The global orthopedic trauma devices market is expected to see solid growth over the next few years, according to a Persistence Market Research report.
Here are five key trends:
1. The market was worth $5.7 billion in 2013 and is projected to be worth $9.4 billion by 2020.
2. It will grow at a compound annual growth rate of 7.20 percent from 2014 to 2020.
3. The rising incidence of fractures and sports injuries, as well as advancements in technology, is driving market growth.
4. Lack or awareness and the high cost of orthopedic trauma surgery is projected to constrain market growth.
5. Key players in the market include Orthofix, Wright Medical, Tornier, Johnson & Johnson and Stryker.