Internal Trauma Fixation Devices Market to See 6.2% Annual Growth Through 2023

Industry Boosted by Surge in Orthopedic Diseases, Aging Population

June 11, 2019

WELLESLEY, Mass., June 11, 2019–An aging population and a surge in orthopaedic diseases is helping to grow the global market for implanted bone healing devices, according to a report by BCC Research, “Global Internal Trauma Fixation Devices Market.”

The market expects to see a compound annual growth rate (CAGR) of 6.2% through 2023, when it could be worth $10.9 billion.

Major players in the market include Arthrex, Cardinal Health, Globus Medical, Medtronic, and Stryker.   

Research Highlights

  • Growth will be strongest for closure products, which anticipate at CAGR through 2023 of 6.3%, followed by bone cement at 5.2%.
  • By material, the market will be led in size by stainless steel, which had a 2018 value of $4.6 billion, followed by nitinol at $2.6 billion and titanium at $1.9 billion.
  • By end users, growth will be strongest for orthopedic surgical and trauma care centers, which expect a CAGR through 2023 of 6.3%, followed by hospitals at 6.2% and ambulatory centers at 5.6%.

“The concept of internal fixation of fractures dates back to the mid-1800s when British surgeon Joseph Lister presented Open Reduction Internal Fixation surgery to fix a fractured or broken bone,” notes report author Vijay Laxmi. “These early devices were plagued by issues such as a lack of materials, quality control, infection and biocompatibility and lack of understanding of the biology and mechanics of bone fracture healing. Advances in materials developments, mechanical testing techniques and stress analysis have significantly improved the devices.”

Nitinol Features Shape Memory, Super Elasticity

By material, growth will be quickest for nitinol, the report notes. Nitinol is an alloy with equal amounts of nickel and titanium. It features shape memory and super elasticity. Nitinol is most used for fixing spine fractures as it possesses an elastic coefficient which mimics human bones, and it is shape memory which makes it so valuable. Companies with recent patents using nitinol include NeuroPro Spinal Jaxx, MedShape, CrossRoads Extremity Systems, and Panther Orthopedics.

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Global Internal Trauma Fixation Devices Market( HLC232A )
Publish Date: May 2019    

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