Asia Pacific Metal Trauma Implant Market, by Product Type (Metal Plates, Metal Screws, Pins & Wires, and Others), by Material Type (Titanium, Stainless Steel, and Cobalt Chrome), by Application (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, and Others), by End User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others), and by Country (China, India, Japan, Australia, South Korea, Indonesia, Singapore, Thailand, Vietnam, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh and Rest of Asia Pacific), is estimated to be valued at US$ 4,935.2 Mn in 2021 and is expected to exhibit a CAGR of 9.2% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
The increasing incidence of spinal cord injuries in India is expected to drive the growth of the Asia Pacific metal trauma implant market over the forecast period. The incidence of spine injuries is on the rise in all developing countries such as India, Brazil and Japan. For instance, in India there are more than 200,000 cases of spinal injuries a year. Of these, 30,000 cases are related to spinal cord injury and paralysis of various degrees. Major causes are road accidents (approximately 50%), work place accidents with fall from heights (45%) and sports injuries, which are rare.
Asia Pacific Metal Trauma Implant Market– Impact of Coronavirus (COVID-19) Pandemic
The Coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 207 million cases and 4.2 million deaths due to Coronavirus (COVID-19) were reported up till August 16, 2021, across the globe.
The pandemic has negatively affected the growth of Asia Pacific metal trauma implant market by disrupting the number of orthopedic surgeries conducted in the region. For instance, according to an April 2020, article published in SAGE journals, during the COVID-19 outbreak, the Indian Ministry of Health and Family Welfare recommended all major private and public institutions to postpone or delay non critical surgical procedures. Furthermore, according to the same source, the number of Intensive Care Unit (ICU) beds available in Indian hospitals were disproportionately low and were mostly reserved for COVID-19 patients, hence this made it challenging situation for even conducting routine orthopedic surgeries thus hampering the market growth.
Browse 30 Market Data Tables and 34 Figures spread through 303 Pages and in-depth TOC on “Asia Pacific Metal Trauma Implant Market”- Forecast to 2028, Asia Pacific Metal Trauma Implant Market, by Product Type (Metal Plates, Metal Screws, Pins & Wires, and Others), by Material Type (Titanium, Stainless Steel, and Cobalt Chrome), by Application (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, and Others), by End User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others), and by Country (China, India, Japan, Australia, South Korea, Indonesia, Singapore, Thailand, Vietnam, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh and Rest of Asia Pacific)
To know the latest trends and insights prevalent in the Asia Pacific Metal Trauma Implant Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/asia-pacific-metal-trauma-implant-market-4638
Moreover, companies operating in the Asia Pacific metal trauma implant market through inorganic growth strategies such as distribution agreement are establishing a strong foothold in the region. For instance, in June 2021, Conformis, Inc. announced an agreement to enter the Asia Pacific market through an exclusive distribution relationship with XR Medical Group (Hong Kong) Limited (XR Medical). XR Medical will have exclusive rights for the sale, marketing, and distribution of Conformis’ patient-specific iTotal CR & PS total knee replacement systems, iTotal CR & PS patella devices, and iUni and iDuo partial knee replacement systems.
Key Takeaways of the Asia Pacific Metal Trauma Implant Market:
- Asia Pacific metal trauma implant market is expected to exhibit a CAGR of 9.2% during the forecast period owing to launch of new products by key players in order to expand their product portfolio. For instance, in June 2019, Siora Surgicals Pvt. Ltd., an India-based orthopedic implant and instruments manufacturer and exporter company, launched its new range of locking bone plates. These comprise of three categories of locking plate system including micro & mini locking plate, small fragment locking system, and large fragment locking plate system suited for different bones of the human anatomy.
- Based on product type, metal plates segment is estimated to account for largest market share in the Asia Pacific metal trauma implant market in 2021. Increasing research and development activities for the development of safer metallic plates is expected to increase the growth of the Asia Pacific metal trauma implant market over the forecast period.
- Among material type, titanium segment is estimated to grow with the fastest CAGR through the forecast period. The growth in the segment is owing to the improvement in titanium based implants. For instance, in 2018, Researchers from Anhui University of Science and Technology, China, used the surface mechanical attrition treatment to modify the surface of titanium. In vitro, experimental results showed that the modified surface layer can enhance the response of osteoblasts and greatly improve the biocompatibility of titanium material used for dental or orthopedic implants.
- On the basis of application, reconstructive joint replacements segment is estimated to hold a dominant position in the Asia Pacific metal trauma implant market over the forecast period. The increasing incidence of joint replacements or arthroplasty procedures in China, is expected to drive the segment growth. For instance, according to the Chinese Medical Journal: 2020, the number of cases of total hip arthroplasty (THA) increased from 168,040 in year 2011 to 577,153 in year 2019, with a 2.4-fold increase. The number of cases of total knee arthroplasty (TKA) increased from 53,880 in year 2011 to 374,833 in year 2019, with a 5.9-fold increase.
- On the basis of end user, orthopedic clinics segment is estimated to hold the largest market share in the Asia Pacific metal trauma implant market in 2021. The increasing number of orthopedic surgery specialty clinics is expected to boost the segment growth.
- Among country, China is expected to exhibit highest CAGR in the Asia Pacific metal trauma implant market over the forecast period, owing to the increasing innovation in the production of metal implants owing to the research and development activities is expected to increase the growth of the metal trauma implant in China over the forecast period. For instance, in 2018, Industrial Technology Research Institute (ITRI), Taiwan, developed 3D printing of the orthopedic implant, which matches with the anatomy of Chinese people, and are made using a metal additive manufacturing technique.
- Major players operating in the Asia Pacific metal trauma implant market include DePuy Synthes Companies (Johnson & Johnson Services, Inc.), Zimmer Biomet, Conformis, Smith & Nephew Plc., Stryker Corporation, UMA Surgicals, Acumed LLC, Orthofix Medical Inc., Siora Surgical Pvt. Ltd., Japan MDM, Inc., KYOCERA Corporation, Meril Life Sciences Pvt. Ltd., Teijin Nakashima Medical Co., Ltd., Auxein Medical Pvt. Ltd., Narang Medical Ltd., Baumer S.A., Waston Medical Co., Ltd., Precision Spine Inc., Biomed Healthtech (P) Ltd, and Matrix Meditec Pvt. Ltd.
