Trauma Fixation Devices And Equipment Global Market Report 2021: COVID-19 Impact And Recovery To 2030

New York, June 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Trauma Fixation Devices And Equipment Global Market Report 2021: COVID-19 Impact And Recovery To 2030" - https://www.reportlinker.com/p06097018/?utm_source=GNW
, Depuy Synthes (J&J), Medtronic PLC, Orthofix Holdings Inc., and Integra LifeSciences.

The global trauma fixation devices and equipment market is expected to decline from $6.62 billion in 2020 to $6.32 billion in 2021 at a compound annual growth rate (CAGR) of -4.5%. The decline is mainly due to deferment of various bone treatments due to the outbreak of COVID-19 that has led to fall in demand for the equipment. The market is expected to reach $7.61 billion in 2025 at a CAGR of 4.8%.

The trauma fixation devices and equipment market consists of sales of trauma fixation devices and equipment and related services.Trauma fixation devices and equipment are used in the treatment of patients suffering from physical trauma.

They include internal fixation devices (plates and screws, intramedullary nails, compression hip screws, and cannulated screws) and external fixation devices (unilateral fixation, circular fixation, and hybrid fixation devices).

The market covered in this report is segmented by type into internal fixation devices, external fixation devices; by end user into hospitals, trauma centers, ambulatory surgical centers; by product type into metal plates and screws, pins/wires, nails and rods, circular fixator, hybrid fixator, unilateral fixator.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The trauma fixation devices and equipment market is driven by the increasing number of road accidents and sports injuries. According to WHO, approximately 1.35 million people die every year due to road traffic accidents. Also, around 20 to 50 million people suffer non-fatal injuries resulting in a disability. According to the National Safety Council (NSC), exercise and the use of exercise equipment led to the most injuries (526,000). Basketball players reported 500,000 injuries, whereas bicycling sports specialists accounted to 457,000 injuries and 341,000 injuries were recorded for football players. Rapid rise in road accidents and sports injuries are expected to drive the trauma fixation devices and equipment market during the forecast period.

Undertaking of strategic partnership and collaboration is the recent trend being followed by companies in the trauma fixation devices.This is due to the presence of a large number of vendors in the market, in order to maintain the market share in the competitive market and to enter into the new geographies, companies are making strategic partnerships with companies and Research Institutes.

For example, In December 2018, Medtronic in partnership with Shandong Weigao Group opened an R&D center to develop orthopedic technologies and devices for the local market which in turn helps Medtronic to expand their operations in China.

Increasing product recalls is one of the restraints for the trauma fixation treatment devices and equipment market.Product recall is a process of retrieving all faulty and defective products that have been sold or are available in the market.

When a company recalls a product from the market, the company bears the cost of fixing the defective product and cost of replacement.This replacement cost of large number of products can go up to multi-million dollars, restraining the growth of the company and for the whole market as well.

For example, in 2019, Brainlab AG recalled its spine and trauma 3D navigation software as the display was showing inaccurate details that could result in user misinterpretation during surgeries and harm the patient.

The stringent regulations and validations coupled with lengthy approval time by the US-FDA is restricting the trauma fixation devices and equipment.The US 510(k) regulatory process mandates that the manufacturers should prove that a device is substantially equivalent to a standard/earlier approved device before approval.

The trauma fixation devices needs a much longer time to prove safety and efficacy as these devices needs to be checked for innovative areas such as materials research and biodegradation.The changes in validation testing has also made the device approval or QC process quite strenuous.

In 2018, Medical Device Regulation (MDR) mandated implementation of two tests, ASTM F382 and ASTM F384 compulsory for all the trauma fixation devices in order to improve the performance and the quality of the devices. ASTM F382 is used to test the uniformity of the bone plate designs and ASTM F384 is used to compare the performance of the different angled designs.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Read the full report: https://www.reportlinker.com/p06097018/?utm_source=GNW

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