The global orthopedic trauma fixation devices market is expected to grow to $9.3 billion by 2020, according to a Transparency Market Research report.
The market was estimated at $6.1 billion in 2014 and is expected to grow at a compound annual growth rate of 7.2 percent from 2014 to 2019.
Some of the key driving factors for the market include increase in the elderly population, growing healthcare costs as well as rising prevention measures for various orthopedic-related problems. North America has the largest orthopedic trauma fixation devices market, while Asia's market is the fastest growing.
Internal fixators have the largest market share in the orthopedic trauma fixation devices market and are expected to grow at a compound annual growth rate of about 6.8 percent from 2014 to 2020. Plate and screw systems are the most widely used internal fixators and the market for such systems is expected to grow at a compound annual growth rate of about 7.1 percent in the next five years or so.
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