by The external fixators market is witnessing significant growth owing to increasing incidence of trauma injuries such as fractures caused by road accidents and fall injury. External fixators are medical devices used to stabilize bones and facilitate bone healing. They help in aligning and holding the bones in place externally so accurate reduction of fracture fragments and maintenance of alignment can be achieved during fracture healing. External fixators provide advantages over internal fixation including better visualization of bone segments during surgery, ease of application, and adjustment after surgery if required. Their non-invasive nature and flexibility make them a preferred option in emergency fractures. With rapidly increasing geriatric population, the risk of falls and bone injuries has magnified globally. The external fixators see wide applications in orthopedic trauma, spine, and pediatric surgeries.
The global External Fixators Market is estimated to be valued at US$ 1319.55 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Circular fixation systems are gaining traction in external fixators market. They provide superior stability and are less prone to loosening compared to traditional linear fixators. Advancements in fixator design include low-profile external fixators andfixators integrated with radiolucent carbon fiber materials enabling better visualization under imaging modalities. Manufacturers are focusing on developing fixators integrated withsensors to monitor healing and pin site infections. Technologically advanced circular external fixation systems aim to improve clinical outcomes compared to conventional external fixation techniques.
Porter’s Analysis
Threat of new entrants: Low-moderate as the external fixators market is moderately consolidated and requires high investment to establish manufacturing facilities.
Bargaining power of buyers: Moderate as buyers have the option to choose from various product types and suppliers in the market.
Bargaining power of suppliers: Moderate as there exist many raw material suppliers in the market and switching costs are low.
Threat of new substitutes: Low as external fixators offer advantages over alternative methods like plates and screws.
Competitive rivalry: High as key players compete on the basis of product quality, design and innovation.
Key Takeaways
The Global External Fixators Market Size is expected to witness high growth. The global External Fixators Market is estimated to be valued at US$ 1319.55 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031.
Regional analysis shows that North America dominates the market currently owing to rising incidence of orthopedic injuries and availability of advanced healthcare facilities in the region. Europe is also expected to grow at a significant rate during the forecast period. The external fixators market in Asia Pacific is estimated to grow at the fastest rate during the forecast period, supported by increasing healthcare expenditure, growing geriatric population, and improving access to healthcare in developing nations like India and China.
Key players operating in the external fixators market are 3M, MAPEI S.p.A., Fosroc, Inc., Sika AG, Evonik, Chembond Chemicals Limited, ACC Limited, Flowcrete Group Ltd., SWC Brother Company Limited, and Cera-Chem Pvt. Ltd. Rising investments in product innovation and expansion of manufacturing facilities are the key strategies adopted by major players to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
