The global distal compression plates market size is likely to reach US$ 6.4 Bn in 2032 and exhibit astonishing growth at a CAGR of 4.9% in the forecast period from 2022 to 2032. Increasing prevalence of bone disorders worldwide is anticipated to propel the demand for distal compression plates in future. As per FMI, the global compression plates market is set to be valued at US$ 3.1 Bn in 2022.
| Report Attribute | Details |
| Distal Compression Plates Market Estimated Base Year Value (2021) | US$ 2.8 Bn |
| Distal Compression Plates Market Expected Market Value (2022) | US$ 3.1 Bn |
| Distal Compression Plates Market Anticipated Forecast Value (2032) | US$ 6.4 Bn |
| Distal Compression Plates Market Projected Growth Rate (2022-2032) | 4.9% CAGR |
Distal compression plates are mainly used to fix the distal radial fractures. These are considered to be the most common type of fractures that are related to the upper limbs.
Sales of distal compression plates are likely to grow at a rapid pace in the near future owing to the rising occurrence of distal radius fracture in the wrist joint among people. These plates can not only provide stability to the bone, but also fix the bone structure.
The rising acceptance of bone replacement products that are significant for replacing or filling in the entire section after tumor removal or accident, is anticipated to drive the market in the forecast period.
Moreover, the cost-effectiveness of bone replacement procedures and improved quality of life are likely to push the need for distal compression plates. Increasing geriatric population and rising prevalence of traumatic injuries across the globe are some of the other crucial factors that are projected to bolster growth.
Increasing number of road accidents occurring on high-speed roads on a daily basis is a major factor that is projected to spur the distal compression plates market growth in the evaluation period. As per the World Health Organization (WHO), nearly 1.3 million people die every year due to road traffic crashes worldwide. This number is estimated to surge in future, thereby pushing the need for distal compression plates.
In addition to that, the ever-increasing geriatric population prone to bone disorders is set to drive the market. Osteomyelitis, for instance, is a commonly occurring bone infection among the aging population that can spread through the bloodstream and destroy the bone. It often occurs because of the direct contamination with germs amid surgeries related to the replacement of joints.
The high cost of various bone replacement surgeries is a significant factor that may obstruct the expansion of the distal compression plates market size. Besides, numerous ethical issues associated with bone grafting procedures can act as another major restraint of the global market. The COVID-19 pandemic that started back in December 2019 had also affected the market to a certain extent with the postponement or cancellation of non-essential surgical procedures.
Based on region, North America is set to remain at the forefront by procuring the largest distal compression plates market share in the evaluation period. The presence of a well-established healthcare infrastructure and increasing investments by governments in the development of novel medical devices are expected to bolster the regional market.
Further, the rising demand for advanced treatment procedures owing to the high disposable income of people in the U.S. and Canada is likely to contribute to this growth. Increasing geriatric population is another vital factor that is estimated to boost the market. As per the U.S. Census Bureau, older adults belonging to the age group of 65 years and above are likely to reach 77.0 million by 2035. This trend is set to continue and propel the North America market.
Asia Pacific is expected to remain in the second position throughout the forthcoming years backed by the rising prevalence of orthopedic disorders in India and China. Governments of these countries are supporting the development of healthcare infrastructures by investing more in hospitals and clinics.
According to the India Brand Equity Foundation (IBEF), the country’s healthcare industry is likely to reach US$ 372 Bn in 2022 and grow at a CAGR of 22% between 2016–2022. It also mentions that the healthcare infrastructure in this country is projected to be valued at US$ 349.1 B by FY22. This factor is set to spur the Asia Pacific market in the near future.
Some of the prominent companies operating in the global distal compression plates market include Skeletal Dynamics LLC, Stryker, JEIL Medical Corporation, Medimetal Ltd., Zimmer Biomet, EgiFix Medical, Arthrex, Inc., DePuy Synthes, TREU-Instrumente GmbH, Smith & Nephew, SPINAMER, Union Oy, and Medartis AG and others.
Leading players in the global market are increasingly focusing on mergers and acquisitions with small-scale enterprises to develop novel products and distribute them across the globe. A few other key players are aiming to engage in joint ventures, new product launches, and collaborations to strengthen their positions and expand their distribution networks in the global market.
| Report Attribute | Details |
| Growth Rate | CAGR of 4.9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in US$ Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
The global distal compression plates market is set to exceed US$ 6.4 Billion in 2032.
North America is set to lead the distal compression plates market in the forecast period.
Skeletal Dynamics LLC, Stryker, JEIL Medical Corporation, Medimetal Ltd., Zimmer Biomet, EgiFix Medical, Arthrex, Inc., and DePuy Synthes are some of the renowned companies in the distal compression plates market.
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