What is Global External Fixation Products Market?
The Global External Fixation Products Market is a vast and dynamic sector that encompasses a wide range of medical devices used to treat bone fractures and deformities. These products are designed to stabilize and support fractures externally, allowing for optimal healing and recovery. The market is driven by several factors, including the increasing prevalence of orthopedic conditions, advancements in medical technology, and the growing demand for minimally invasive surgical procedures. The market is also influenced by various regulatory policies and healthcare reforms across different regions. As of 2023, the market was valued at US$ 1900 million and is projected to reach US$ 3633 million by 2030, growing at a CAGR of 9.5% during the forecast period 2024-2030.
Stainless Steel, Titanium, Others in the Global External Fixation Products Market:
The Global External Fixation Products Market is segmented based on the type of material used in the products, including Stainless Steel, Titanium, and Others. Stainless Steel is a popular choice due to its durability, corrosion resistance, and affordability. Titanium, on the other hand, is favored for its lightweight and biocompatibility, making it ideal for long-term use. Other materials used in external fixation products include carbon fiber and plastic, each offering unique advantages and disadvantages. The choice of material largely depends on the specific requirements of the patient and the nature of the injury.
Upper Extremities, Lower Extremities in the Global External Fixation Products Market:
The Global External Fixation Products Market finds its application in various areas, primarily in treating fractures and deformities in the Upper and Lower Extremities. In the case of Upper Extremities, these products are used to treat fractures in the arms, wrists, and hands. They provide stability and support, allowing the bones to heal correctly. For Lower Extremities, external fixation products are used for fractures in the legs, ankles, and feet. They play a crucial role in managing complex fractures and deformities, facilitating proper alignment and healing.
Global External Fixation Products Market Outlook:
Looking at the market outlook, the Global External Fixation Products Market has shown significant growth over the years. In 2023, the market was valued at US$ 1900 million. With the increasing demand for these products and advancements in medical technology, the market is expected to reach a value of US$ 3633 million by 2030. This indicates a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period of 2024 to 2030. It's also worth noting that the top five global players hold about 70% of the market share, demonstrating the competitive nature of this market.
| Report Metric | Details |
| Report Name | External Fixation Products Market |
| Accounted market size in 2023 | US$ 1900 in million |
| Forecasted market size in 2030 | US$ 3633 million |
| CAGR | 9.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Consumption by Region |
|
| By Company | J & J (J&J), Stryker, Zimmer Biomet, Smith & Nephew, Wright Medical, Acumed, B Braun, OsteoMed, Orthofix, Medartis, Globus Medical, Lima Corporate, Medtronic, MicroPort |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
