External Fixators Market Anticipated Forecast 2028 In Key Regions

External Fixators Industry Overview

The global external fixators market size is expected to reach USD 1.16 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.0% from 2021 to 2028. The growing incidence of chronic diseases and the rise in the number of sports-related injuries are boosting the market growth. According to the Canadian Institute of Health, from 2018 to 2019, around 18,000 people were hospitalized due to sports-related injuries. Moreover, the rapidly increasing number of road accidents is expected to boost the need for external fixation surgeries. For instance, according to the Association for Safe International Road Travel (ASIRT), in 2019, around 20 to 50 million people in the U.S. were injured or disabled due to road accidents.

External Fixators Market Segmentation

Grand View Research has segmented the global external fixators market on the basis of product, fixation type, end-user, application, and region:

Based on the Product Insights, the market is segmented into Manual and Computer-aided.

• The computer-aided product segment held the largest revenue share of over 63% in 2020 owing to the increased usage of these products and technological advancements in this segment. The segment will expand further at the fastest CAGR from 2021 to 2028. 
• Moreover, its advantages over manual devices, such as reduced infection rate and increased accuracy, are further boosting the segment growth.

Based on the Fixation Type Insights, the market is segmented into Unilateral & Bilateral, Circular, Hybrid & Others.

• The circular fixation type segment held the largest revenue share of over 40% in 2020 and will expand further at the second-fastest CAGR from 2021 to 2028. The growth can be attributed to the minimally invasive application, modularity, and biomechanical characteristics of these devices. 

• The hybrid segment is expected to show the fastest growth rate over the forecast period. These devices are mostly used in the case of proximal tibia fractures. The advantages, such as less bleeding, shorter operative time, low risk of infection, and shorter hospital stays, of these devices are propelling their demand, thereby fueling the segment growth.

Based on the End-user Insights, the market is segmented into Hospitals, Ambulatory Surgical Centers (ASCs), Orthopedic and Trauma Centers.

• The hospitals end-user segment held the largest revenue share of more than 50% in 2020 owing to the availability of advanced treatment options and a high number of patient footfall under these facilities. Moreover, favorable reimbursement policies and an increasing number of surgeries performed in hospitals are further boosting the segment’s revenue.
• The orthopedic & trauma centers end-user segment is expected to register the fastest CAGR over the forecast period. This growth can be credited to an increase in the prevalence of chronic diseases and the number of sports injuries & trauma accidents.

Based on the Application Insights, the market is segmented into Orthopedic Deformities, Fracture Fixation, Infected Fracture, Limb Correction, Others.

• The fracture fixation application segment held the largest revenue share of over 40% in 2020. The segment will retain its leading position throughout the forecast period on account of the growing number of fracture-related injuries.
• The limb correction application segment is expected to register the fastest CAGR over the forecast period. Increased demand for limb reconstruction surgeries is the key factor propelling the segment growth. In addition, the availability of advanced treatment options with lesser risk and reduced surgery time is augmenting the segment growth.

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External Fixators Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is fragmented with the presence of many large- and small-scale industry players. Key players are adopting business strategies including regional expansions, diverse product offerings, collaborations & partnerships, and new product launches to gain a higher market share.  

Some of the prominent players operating in the global external fixators market include,

• Johnson & Johnson Services, Inc. (DePuy Synthes)
• Stryker
• Zimmer Biomet
• Smith+Nephew
• Orthofix Medical, Inc.
• Ortho-SUV Ltd.
• Response Ortho
• Tasarimmed Tıbbi Mamuller San. Tic A.Åž.
• Auxein Medical
• Acumed

Order a free sample PDF of the External Fixators Market Intelligence Study, published by Grand View Research.