Fracture Fixation Products Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, Japan - Size and Forecast 2024-2028

Fracture Fixation Products Market 2024-2028

The global fracture fixation products market size is estimated to grow by USD 6.73 billion at a CAGR of 8.97% between 2023 and 2028. 

The healthcare system in emerging economies is changing rapidly. Emerging economies demonstrate a huge growth potential for medical device manufacturers, owing to the increase in the demand for medical devices, including fracture fixation products. The improving healthcare infrastructure in emerging markets has attracted the attention of global institutional investors. Moreover, with the low cost of labor and increased spending on healthcare infrastructure, China and India provide huge growth opportunities to manufacturers of fracture fixation products. Additionally, with the rise in disposable income and healthcare expenditure, the demand for fracture fixation products is also likely to increase in developing countries, which, in turn, is expected to drive the growth of the market during the forecast period.

Technavio has segmented the market into Application, Product, and Geography

• The application segment includes lower extremities and upper extremities
• The product segment includes internal fixation products and external fixation products
• The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the size of the Fracture Fixation Products Market During the Forecast Period?

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Fracture Fixation Products Market Segmentation by Application, Product, and Geography Analysis

Application Analysis 

Lower extremities

The market share growth by the lower extremities segment will be significant during the forecast period. The high incidence and prevalence of foot and ankle injuries in workplaces, especially in the US and the UK, make the segment the highest contributor of revenue to the global lower extremities market. The tibia and the fibula are the major bones that come together to form the ankle joint. Several conditions, such as ankle fractures and Achilles tendinitis, require lower extremity procedures. A high prevalence of foot and ankle injuries has been reported in workplaces such as the manufacturing and construction industries.

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The lower extremities segment was valued at USD 6.55 billion in 2018. The growing prevalence of osteoporosis, especially among the geriatric population, is another major cause that increases the number of foot and ankle injuries. Due to aging, a person's calcium-generating capacity reduces, which makes bones brittle and susceptible to fractures. Furthermore, market players have also responded to the growing awareness about foot and ankle procedures by launching innovative products. Consequently, the rise in the demand for lower extremity fracture surgery and related fracture fixation products will drive the global fracture fixation products market positively during the forecast period.

Product Analysis

Internal fixation products

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. Internal fixation products such as screws, bone plates, and rods are surgically implanted in the body to repair a fractured bone. Internal fixation 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. Thus, such factors drive the internal fixation products segment, which, in turn, fosters the growth of the global fracture fixation products market during the forecast period.

External fixation products

External fixation products such as metal pins and screws act as stabilizing frames to hold the broken bones in the proper position through small incisions in the skin and muscles. External fixation products are implanted by orthopedic surgeons under general anesthesia. Based on product type, external fixation products are classified into manual external fixators and computer-aided external fixators. External fixation products are available in various forms, such as unilateral fixators, circular fixators, and hybrid fixators. External fixation products have several benefits, such as the following, simple use, and versatility. Thus, such factors will boost the growth of the market during the forecast period.

Regional Analysis

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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will 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.

Moreover, the US is the major contributor to the market in North America, due to the high popularity of minimally invasive surgeries, high adoption of technologically advanced products, growing expenditure on orthopedic procedures, and vast healthcare insurance coverage from the Centers for Medicare and Medicaid Services (CMS). Furthermore, the presence of the Orthopaedic Trauma Association (OTA), a leading authority in orthopedic research, education, and patient advocacy, provides optimum treatment and prevention of musculoskeletal injuries. Hence, such factors are expected to drive market growth in this region during the forecast period.  

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Key Fracture Fixation Products Market Players 

Companies 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. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Arthrex Inc.: The company offers fracture fixation products such as FibuLock, Syndesmosis TightRope, and AiTFL InternalBrace.

• Acumed LLC
• Bioretec Ltd.
• Citieffe s.r.l.
• Conmed Corp.
• Curtiss Wright Corp.
• Extremity Medical LLC
• Gebruder Martin GmbH and Co. KG
• Globus Medical Inc.
• GPC Medical Ltd.
• Inion Oy
• Johnson and Johnson
• Medtronic Plc
• Narang Medical Ltd.
• Neosteo SA
• Orthofix Medical Inc.
• Orthopaedic Implant Co.
• Paragon 28 Inc.
• Smith and Nephew plc
• Stryker Corp.

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Fracture Fixation Products Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Fracture Fixation Products Market Drivers

The increasing incidence of fractures associated with osteoporosis and arthritis is the key factor driving 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.

Moreover, 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. Therefore, the increasing incidence of fractures associated with osteoporosis and arthritis drives the demand for fracture fixation products during the forecast period.

Significant Fracture Fixation Products Market Trends

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 R&D activities have led to the introduction of innovative products. For instance, in October 2020, Johnson and Johnson's DePuy Synthes unveiled the 'FIBULINK Syndesmosis Repair System' in the US.

Moreover, the purpose of the device is to treat severe syndesmosis injuries. Furthermore, 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 will drive the growth of the global fracture fixation products market during the forecast period.

Major Fracture Fixation Products Market Challenges

Complications associated with the use of fracture fixation products are a challenge that affects 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. Furthermore, 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 impede the growth of the market during the forecast period.

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Key Fracture Fixation Products Market Customer Landscape

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

Segment Overview

The fracture fixation products market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Application Outlook
  • Lower extremities
  • Upper extremities

• Product Outlook
  • Internal fixation products
  • External fixation products

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW) 
    • Australia
    • Argentina
    • Brazil 

Fracture Fixation Products Market Scope
Report Coverage	Details
Page number	162
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 8.97%
Market Growth 2024-2028	USD 6.73 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	8.41
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 37%
Key countries	US, Germany, UK, China, and Japan
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	aap Implantate AG, Acumed LLC, Arthrex Inc., Bioretec Ltd., Citieffe s.r.l., Conmed Corp., Curtiss Wright Corp., Extremity Medical LLC, Gebruder Martin GmbH and Co. KG, Globus Medical Inc., GPC Medical Ltd., Inion Oy, Johnson and Johnson, Medtronic Plc, Narang Medical Ltd., Neosteo SA, Orthofix Medical Inc., Orthopaedic Implant Co., Paragon 28 Inc., Smith and Nephew plc, Stryker Corp., TriMed Inc., and Zimmer Biomet Holdings Inc.
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 the forecast period.
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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What are the Key Data Covered in this Fracture Fixation Products Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the fracture fixation products market between 2024 and 2028
• Precise estimation of the fracture fixation products market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of fracture fixation products market companies

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