A new market research report shows that the global orthopedics trauma fixation devices market will grow to $9.39 billion in 2020.
The global orthopedics trauma fixation devices market will be worth $9.39 billion in 2020, according to a report from Transparency Market Research.
A growing elderly population and increase in number of road accidents and preventive measures are some of the factors contributing to the growth. In fact between 2014 and 2020, the market will grow at the compound annual growth rate of 7.2%.
North America accounts for the lion's share of the market in the period of the forecast with Asia being the fastest-growing region for orthopedics trauma fixation devices. In 2014, the North American market is forecast to garner sales of $3.3 billion out of the overall market, which is estimated to be $6.1 billion.
As for actual device components, internal fixators, which include plates and screws, command the largest share of the market and is forecast to grow at a CAGR of 7.1% in the forecast period. Companies are also investing in new innovation by developing fixators that comprise bioabsorbable material.
DePuy Synthes is the largest player in the orthopedics trauma fixation devices market. It had a marketshare of 47.3% in 2013. Other players are Stryker, Smith & Nephew, Zimmer and Orthofix Holdings.