PUBLISHER: The Business Research Company | PRODUCT CODE: 1455298
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455298
Osteosynthesis devices are orthopedic tools and implants designed for the fixation and maintenance of fractured or damaged bones, aiding in accelerating the recovery process and restoring bone structural integrity.
The primary categories of osteosynthesis devices include internal fixation devices and external fixation devices. Internal fixation devices are medical instruments employed during orthopedic surgery, implanted inside the body to stabilize shattered bones or address bone abnormalities. These devices are utilized for various fracture types, including hip fracture, knee fracture, spine fracture, shoulder fracture, foot and ankle fracture, facial bone fracture, among others. The materials used in these devices vary and include both non-degradable and degradable options. Osteosynthesis devices are employed by diverse end-users such as hospitals, orthopedic clinics, and ambulatory surgical centers.
The osteosynthesis devices market research report is one of a series of new reports from The Business Research Company that provides osteosynthesis devices market statistics, including osteosynthesis devices industry global market size, regional shares, competitors with an osteosynthesis devices market share, detailed osteosynthesis devices market segments, market trends, and opportunities, and any further data you may need to thrive in the osteosynthesis devices industry. This osteosynthesis devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The osteosynthesis devices market size has grown strongly in recent years. It will grow from $8.87 billion in 2023 to $9.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth observed during the historical period can be attributed to several factors, including the rising incidence of fractures, the aging population and associated osteoporosis, an increase in sports-related injuries, a preference among patients for minimally invasive procedures, a growing demand for orthopedic surgeries, and collaborative efforts between surgeons and device manufacturers.
The osteosynthesis devices market size is expected to see strong growth in the next few years. It will grow to $11.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be attributed to factors such as the increasing geriatric population, a rise in trauma cases, the prevalence of orthopedic conditions, the globalization of orthopedic care, and strategic partnerships and mergers. Major trends expected in the forecast period include the adoption of locking compression plates (LCP) technology, the development of minimally invasive osteosynthesis techniques, a focus on bioresorbable fixation systems, the integration of smart implants with monitoring capabilities, and advancements in osteosynthesis device materials.
The anticipated increase in the occurrence of road accidents is poised to drive the expansion of the osteosynthesis devices market in the future. Road accidents encompass incidents on roadways involving vehicle collisions or contact with other objects, leading to vehicle damage and injuries to those involved. These accidents often result in severe orthopedic injuries, including fractures and bone breaks. Osteosynthesis devices play a crucial role in aiding the rehabilitation and recovery of accident victims by restoring mobility and functionality. As an illustration, in May 2022, the National Highway Traffic Safety Administration, a U.S.-based government agency, reported an estimated 42,915 fatalities in motor vehicle traffic crashes in 2021, reflecting a 10.5% increase from 2020. Consequently, the surge in road accidents is a key factor propelling the growth of the osteosynthesis devices market.
A rise in the prevalence of sports injuries is also anticipated to fuel the growth of the osteosynthesis devices market. Sports injuries denote physical harm or damage to the body incurred during sports or physical activities. Osteosynthesis devices play a vital role in addressing sports injuries by providing stability and supporting the healing process of fractured bones through surgical fixation. For example, in June 2023, the Australian Institute of Health and Welfare, an Australian-based government agency, reported findings from the AusPlay survey by the Australian Sports Commission, revealing that outdoor team sports exhibited the highest reported injury rate per participant at 26% in 2022, followed by 16% in combat sports. Hence, the escalating number of sports injuries is a significant driver of the growth in the osteosynthesis devices market.
The potential for post-operative infections and other complications poses a constraint on the expansion of the osteosynthesis devices market during the forecast period. These complications have the capacity to negatively impact patient outcomes, leading to reduced patient satisfaction and a restricted adoption of osteosynthesis procedures and devices. As an example, findings reported by Annals of Joint in July 2021 indicated an overall complication rate of 11.4% following osteosynthesis surgery, with deep infection emerging as the most common problem. Moreover, the complication rate for a single surgical method was lower at 2.25%, compared to 33.3% for two approaches. Thus, the risk of post-operative infection and associated complications is impeding the growth of the osteosynthesis devices market.
Prominent companies within the osteosynthesis device market are directing their efforts toward the development of innovative variable-angle locking compression plates to enhance services for their clientele. A variable-angle locking compression plate (VA-LCP) serves as an orthopedic implant employed in fracture repair and bone restoration procedures. For instance, in June 2021, DePuy Synthes, a U.S.-based orthopedics company, introduced the 2.7-mm Variable Angle Locking Compression Plate (VA LCP) Clavicle Plate System. This novel plate system is designed for the treatment of clavicle lateral, shaft, and medial fractures of varying severity. The approach involves plate forms that consider the correlation between patient stature and clavicle size, accommodating the bow and contour of the clavicle, thus allowing for a broad range of clavicle anatomic variability. This technique offers improved plate fit, optimized fixation of fractures across all adult patient groups, and potentially reduces the need for implant removal due to plate prominence.
In October 2021, Teijin Nakashima Medical Co., Ltd., a Japan-based medical device company, acquired the spine and trauma (fracture) business of KiSCO Co., Ltd. The acquisition aims to accelerate revenue growth beyond the implantable medical device industry and expand research and development capabilities. KiSCO Co. Ltd., based in Japan, manufactures various products, including an inflatable interbody fusion PEEK cage, a spine-fusion cage system, and a posterior support plate designed for securing posterolateral bone fragments.
Major companies operating in the osteosynthesis devices market report are Medtronic PLC, Stryker Corporation, B. Braun SE, DePuy Synthes Inc., Zimmer Biomet Holdings Inc., Smith & Nephew PLC, Arthrex Inc., NuVasive Inc., CONMED Corporation, Globus Medical Inc., Bioventus LLC, LimaCorporate S.p.A., Medartis AG, Paragon 28 Inc., KLS Martin Group, Orthofix Medical Inc., Groupe Lepine SAS, Acumed LLC, Merete GmbH, Tyber Medical LLC, GPC Medical Ltd., Skeletal Dynamics LLC, Matrix Meditec Private Limited, Pega Medical Inc., Gauthier Biomedical Inc
North America was the largest region in the osteosynthesis devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the osteosynthesis devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the osteosynthesis devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The osteosynthesis devices market consists of sales of screws, plates, and intramedullary nails. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Osteosynthesis Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on osteosynthesis devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for osteosynthesis devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The osteosynthesis devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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