The new report by Expert Market Research titled, ‘Fracture Fixation Products Global Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global fracture fixation products market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 7.8%
The global fracture fixation products market will likely benefit from high-quality healthcare infrastructure development and increased government investments in the coming years. Furthermore, rising consumer disposable income and an increasing consumer willingness to spend more on health care facilities are expected to provide potential growth opportunities for the industry’s leading participants. On the other hand, it is expected that the high cost of fracture repair solutions and a lack of customer knowledge will stymie business growth in the next few years.
The global fracture fixation products market is expected to develop rapidly because of the rising frequency of fractures associated with osteoporosis and osteoarthritis, increased government financing and grants, and technological advancements in the industry. In addition, increased demand for improved fracture healthcare facilities and increased research-related activities and conferences contribute to the market’s growth. Due to a vast untapped market in the developing country sector, the fracture fixation products market is predicted to grow significantly throughout the forecast period.
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Industry Definition and Major Segments
Fracture-fixing methods are utilized to improve skeletal mobility, alleviate soft-tissue concerns, and speed up recovery. A broken bone must be carefully stabilized and kept in place until it can support the body’s weight and activity. Fracture fixation solutions help stabilize shattered bones so that the wounded limb can regain full mobility and function sooner. Fracture-fixing products usually use metal composites or bioabsorbable materials.
The transition from metallic to bioabsorbable fixators is one of the most significant changes in the global fracture mending device industry. Bioabsorbable fixators, such as polyglycolic acid polymers, are ultra-strong polymer implants used to stabilize fractures, bone transplants, and fusions. It also removes the need for removal surgery and reduces the risk of implant-related stress shielding.
By product, the market is divided into:
- Internal fixation
- External fixation
By application, the market is divided into:
- Lower Extremities
- Upper Extremities
By region, the industry is categorized into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
As the demand for plates, screws, and nails for surgical implants for bone repairs develops, the demand for fracture fixation devices is expected to increase. As a result, external fixation product sectors are also expected to grow significantly during the forecast period. Furthermore, contemporary research and development facilities and new and original product improvements by businesses are propelling the fracture fixation products sector forward.
Fracture-fixing products are used to restore skeletal movement, reduce soft-tissue issues, and hasten recuperation. With an increase in the number of collaborations and partnerships among fracture fixation product firms and a shift in the market from metallic to bioabsorbable fixators, Bioabsorbable fixators, such as polyglycolic acid polymers, are ultra-strong polymer implants used to stabilize fractures, bone transplants, and fusions. It also removes the need for removal surgery and reduces the risk of implant-related stress shielding. Bioabsorbable fixators are expected to develop at the fastest rate in the next year.
North America is expected to continue to lead the global fracture fixation products market in the next few years, owing to an ageing population, rising government spending, and an increase in the prevalence of osteoporotic fractures. The global fracture fixation products market is being driven by factors such as an ageing population, a growth in the frequency of lifestyle-related illnesses, growing healthcare costs, and an increase in fracture incidence. Furthermore, the fracture fixation products market is being propelled forward by rising sports involvement, increased road accident frequency, and higher healthcare awareness. However, the global fracture repair products market’s growth is being stifled by high surgical costs, immunological and inflammatory reactions, and a lack of reimbursement in emerging nations. Asia-Pacific is the fastest-growing region in the worldwide fracture fixation products market.
The primary drivers of the fracture fixation products market in the region are increased healthcare expenditure, improved healthcare infrastructure, a large pool of patients, and the rising frequency of lifestyle-related ailments in the region. Furthermore, the fracture fixation products market is developing as the Asia-Pacific region’s emerging economies, such as India and China, become more cognizant of healthcare.
Key Market Players
The major players in the market are B. Braun Melsungen AG, Johnson & Johnson Services Inc., Smith & Nephew Plc, Stryker Corp., Zimmer Biomet Holdings Inc., among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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