An Incisive, In-depth Analysis on the External Fixators Market
This study offers a comprehensive, 360 degree analysis on the External Fixators market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global External Fixators market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
The orthopaedic trauma devices, including external fixators, are specifically manufactured to treat orthopaedic disorders and treat bone fractures. In recent years, the use of external fixators has increased significantly as they curtail treatment time, while requiring negligible surgical intervention. Computer-assisted external fixators have gained traction in external fixators market for deformity correction and fracture fixation.
Unique Growth Strategies Becoming Paramount
The rigorous competition in external fixators market is propelling external fixators’ manufacturers to adopt diverse growth strategies to move ahead of the counterparts. To capitalize on the growing demand for orthopaedic trauma devices, such as external fixators, several leading players in external fixators market have launched novel innovative products, while acquiring local players to expand their outreach. Some external fixators’ manufacturers are focusing on patient-specific treatments and devices with complex internal structures, while leveraging revolutionary 3D printed medical devices in the orthopedic industry. Such initiatives are bringing tremendous changes in the global external fixators market, thereby creating lucrative growth opportunities for external fixators’ manufacturers. Some external fixators’ manufacturers are even indulging into geographical expansion, as they diversify their business to tap a broader customer base.
The growing number of innovative product launches in tandem with the emergence of new entrants are likely to make external fixators highly competitively priced in the forthcoming years. Some of the notable developments in external fixators market include:
In 2017, a franchise of orthopaedic and neurosurgery companies - DePuy Synthes – introduced the first ever 3D simulation-based orthopedic external circular fixation device, named MAXFRAME Multi-Axial Correction System.
Another leading player in external fixators market - The Orthopaedic Implant Company – showcased the OIC External Fixation System at the 2017 Annual Orthopaedic Trauma Association (OTA) Meeting held in Vancouver Convention Center (Canada).
Earlier, Zimmer Holdings, Inc. purchased a medical device firm - ExtraOrtho, Inc. – to expand its portfolio of external and internal fixation devices.
Detailed profiling of other leading players operating in external fixators market has also been included in external fixators market report. Key players operating in external fixators market include Ortho-SUV Ltd., ConMed, Zimmer Biomet Holdings, Inc., OsteoMed, DePuy Synthes (Johnson & Johnson Services, Inc.), Stryker Corporation, Medtronic Kanghui Orthopedics, Vilex, DJO Global, Inc., Response Ortho LLC, Wright Medical Group N.V., Bioventus, Orthofix International N.V., Acumed, Integra LifeSciences Corporation, and Smith & Nephew plc.
Surging Road Mishaps & Sports-Related Injuries Creating Opportunities
The growing number of sports-related injuries, and road accidents, in tandem with the rising cases of limb deformities have been driving the sales of external fixators. As per the World Health Organization (WHO) estimations, over 1MN individuals die globally in road collisions every year. A research conducted by American Orthopaedic Society for Sports Medicine suggests that over 3.5 MN sportspersons and athletes undergo medical treatments for sports injuries, annually. Further the rising sports activities are increasing the risks of injury related to athletes, thereby, triggering the adoption of external fixators. As external fixators stabilize fractured bones until they heal completely, the devices are witnessing proliferating applications in closed and open fracture procedures, such as an unstable radius fracture and tibia fracture. Meanwhile, the WHO reported that global older population is likely to surpass 2BN by 2050 end. Elderly people are more vulnerable to developing osteoporosis as well as several orthopedic conditions, thereby are expected to facilitate the demand for external fixators.
Gains Underpinned by Widespread Patients’ Preference for Minimally Invasive Surgeries
As external fixators require less surgical intervention, patients’ shifting preference for minimally invasive surgeries (MISs) and treatments are benefitting external fixators market. Circular external fixators are witnessing traction in external fixators market for being an incision-free technique that puts the patients at the minimal risk of infections, hemorrhage, soft tissue damage, and tissue trauma. The adoption of circular external fixators is further triggered by the growing demand for high-tech medical devices, and computer-assisted external fixators for enhanced and less time consuming treatment.
