The external fixators market is projected to continue its steady growth on account of the widespread prevalence of osteoporosis coupled with rising incidences of accidental fractures. The market is estimated to expand at a high CAGR of 8.5 per cent during the report period (2018–2028), with market valuation surpassing the US$3bn mark by 2028. According to the report, technologically and innovative advancements are anticipated to further firm-up the adoption of external fixators.
In recent years, orthopaedic treatments have witnessed a paradigm shift from the conventional highly-invasive to minimally-invasive procedures, as the latter promises early return-to-motion with negligible infection risks. The computer-aided external fixators have been built upon the strengths of conventional external fixators by boosting the device convenience and versatility in complex cases. The report opines that computer-aided external fixators could witness increased adoption, expanding considerably in the forthcoming years.
“Alternative orthopaedic disorders’ treatment options, including bone glue designed for joint replacement, could hinder global external fixators market growth considerably. Several external fixators’ manufacturers are prioritising novel technologically-advanced product development, but stringent rules and regulations in tandem with the lengthy approval procedures are making market-penetration challenging for new devices. This is prompting patients to opt for external fixators’ alternative. Additionally, widespread prevalence of surgical-site infections in the case of orthopaedic trauma operations over surgical specialties, is another vital factor ebbing progress of external fixators market,” says a lead analyst at Future Market Insights.
Amid the numerous challenges in external fixators market, manufacturers are increasingly focusing on novel product launches, mergers, expansion, acquisitions, and deals, while also implementing forward growth strategies to proliferate the sales of their offerings in broader geographies. As per this report, manufacturers are also prioritising New Product Development (NPD) strategies to reinforce their footprint in Asia Pacific region, which is the hotbed of opportunities in external fixators market. External fixators’ manufacturers are leveraging 3D printing to build patient-focused devices with complex internal structures. Owing to 3D printings’ myriad benefits in the orthopaedic industry, such an inclusion is expected to fuel sales of external fixators.
As per the report, moguls in the external fixators market, including the leading four players Stryker Corporation, Smith & Nephew, DePuy Synthesis, and Zimmer, accumulatively hold nearly half the external fixators market share. The external fixators market represents a highly consolidated landscape, with most of the growth opportunities emerging in North America. However, the report comprehends that a fortified global external fixators market will result in high-priced devices.
Geographically, North America is projected to hold roughly 35 per cent share of external fixators market, however, New Zealand and Australia are anticipated to present most lucrative growth opportunities in Asia Pacific market, followed by Latin America and Middle-East and Africa.
