PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555751
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555751
External Fixators Market size was valued at USD 1,950.21 Million in 2023, expanding at a CAGR of 7.90% from 2024 to 2032.
The external fixators market consists of devices used to stabilize and support bones from outside the body, primarily in orthopedic and trauma settings. These fixators are crucial for managing complex fractures, correcting bone deformities, and aiding in limb lengthening. They provide external stabilization and control, especially in situations where internal fixation is less feasible or in cases involving infection. Their versatility and effectiveness in various surgical scenarios drive their prominence in the market.
External Fixators Market- Market Dynamics
Rise in Incidence of Trauma and Orthopedic Injuries
The rising incidence of trauma and orthopedic injuries significantly drives the demand for external fixators. Globally, over 15 million people are living with spinal cord injury (SCI), a major cause of long-term disability that accounted for over 4.5 million years lived with disability (YLDs) in 2021. The increasing frequency of such severe injuries, including complex fractures associated with SCI, highlights the critical need for effective stabilization methods. External fixators are essential for managing these complex cases, providing precise alignment and support while minimizing complications. The high prevalence of such injuries underscores the growing need for advanced fixation solutions, contributing to the expansion of the external fixators market.
External Fixators Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.90% over the forecast period (2024-2032)
Based on Product type segmentation, Manual Fixators was predicted to show maximum market share in the year 2023
Based on Application segmentation, Fracture Fixation was the leading type in 2023
Based on Fixation Type segmentation, Circular was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global External Fixators Market is segmented on the basis of Product Type, Application, Fixation Type, End User, and Region.
The market is divided into two categories based on Product type: Manual fixators are prominent in the external fixators market due to their proven reliability, ease of use, and cost-effectiveness. These devices have been a staple in orthopedic treatment for many years, offering straightforward mechanical stabilization of fractures and deformities with minimal technological requirements. Their simplicity makes them accessible and versatile for various clinical settings, from general hospitals to specialized orthopedic clinics.
The market is divided into five categories based on Application: Fracture Fixation is the dominant segment due to the widespread use of these fixators for stabilizing and aligning fractures, particularly in complex or comminuted cases where internal fixation methods may not be suitable. The need for effective fracture management drives demand for these devices, making this segment the largest in the market. Other segments like orthopedic deformities and limb correction are also significant but generally have a smaller share compared to fracture fixation.
External Fixators Market- Geographical Insights
In North America, external fixators are widely utilized in orthopedics for managing complex fractures, limb lengthening, and deformity corrections. These devices offer stability and adjustability while minimizing the need for extensive internal surgery. Their use spans various medical settings, from major hospitals to specialized clinics. Advances in End User have led to more sophisticated designs, enhancing patient outcomes and reducing complications. Despite their benefits, external fixators require meticulous care and monitoring to prevent infections and ensure effective treatment. The landscape reflects a blend of traditional practices and cutting-edge innovations tailored to diverse clinical needs.
The external fixators market is competitive, with key players such as Stryker Corporation, Orthofix Medical Inc., Zimmer Biomet Holdings, Smith & Nephew, DePuy Synthes, B. Braun Melsungen, and NuVasive. Companies vie for market share through continuous product innovation, incorporating advanced materials and technologies to enhance functionality and patient outcomes. They also compete by securing regulatory approvals and generating robust clinical evidence to demonstrate the efficacy and safety of their products. Strategic partnerships, acquisitions, and mergers further influence market dynamics. For instance, Enovis signed a definitive agreement to acquire the SEAL external fixation product line from D.N.E. This move allows Enovis to expand its portfolio and strengthen its position in the market.
In Oct 2023, RevBio received a $3.4 million NIH grant to advance its innovative regenerative bone adhesive designed for treating complex fractures.
In June 2023, Orthofix Medical Inc. unveiled the TrueLok(TM) Phantom and Tornado Hinges, expanding its TrueLok circular frame lineup in the orthopedics sector.