Favorable Reimbursement Treatment Policies Steering Sales
The growing number of favorable reimbursement policies for treatment done leveraging computer-assisted external fixators in developing economies is bringing gains to external fixators market. This is further solidified by the rise in the public–private collaborations to offer cost-effective external fixators in countries lacking medical amenities, which is another factor that could fuel global external fixators market growth.
Myriad Restraints Making Market Players’ Growth Challenging
The prevalence of alternative treatments in line with the shortage of skilled orthopaedic surgeons remain key factors influencing growth in external fixators market. External fixators’ manufacturers are focusing on creating cost-effective high-performance variants of external fixators to attain a foot hold in the highly competitive medical devices sector. Another key factor thwarting the growth in external fixators market is the growing risk of surgical-site infection in orthopaedic deformity surgeries. Such growing concerns are prompting external fixators’ manufactures to induce innovation in manufacturing processes to increase device safety value.
A recently compiled report of FMI, titled “External Fixators Market: Surging Road Accidents & Sports-Related Injuries Creating Opportunities: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018–2028,” gives a comprehensive analysis on global external fixators market. Size of external fixators market has been analyzed for the historical period (2013-2017) and forecast period (2018-2028), and has been provided in volume (tons) and value (US$ Bn). The report also provides a detailed analysis and forecast on key segments and the competitive landscape of external fixators market.
External Fixators Market Overview
The report on external fixators market offers a concise overview of external fixators market, which includes introduction of the market and definition of the target offering – external fixators. A systematic breakdown of external fixators market has been offered in the report. Size of external fixators market has been analyzed in terms of volume (tons) and value (BN), and forecast on external fixators market is provided for the interval 2018 and 2028.
External Fixators Market- Background
The report offers concise external fixators market background, including myriad factors, such as region-wise external fixators’ demand, macro-economic factors, and worldwide GDP outlook, influencing external fixators market. The report on external fixators market also sheds light on the market trends, dynamics, drivers, and restraints. The concluding part of the external fixators market background tells about the forecast factors, which could influence the future of external fixators market.
Segmentation- External Fixators Market
The global external fixators market has been segmented on the basis of the region, product type, application, and end-user to study the global external fixators market in terms of myriad aspects impacting the external fixators market, with each segment giving details about the quantitative and qualitative aspects of external fixators market. The report has segmented the market into diverse regions to comparatively study the growth of external fixators market. The report also provides growth rates, market value data, and market shares during the study period.
External Fixators Market- Competition Landscape
The final part of global external fixators market report offers an exhaustive competition landscape, detailing companies’ market performance and shares to help the audience get a better idea about the competition in external fixators market. The report includes company profiles of leading players functioning in global external fixators market in tandem with myriad growth strategies being followed by them. This will give the readers a better idea about the strategies deployed by leading market players to move ahead of the competition.
External fixators Market - Company Profiles
Key companies profiled in external fixators market report include Ortho-SUV Ltd., ConMed, Zimmer Biomet Holdings, Inc., OsteoMed, DePuy Synthes (Johnson & Johnson Services, Inc.), Stryker Corporation, Medtronic Kanghui Orthopedics, Vilex, DJO Global, Inc., Response Ortho LLC, Wright Medical Group N.V., Bioventus, Orthofix International N.V., Acumed, Integra LifeSciences Corporation, and Smith & Nephew plc.
External fixators Market: Research Methodology
The key information, actionable insights, and forecast data detailed in external fixators market report are based on a comprehensive research methodology followed by the FMI analysts to create this report on external fixators market. The research methodology includes thorough primary and secondary researches, which enabled the analysts in getting detailed information on the global external fixators market.
The report offers accurate external fixators market size, and other significant numbers, such as CAGR and revenue share of different market segments for diverse regions. All the insights and numeric data mentioned in the report has undergone different validation funnels, before getting a place on the final report.
FMI’s detailed research approach ensures stats and data credibility. The aim of external fixators market report is to offer exact intelligence and valuable insights on external fixators market to readers in order to help them make smart decisions, which ensure future growth of their businesses in external fixators market.