, Smith & Nephew acquired Adler Mediequip Pvt. Ltd. in May 2013. The deal was done with the goal to provide the company with an entry point in the booming Indian market.
Restraints/Challenges
- High cost and Delayed Approvals of Trauma Devices
The increasing cost of trauma products, allergies associated with internal fixation devices, and the risk of infection are anticipated to grow market expansion, because of price fluctuations and a scarcity of experienced experts. Furthermore, government authorities do not rapidly approve the materials used to produce trauma products. The material used to make these implants is anticipated to be biocompatible and highly inert. Therefore, receiving permission for these devices is difficult for businesses. These factors are expected to hinder the market growth.
This trauma devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the trauma devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2020, Orthofix received the U.S. Food and Drug Administration (FDA) and CE Mark approval for its product 'JuniOrtho plating system'. This device is designed particularly for pediatric patients for advanced deformity and trauma reconstruction of the lower extremities.
Asia-Pacific Trauma Devices Market Scope
The trauma devices market is segmented on the basis of product, surgical site, tissue type, material type, patient age, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Internal Fixators
- Plates and Screws
- Rods and Pins
- Others
- External Fixators
- Uniplanar and Biplanar Fixators
- Circular Fixators
- Hybrid Fixators
Surgical Site
- Upper Extremity
- Hand and Wrist
- Shoulder
- Arm
- Elbow
- Lower Extremity
- Hip and Pelvis
- Lower Leg
- Foot and Ankle
- Knee
- Thigh
Tissue Type
- Hard Tissue
- Soft Tissue
Material Type
- Non-Absorbable
- Bio-Absorbable
Patient Age
- Adults
- Paediatric
End User
- Hospitals and Clinics
- Burn Centers
- Research Institutes
- Home Care
- Others
Trauma Devices Market Regional Analysis/Insights
The trauma devices market is analyzed and market size insights and trends are provided by product, surgical site, tissue type, material type, patient age, end user and distribution channel as referenced above.
The major countries covered in the trauma devices market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China is dominating the market because of large number of companies and increasing adoption of minimally invasive surgical procedures. Though in emerging countries such as China, Japan, it has been witnessed that there are less cases of road accidents but countries having large population and which are under developed such as India, South Korea and others have huge number of road accidents which acts as major factor for the growth of the market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Trauma Devices Market Share Analysis
The trauma devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to trauma devices market.
Key players operating in the trauma devices market include:
- Shanghai Kinetic Medical Co. Ltd (China)
- Weigao group (China)
- MicroPort Scientific Corporation (China)
- Orthofix US LLC (U.S.)
- CONMED Corporation (U.S.)
- Wright Medical Group N.V. (U.S.)
- NuVasive, Inc (U.S.)
- Corin Group (U.S.)
- Enovis (U.S.)
- OsteoMed (U.S.)
- Invibio Ltd. (U.S.)
- Medtronic (Ireland)
- Smith+Nephew (U.K.)
- Integra LifeSciences (U.S.)
- B. Braun SE (Germany)
- Stryker (U.S.)
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