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The fracture fixation products market is estimated to grow at a CAGR of 9.46% between 2022 and 2027. The fracture fixation products market size is forecast to increase by USD 6,624.08 million. The growth of the market depends on several factors, including the increasing incidence of fractures associated with osteoporosis and arthritis, the growing number of traumatic injuries due to the rise in road accidents, and the rising investments and awareness.
This market report extensively covers market segmentation by product (internal fixation products and external fixation products), application (lower extremities and upper extremities), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing incidence of fractures associated with osteoporosis and arthritis is notably driving the market growth, although factors such as complications associated with the use of fracture fixation products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing incidence of fractures associated with osteoporosis and arthritis is the key factor driving the global fracture fixation products market growth. Osteoporotic and arthritic fractures are more common in the elderly population, leading to increased mortality and morbidity. Osteoporosis is an asymptomatic systemic bone disease characterized by low bone mass and deterioration of bone tissue, accompanied by increased bone fragility and susceptibility to fracture. It is most commonly seen in elderly and postmenopausal women.
Arthritis is a joint inflammation that affects the joints and tissues surrounding the joints. Osteoarthritis is the most common form of arthritis. It is caused due to aging, injury from trauma, inheritance, obesity, and immune dysfunction. In the US, the prevalence and burden rates of arthritis are more among people with heart disease, diabetes, and obesity. According to the Centers for Disease Control and Prevention (CDC), 78 million US adults aged 18 years and above are projected to be diagnosed with arthritis by 2040. Therefore, the increasing incidence of fractures associated with osteoporosis and arthritis drives the demand for fracture fixation products during the forecast period.
The rising number of product launches and approvals is the primary trend in the global fracture fixation products market growth. Vendors in the global fracture fixation products market are focusing on improving their market share and expanding their footprint globally by choosing organic growth strategies such as product launches and approvals. Increased research and development activities have led to the introduction of innovative products. Vendors in this market, therefore, need to constantly improve their products and technologies in order to remain competitive in the market.
Moreover, key players are also focusing on receiving approvals for introducing new implants to increase their market share. Therefore, the rising number of product launches by market players and product approvals by regulatory authorities will drive the growth of the global fracture fixation products market during the forecast period.
Complications associated with the use of fracture fixation products are a major challenge to the global fracture fixation products market growth. Complications associated with fracture fixation products include infection, pain, increased incidence of autoimmune and inflammatory reactions, allergies, palpation, discomfort, refraction, and neurovascular impalement. Also, Deep vein thrombosis (DVT), pulmonary embolism (PE), aseptic loosening, bleeding, necrosis, stiffness, and degenerate osteoarthritis are some of the risks associated with fracture fixation products.
In a few cases, these products lead to iatrogenic complications, such as arthritic development in non-involved joints, neuropraxia, and osteonecrosis. Some of the device-related complications are fixator failures, migration of proximal pin in external fixator, translocation of internal fixators, failure of the bone-pin interface, the requirement of secondary surgeries for implant removal, and plate breaking. Hence, the complications associated with the use of fracture fixation products hinder the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Fracture Fixation Products Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aap - The company offers fracture fixation products such as distal femur plate PP, periprosthetic plating, VA hinge.
The fracture fixation products market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the internal fixation products segment will be significant during the forecast period. Based on product type, internal fixation products are further classified into plates and screw systems, intramedullary nails, and others, which include wires and rods. Staples and clamps are also occasionally used for internal fixations.
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The internal fixation products were valued at USD 6,447.41 million in 2017 and continue to grow by 2021. Internal fixation products such as screws, bone plates, and rods are surgically implanted in the body to repair a fractured bone. They are used for healing and stabilizing critical fractures by immobilizing the fracture site, reducing the gap between broken bones, and allowing for a primary bone healing process through callus formation. These products are made up of stainless steel, nitinol, titanium, tritium, and polyether ether ketone (PEEK) materials, which are durable, stable, flexible, and provide support to the bones for quick recovery from a medical condition.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The fracture fixation products market in North America was driven by the presence of well-equipped and established healthcare infrastructure, the availability of highly-skilled professionals, and the presence of extensive healthcare insurance coverage. In addition, the presence of organizations and institutions that are aimed at providing education programs on fractures and available treatment options is contributing to the market growth in North America.
In 2020, the outbreak of COVID-19 severely impacted the fracture fixation products market in North America, especially in the first half. However, the initiation of COVID-19 vaccination drives led to the lifting of lockdowns and the resumption of various surgical activities, such as fracture fixation product operations in clinics and hospitals, with proper safety and precautions in 2021. Moreover, cosmetic procedures, such as breast enhancement, cheek augmentation, and dermal fillers, are resumed procedures that increase the demand for fracture fixation products in the region. Such factors are expected to drive the growth of the fracture fixation products market in the region during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Fracture Fixation Products Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.46% |
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Market growth 2023-2027 |
USD 6,624.08 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.29 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aap Implantate AG, Acumed LLC, Advanced Orthopaedic Solutions, Arthrex Inc., Bioretec Ltd., Citieffe s.r.l., Conmed Corp., Extremity Medical LLC, Globus Medical Inc., GPC Medical Ltd., Inion Oy, Johnson and Johnson, Medtronic Plc, Orthofix Medical Inc., Orthopaedic Implant Co., Paragon 28 Inc., Smith and Nephew plc, Stryker Corp., and TriMed Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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