(MENAFN- EIN Presswire)
Trauma Implants Market
PORTLAND, OR, UNITED STATES, November 26, 2024 /EINPresswire / -- The global trauma implants
market is experiencing significant growth, with projections indicating an increase from $8.4 billion in 2021 to $15.2 billion by 2031, reflecting a compound annual growth rate (CAGR) of 6.1% from 2022 to 2031. This expansion is primarily driven by the rising incidence of traumatic injuries, particularly those resulting from road traffic accidents, as well as an aging population more susceptible to bone fractures.
Understanding Trauma Implants
Get a Sample Copy of this Report:
Definition and Functionality
Trauma implants are specialized medical devices designed to repair fractures and other traumatic injuries to bones, including those in the shoulders, legs, arms, and skull. These implants can replace or enhance biological structures and are critical in supporting damaged bones during the healing process.
Materials Used
Trauma implants are typically manufactured from various materials:
.Metallic Materials: Commonly used metals include titanium, cobalt alloys, stainless steel, and occasionally gold.
.Bioabsorbable Materials: These are made from polymers like polyglycolic acid (PGA) and polylactic acid (PLA), which gradually dissolve in the body after fulfilling their purpose.
Market Drivers
Several factors are propelling the growth of the trauma implants market:
1.Increasing Road Traffic Accidents: The rise in road traffic accidents has led to a higher number of bone fractures. For instance, the National Crime Records Bureau reported 437,396 road accident cases in India in 2019, with a 10.5% increase in such cases noted by the National Highway Traffic Safety Administration (NHTSA) in 2021.
2.Aging Population: The World Health Organization (WHO) estimates that the number of people aged 60 years and older will rise from 1 billion in 2019 to 1.4 billion by 2030, increasing the demand for trauma implants due to higher fracture susceptibility.
3.Research and Development Initiatives: Major companies like Johnson & Johnson and Stryker Corporation are investing heavily in R&D to innovate and improve trauma implant technologies.
4.Awareness of Minimally Invasive Procedures: Growing awareness and preference for minimally invasive surgeries have also contributed to the demand for trauma implants.
Challenges Facing the Market
Despite its growth potential, the trauma implants market faces several challenges:
.Side Effects and Complications: Potential side effects such as infections and pain can deter patients from opting for these implants.
.High Surgical Costs: The financial burden associated with trauma implant surgeries can limit access for some patients.
.Regulatory Hurdles: Stringent government regulations regarding product approvals can slow down market entry for new innovations.
Market Segmentation
The trauma implants market can be segmented based on product type, material type, end user, and geography:
.By Product Type:
.Screws
.Plates
.Interlocking Nails
.Bioabsorbable Fixators
.Others
.By Material Type:
.Metallic Biomaterials (e.g., stainless steel, titanium)
.Bioabsorbable Biomaterials
.By End User:
.Hospitals
.Orthopedic Centers
.Others
.By Region:
.North America
.Europe
.Asia-Pacific
.Latin America
.Middle East & Africa
Regional Insights
North America held a significant share of the trauma implants market in 2021 due to its advanced healthcare infrastructure and presence of key industry players. However, the Asia-Pacific region is expected to witness substantial growth driven by increasing healthcare investments and rising awareness of innovative surgical techniques.
Key Players in the Market
Prominent companies operating within the global trauma implants market include:
.B. Braun Melsungen AG
.Bioreted Ltd.
.Johnson & Johnson (DePuy Synthes)
.Stryker Corporation
.Zimmer Biomet Holdings, Inc.
These companies are actively engaging in product launches and collaborations to enhance their market presence conclusion, the global trauma implants market is poised for robust growth driven by increasing injury rates, an aging population, and advancements in medical technology. However, addressing challenges related to costs and regulatory issues will be crucial for sustaining this growth trajectory.
Enquire Before Buying:
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN26112024003118003196ID1108926369
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.