External fixator devices are used to stabilize and support long bone open fractures to help the patient carry body’s weight as well as movement. Schanz screws, connecting rods, and clamps are used in case of unipolar external fixators. Circulatory fixators include circular rings, wires, connecting rods, and struts. The external fixator devices provide rigid fixation along with fixed distraction of the fracture fragments. The major advantage of external fixator devices is the ability to change dressings without disturbing the fixation system. External fixators are excellent tools to preserve tissue function in case of trauma due to their minimally invasive nature and ergonomic designs.
Rise in global prevalence rate of osteoporosis, continuous research and development activities by major players to reduce the risk of infection, increase in geriatric population which is prone to bone diseases, and surge in physician preference for minimally invasive surgeries are projected to drive the global external fixator devices market during the forecast period. The emergence of new entrants to address demand for proper care among significant population base is likely to fuel the growth of the global external fixator devices market. However, issues related to pin tract infections and neurovascular surgery are likely to restrain the global external fixator devices market.
The global external fixator devices market can be segmented based on product type, patient type, extremity, end-user, and region. Based on product type, the global external fixator devices market can be categorized into tubular fixators, circular fixators, and hybrid fixators. In terms of patient type, the global external fixator devices market can be bifurcated into adult and pediatric. Based on extremity, the global external fixator devices market can be divided into ankle and foot fractures, hip and pelvis fractures, tibia and femur fractures, hand and wrist fractures, shoulder and elbow fractures, rib fractures, and others. The prevalence of lower extremity bone fractures is relatively higher than bone fractures in upper extremities. In terms of end-user, the global external fixator devices market can be categorized into ambulatory surgical centers, orthopedic clinics, trauma centers, and hospitals.
In terms of region, the global external fixator devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a major share of the global external fixator devices market in terms of revenue during the forecast period. External fixator devices market is attributed to significant population base for degenerative disease of bones and joints, strong brand value of major players in the region, favorable reimbursement coverage for orthopedic surgical procedures, and rise in incidence rate of trauma related injuries among population aged above 65 years. The external fixator devices market in Asia Pacific is expected to expand at a relatively higher growth rate in terms of revenue from 2017 to 2025, owing to significant patient base demanding affordable care, rapid urbanization in the high growth potential developing countries, and improving health care infrastructure.
Rise in government initiatives for improvement in health care infrastructure in developing countries with advanced instrumentations as well as skilled workforce presents significant opportunity in the global external fixator devices market during the forecast period. Aggressive marketing strategies by major players to strengthen distribution network in emerging countries is a growing trend in the global external fixator devices market.
Key players operating in the global external fixator devices market are DePuy Synthes (Johnson & Johnson Services, Inc.), Zimmer Biomet, Wright Medical Group N.V., Smith & Nephew plc, Stryker, Fixus, Orthofix Holdings, Inc., SOFEMED, Integra LifeSciences Corporation, and Cardinal Health, among others.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.