"External Fixators Market to Exhibit Healthy Growth during the Forecast Period between 2018 & 2026"

The global external fixators market accounted for a value of US$ 724.6 Mn in 2017 and expected to attain US$ 1,653.0 Mn by 2026. Growth drivers of the market are globally surge in the number of road accidents & sports-related injuries, growing elderly population base along with rising incidence of limb deformities, introduction of technologically advanced external fixators, and increasing preference for minimally invasive surgeries (MISs). Worldwide surge in the number of road accidents and sports-related injuries causing bone & joint injuries is propelling the demand for external fixators. According to the World Health Organization (WHO), around 1.25 Mn individuals die every year in road accidents across the globe. As per the research data published by American Orthopaedic Society for Sports Medicine (AOSSM), every year, more than 3.5 Mn athletes receive medical treatments caused by sports injuries. Additionally, nearly 30.0 Mn children and adolescents participate in youth sports in the U.S. annually. This rise in sports activities increases the risks of injury incidents in athletes that fuels the demand for external fixators.

"The Circular & Modular External Fixators Segment is expected to continue the Dominance over the Forecast Period Between 2018 & 2026"

Circular fixators such as Ilizarov and TAYLOR SPATIAL FRAME (TSF) are versatile fixators consisting of several rings or arches connected to each other by connecting rods and are fixed to the bones with the help of tensioned wires. The modular external fixators enable the surgeon to minimize the fracture by manipulation. The circular & 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, majorly in open fracture procedures. In addition, circular fixators is an incision-free or minimally invasive technique that causes minimal lesser infections, tissue trauma, and hemorrhage; and soft tissue damage, thereby supporting the dominance.

"The Fracture Fixation Segment is expected to Register Comparatively Higher CAGR during the Forecast Period"

The fracture fixation segment would witness promising sales forecast during the forecast period attributed to rising application of external fixators in open & closed fracture procedures such as a tibia fracture and unstable radius fracture respectively. These devices are used to stabilize the fractured/broken bones till full recovery or healing.

"North America to Hold Supremacy due to the Presence of Supportive Healthcare Infrastructure and Key Market Players Headquartered"

North America would continue to grab the lion’s share of market throughout the forecast period owing to the presence of major market contributors & well-established healthcare infrastructure, supportive reimbursement & 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 & affordable healthcare. Moreover, the existence of sophisticated diagnostics capabilities in China, India, Japan, and Australia; and rising prevalence of osteoporosis in Australia and New Zealand is expected to facilitate the adoption of external fixators. Osteoporosis Australia stated that currently, osteoporosis disease affected more than 1.0 Mn Australians; while according to the Burden of Osteoporosis in New Zealand (BONZ) report, a number of fractures caused due to osteoporosis at all sites in the skeleton were 84,000 cases in 2007 is projected to reach 116,000 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 are new product launches, collaborations & partnerships, operational & geographical expansion, divestitures, and mergers & acquisitions. In October 2017, DePuy Synthes, a Johnson & Johnson Services, Inc. company launched the first 3D simulation assisted orthopedic external circular fixation device namely MAXFRAME Multi-Axial Correction System. This device is used to progressively correct bone & soft tissue deformities in the leg, arm, and 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 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 & 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 products’ launches.

The current report also covers qualitative & quantitative analysis of market variables such as key market drivers, restraints, opportunities, and trends which convey comprehensive market information of the overall external fixators. In addition, the report also embraces a graphical illustration of the competitive landscape based on their market initiatives & 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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of External Fixators market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the External Fixators market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of External Fixators market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the External Fixators market?
• Which is the largest regional market for External Fixators market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving External Fixators market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the External Fixators market worldwide?