External fixators are orthopedic devices used to stabilize and immobilize fractures. They consist of components including pins or wires that are drilled into bones above and below the fracture site and connected together externally. They are employed in trauma surgeries to treat fractures in limbs, pelvic fractures, or in limb-lengthening procedures. External fixators provide improved patient mobility during the healing process and minimize surgical intervention for repeated wound inspection. The global External Fixators Market is driven by the increasing cases of bone fractures owing to road accidents, fall injuries, and sports injuries.
The global External Fixators market is estimated to be valued at US$ 1319.55 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing prevalence of orthopedic injuries is primarily driving the external fixators market. Road accidents, fall injuries, and sports injuries continue to contribute significantly to orthopedic trauma cases worldwide. For instance, according to data by the WHO, around 1.35 million people die each year as a result of road traffic crashes globally. Road accidents account for more than 50% of the total trauma cases globally. This has contributed to an increase in demand for external fixators which are commonly employed in trauma surgeries to treat fractures in limbs. The technology advancements in external fixators resulting in advanced mechanically stable and cosmetically acceptable frame designs are also expected to boost their adoption rates over the forecast period.
Strength: External fixators have benefits such as minimally invasive application, flexibility in positioning, and early mobilization for the patient. They allow for dynamic compression and distraction of bone fragments.
Weakness: External fixators require a second surgery for removal. They carry risks of pin tract infection, joint stiffness, and nonunion or malunion of fractures.
Opportunity: Rising number of road accidents, sports injuries, and osteoporosis cases are increasing the patient base for external fixators. Development of advanced fixator systems offers an opportunity.
Threats: Availability of alternative treatment options like intramedullary nails and plates poses competition. Reimbursement issues and high costs also act as threats.
Global External Fixators Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is estimated at US$ 1319.55 Mn and is projected to grow at a CAGR of 4.3% during the forecast period.
Regional analysis indicates that North America is currently dominating the external fixators market owing to advanced healthcare systems and availability of advanced fracture treatment options. Asia Pacific is anticipated to offer lucrative opportunities due to rising healthcare investments, road accidents, massive patient population, and increasing medical tourism.
Key players operating in the external fixators market include 3M, MAPEI S.p.A., Fosroc, Inc., Sika AG, Evonik, Chembond Chemicals Limited, ACC Limited, Flowcrete Group Ltd., SWC Brother Company Limited, and Cera-Chem Pvt. Ltd. All the major companies are focusing on new product developments and launches to consolidate their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it