Bone Fixation Devices Market is Expected to Reach $13.11 bn by 2027
The Bone Fixation Devices Market was valued at US $7.68 billion in the year 2018 and is estimated to reach US $13.11 billion by 2027, at a CAGR of 6.12%.
Bone Fixation Devices are used to maintain the stability of the fractured bones through immobilization and offering proper alignment during the healing process. There are two types of bone fixation devices, external and internal. Internal Fixation devices include screws (cortical, cancellous), plates (straight, complex compression), pins and rods. Among these, the plates are expected to hold the bones together and the screws help in fixation of the bones to the implants. External fixation devices are used for temporary treatment of fractures, mostly in conditions associated with multiple injuries, where complex surgery to fix the fracture is not possible.
The major market drivers include a continuous growing orthopedic market, an increase in public awareness, R&D, rising healthcare infrastructure, increasing cases of accidents, high prevalence of osteoporosis and osteoporotic fractures.
In recent times, there is an increase in age-specific incidence rates of fractures among them women are more vulnerable. Further, increasing the geriatric population associated with fragility fractures also triggers the demand for bone fixation devices market. International Osteoporosis Foundation estimated over 200 million people to be suffering from osteoporosis worldwide. Among them, women over 50 years of age will experience osteoporotic fractures which include at least 40% of menopausal women; while 15-30% of men will sustain one or more fragility fractures in their lifetime.
The key market restraints for bone fixation devices market are stringent regulations of manufacturing, high cost of bone fracture surgeries, high cost, and risks associated with bone fixation screws such as loss of function and muscular morbidity, bone infection, and loosening of screws. The major challenges to be met for bone fixation devices market are the usage of more novel materials, to develop advanced bone fixation procedures and to develop the low risk of infection internal fixation devices. Internal fixation device accounts major share of more than 70% when compared with external fixation devices in bone fixation market. Focusing more on the development and marketing of bioabsorbable fixators might boost the bone fixation market growth.
Major companies for Bone Fixation Devices market include Medtronic, Zimmer Biomet, Atlantic Surgical, Orthofix, BoneSupport AB, Osteomed, Depuy Synthes, Stryker. According to clinicaltrials.gov, there are more than 300 active clinical trials for bone fixation devices.
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- In September 2019, Flower Orthopedics introduced a new low-profile syndesmotic fixation device, the FlowerRope
- FDA issued clearance OrthoSpin’s robot-assisted external fixation device
- MedShape, Inc. has announced the commercial launch of its DynaClip™ Bone Fixation System
Bone Fixation Devices Market Based on Product type (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
- Internal Fixation Devices
- External Fixation Devices
Bone Fixation Devices Market Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Bone Fixation Devices Market, 2015 to 2018
- Forecast of the Bone Fixation Devices Market Growth till the year 2027
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Bone Fixation Devices Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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