External Fixation System Market
Number of pages: 100 | Report Format: PDF | Published date: March 29, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market size value in 2022 |
US$ 974.13 million |
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Revenue Forecast in 2031 |
US$ 1,558.48 million |
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CAGR |
5.36% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product, Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global external fixation system market was valued at US$ 974.13 million in 2022 and is expected to register a revenue CAGR of 5.36% to reach US$ 1,558.48 million by 2031.
External Fixation System Market Fundamentals
The major objective of external fixation is to keep the fracture length, alignment, and rotation stable. External fixation can be used for either temporary or permanent fixes. When treating fractures for open wounds, it is necessary to employ techniques that are thought to lower the risk of complications. An external fixation system should ideally be secure, non-obstructive, adaptive to various injuries, and firm enough to preserve alignment. Arthroscopic procedures are now widely used for fracture reduction and restoring the articular surface and fixation. This is largely due to the remarkable advancements in minimally invasive surgery, which have made these techniques increasingly popular, especially for fractures in the distal radius, tibial plateau, and plafond. Recently, the indirect reduction principle has been developed for external fracture fixation. Over time, the procedures and implants have undergone a significant transformation. The biological rather than the mechanical aspects of external fixation are becoming more important, and maintaining the blood flow to the bones and soft tissues is given top priority. Numerous improvements have been made to the simple and secure method of closed nailing and interlocking of the femur, tibia, and other bones. One of the most recent breakthroughs is using ultrasound to control the flow of a guide wire using a closed approach. The fracture healing process is evaluated using Doppler and ultrasound tests. The method investigates the callus and neo-vascularization morphology to forecast the progression of fracture healing. Future advancements in fracture therapy will be influenced by minimally invasive surgery and computer-aided procedures.
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External Fixation System Market Dynamics
The aging of the population, the high prevalence of bone degenerative illnesses, and the rise in sports injuries worldwide are major factors for global market revenue growth. Technology advancements, such as smart external fixators, provide therapeutic and diagnostic benefits. Smart computer-aided fixators provide surgeons with real-time information for positioning the fixator during the surgical procedure and for post-operative evaluation, enhancing patient care throughout the treatment pathway. Integrating external fixators into standard clinical practice results in significant cost savings for the healthcare system by reducing expensive complications, speeding healing, and minimizing readmissions.
The rise in various orthopedic ailments worldwide has increased the demand for external fixation systems among healthcare service providers in multiple facilities. External fixation is also widely performed owing to the rising incidence of sports injuries from increased physical activity in adults and children and the growing geriatric population. According to the U.S. Centers for Disease Control, approximately 30 million children and adults participate in sports and athletic activities yearly. The nation suffers from more than 3.5 million sports-related injuries. Additionally, most fractures and damage from accidental injuries are caused by road traffic injuries, which are the largest cause of unintentional injuries. They are the main contributor to disability-adjusted life years resulting from injuries and burden society heavily financially and socially. Despite this burden, road traffic injuries remain a widely unaddressed public health issue, particularly in low- and middle-income countries, where urbanization and motorization are expanding quickly. Therefore, increasing road accidents fuels the need for external fixation systems globally. Chronic disorders, such as diabetes and obesity, are expected to become more common, benefiting the market. Diabetes raises a person’s risk of lower limb amputation as ulcers and wounds do not heal properly. The American Journal of Managed Care reports that every day, almost 230 Americans with diabetes have a leg amputated, while a leg is amputated worldwide every 30 seconds.
However, a few complications limiting the market revenue growth are significant infection risks at attachment sites and high maintenance and compliance expenses related to external fixators. To overcome these obstacles and spur market revenue growth in the upcoming years, new advanced materials, and technologies, such as 3D printing and smart fixators, can be developed. Furthermore, it is anticipated that growing consumer knowledge of the advantages of external fixators in orthopedic operations would open up new business prospects for market participants.
External Fixation System Market Ecosystem
The global external fixation system market is analyzed from the following perspectives: product, type, application, end-user, and region.
External Fixation System Market by Product
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Based on the product, the global external fixation system market is segmented into manual fixators and computer-aided fixators.
The computer-aided fixators segment accounted for the largest revenue share of the global external fixation system market in 2022. Open shaft fractures can be treated with computer-assisted external fixation methods. They offer the opportunity for immediate or gradual adjustment. The length of the process may be reduced with preoperative planning and assistance devices with depth measures. Initially created to treat deformity correction, computer-assisted circular external fixators are now employed for fracture fixation. The following are some advantages of using computer-assisted external fixators. Minimal blood loss during installation, simple implementation, quick modification after surgery, simple handling and care of wounds, and when used with pressure to the injured bone, help fractures heal. Computer-aided external fixators can also lessen the requirement for rehabilitation time and the danger of infection, allowing patients with bone fractures to recover more quickly. Additionally, this technology offers real-time monitoring of the healing process, enabling medical professionals to modify treatment regimens as necessary.
