The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s External Fixation System Global Market Report 2024, the external fixation system market is expected to show significant growth in the forecast period.

The external fixation system market has experienced robust growth in recent years. In 2023, the market was valued at $1.28 billion and is projected to reach $1.39 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.1%. Key factors driving this growth include:

• Rising incidence of fractures and orthopedic conditions
• Technological advancements in fixation systems
• Increasing geriatric population
• Growing adoption of minimally invasive surgeries
• Advances in fixation materials
• Increased number of road accidents
• Rising healthcare expenditure

Future Market Growth Forecast

The external fixation system market is set for continued strong growth, projected to reach $1.90 billion by 2028, with a CAGR of 8.2%. Key drivers for this growth include:

• Advancements in automated fixation technologies
• Increased prevalence of orthopedic conditions
• Rising demand for minimally invasive surgeries
• Growth in outpatient surgical procedures
• Expansion of healthcare infrastructure
• Increased R&D investments
• Growing awareness of advanced treatment options

View More On The External Fixation System Market Report 2024 – https://www.thebusinessresearchcompany.com/report/external-fixation-system-global-market-report

Trends Shaping the External Fixation System Market

Several significant trends are expected to influence the market:

• Integration of smart external fixation systems
• Technological advancements in fixation materials
• Surge in investments in healthcare infrastructure
• Increased focus on patient-centric care
• Introduction of innovative external fixation technologies

Increasing Road Accidents Driving Market Growth

The rising number of road accidents is a major factor driving the growth of the external fixation system market. Contributing factors include:

• Increased vehicle usage
• Distracted driving
• Inadequate infrastructure
• Reckless behavior

External fixation systems are crucial for stabilizing fractured bones in trauma patients, facilitating better recovery. For instance, in May 2024, Transport Canada reported an increase in serious injury cases from road accidents, with the number of cases rising from 8,185 in 2021 to 8,851 in 2022.

Key Players in the External Fixation System Market

Several major companies are leading the external fixation system market, including:

• Johnson & Johnson Services Inc.
• Medtronic Plc
• Stryker Corporation
• Zimmer Biomet Holdings
• Smith & Nephew plc

These companies are investing in R&D to develop advanced fixation systems and expand their market presence.

Technological Advancements in External Fixation Systems

Innovative advancements are enhancing the effectiveness of external fixation systems. For example:

• The pin-to-bar system for external bone stabilization improves surgical efficiency and patient outcomes.
• In September 2023, Orthofix Medical Inc. launched the Galaxy Fixation Gemini System, featuring a pin-to-bar system with specific clamps available in a sterile kit, designed to enhance efficiency in urgent trauma situations. The system includes a double multi-crew clamp for fast tibial half-pin insertion and additional kits for robust support.

Mergers and Acquisitions Enhancing Market Capabilities

Strategic mergers and acquisitions are shaping the external fixation system market. Notably:

• In December 2021, DePuy Synthes acquired OrthoSpin Ltd., aiming to enhance its external ring fixation system. This acquisition integrated OrthoSpin’s automated strut technology with DePuy Synthes’ MAXFRAME Multi-Axial Correction System, advancing smart external fixation solutions.

Market Segmentation

The external fixation system market is segmented into:

1. By Type: Unilateral, Bilateral, Hybrid, Colles Fracture, Circular
2. By Manufacturing Technique: Conventionally-Made, Computer-Aided
3. By Application: Orthopedic Deformities, Fracture Fixation, Infected Fracture, Limb Correction, Other Applications
4. By End User: Hospitals, Ambulatory Surgical Centers, Orthopedic and Trauma Centers

Regional Outlook

In 2023, North America was the largest region in the external fixation system market. However, the Asia-Pacific region is expected to experience the fastest growth during the forecast period due to increasing healthcare investments and improved access to advanced medical technologies.

The external fixation system market is on a strong growth trajectory, driven by technological advancements, rising accident rates, and expanding healthcare infrastructure, promising enhanced patient care and treatment outcomes.

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