Market Trends of Global External Fixators Industry
This section covers the major market trends shaping the External Fixators Market according to our research experts:
Fracture Fixation is Expected to Witness Significant Growth over the Forecast Period
Fixation in orthopedics is the process by which an injury is rendered immobile. When a bone is broken (or fractured) and the pieces are sufficiently out of alignment or potentially unstable, then they need to move back into position and stabilized. These are also referred to as bone resets.
There are various methods to perform fracture fixation and certainly various types of implants that can be considered. These implants are being improved upon very frequently with new technological advancements and with a better understanding of how fractures heal best. The surgical procedures themselves are now becoming more and more minimally invasive as they decrease the overall trauma to the area of injury and protect the local skin and muscles to a much greater extent. The high incidence of bone fractures is expected to drive the growth of the concerned segment of the market across the globe. For instance, in 2021 an article titled, 'The Incidence of Fractures Among the Adult Population of Germany' the incidence of fractures rose by 14%, to 1,014 fractures per 100,000 persons per year over the last decade. The same article also quoted that the most common fracture types were femoral neck fractures (120 per 100,000 persons per year), pertrochanteric femoral fractures (109 per 100,000 persons per year), and distal radius fractures (106 per 100,000 persons per year). The increasing frequency of fractures, particularly among the elderly population is increasing the demand for external fixation surgical treatment, thereby driving the market segment.
Thus, due to the aforesaid mentioned reasons, the external fixation segment is expected to show a significant over the forecast period.
North America is Expected to Dominate the Global External Fixators Market over the Forecast Period
North America is expected to witness a surge in the future due to the easy availability of technologically advanced products, well-established healthcare infrastructure, an increasing number of geriatric patients suffering from osteoporosis and other bone diseases, and increasing incidents of burn cases.
The United States Population Aging 2021, data reported that the number of Americans aged 65 and older will more than double over the next 40 years, reaching 80 million in 2040. The number of adults aged 85 and older, the group most often needing help with basic personal care, will nearly quadruple between 2000 and 2040. Thus, the increasing geriatric population increases the risk of fractures, thereby increasing the demand for fixators to fix the damaged bones, thus contributing to the market growth. Another reason for the increase in the demand for external fixators is the increase in osteoporosis disease among the United States geriatric population. For instance, in 2022 an article published in the Journal Frontiers in Endocrinology, titled, 'The Global Burden of Osteoporosis, Low Bone Mass, and Its Related Fracture in 204 Countries and Territories' reported that approximately 10 million adults in the United States have osteoporosis, and 44 million have a low bone density (osteopenia) and 54 million Americans, half of all adults age 50 and older, are at risk of breaking a bone and should be concerned about bone health. Thus, the high cases of osteoporosis result in to increase in fractures and thus, increasing the demand for fixators thereby driving the market.
Recent acquisitions, mergers, launches, and technological advancements in the area are also contributing to the growth of this market in that area. For instance, in 2022, Orthofix Medical Inc. and LimaCorporate S.p.A. announced a licensing partnership to provide a solution to the United States market for patients suffering from chronic high dislocation of the hip. For another instance, in September 2021, Stryker introduced the new Citrelock Tendon Fixation Device System. This device enables the fixation without causing damage to the tendon during placement.
Thus, due to aforesaid mentioned reasons, the market is expected to show significant growth over the forecast period in the region.
