External Fixators Market Forecast and Scope - 2031
The External Fixators Market is expected to register a CAGR of 5.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Unilateral and Modular External Fixators, Circular and Modular External Fixators). The report further presents analysis based on the End Use (Orthopedic Deformities, Fracture Fixation, Limb Correction, and Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report External Fixators Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
External Fixators Market Segmentation
Type- Unilateral and Modular External Fixators
- Circular and Modular External Fixators
- Orthopedic Deformities
- Fracture Fixation
- Limb Correction
- Others
Strategic Insights
External Fixators Market Growth Drivers- More Completed Trauma and Accident-Related Injuries: Among the prime market factors for the external fixators market are an increase in trauma and accident-related injuries. Due to the increase in road traffic accidents, sports injuries, and occupational accidents, there tend to be numerous fractures and injuries to the bone. Given the fact that external fixators are commonly used in the stabilization of fractures, especially compound fractures, the use of these devices is in high demand. The demographic of older adults with increased susceptibility to fractures due to bone fragility resulting from age also aids in driving up the demand for orthopedic devices like the external fixator.
- Advancements in Medical Technology: Now that you know the advances in medical technology, you increase the design and functionality of external fixators. It is in this connection that new materials like carbon fiber and titanium have been combined with these devices to make them lighter, but they are also stronger and much durable. Biocompatibility of these materials is better, resulting in minimizing infection risks and the discomfort of patients. In addition, 3D printing technology and CAD tools have been integrated into the market, enabling more customized and precise external fixators, further fueling growth.
- Increasing Demand for Minimally Invasive Orthopedic Procedures: With patients increasingly preferring less invasive procedures, there has been a shift towards minimally invasive orthopedic procedures. External fixators fall into this trend because they provide a method of fracture fixation with stability yet with less requirement for huge incisions and extended surgery times. The subtlety of external fixators leads to shortened periods of recovery, reduced infection rates, and reduced postoperative pain. This is especially true in orthopedic care for the elderly, who tend to be at higher risks of complications from traditional surgical intervention.
- Shift Towards Biocompatible and Lightweight Materials: There is a trend towards the use of biocompatible and lightweight materials in external fixators. Manufacturers are shifting their emphasis toward the development of devices made with materials that minimize infection risk and make the patient more comfortable. Material strengths, resistance to corrosion, and compatibility with the human body are a few reasons titanium alloys and carbon fibers have become popular. These materials further enhance the general functionality of external fixators and thereby result in better outcomes.
- Integration of Smart Technologies: The market is witnessing the integration of smart technologies in the form of external fixators. Manufacturers are looking to integrate various types of sensors, wireless technology, and IoT capabilities in external fixation devices. Such advanced external fixators monitor the healing process in real-time, track patients' mobility, and offer the kind of data through which clinicians might better decide on the best treatment for the patient. This is a trend not only improving patient outcomes but also improving efficiency in the healing process.
- Personalized and Patient-Specific Devices: With the rising tide of personalized medicine, orthopedic devices may well become the target of personalization. Companies are now in a position to offer personalized, patient-specific external fixators for individual patient requirements. Using 3D printing and advanced imaging techniques, the custom-made device can be designed with anatomic parameters for better fit and thus an enhanced efficiency of the treatment. Custom-made devices further minimize the complications and shorten the recovery time.
- Expanding Markets in Developing Economies: Expanding healthcare access in developing economies is one of the greatest opportunities in the external fixators market. The demand for advanced medical devices, such as external fixators, increases with continued economic growth in Asia-Pacific, Africa, and Latin America. The increasing middle class and vision by the government for improving existing healthcare infrastructure is a great opportunity for companies to expand their offerings in these countries.
- Technological innovations: Increased application of technological innovative features now opens up chances for market players to invent the next versions of external fixation devices. Innovations in 3D printing, AI: driven devices, and sensor: integrated technologies may create a new dimension in the design and functionality of external fixators. Manufacturers can use such technologies to make more efficient, comfortable, and effective devices that have gained increased advantages as part of a trend toward patient: specific and smart devices.
- Collaborations and Partnerships: Strategic collaborations and partnerships with medical device manufacturers, research institutions, and healthcare providers are another avenue for growth in the external fixators market. This will encourage innovation, enhance product development, and ensure a faster adoption of new technologies. By working together, stakeholders may be able to better address patient and healthcare system needs as they evolve.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the External Fixators Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the External Fixators Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Players operating in the market are Stryker Corporation, DePuy Synthes (Johnson & Johnson Services, Inc.), Smith & Nephew plc, Medtronic, DJO Global, Inc., Zimmer Biomet Holdings, Inc., Orthofix International N.V., Response Ortho LLC, Wright Medical Group N.V., Integra LifeSciences Corporation
Unilateral and Modular External Fixators segment, by type, dominated the market in 2023.
