External Fixation System Market Expected to Reach US$ 1,558.48 Million by 2031 | Growth Plus Reports

Newark, New Castle, USA, April 25, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Growth Plus Reports, the global External Fixation System Market was valued at US$ 974.13 million in 2022 and is expected to surpass US$ 1,558.48 million by 2031, at a revenue CAGR of 5.36%. The report analyzes top winning strategies, drivers & opportunities, competitive scenarios, wavering market trends, market size, statistics & estimations, and major investment pockets.

Key Takeaways:

• The rising prevalence of bone degenerative diseases will provide plenty of growth opportunities for the external fixation system market.
• North America will dominate the global external fixation system market.
• Increasing orthopaedic illnesses will fuel the growth of the external fixation system market.

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                              External Fixation System Market Scope

Market Drivers

The ageing of the population, the high frequency of bone degenerative diseases, and the increased incidence of sports injuries are the primary factors driving the revenue growth of the global market. Furthermore, improvements in technology and increase in numerous orthopaedic illnesses will support market revenue growth.

Market Segmentation

Growth Plus Reports has analyzed the global external fixation system market from three perspectives: Product, Type, Application, End User, and Region.

Product Segmentation: Based on the product, the global external fixation system market is segmented into manual fixators and computer-aided fixators. The computer-aided fixators segment dominates the market with the largest revenue share because Computer-assisted external fixation techniques can be used to treat open shaft fractures. They allow for either quick or gradual modification. Preoperative planning and assistive equipment with depth measurements can help to shorten the procedure.

Type Segmentation: Based on the type, the global external fixation system market is segmented into unilateral, bilateral, circular, hybrid, and others. The circular segment dominates the market with the largest revenue share because they are more commonly used in complicated anomalies that need repair and lengthening in all dimensions.

Application Segmentation: Based on the application, the global external fixation system market is segmented into orthopedic deformities, fracture fixation, infected fracture, limb correction, and others. The fracture fixation segment dominates the market with the largest revenue share because fracture fixation can be accomplished in a variety of methods, with a variety of external fixation systems available.

End-User Segmentation: Based on the end-user, the global external fixation system market is segmented into hospitals, ambulatory surgical centers, orthopedic and trauma centers. The hospital segment dominates the market with the largest revenue share because outpatient hospital visits are increasing as a result of post-operative treatment and the availability of competent specialists.

Regional Growth Dynamics

Based on the region, the global external fixation system market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the global external fixation system market due to the presence of a well-established healthcare infrastructure, industry giants, and payment coverage, as well as the nation’s expanding diabetes prevalence.

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Competitive Landscape

The major players operating in the global external fixation system market are:

• Johnson & Johnson Services Inc. (DePuy Synthes)
• Orthofix Holdings Inc.
• Ortho-SUV Ltd.
• Response Ortho LLC
• Smith & Nephew
• Stryker Corporation
• Zimmer Biomet
• Auxein Medical
• Acumed
• Tasarimmed Tıbbi Mamuller San. Tic A.Ş
• Orthopaedic Implant Company (“OIC”)
• Gexfix SA
• WishBone Medical Inc.
• Matrix Meditech

The external fixation system market is moderately competitive with few key players. Key players operating in the market are implementing competitive sustainability tactics such as product development and regional presence growth. Major firms are aggressively acquiring other companies to strengthen their global market positions.

Recent developments:

• Orthofix announced in March 2022 that it has gained 510(k) approval from the United States Food and Drug Administration (USFDA) for its TrueLok Evo Ring Fixation system. TrueLok is an innovative carbon fibre external fixation system which develops a lightweight device for patient comfort.
• Johnson & Johnson’s DePuy Synthes announced the acquisition of OrthoSpin in December 2021. OrthoSpin, founded in Israel, creates a robot-assisted external fixation device for orthopaedic procedures.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022) 
   3. Regulatory Landscape
   4. Reimbursement Scenario 
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL EXTERNAL FIXATION SYSTEM MARKET - ANALYSIS & FORECAST, BY PRODUCT
   1. Manual Fixator
   2. Computer-aided Fixators
6. GLOBAL EXTERNAL FIXATION SYSTEM MARKET - ANALYSIS & FORECAST, BY TYPE
   1. Unilateral 
   2. Bilateral
   3. Circular
   4. Hybrid
   5. Others
7. GLOBAL EXTERNAL FIXATION SYSTEM MARKET - ANALYSIS & FORECAST, BY APPLICATION
   1. Orthopedic Deformities
   2. Fracture Fixation
   3. Infected Fracture
   4. Limb Correction
   5. Others
8. GLOBAL EXTERNAL FIXATION SYSTEM MARKET - ANALYSIS & FORECAST, BY END USER
   1. Hospitals
   2. Ambulatory Surgical Centers
   3. Orthopedic and Trauma Centers

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• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

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• Customer Base Assessment
• Investment & Initiatives Analysis
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