Portland, OR, March 28, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global osteosynthesis devices market was estimated at $9.06 billion in 2021 and is expected to hit $14.21 billion by 2031, registering a CAGR of 4.6% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $9.06 Billion |
| Market Size in 2031 | $14.21 Billion |
| CAGR | 4.6% |
| No. of Pages in Report | 256 |
| Segments Covered | Device Type, Fracture Type, End-User, and Region |
| Drivers | Rise in the prevalence of orthopedic disorders |
| Increase in the number of accidents and sports injuries | |
| Restraints | Complications associated with osteosynthesis devices |
| High cost of surgery | |
| Opportunities | Launch of novel osteosynthesis devices |
Impact of Covid-19 on Osteosynthesis Devices Market
- The global osteosynthesis devices market experienced a downturn during the pandemic due to rise in the number of canceled appointments with orthopedists and disruptions in the supply chain.
- However, as the global situation started improving, the market also returned to its previous trajectory slowly and steadily.
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The global osteosynthesis devices market is analyzed across device type, fracture type, end-users, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By device type, the internal fixation devices segment held the largest share in 2021, garnering more than two-thirds of the global osteosynthesis devices market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 4.9% during the forecast period.
By fracture type, the hip fracture segment contributed to more than one-fourth of the global osteosynthesis devices market share in 2021 and is projected to rule the roost by 2031. The same segment would also showcase the fastest CAGR of 5.5% during the forecast period.
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By end-user, the hospitals segment accounted for the highest share in 2021, generating more than two-fifths of the global osteosynthesis devices market revenue. The same segment would also portray the fastest CAGR of 5.2% during the forecast period.
By region, the market across North America held the major share in 2021, garnering more than two-fifths of the global osteosynthesis devices market revenue. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 5.9% from 2022 to 2031. The other provinces studied through the report include Europe and LAMEA.
The key market players analyzed in the global osteosynthesis devices market report include Zimmer Biomet Inc., Arthrex, Inc., Johnson & Johnson (DePuy Synthes, Inc.), Inc., GS Solutions, Inc., Life Spine, Inc., Medtronic plc, Precision Spine, Inc, Globus Medical, Smith & Nephew, and Stryker Corporation. These market players have embraced several strategies including product launch, product development, and product approval to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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