External Fixation System Market by Type
Based on the type, the global external fixation system market is segmented into unilateral, bilateral, circular, hybrid, and others.
The circular segment accounted for the largest revenue share of the global external fixation system market in 2022. Circular fixators are more frequently employed in complex abnormalities requiring correction and lengthening in all dimensions. Because of their adaptability and accuracy, circular fixators with a hexapod system are becoming increasingly popular. It is extra comfortable for patients if the time required to apply a circular fixator during the treatment of limb abnormalities is reduced. Circular external fixation can be a flexible treatment option for extensive bone loss or comminution and inadequate soft tissue coverage in high-energy femoral fractures. Although circular fixators are rarely the first option for treating minor fractures, they are frequently chosen for complex fractures, including soft tissue damage, and have a decreased risk of infection.
External Fixation System Market by Application
Based on the application, the global external fixation system market is segmented into orthopedic deformities, fracture fixation, infected fracture, limb correction, and others.
The fracture fixation segment accounted for the largest revenue share of the global external fixation system market in 2022. Fracture fixation can be done in several ways, and numerous external fixation systems can be used. With new technological developments and a better understanding of how fractures heal, these fixation systems are always being enhanced. Surgical methods are becoming less intrusive as they lessen overall damage to the injured area and significantly preserve the local skin and muscles. The rising frequency of bone fractures is anticipated to propel the concerned market segment revenue growth on a global scale. Moreover, the increasing geriatric population and the prevalence of osteoporosis are also expected to contribute to market revenue growth as older people are more prone to bone fractures. The development of advanced surgical techniques and materials is also likely to drive the market’s revenue growth.
External Fixation System Market by End User
Based on the end user, the global external fixation system market is segmented into hospitals, ambulatory surgical centers, and orthopedic and trauma centers.
The hospitals segment accounted for the largest global revenue share in the external fixation system market in 2022. Hospitals worldwide are deploying information technology solutions quickly to improve the standard of their service offerings. The rise in outpatient hospital visits resulting from post-operative care and the availability of skilled experts are major factors in this acceptance. Implant and medical device costs can account for up to 60% of hospital payments for basic operations. A rise in the hospitalization rate for orthopedic disorders and the diversity of services offered by hospitals in one area, which is also probably the cause of segmental revenue growth, are further factors that might be related to the market revenue growth. Therefore, it is important for hospitals to carefully evaluate the costs and benefits of using different types of implants and medical devices to ensure efficient use of resources. Additionally, hospitals may need to consider investing in specialized services to meet the growing demand for orthopedic procedures.
External Fixation System Market by Region
Regionally, the external fixation system market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global external fixation system market in 2022. Due to factors including the availability of a highly established healthcare infrastructure, industry titans, and payment coverage, among others, the increase can be linked to the great demand for innovative healthcare facilities. The overall number of motor vehicle accidents predicted by the National Safety Council for 2022 was 46,270, up 9% from 42,339 in 2020 but down 2% from 46,980 in 2021. Sports injuries are becoming more common, which helps the industry expand. According to the National Safety Council, in 2021, 3.2 million people were treated in emergency departments for injuries involving sports and recreational equipment. The activities most frequently associated with injuries are exercise, cycling, and basketball. Most of these injuries were musculoskeletal, such as sprains and strains, while a smaller percentage were traumatic brain injuries. Furthermore, the industry is being further stimulated by the rising prevalence of diabetes in the nation.
External Fixation System Market Competitive Landscape
Notable market participants include:
External Fixation System Market Strategic Developments
An external fixation device is employed to maintain shattered bones stable and aligned. The device can be adjusted externally to keep the bones in the best position possible during healing.
The computer-aided fixators segment accounted for the highest revenue of the global external fixation system market.
The high maintenance cost and post-surgery complications hinder the revenue growth of the global market.
Key companies operating the global External Fixation System market are Johnson & Johnson Services, Inc. (DePuy Synthes), Orthofix Holdings, Inc., Ortho-SUV Ltd., Response Ortho LLC, and Smith & Nephew.
The global external fixation system market is expected to register growth at a revenue CAGR of 5.36% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain