ORTHOPEDIC TRAUMA DEVICES MARKET ANALYSIS

Orthopedic Trauma Devices MarketSize and Trends

The global orthopedic trauma devices market was valued at US$ 4.9 billion in 2016 and is expected to witness a robust CAGR of 5.3% over the forecast period (2017–2025).

Figure 1. Global Orthopedic Trauma Devices Market Value (US$ Bn), by Region, 2016

Source: Coherent Market Insights (2018)

Rising number of orthopedic trauma cases is expected to drive growth of the orthopedic trauma devices market

Trauma, which causes skeletal injury is associated with number of causes such as road accident and fall injury. Increasing number of trauma associated with road accidents and other causes is expected to propel growth of the orthopedic trauma devices market. According to Global Burden of Disease report published by Lancet in 2015, road injuries is one of leading cause amongst 20 causes of the disease burden worldwide. Rising number of fall injuries is also expected to boost orthopedic trauma devices market, as often fall injury causes dislocation and breakage of bones, which may require surgical procedure. According to World Health Organization (WHO) factsheet in 2018, each year there are around 37.3 million falls, which requires medical attention whereas estimated 646,000 individuals die from falls globally every year. Rising geriatric population would also aid in growth of the orthopedic trauma devices market, as people in this age group are more prone to bone fractures, due to fall injury and other orthopedic complications. According to a WHO factsheet, 2018, adults older than 65 years of age suffer from the greatest number of fatal falls. According to United Nation report titled World Population Prospect -the 2017 revision, global population of people aged over 60 years would rise from 962 million to 1.3 billion by 2030, which in turn could be a leading factor for increasing demand for orthopedic trauma device, over the forecast period.