Lower Extremities Trauma Devices Market to Grow with an Impressive CAGR During the Forecast Period
Global Lower Extremities Trauma Devices Market is
driven by advancing technologies in the forecast period, 2023-2027.
According to TechSci Research report, “Lower
Extremities Trauma Devices Market - Global Industry Size, Share, Trends,
Opportunity and Forecast, 2017-2027”, the global lower
extremities trauma devices market may show a robust growth in the forecast
years, 2023-2027 with an anticipated CAGR value. The market growth can be
attributed to the factors like increasing demands for efficient equipment and
devices to tackle the instances of trauma in lower limbs.
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.
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.
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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.
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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