North America region dominated the External Fixators market in 2023.
The External Fixators Market is estimated to witness a CAGR of 5.3% from 202#to 2031
Expanding Markets in Developing Economies act as a opportunity for growth of the market in forecast period.
The major factors driving the External Fixators market are:
1. More Completed Trauma and Accident-Related Injuries
2. Advancements in Medical Technology
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 External Fixators Market - By Type
1.3.2 External Fixators Market - By End Use
1.3.3 External Fixators Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. EXTERNAL FIXATORS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. EXTERNAL FIXATORS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. EXTERNAL FIXATORS MARKET - GLOBAL MARKET ANALYSIS
6.1. EXTERNAL FIXATORS - GLOBAL MARKET OVERVIEW
6.2. EXTERNAL FIXATORS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. EXTERNAL FIXATORS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. UNILATERAL AND MODULAR EXTERNAL FIXATORS
7.3.1. Overview
7.3.2. Unilateral and Modular External Fixators Market Forecast and Analysis
7.4. CIRCULAR AND MODULAR EXTERNAL FIXATORS
7.4.1. Overview
7.4.2. Circular and Modular External Fixators Market Forecast and Analysis
8. EXTERNAL FIXATORS MARKET - REVENUE AND FORECASTS TO 2028 - END USE
8.1. OVERVIEW
8.2. END USE MARKET FORECASTS AND ANALYSIS
8.3. ORTHOPEDIC DEFORMITIES
8.3.1. Overview
8.3.2. Orthopedic Deformities Market Forecast and Analysis
8.4. FRACTURE FIXATION
8.4.1. Overview
8.4.2. Fracture Fixation Market Forecast and Analysis
8.5. LIMB CORRECTION
8.5.1. Overview
8.5.2. Limb Correction Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. EXTERNAL FIXATORS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America External Fixators Market Overview
9.1.2 North America External Fixators Market Forecasts and Analysis
9.1.3 North America External Fixators Market Forecasts and Analysis - By Type
9.1.4 North America External Fixators Market Forecasts and Analysis - By End Use
9.1.5 North America External Fixators Market Forecasts and Analysis - By Countries
9.1.5.1 United States External Fixators Market
9.1.5.1.1 United States External Fixators Market by Type
9.1.5.1.2 United States External Fixators Market by End Use
9.1.5.2 Canada External Fixators Market
9.1.5.2.1 Canada External Fixators Market by Type
9.1.5.2.2 Canada External Fixators Market by End Use
9.1.5.3 Mexico External Fixators Market
9.1.5.3.1 Mexico External Fixators Market by Type
9.1.5.3.2 Mexico External Fixators Market by End Use
9.2. EUROPE
9.2.1 Europe External Fixators Market Overview
9.2.2 Europe External Fixators Market Forecasts and Analysis
9.2.3 Europe External Fixators Market Forecasts and Analysis - By Type
9.2.4 Europe External Fixators Market Forecasts and Analysis - By End Use
9.2.5 Europe External Fixators Market Forecasts and Analysis - By Countries
9.2.5.1 Germany External Fixators Market
9.2.5.1.1 Germany External Fixators Market by Type
9.2.5.1.2 Germany External Fixators Market by End Use
9.2.5.2 France External Fixators Market
9.2.5.2.1 France External Fixators Market by Type
9.2.5.2.2 France External Fixators Market by End Use
9.2.5.3 Italy External Fixators Market
9.2.5.3.1 Italy External Fixators Market by Type
9.2.5.3.2 Italy External Fixators Market by End Use
9.2.5.4 Spain External Fixators Market
9.2.5.4.1 Spain External Fixators Market by Type
9.2.5.4.2 Spain External Fixators Market by End Use
9.2.5.5 United Kingdom External Fixators Market
9.2.5.5.1 United Kingdom External Fixators Market by Type
9.2.5.5.2 United Kingdom External Fixators Market by End Use
9.2.5.6 Rest of Europe External Fixators Market
9.2.5.6.1 Rest of Europe External Fixators Market by Type
9.2.5.6.2 Rest of Europe External Fixators Market by End Use
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific External Fixators Market Overview
9.3.2 Asia-Pacific External Fixators Market Forecasts and Analysis
9.3.3 Asia-Pacific External Fixators Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific External Fixators Market Forecasts and Analysis - By End Use
9.3.5 Asia-Pacific External Fixators Market Forecasts and Analysis - By Countries
9.3.5.1 Australia External Fixators Market
9.3.5.1.1 Australia External Fixators Market by Type
