The global osteosynthesis devices market is poised to exhibit a CAGR of 6.20% between 2015 and 2023. The market was valued at US$6.20 bn in 2014. It is expected to reach US$11.10 bn by the end of 2023, according to a research report released by Transparency Market Research. The report, titled “Osteosynthesis Devices Market: Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023.”
Browse the full Osteosynthesis Devices Market: (By Material Type: Degradable and Non-degradable; By Type of Device: Internal Fixation and External Fixation) Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023 report at http://www.transparencymarketresearch.com/osteosynthesis-devices-market.html
According to the report, the global osteosynthesis devices market is primarily driven by a rising prevalence of osteoporosis. The market is also fueled by an increasing demand for superior facilities and devices for surgeries related to orthopedic trauma, and a greater focus shown by multinational companies in terms of investments.The global osteosynthesis devices market is also growing due to an increase in trauma and injuries related to road accidents, violence, sports, and falls.
The report’s regional overview of the global osteosynthesis devices market shows North America to have been the leader in 2014. The North America osteosynthesis devices market established its dominance through a high level of acceptance of advanced and novel technologies, the presence of a large number of key players, favorable government initiatives, and the provision of an organized reimbursement system. All these factors have increased the affordability of the otherwise high priced devices and procedures for a large percentage of the region’s population.
In a past release by the American Association of Orthopedic Surgeons, nearly US$20 bn is spent by Medicare per annum. Nearly half of these dollars are meant for orthopedic surgeries. This shows that the U.S. is the most lucrative region for the global osteosynthesis devices market, which consequently interests a large number of manufacturers who can offer branded and affordable osteosynthesis devices.
The second-largest regional market in the global osteosynthesis devices market for 2014 was Europe. This region is expected to maintain a high growth rate due to the imminent introduction of advanced biodegradable materials.
The report also sheds light on the Asia Pacific osteosynthesis devices market, which is expected to be the fastest growing region in the global market till 2023. The key advantages of this region are the low cost of production and availability of raw materials. This is a major advantage which spans across multiple industry verticals. The Asia Pacific region is also securing a large share in the global osteosynthesis devices market due to the presence of medical tourism.
The key players in the global osteosynthesis devices market are Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew plc, Precision Spine, Inc., MicroPort Orthopedics, Inc., Néosteo SAS, Life Spine, Inc., GS Medical, LLC, Globus Medical Inc., DePuy Synthes, Inc., and B. Braun Melsungen AG. Some of the key players have been detailed with respect to their product portfolio, mergers and acquisitions, regional expansions, and developments that have occurred recently.
Key segments of the Global Osteosynthesis Devices Market
Global Osteosynthesis Devices Market, by Material
- Degradable Material
- Non-degradable Material
Global Osteosynthesis Devices Market, by Device Type
- Internal Fixation Devices
- Screws and Plates
- Wires and Pins
- Intramedullary Rods and Nails
- Spinal Fixation Devices
- External Fixation Devices
- Fracture Fixation Devices
- Radius Fracture Fixation Devices
- Tibial Fracture Fixation Devices
- Pelvis Fracture Fixation Devices
- Bone Lengthening Devices
- Ilizarov Devices
- Fracture Fixation Devices
Global Osteosynthesis Devices Market, by Geography
- North America
- Rest of Europe
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Rest of the World (RoW)
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