External Fixators Market is Expected to Driven By Growing Incidence of Orthopedic Diseases

 

External Fixators Market

Market Overview:

External fixators are medical devices used to stabilize bone fragments of fractures externally using pins, struts, clamps and other components. They are used to stabilize and immobilize bones and joints during the healing process of fractures, osteotomies, bone segment transport, correction of deformities and limb lengthening. External fixation systems are also used in joint fusion or distraction osteogenesis to help reshape bones. Developments in external fixator designs with enhanced stability as well as low profile components have expanded their applications in trauma and orthopedic surgeries.

Market Dynamics:
The growing incidence of orthopedic diseases and injuries, coupled with road accidents and sports injuries is a key driver fueling growth of the external fixators market. Additionally, increasing obese and geriatric populations that are more prone to bone fractures also contribute to market growth. For instance, according to International Osteoporosis Foundation, globally about 1 in 3 women and 1 in 5 men over 50 are at risk of osteoporotic fractures. Furthermore, product innovation and technological advancements in external fixator designs including wireless and circular fixators are further propelling market growth. However, complications and risks associated with pin tract infections restrict the market potential to a certain extent.

SWOT Analysis

Strength: External fixators provide minimally invasive treatment with minimal complications. The devices are flexible and adjustable which allows for the treatment of complex fractures. They offer significant cost savings compared to internal fixation devices.

Weakness: External fixators require pins or wires to be inserted through the skin which can cause pin track infection. The fixators have the potential for loosening and failure. They also require secondary procedures for removal.

Opportunity: Growing geriatric population and rising incidence of trauma and bone-related injuries provide growth opportunities. Increasing healthcare spending in emerging markets also opens new avenues.

Threats: Presence of alternative treatment options like internal fixators poses competition. Stringent regulatory approvals and rising costs of development also threaten market growth.

Key Takeaways

The Global External Fixators Market Demand is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing prevalence of musculoskeletal disorders and rising number of road accidents.

Regional analysis

North America dominates the market currently owing to presence of major players and advanced healthcare facilities. Asia Pacific is expected to exhibit fastest growth due to growing medical tourism, rising healthcare expenditure and increasing healthcare infrastructure in countries like China and India.

Key players

Key players operating in the external fixators market are Johnson & Johnson Services, Inc. (DePuy Synthes), Double Medical Technology Inc., Orthofix Holdings, Inc., Ortho-SUV Ltd., Response Ortho LLC, Smith & Nephew, Stryker Corporation, Zimmer Biomet, Auxein Medical, Acumed, Orthopaedic Implant Company, Gexfix SA, WishBone Medical, Inc., and Matrix Meditech. Stryker Corporation commands major market share owing to its extensive product portfolio and global presence.

Get more insights on this topic: https://www.insightprobing.com/external-fixators-market/

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