London, United Kingdom (PressExposure) March 08, 2011 -- The global trauma fixation devices market is expected to grow at a CAGR of 6% from 2010 to reach $6.7 billion in 2017. The market for trauma fixation devices is expected to grow due the aging population, especially in the US, Europe, Japan and in emerging countries such as China, since fractures are more common in the elderly. According to the National Health Statistics Report published in 2010 by CDC (Center for Disease Control, US), of the 1 million fracture hospital discharges surveyed in the US in 2007, more than half (531,000) were in-patients aged 65 and above. Hip fracture is the most common type of fracture among the elderly and is one of the major factors for the loss in Disability Adjusted Life Years (DALY) for people aged over 50 worldwide. The higher incidence of osteoporosis among the elderly will further drive the growth of this market. Since the growth rate of the elderly population is faster than the overall population, the market for trauma fixation devices will continue to grow.
Further growth in the market will be caused by the shift towards operative from non-operative procedures for fractures, increase in road accidents worldwide and the growth of the construction industry - where the likelihood for trauma accidents are high - as the global economy recovers.
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Internal fixation devices are the major segment in this market and are expected to grow at a CAGR of 6% to reach $6 billion in 2017. The market will continue to grow due to the launch of new anatomically specific products with better clinical outcomes in the Lock Plating System (LCP) and due to advances in the hip fixation system. This growth is evident from the launch of products such as the LCP Periarticular Proximal Humerus Plate, LCP Fibula Plating System and LCP Clavicle Plating System in 2010 by Synthes. Other new launches in the lock plating system in 2010 included the Versatile VLP FOOT Variable-Angle Locked Plating System by Smith & Nephew and the launch of VariAx Elbow Locking Plate System, VariAx Fibula Locking Plate System and AxSOS Extremity Plating System by Stryker. Advances have also been made in the hip fracture fixation system. The launch of the Natural Nail Cephalomedullary Nail for hip fracture by Zimmer in 2010 is an example.
In addition to the new product launches, advances in minimally invasive procedures will drive the market for internal fixation devices. Success in recent clinical trials for minimally invasive procedures for common fractures, such as hip, wrist and clavicle, has boosted the confidence of companies and surgeons in the growth of this market. GlobalData's new report, "Trauma Fixation Devices - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017" provides key data, information and analysis on the global trauma fixation devices market. The report provides market landscape, competitive landscape and market trends information on the trauma fixation devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.
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