The External Fixation System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s External Fixation System Global Market Report 2024, The external fixation system market size has grown strongly in recent years. It will grow from $1.28 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to rising incidence of fractures and orthopedic conditions, technological advancements, increasing geriatric population, growing adoption of minimally invasive surgeries, advancements in external fixation system materials, increasing number of road accidents, and rising healthcare expenditure.
The external fixation system market size is expected to see strong growth in the next few years. It will grow to $1.90 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to advancements in automated fixation technologies, increased prevalence of orthopedic conditions, rising demand for minimally invasive surgeries, growth in outpatient surgical procedures, expanding healthcare infrastructure, increasing investments in R&D, and growing awareness about advanced treatment options. Major trends in the forecast period include integration of smart external fixation systems, technological advancements in materials, the surge in investments in healthcare infrastructure, increasing focus on patient-centric care and introduction of innovative external fixation technologies.
The rising number of road accidents is expected to propel the growth of the orthopedic healthcare market going forward. The cases of road accidents can be attributed to factors such as increased vehicle usage, distracted driving, inadequate infrastructure, and reckless behavior. External fixation systems provide stabilization for fractured bones in trauma patients, facilitating better recovery and treatment in road accident cases. For instance, in May 2024, according to a report published by Transport Canada, a Canada-based government department for transport, the number of serious injury cases in road accidents increased from 8,185 in 2021 to 8,851 in 2022. Therefore, the rising number of road accidents is driving the growth of the external fixation system.
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The external fixation system market covered in this report is segmented –
1) By Type: Unilateral Fixation Systems, Bilateral Fixation Systems, Hybrid Fixation Systems, Colles Fracture Fixation Systems, Circular Fixation Systems
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
Major companies operating in the external fixation system market are developing better fixation systems, such as pin-to-bar systems, to enhance surgical efficiency, improve patient outcomes, and provide more robust and customizable fracture stabilization solutions. A pin-to-bar system is a technique for external bone stabilization where pins in the bone are linked to an external rod for support during recovery. For instance, in September 2023, Orthofix Medical Inc., a US-based orthopedics company, launched the galaxy fixation gemini system. This external fixation system is offered in multiple sterile procedure kits, providing a ready-to-use solution. The galaxy fixation gemini ankle kit is unique as the only pin-to-bar system with specific clamps available in a sterile kit, enhancing efficiency for surgeons in urgent lower extremity trauma situations. It features a double multi-crew clamp for fast tibial half-pin insertion and includes additional kits for foot support and first metatarsal stabilization for a more robust construct.
The external fixation system market report table of contents includes:
1. Executive Summary
2. External Fixation System Market Characteristics
3. External Fixation System Market Trends And Strategies
4. External Fixation System Market – Macro Economic Scenario
5. Global External Fixation System Market Size and Growth
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32. Global External Fixation System Market Competitive Benchmarking
33. Global External Fixation System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The External Fixation System Market
35. External Fixation System Market Future Outlook and Potential Analysis
36. Appendix
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