According to a research conducted by P&S Intelligence, the LATAM fracture management market is projected to generate a revenue of $1,002.9 million by 2030, rising from $592.0 million in 2019, progressing at a 5.1% CAGR during the forecast period (2020–2030).
The prevalence of osteoporosis in Latin America (LATAM) has been growing at a rapid pace. The bone diseases causes the loss of bone density, which, in turn, raises the risk of fractures in the body. In LATAM, osteoporosis is among the key causes for the growing incidence of fractures. According to the International Osteoporosis Foundation, people in the region are projected to suffer from about 655,648 hip fractures by 2050.
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It further needs to maintain the reduced position via fixation/immobilization technique, which is adequate for withstanding the potential for loss of reduction due to deformation or other external forces. Internal and external are the two types of fracture management, between which, the demand for internal fracture management is projected to increase at a rapid pace in the near future. The increasing incidence of road injuries and severe bone fractures are driving the demand for internal fracture management in LATAM.
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Fracture management products and materials are used at ambulatory surgery centers, clinics & orthopedic centers, and hospitals, out of which, hospitals are expected to create high demand for them in the coming years. These medical settings offer the best trauma management facilities, which can be ascribed to the fact that they have a 24/7 availability of staff and medical devices which are needed to treat such patients.
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