External Fixation Systems Market Size, Share, Growth, and Industry Analysis by Type (Unilateral Fixation Systems, Bilateral Fixation Systems, Hybrid Fixation Systems, Colles Fracture Fixation Systems & Circular Fixation Systems), By Application (Upper Fixation, Lower Fixation & Pediatrics), Regional Insights, and Forecast From 2024 To 2031

Updated On: 01 April 2024

External Fixation Systems Market Report Overview

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The global external fixation systems market size is USD 2095.8 million in 2022 and is expected to reach USD 4743.36 million in 2031, exhibiting a CAGR of 9.5% during the forecast period.

External fixators and other orthopedic trauma devices are primarily made to treat bone fractures and other orthopedic conditions. External fixation systems shorten the length of the procedure and require less surgery. The device has the ability to be externally adjusted in order to maintain the bones in their ideal position throughout the healing process. When the skin over the fracture has been damaged and children are involved, this device is frequently used. In comparison to other bone stabilization techniques, these systems have a number of advantages, including the capacity to offer long-term stability and the capacity to correct deformities in multiple directions.

While allowing movement of the nearby joints, the external fixators also guarantee the ideal compression, extension, or neutralization of bone placement. They not only assist in properly aligning the bones but also lessen muscle atrophy and edoema (the buildup of extra fluid) brought on by complete immobilization of a limb. The emergence of novel and cutting-edge products will probably fuel this market's expansion.

COVID-19 Impact: Industry Imbalance Causes Market Distortion

The global COVID-19 pandemic has been unprecedented and staggering, with external fixation systems industry experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 outbreak caused unstable markets, a drop in consumer confidence, and problems with import and export commerce for producers of machinery and equipment. Markets were shuttered as a result of the lockdown, and many people stayed inside. Supply chain breaches, stock market inefficiencies, and vendor instability are results of this evolution. The market as a whole was impacted by the shutdown of the machinery and equipment industry. Because there was no longer a market for the product, external fixation systems became obsolete as those markets closed. In order to maintain stability amidst the disruptions, organizations were forced to redesign their entire operational structures as a result of the pandemic. The financial imbalance brought on by the closure of numerous stores and significant sectors was the primary factor that distorted the entire market. In addition, the outbreak has a negative impact on the business operations of the enterprises, which affects the market as a whole. The market has been somewhat impacted by this.

LATEST TRENDS

"Fracture Fixation to Boost the Market Growth"

Fracture fixation is the main trend fueling market expansion. In orthopedics, fixation refers to the procedure used to immobilize an injury. When a bone is broken (or fractured), the pieces need to be moved back into place and stabilized if they are sufficiently out of alignment or potentially unstable. These are additionally known as bone resets. Fracture fixation can be done in a number of ways, and there are numerous implant types that can be used. With new technological developments and a better understanding of how fractures heal, these implants are constantly being improved. The high frequency of bone fractures is anticipated to propel the concerned market segment's growth on a global scale. The market segment is being driven by an increase in the demand for surgical external fixation systems due to the rising frequency of fractures, particularly among the elderly population. Thus, a key trend that is opening up potential for the industry to grow is the fracture fixation treatment. These new developments are mostly to blame for the market's overall growth.

External Fixation Systems Market Segmentation

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• By Types 

Based on type, the market is classified into Unilateral Fixation Systems, Bilateral Fixation Systems, Hybrid Fixation Systems, Colles Fracture Fixation Systems & Circular Fixation Systems.

• By Application

Based on the market is categorized into Upper Fixation, Lower Fixation & Pediatrics.

DRIVING FACTORS

"Rising Number of Road Accidents that Gives the Market Extra Boost"

Rising car accident rates are the primary factor driving up market revenue and sales, which is thought to be fueling demand for external fixation systems. Car accidents are frequently caused by rash driving, drinking alcohol, being tired, not understanding traffic signs, going too fast for the conditions, and breaking the law. It has been established that fractures of the fibula/tibia, pelvis, skull, and clavicle are some of the common modalities that are reported in trauma cases like car accidents and are typically fixed by the use of external fixation. As a result, the rise in traffic accidents and trauma cases is expected to increase the demand for external fixators, which will favorably affect the growth of the global external fixators market over the forecast period. As a result, the growth, and the increasing number of road traffic and incident will boost the market. It will contribute to the expansion of the machinery and equipment industry and it will improve the overall external fixation systems market growth.

"Growing Elderly Population to Encourage Market Expansion"

The growing elderly population around the world is one of the major drivers of the external fixation systems industry. Numerous bone-related disorders and degenerative bone diseases can affect the elderly. Compared to people of a younger age, the geriatric population is more prone to a variety of degenerative bone disorders. Osteoarthritis, osteoporosis, and scoliosis are a few of the common diseases associated with bones. In order to give limbs structural integrity and promote fracture healing, these disorders increase the likelihood of bone weakening and fractures, which are treated with the aid of external fixation. The development of the external fixators industry is anticipated to be aided by the factors mentioned above as well as technological developments like computer-assisted manufacturing of external fixators in the field of manufacturing of external fixator systems. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, the growing elderly population will help the market to boost.

RESTRAINING FACTORS

"High Maintenance to Impede Market Expansion"

One of the factors impeding market growth is the high cost of system maintenance and compliance related to external fixators. High chances of infection at attachment sites may also be one of the factors limiting the market's expansion for external fixators. The theft makes it more difficult for the business to turn a profit. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

External Fixation Systems Market Regional Insights

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"North America Dominating the Market Across the Globe"

The market for external fixation systems in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the external fixation systems market share is the growing demand of product in upper fixation, lower fixation & pediatrics sector is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

•   Stryker (U.S.)
•   Orthofix (U.S.)
•    Smith & Nephew (U.K.)
•   Wright Medical (U.K.)
•  Zimmer Biomet (U.S.)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost external fixation systems market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.