New York, USA, Sept. 01, 2022 (GLOBE NEWSWIRE) — The Global External Fixation Systems Market to Witness Growth at a CAGR of 5.62% During the Study Period (2019–2027) | DelveInsight
The external fixation systems market is anticipated to surge due to the factors such as the increasing prevalence of degenerative bone disorders such as osteoporosis and osteoarthritis. Another prominent factor contributing to product demand growth is the surge in the global increase in the geriatric population base, who form a major section of the patient pool of fractures due to frequent falls and degenerative bone diseases. The increasing focus on product development activities with the latest innovation with respect to external fixators also plays a key role in establishing a positive growth trend in the external fixation systems market during the forecast period from 2022 to 2027.
DelveInsight’s External Fixation Systems Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, external fixation systems market drivers, barriers, and trends, and key external fixation systems companies in the market.
Key Takeaways from the External Fixation Systems Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global external fixation systems market during the forecast period.
- Notable external fixation systems companies such as DePuy Synthes (Medical Devices Business Services, Inc), Orthofix Medical Inc, Stryker Corporation, Smith & Nephew, Acumed, Zimmer Biomet, Baumer S.A., Globus Medical, Orthosynthesis (Ortosintese), Mikai S.p.A, SOFEMED, Advanced Orthopaedic Solutions., Fixus B.V., Tasarimmed Tıbbi Mamuller San. Tic A.Ş., Zimed Medikal, NUTEK ORTHOPEDICS, Double Medical Technology Inc., Auxein Medical, Wishbone Medical Inc, Aike (Shanghai) Medical Equipment Co., Ltd., Orthospin, and several others are currently operating in the external fixation systems market.
- In March 2022, Orthofix Medical Inc received regulatory approval from the U.S. Food and Drug Administration 510(k) and the first patient cases with the TrueLok™ EVO Ring Fixation System. Designed for complex limb reconstruction and deformity correction procedures, the TrueLok EVO system. It is the market’s only circular fixator that features radiolucent rings and struts to enable clear radiographic visualization.
- In November 2021, Paragon 28, Inc was granted regulatory approval by the US FDA for its circular external fixation system. The system was expected to be launched in early 2022.
- In January 2021, Orthospin received US FDA approval for their robotic external fixation system.
- In October 2020, Wishbone Medical Inc received product approval from the US FDA for their pediatric external fixation system.
- Thus, owing to such market developments, rapid growth will be observed in the external fixation systems demand during the forecast period.
To read more about the latest highlights related to the external fixation systems market, get a snapshot of the key highlights entailed in the Global External Fixation Systems Market Report
External Fixation Systems
An external fixator device is screwed into fractured bones to exit the skin and connect to a stabilizing structure outside the body. External fixation is a well-established technique for stabilizing a variety of fractures and also aids in bone lengthening.
External fixators shorten treatment time and necessitate less surgical intervention. Computer-aided external fixators have become increasingly popular for fracture fixation and deformity correction in recent years. External fixators that are computer-aided can work with or without computer-aided solution software. A computer-aided external fixator is a six-axis external fixator with multi-planer corrections, increased accuracy, and fewer complications.
External Fixation Systems Market Insights
The global external fixation systems market is studied geographically for North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to amass a significant revenue share in the global external fixation systems market during the forecast period, with the largest market share. This can be attributed to the region’s high prevalence of osteoarthritis, osteoporosis, and other bone diseases, rising elderly population, increasing number of road accidents and trauma cases, and other factors. Furthermore, high disposable income, sophisticated healthcare infrastructure, and increased awareness of new treatments are expected to contribute to the growth of the external fixator devices market in this region. However, the European external fixation systems market will majorly challenge North America’s dominance.
The high prevalence of osteoporosis in North American countries such as the United States is one of the key factors driving the growth of the North American external fixator devices market. Furthermore, the Asia Pacific region has future growth potential in the external fixation systems market. This is due to the presence of a large patient pool suffering from musculoskeletal conditions.
To know more about why North America is leading the market growth in the external fixator devices market, get a snapshot of the External Fixation Systems Market Share
External Fixation Systems Market Dynamics
The global external fixation systems market is expected to expand significantly due to an increase in the number of road accidents and trauma cases resulting in extremity fractures. Furthermore, the global increase in the geriatric population plays a significant role in the growth of external fixation systems, as aging increases the chances of developing degenerative bone disorders, which may increase the chances of bone fractures in the elderly population. Furthermore, technological advancements have increased interest in developing devices made using computer-aided design (CAD)- smart external fixation systems, which is another factor driving the growth of the external fixation systems market.
However, the high maintenance and compliance costs associated with external fixators and the high risk of infection at attachment sites may be some of the external fixators market’s limiting factors.
Additionally, the external fixation systems market suffered a temporary setback as lockdown restrictions were imposed as a necessary step to slow the spread of COVID-19. One of the most significant steps taken during this period was the suspension of numerous elective procedures and outpatient visits, which reduced demand for external fixation systems in the market because a large number of surgeries across various medical specialties were suspended during the initial lockdown period, thereby limiting market growth for a short period. Furthermore, the lockdowns restricted outdoor recreational activities and road movement, resulting in fewer incidents of road accidents in general compared to previous years and fewer cases associated with orthopedic injuries during the lockdown period.
Nonetheless, the external fixators devices market is in a period of recovery, with the resumption of activities across various domains, including healthcare services, as a result of the approval and administration of numerous COVID-19 vaccines around the world, presenting a positive future outlook for the external fixation systems market from 2022–2027.
Scope of the External Fixation Systems Market Report
- Coverage: Global
- Study Period: 2019–2027
- Market Segmentation By Product Types of External Fixator Devices: Unilateral, Circular, Hybrid, and Others
- Market Segmentation By Application: Upper Extremity, Lower Extremity, and Other
- Market Segmentation By Manufacturing Technique: Conventionally-Made and Computer-Aided
- Market Segmentation By End User: Hospitals, Specialty Clinics, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Key External Fixation Systems Companies: DePuy Synthes (Medical Devices Business Services, Inc), Orthofix Medical Inc, Stryker Corporation, Smith & Nephew, Acumed, Zimmer Biomet, Baumer S.A., Globus Medical, Orthosynthesis (Ortosintese), Mikai S.p.A, SOFEMED, Advanced Orthopaedic Solutions., Fixus B.V., Tasarimmed Tıbbi Mamuller San. Tic A.Ş., Zimed Medikal, NUTEK ORTHOPEDICS, Double Medical Technology Inc., Auxein Medical, Wishbone Medical Inc, Aike (Shanghai) Medical Equipment Co., Ltd., Orthospin, among others
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
DelveInsight Analysis: The external fixation systems market size is expected to grow at a CAGR of 5.62% to reach USD 1.26 billion by 2027.
Which MedTech key players in the external fixation systems market are set to emerge as the trendsetter explore @External Fixation Systems Companies
Table of Contents
|3||Regulatory and Patent Analysis|
|4||Key Factors Analysis|
|5||Porter’s Five Forces Analysis|
|6||COVID-19 Impact Analysis on External Fixation Systems Market|
|7||External Fixation Systems Market Layout|
|8||Global Company Share Analysis – Key 3-5 Companies|
|9||External Fixation Systems Market Company and Product Profiles|
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