Market Size of Global External Fixators Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 5.40 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
External Fixators Market Analysis
The external fixators market is expected to register a CAGR of 5.4% during the forecast period (2022-2027).
The worldwide COVID-19 pandemic has eclipsed the attention of healthcare professionals, affecting all areas of health and diagnostics care. The crisis has had several indirect health effects as well. The unprecedented changes due to COVID-19 have had long-term implications on the life of people all around the globe. The COVID-19 pandemic has affected various global sectors and so had a significant impact on the external fixator market. The industry players also reported a decline in sales in the first two quarters of 2020 and then a gradual recovery afterward. For instance, the 2021 annual report of Nuvasive reported a 70% case volume decline in 2020 Q2 from the prior year, however, the market shows a subset increase in revenue, as the 2021 annual report of Orthofix reported a 6% revenue growth in 2020 Q3 from the last year.
The main driving factors also include growth in the geriatric population, high prevalence of bone degenerative diseases, and increasing incidence of sports injuries worldwide. According to the World Health Organization (WHO), in 2020, more than 1.25 million people die every year because of road traffic crashes and accidents. Road traffic injuries are the leading cause of death among people aged between 15 and 29 years. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability because of their injury. Hence, these above-stated statistics show that the increasing number of road injuries and accidents is affecting the global population, which is ultimately increasing the demand for trauma fixation devices in healthcare facilities.
The demand for external fixation devices is growing due to the advantages of advanced products such as bioresorbable implants, drug-eluting implants, and nano-coated devices. Technological advancements and other innovations are resulting in the development of advanced and pain-free surgeries. Also, the innovation of some new software in these surgical procedures is driving the market. For instance, in 2020 WishBone Medical, Inc., announced its United States Food and Drug Administration (USFDA) 510(k) clearance on its Smart Correction External Fixation System, which comprises hexapod external fixator hardware and proprietary planning software. The WishBone Medical Smart Correction System is a hexapod external fixator used to stabilize and maintain alignment of complicated fractures, soft tissues, and/or congenital deformity repairs. The System is intended for the treatment of open and closed fractures, arthrodesis, and pseudoarthrosis of long bones, as well as limb lengthening, deformity, angular correction, boney or soft tissue defect correction, and malunions. Thus, technological development is driving the market and increasing the demand for external fixators.
Thus, due to the aforesaid mentioned reasons, the external fixation segment is expected to show a significant over the forecast period. However, the availability of alternative treatments in line with the shortage of skilled orthopedic surgeons may slow down the growth of this market over the forecast period.
External Fixators Industry Segmentation
As per the scope of the report, external fixation is a surgical treatment wherein rods are screwed into the bone and exit the body to be attached to a stabilizing structure on the outside of the body. It is an alternative to internal fixation, where the components used to provide stability are positioned entirely within the patient's body. The external fixators market is segmented by Product Type (Manual Fixators, Computer-Aided Fixators), Fixation Type (Unilateral and Bilateral, Circular, Hybrid, and Other Fixation Types) Application (Orthopedic Deformities, Fracture Fixation, Infected Fracture, Limb Correction, and Other Applications) End-User (Hospitals, Ambulatory Surgical Centers, Orthopedic and Trauma Centers) and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Product Type | |
Manual Fixators | |
Computer-Aided Fixators |
By Fixation Type | |
Unilateral and Bilateral | |
Circular | |
Hybrid | |
Others |
By Application | |
Orthopedic Deformities | |
Fracture Fixation | |
Infected Fracture | |
Limb Correction | |
Other Applications |
By End-User | |
Hospitals | |
Ambulatory Surgical Centers | |
Orthopedic and Trauma Centers |
Geography | ||||||||
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Global External Fixators Market Size Summary
The external fixators market is poised for significant growth, driven by several key factors including the aging global population, the rising prevalence of bone degenerative diseases, and the increasing incidence of sports-related injuries. The market experienced a temporary setback due to the COVID-19 pandemic, which diverted healthcare resources and led to a decline in sales initially. However, the market has shown resilience and is recovering, supported by advancements in technology and the introduction of innovative products such as bioresorbable and drug-eluting implants. These technological advancements are facilitating more advanced and less invasive surgical procedures, thereby enhancing the demand for external fixation devices. The growing number of road traffic accidents and injuries further underscores the need for trauma fixation devices, contributing to the market's expansion.
Regionally, North America is expected to witness substantial growth due to its well-established healthcare infrastructure and the availability of advanced medical products. The increasing geriatric population, particularly those suffering from osteoporosis, is a significant driver of demand for external fixators in this region. The high incidence of fractures among the elderly, coupled with the rising cases of osteoporosis, necessitates the use of fixation devices to stabilize and heal bone injuries. The market is characterized by a fragmented landscape with several key players, including Johnson & Johnson (DePuy Synthes), Orthofix Holdings, Inc., and Stryker, who are actively involved in mergers, acquisitions, and technological innovations to strengthen their market positions. These developments are expected to further propel the growth of the external fixators market over the forecast period.
Global External Fixators Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Surging Road Accidents, Sports-Related and Other Injuries
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1.2.2 Rising Preference for Minimally Invasive Surgeries
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1.3 Market Restraints
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1.3.1 Availability of Alternative Treatments in line with the Shortage of Skilled Orthopaedic Surgeons
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Manual Fixators
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2.1.2 Computer-Aided Fixators
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2.2 By Fixation Type
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2.2.1 Unilateral and Bilateral
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2.2.2 Circular
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2.2.3 Hybrid
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2.2.4 Others
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2.3 By Application
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2.3.1 Orthopedic Deformities
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2.3.2 Fracture Fixation
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2.3.3 Infected Fracture
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2.3.4 Limb Correction
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2.3.5 Other Applications
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2.4 By End-User
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2.4.1 Hospitals
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2.4.2 Ambulatory Surgical Centers
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2.4.3 Orthopedic and Trauma Centers
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2.5 Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Mexico
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Italy
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2.5.2.5 Spain
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2.5.2.6 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 China
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2.5.3.2 Japan
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2.5.3.3 India
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2.5.3.4 Australia
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2.5.3.5 South Korea
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2.5.3.6 Rest of Asia-Pacific
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2.5.4 Middle-East and Africa
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2.5.4.1 GCC
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2.5.4.2 South Africa
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2.5.4.3 Rest of Middle-East and Africa
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2.5.5 South America
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2.5.5.1 Brazil
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2.5.5.2 Argentina
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2.5.5.3 Rest of South America
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Global External Fixators Market Size FAQs
What is the current Global External Fixators Market size?
The Global External Fixators Market is projected to register a CAGR of 5.40% during the forecast period (2024-2029)
Who are the key players in Global External Fixators Market?
Stryker , Zimmer Biomet , Smith & Nephew, Orthofix Holdings, Inc. and DePuy Synthes are the major companies operating in the Global External Fixators Market.