Market Overview
Trauma products refer to the products that are used for the physical injuries and wounds caused by the external sources. In some of the major trauma cases, the injuries might lead to long term complications such as chronic pain, infections, and long-term disability. Trauma injuries include the injuries causing severe damage to the body parts such as fractures, dislocations, traumatic amputations, and damage to soft tissues. With the increase in incidence of accidents and natural disasters, the global trauma products market is expected to witness a considerable growth during forecast period. According to the World Health Organization (WHO), injuries accounts for 9% of the global mortalities and a large number of survivors incur temporary or permanent disabilities, in 2014. The increasing prevalence of injuries is driving the growth of the global trauma market.
Based on types of trauma products, internal fixator held the larger share of the global trauma products market in 2016, supported by their increased application for treating fractures. In fractures, orthopedic surgeons usually use internal fixators as there are no other way to treat a fracture except operations. On the basis of the surgical sites, lower extremities injuries are expected to hold the larger share of the global trauma products market, during the forecast period. As per the report of CDC on national health statistics, during the period 2011-2014, body regions injured in sports and recreational activities included 42% for lower extremities, 30.3% for upper extremities, and 16.4% for head and neck. Therefore, due to higher number of injuries in the lower extremities, trauma products are majorly used for treating injuries in the lower part of the body. Based on the end user, hospitals held the largest share of the global trauma products market in 2016, mainly due to increasing number of patients for the treatment of trauma injuries in hospitals and rise in the healthcare expenditures by the government.
Market Dynamics
Growth Drivers
Global trauma products market is expected to grow considerably during the forecast period. Some of the major factors driving growth of the market are rapid growth in geriatric population, increasing incidence of sports injuries worldwide, high prevalence of bone degenerative diseases, and increasing incidence of road accidents and falls. Trauma products are used in the treatment of injuries caused in the road accidents such as fracture, complex wounds, and dislocations. The increasing number of road accidents across the globe is expected to increase the demand for trauma products. According to WHO, in 2016 approximately 1.25 million people die every year due to road traffic crashes, and approximately 20 to 50 million people suffer from non-fatal injuries, globally.
Moreover, growing aging population is also driving the growth of the global market. According to United Nations Population Fund, people aged 60 and above accounted for 12.3% of the global population, in 2015, and it is expected to reach almost 22%, by 2050. As per the reports of the U.S. Census Bureau, world population of people aged 65 and above was 617 million in 2015 and is expected to rise to 1,566 million, by 2050.
Restraints
The allergies associated with trauma care product implantation such as swelling, rashes and irritation, and dearth of skilled professionals act as major barriers in the growth of the global trauma products market. As the treatment of injuries using trauma products is complex, thus it requires highly skilled professionals and expertise. The lack of such skilled professionals hinders the growth of the global market.
Opportunities and Trends
The key trend witnessed in the global trauma products market is the increasing number of partnership and collaboration activities among the key players in the market. These collaborations and partnerships result in the development of advanced trauma products for the treatment of injuries. The emergence of orthobiologics/biological materials and expanding need for these products in the emerging markets is creating ample opportunities for the manufacturers in the global trauma products market. The development of orthobiologics/biological materials is providing new and improved treatment methods for injuries such as knee joint injuries and other trauma cases. Moreover, the increasing expenditure on healthcare in emerging economies and increase in the spending on the treatment of various injuries and trauma problems, is expected to provide ample growth opportunities for the players in the global trauma product market.
Insights by Geography
Geographically, North America was the largest market for trauma products in 2016, followed by Europe. The North American trauma products market is primarily driven by the presence of key established players in the market, developed reimbursement policies, and the high prevalence of trauma cases and subsequent increase in trauma procedures in the region. The growth of European trauma products market is driven by increasing healthcare expenditure, and rising orthopedic trauma cases. Asia-Pacific is expected to witness significant growth during forecast period. Some of the factors driving the growth of Asia-Pacific trauma products market include, improving healthcare infrastructure, increasing number of trauma cases and growing aging population.
Competitive Landscape
The intensity of rivalry in the trauma products market is quite high with the presence of number of small and big players. Some of the key players in the global Trauma Products market are DePuy Synthes, Zimmer Biomet Holding Inc., Accumed LLC, B. Braun Melsungen AG, Citieffe S.R.L., Double Medical Inc., Medtronic plc, Wright Medical Group N.V., Orthofix Holdings Inc., Integra LifeSciences Corporation, Conmed Corporation, Cardinal Health, Arthrex Inc., Smith & Nephew, and Stryker.
In October 2016, Zimmer Biomet Holding Inc. announced an exclusive agreement with Nextremity Solutions, Inc. to globally distribute the company's foot and ankle deformity correction products. This agreement was expected to expand the foot and ankle portfolio of the company.
