May 18, 2020 5:42 PM ET
iCrowd Newswire – May 18, 2020
The Global Trauma Products Market is estimated to grow at a CAGR of 5.8% during the forecast period 2019-2026. The market research study presents that the trauma products industry accounted $6.61 billion in the year 2018 and is estimated to reach $10.41 billion by the end of the year 2026.
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Body injury or wound and any physical injuries caused by external force or violence are known as trauma. Some major examples of trauma are strains, dislocations, sprains, burns and fractures among others. There are various products available in the market to treat any kind of trauma such as arc bars, power tools, angled blades, cages, medicine devices, external and internal fixators and many more.
The Global Trauma Products Market is driven by increase in number of orthopaedic diseases, growth in global geriatric population and increase in number of road accidents. However, strict government approval process for trauma products may hamper the market growth over the future period.
The research report on the global trauma products market offers the latest industry trends and future market trends, that allow to identify the products and end-users that drive the profitability and revenue growth of the global marketplace. The market research report offers an extensive analysis of geographical regions, key segments, leading market players and key determinants. Also, the market research analyst has studied competitive scenario to support new market entrants, leading market players and investors.
The report on the Global Trauma Products Market include the study across various market segments such as:
- Surgical Site
- End User
The Product Segment of the Global Trauma Products Market is Sub-Segmented into:
- Internal Fixators
- Other Internal Fixators
- External Fixators
- Unilateral & bilateral external fixators
- Circular external fixators
- Hybrid external fixators
- Other Trauma Products
The Surgical Site Segment of the Global Trauma Products Market is Sub-Segmented into:
- Upper Extremities
- Hand & Wrist
- Lower Extremities
- Hip & Pelvic
- Foot & Ankle
The End-User Segment of the Global Trauma Products Market is Sub-Segmented into:
- Hospitals & Trauma Centres
- Ambulatory surgery Centres
Geographical Overview of the Global Trauma Products Market
The global trauma products market is segmented on the basis of various geographical regions, such as:
- North America (Canada, U.S. and Mexico)
- Europe (Germany, France, UK, Italy, Spain, The Netherlands and Rest of Europe)
- Asia Pacific (Japan, China, Australia and Rest of Asia Pacific)
- LAMEA (Latin America, Middle East and Africa)
As per the regional study, North America Trauma Product Market accounted for ~50% of the market share in the global trauma products market in the year 2018. As per the viewpoint of research analyst, the region calculated to dominate the global marketplace during the forecast period 2019-2026. The regional dominance is due to high number of target population in the region, availability of advanced trauma products and increase in prevalence of orthopaedic disorders. Furthermore, the Asia-Pacific trauma product market is showing the fastest growth at a CAGR of 7.6% during the forecast period. The regional growth is attributed to increase in awareness related to benefits offered by trauma products and increase in number of incidences of bone degenerative diseases in the region.
Key Players Insights
Colfax Corporation (DJO), Stryker Corporation, Smith & Nephew, Nuvasive Inc., Medtronic PLC, Johnsons & Johnsons, Accumed LLC, Globus Medical, Inc., Zimmer Biomet Holding Inc. and B. Braun Melsungen AG among others. The market players are adopting various competitive strategies to withhold the large market share in the global trauma products market.
Impact of COVID-19 on the Global Trauma Products Market
The research report compiled by Report Ocean offers the study of market opportunities and market impact that are created due to the COVID-19 pandemic. The overall market impact of COVID-19 can be witnessed in the Q1 2020 but is anticipated to be highly impacted in subsequent quarters in the whole year. The detailed research report on the global trauma products market is focused upon all direct and indirect impact of COVID-19 with new product launches, pipeline analysis, supply chain overview, government regulations, strategies adopted by related market players and upcoming vaccines and drug status. The global trauma products market is analysed to have a negative impact due to declining per capita income of the regions, long-term impact of lockdown period and non-essential nature of the product.
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Keywords: Trauma Products Market, Trauma Products Market Size