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External Fixators Market By Product (Unilateral & Modular External Fixators, Circular & Modular External Fixators), By Application (Orthopedic Deformities, Fracture Fixation, Limb Correction, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

External Fixators Market to Exhibit Healthy Growth Between 2018 and 2026

The global external fixators market was worth US$ 724.6 million in 2017 and is expected to be worth US$ 1,653.0 million by 2026. Growth drivers of the market are a worldwide surge in the number of road accidents and sports-related injuries, a growing elderly population base along with rising incidences of limb deformities, the introduction of technologically advanced external fixators, and an increasing preference for minimally invasive surgeries (MISs). A worldwide surge in the number of road accidents and sports-related injuries causing bone and joint injuries is propelling the demand for external fixators. According to the World Health Organization (WHO), around 1.25 million individuals die every year in road accidents across the globe. As per the research data published by the American Orthopaedic Society for Sports Medicine (AOSSM), every year, more than 3.5 million athletes receive medical treatments caused by sports injuries. Additionally, nearly 30 million children and adolescents participate in youth sports in the U.S. annually. This increase in sports activities raises the risk of injury in athletes, fueling the demand for external fixators.

Market Synopsis

The Circular and Modular External Fixators Segment is expected to continue its dominance over the forecast period between 2018 and 2026.

Circular fixators such as Ilizarov and the Taylor Spatial Frame (TSF) are versatile fixators consisting of several rings or arches connected to each other by connecting rods and fixed to the bones with the help of tensioned wires. The modular external fixators enable the surgeon to minimize the fracture through manipulation. The circular and modular external fixators segment dominated the market in 2017 as it is a stable construct and allows accurate and complete 3D correction of bony deformities, mostly in open fracture procedures. Furthermore, circular fixators are an incision-free or minimally invasive technique that results in fewer infections, tissue trauma, hemorrhage, and soft tissue damage, supporting the dominance.

BThe fracture fixation segment would witness a promising sales forecast during the forecast period, attributed to the rising application of external fixators in open and closed fracture procedures such as a tibia fracture and an unstable radius fracture, respectively. These devices are used to keep fractured or broken bones stable until they heal completely.

North America will maintain its dominance due to the presence of supportive healthcare infrastructure and key market players headquartered in the region.

North America would continue to grab the lion’s share of the market throughout the forecast period owing to the presence of major market contributors and well-established healthcare infrastructure, supportive reimbursement and coverage for orthopedic surgical procedures, and a surge in the number of road accidents and sports-related injuries in the U.S. and Canada. Conversely, Asia Pacific would exhibit the fastest market growth throughout the forecast period due to growing awareness about orthopedic surgeries coupled with increasing demand for quality and affordable healthcare. Moreover, the existence of sophisticated diagnostic capabilities in China, India, Japan, and Australia and the rising prevalence of osteoporosis in Australia and New Zealand are expected to facilitate the adoption of external fixators. Osteoporosis Australia stated that currently, osteoporosis disease affects more than 1 million Australians, while according to the Burden of Osteoporosis in New Zealand (BONZ) report, the number of fractures caused by osteoporosis at all sites in the skeleton was 84,000 cases in 2007 and is projected to reach 116,000 cases by 2020 in the country.

The presence of multinational market players makes market penetration challenging for new entrants.

Key participants in this vertical are Stryker Corporation; DePuy Synthes (Johnson & Johnson Services, Inc.); Smith & Nephew plc; Medtronic Kanghui Orthopedics (Medtronic plc); DJO Global, Inc.; Zimmer Biomet Holdings, Inc.; Orthofix International N.V.; Response Ortho LLC; Wright Medical Group N.V.; and Integra LifeSciences Corporation. Various growth strategies implemented by these companies include new product launches, collaborations and partnerships, operational and geographical expansion, divestitures, and mergers and acquisitions. In October 2017, DePuy Synthes, a Johnson & Johnson Services, Inc. company, launched the first 3D simulation-assisted orthopedic external circular fixation device, namely the MAX FRAME Multi-Axial Correction System.

This device is used to progressively correct bone and soft tissue deformities in the leg, arm, foot, or ankle in order to improve the accuracy of deformity correction with procedural efficiency, thereby curtailing overall treatment duration and reducing costs. Additionally, the Orthopaedic Implant Company (OIC) launched the OIC External Fixation System in the meeting hall of the Vancouver Convention Center (Canada) at the 2017 Annual Meeting of the Orthopaedic Trauma Association (OTA). In 2011, Zimmer Holdings, Inc. acquired ExtraOrtho, Inc., a Memphis-based medical device firm, to build a wide-ranging portfolio of external and internal fixation devices. On the contrary, external fixators are anticipated to be highly competitively priced in the near future due to the emergence of new market entrants and innovative product launches.

Periods of History and Forecast

This study report includes an analysis for each segment from 2016 to 2026, with 2017 as the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2018 to 2026.

Report Scope by Segments

The external fixators market focuses on the qualitative and quantitative analysis of current market dynamics. The report encompasses all-inclusive information on the global external fixators market by segmenting the market on the basis of product, application, and geography. This report will comprehend the role of industry investors and associations, medical device industry players, venture capitalists, suppliers and distributors of medical devices, research and consulting firms, healthcare professionals (HCPs), and research and academic institutes in decision-making and strategizing the market position.

The current report also covers a qualitative and quantitative analysis of market variables such as key market drivers, restraints, opportunities, and trends, which convey comprehensive market information about the overall external fixators. In addition, the report also embraces a graphical illustration of the competitive landscape based on their market initiatives and strategies, product portfolio, financial information, and key developments. Major market players profiled in this study report are Stryker Corporation; DePuy Synthes (Johnson & Johnson Services, Inc.); Smith & Nephew plc; Medtronic Kanghui Orthopedics (Medtronic plc); DJO Global, Inc.; Zimmer Biomet Holdings, Inc.; Orthofix International N.V.; Response Ortho LLC; Wright Medical Group N.V.; and Integra LifeSciences Corporation.

Key questions are answered in this report.

  • What are the current market trends and dynamics in the external fixators market, and what are the valuable opportunities for emerging players?
  • Which product contributes to the maximum market share?
  • Which product accounts for the fastest CAGR during the forecast period?
  • Which application holds the highest market share?
  • Which application would register a comparatively higher CAGR over the forecast period?
  • What is the impact of high-cost external fixators on the market?
  • Are low- and middle-income economies investing in the market for external fixators?
  • What are the market trends and dynamics in emerging markets such as Latin America, the Middle East, and Africa?

Frequently Asked Questions:

The market for External Fixators Market is expected to reach US$ 1,653.0 Mn By 2026.

The External Fixators Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Stryker Corporation; DePuy Synthes (Johnson & Johnson Services, Inc.); Smith & Nephew plc; Medtronic Kanghui Orthopedics (Medtronic plc); DJO Global, Inc.; Zimmer Biomet Holdings, Inc.; Orthofix International N.V.; Response Ortho LLC; Wright Medical Group N.V.; and Integra LifeSciences Corporation. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Sep 2018
Category:  Medical Devices
Report ID:   59346
Report Format:   PDF
Pages:   120
Rating:    4.4 (69)
Delivery Time: 24 Hours to 48 Hours   
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