The growing number of sports-related injuries, and road accidents, in tandem with the rising cases of limb deformities have been driving the sales of external fixators. As per the World Health Organization (WHO) estimations, over 1MN individuals die globally in road collisions every year.
Valley Cottage, NY -- (SBWIRE) -- 03/01/2019 -- The external fixators market is projected to continue its steady growth on account of the widespread prevalence of osteoporosis coupled with rising incidences of accidental fractures. The external fixators market is estimated to expand at a high CAGR of 8.5% during the report period (2018–2028), with market valuation surpassing the US$ 3 billion mark by 2028 end. According to the FMI external fixators market report, technologically and innovative advancements are anticipated to further firm-up the adoption of external fixators.
In recent years, orthopedic treatments have witnessed a paradigm shift from the conventional highly-invasive to minimally-invasive procedures as the latter promises early return-to-motion with negligible infection risks. The computer-aided external fixators have been built upon the strengths of conventional external fixators by boosting the device convenience and versatility in complex cases. The FMI report on external fixators market opines that computer-aided external fixators could witness increased adoption, expanding considerably in the forthcoming years.
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"Alternative orthopedic disorders' treatment options, including bone glue designed for joint replacement, could hinder global external fixators market growth considerably. Several external fixators' manufacturers are prioritizing novel technologically-advanced product development, but stringent rules and regulations in tandem with the lengthy approval procedures are making market-penetration challenging for new devices. This is prompting patients to opt for external fixators' alternative. Additionally, widespread prevalence of surgical-site infections in the case of orthopedic trauma operations over surgical specialties, is another vital factor ebbing progress of external fixators market," says a lead analyst at Future Market Insights.
Amid the numerous challenges in external fixators market, manufacturers are increasingly focusing on novel product launches, mergers, expansion, acquisitions, and deals, while also implementing forward growth strategies to proliferate the sales of their offerings in broader geographies. As per FMI external fixators market report, manufacturers are also prioritizing New Product Development (NPD) strategies to reinforce their footprint in Asia Pacific region, which is the hotbed of opportunities in external fixators market. External fixators' manufacturers are leveraging 3D printing to build patient-focused devices with complex internal structures. Owing to 3D printings' myriad benefits in the orthopedic industry, such an inclusion is expected to fuel sales of external fixators.
As per the FMI report on external fixators market, moguls in the external fixators market, including the leading four players Stryker Corporation, Smith & Nephew, DePuy Synthesis, and Zimmer, accumulatively hold nearly half the external fixators market share. The external fixators market represents a highly consolidated landscape, with most of the growth opportunities emerging in North America. However, the report comprehends that a fortified global external fixators market will result in high-priced devices.
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Geographically, North America is projected to hold roughly 35% share of external fixators market, however, New Zealand and Australia are anticipated to present most lucrative growth opportunities in Asia Pacific market, followed by Latin America and Middle-East and Africa. The external fixators' manufacturers are targeting emerging markets owing to increased procedural awareness, in tandem with sophisticated diagnostics capabilities in these regions, propelled by proliferating demand for affordable and quality healthcare.