Modular Plating Systems Market

Modular Plating Systems Market Overview

The modular plating systems market is projected to register a CAGR of 5.7% during the forecast period 2022-2032.

The unprecedented demand for better prosthetics has had an impact on the overall sales of modular plating systems.

Demand for modular plating systems is expected to rise as surgical procedures are constantly evolving, and the medical community is constantly striving to develop cutting-edge surgical procedures. 

The increasing popularity of sports and strenuous activities among the general public is largely to blame for the rise in bone disjoints and fractures which, in turn, propels the sales of modular plating systems.

It is safe to predict that the global modular plating systems market will become a haven for new investments, thereby accelerating the Demand for modular plating systems in the coming years.

Furthermore, as strategic acquisitions increase, more products will be launched, boosting the Demand for modular plating systems as well as the sales of modular plating systems.

In addition, rising healthcare expenditures, increased government funding for research and development, and expanded health insurance policies is projected to fuel the sales of modular plating systems.

Hand plating devices and aids have emerged as a significant segment of the global modular plating systems market, and as limb injuries can occur at any age, the Demand for modular plating systems is expanding in tandem with the development of new plating devices.

Higher Demand for modular plating systems can also be attributed to the hand plating procedures that are frequently used on victims of car accidents and unfavorable military combats.

What are Various Factors Influencing the Modular Plating Systems Markets?

The demand for modular plating systems is likely to spike owing to the increasing number of surgeries, advancements in technologies, and the launch of new products into the market. 

Also, with an increasing number of mergers and acquisitions, collaboration among manufacturers are likely to lead to more product launches into the market, and as a result, the modular plating systems market share is expected to surge significantly.

For instance, in May 2019, Exactech, which is a producer and developer of joint and bone restoration products and biological solutions for knees, extremities, and hips, announced the acquisition of EPIC Extremity for the ankle and foot market.

However, the cost associated with modular plating systems and the lack of trained personnel may adversely impact the demand for modular plating systems.

Moreover, the sales of modular plating systems soar due to an increase in healthcare expenditure and a rise in government funding for R&D, and expanding health insurance policy likely stimulates the growth of the modular plating systems market.

The rising demand for modular plating systems can also be attributed to the particular efforts made by the healthcare industry to improve surgical procedures in various domains of healthcare. 

Furthermore, government-led initiatives aim to improve healthcare treatments and diagnostics. As a result, the sales of modular plating systems rise exponentially in the coming years. 

It is also reasonable to anticipate that vendors operating in the global modular plating systems market will follow a profitable path in the coming years, thereby enlarging their modular plating systems market share.

Sabyasachi Ghosh

Principal Consultant

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What is the Region-wise Outlook of the Modular Plating Systems Market?

On the basis of geography, the global modular plating systems market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, and the Asia Pacific, excluding Japan and Middle East & Africa. 

North America is expected to witness a significant rise in the demand for modular plating systems owing to advancements in new technologies and increased adoption of new techniques.

The launch of new products in North America also likely drives up the sales of modular plating systems in the region. 

Europe is also a considerable rise in the sales of modular plating systems on account of an increasing number of local manufacturers delivering new products to the market.

Improved medical facilities in the region are also anticipated to manifest a substantial peak in demand for modular plating systems in Europe. 

The Asia Pacific has significant potential in accelerating the sales of modular plating systems due to rising disposable income, and increasing awareness about new technologies is anticipated to boost the growth of the modular plating systems market. 

The Middle East and Africa have less contribution towards the sales of modular plating systems and hold considerably lower modular plating systems market share due to the poor economy and les adoption of new technologies.

What are a Few Recent Developments in the Modular Plating Systems Market?

Some of the key players present across the value chain of the global modular plating systems market are Acumed, OsteoMed, Stryker, Exactech, DePuy Synthes, Auxein Medical Pvt. Ltd., J&J Medical Devices, B. Braun Melsungen AG, Medtronic, KLS Martin LP, Wright Medical Group.

The growth of a sound industry for prosthetic treatments and tissue repair therapies has resulted in the advancement of sound technologies in the global modular plating systems market.

• Acumed has established itself as a major holder of modular plating systems market share, specialising in hand plating devices. The company's devices provide surgeons with greater control and resilience, which is an important consideration in terms of market growth.

The company's comprehensive research approach has aided it in gaining global acclaim.

• Other companies in the global modular plating systems market are concentrating on the development of effective pelvic plating systems and augmenting the sales of modular plating systems.

 The high prevalence of pelvic disorders and injuries provides market vendors with a wide range of opportunities.

As a result, new pelvic plating systems are likely to emerge in the coming years.

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