9.3.5.1.2 Australia External Fixators Market by End Use
9.3.5.2 China External Fixators Market
9.3.5.2.1 China External Fixators Market by Type
9.3.5.2.2 China External Fixators Market by End Use
9.3.5.3 India External Fixators Market
9.3.5.3.1 India External Fixators Market by Type
9.3.5.3.2 India External Fixators Market by End Use
9.3.5.4 Japan External Fixators Market
9.3.5.4.1 Japan External Fixators Market by Type
9.3.5.4.2 Japan External Fixators Market by End Use
9.3.5.5 South Korea External Fixators Market
9.3.5.5.1 South Korea External Fixators Market by Type
9.3.5.5.2 South Korea External Fixators Market by End Use
9.3.5.6 Rest of Asia-Pacific External Fixators Market
9.3.5.6.1 Rest of Asia-Pacific External Fixators Market by Type
9.3.5.6.2 Rest of Asia-Pacific External Fixators Market by End Use
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa External Fixators Market Overview
9.4.2 Middle East and Africa External Fixators Market Forecasts and Analysis
9.4.3 Middle East and Africa External Fixators Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa External Fixators Market Forecasts and Analysis - By End Use
9.4.5 Middle East and Africa External Fixators Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa External Fixators Market
9.4.5.1.1 South Africa External Fixators Market by Type
9.4.5.1.2 South Africa External Fixators Market by End Use
9.4.5.2 Saudi Arabia External Fixators Market
9.4.5.2.1 Saudi Arabia External Fixators Market by Type
9.4.5.2.2 Saudi Arabia External Fixators Market by End Use
9.4.5.3 U.A.E External Fixators Market
9.4.5.3.1 U.A.E External Fixators Market by Type
9.4.5.3.2 U.A.E External Fixators Market by End Use
9.4.5.4 Rest of Middle East and Africa External Fixators Market
9.4.5.4.1 Rest of Middle East and Africa External Fixators Market by Type
9.4.5.4.2 Rest of Middle East and Africa External Fixators Market by End Use
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America External Fixators Market Overview
9.5.2 South and Central America External Fixators Market Forecasts and Analysis
9.5.3 South and Central America External Fixators Market Forecasts and Analysis - By Type
9.5.4 South and Central America External Fixators Market Forecasts and Analysis - By End Use
9.5.5 South and Central America External Fixators Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil External Fixators Market
9.5.5.1.1 Brazil External Fixators Market by Type
9.5.5.1.2 Brazil External Fixators Market by End Use
9.5.5.2 Argentina External Fixators Market
9.5.5.2.1 Argentina External Fixators Market by Type
9.5.5.2.2 Argentina External Fixators Market by End Use
9.5.5.3 Rest of South and Central America External Fixators Market
9.5.5.3.1 Rest of South and Central America External Fixators Market by Type
9.5.5.3.2 Rest of South and Central America External Fixators Market by End Use
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL EXTERNAL FIXATORS MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. EXTERNAL FIXATORS MARKET, KEY COMPANY PROFILES
12.1. STRYKER CORPORATION
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. DEPUY SYNTHES
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. SMITH AND NEPHEW PLC
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. MEDTRONIC PLC
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. DJO GLOBAL, INC.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. ZIMMER BIOMET HOLDINGS, INC.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. ORTHOFIX INTERNATIONAL N.V.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. RESPONSE ORTHO LLC
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. WRIGHT MEDICAL GROUP N.V.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. INTEGRA LIFESCIENCES CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Stryker Corporation
2. DePuy Synthes (Johnson & Johnson Services, Inc.)
3. Smith & Nephew plc
4. Medtronic Kanghui Orthopedics (Medtronic plc)
5. DJO Global, Inc.
6. Zimmer Biomet Holdings, Inc.
7. Orthofix International N.V.
8. Response Ortho LLC
9. Wright Medical Group N.V.
10. Integra LifeSciences Corporation
11. Accumed
12. Arthrex
13. B.Braun Melsungen
14. Conmed
15. Cardinal Health
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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