External Fixators Industry Overview
The global external fixators market size was valued at USD 854.5 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028.
The growing burden of chronic diseases is boosting the need for surgical interventions, which is fueling the growth of the market. Moreover, the continuously rising target patient population along with rising cases of car accidents are promoting the market growth. With the first wave of the COVID-19 pandemic, many countries made the required decision to postpone all non-emergency surgical procedures to free up people and resources to care for COVID-19 patients. As stated by a new study circulated in the Annals of Surgery, the charge of halting major elective surgery all through the COVID-19 is projected to be USD 22.3 billion in the U.S.
Gather more insights about the market drivers, restrains and growth of the Global External Fixators Market
Approximately 10 million individuals in the U.K. were waiting for surgical procedures in 2020, up from 4 million before the COVID-19 pandemic hit. Amongst them are almost 100,000 patients whose joint replacement surgeries were annulled all through the first COVID-19 movement. Therefore, in the coming years, it is estimated that the market will recover rapidly after the resumption of surgical procedures at full force.
The industry players also reported a decline in sales in the first two quarters of 2020 and then a gradual recovery afterward. For instance, Nuvasive reported a 70% case volume decline in 2020 Q2 from the prior year. Orthofix reported 6% revenue growth in 2020 Q3 from the last year. Clinics began offering online video appointments while some opened with limited operations, using screening protocols and curbside services, which are expected to propel the market growth gradually.
There is an overall increase in the prevalence of chronic disorders, such as diabetes, which is also boosting the demand for external fixators. Throughout the world, it is estimated that every 30 seconds a leg is amputated and 85% of these amputations were the results of a diabetic foot ulcer. According to a 2019 study by the CDC, 27.7% of adults who have arthritis are obese and 33.7% of them are also diabetic. According to the American Diabetes Association, there was around a 64% increase in minor Nontraumatic Lower-Extremity Amputations (NLEA) and a 30% increase in major NLEAs, between 2009 2018.
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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:
External Fixators Product Outlook (Revenue, USD Million, 2016 - 2028)
- Manual
- Computer-aided
External Fixators Fixation Type Outlook (Revenue, USD Million, 2016 - 2028)
- Unilateral Bilateral
- Circular
- Hybrid Others
External Fixators End-user Outlook (Revenue, USD Million, 2016 - 2028)
- Hospitals
- Ambulatory Surgical Centers (ASCs)
- Orthopedic and Trauma Centers
External Fixators Application Outlook (Revenue, USD Million, 2016 - 2028)
- Orthopedic Deformities
- Fracture Fixation
- Infected Fracture
- Limb Correction
- Others
External Fixators Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Share Insights
- January 2021: Stryker acquired OrthoSensor, Inc., a frontrunner in the digital evolution for total joint replacement, to strengthen its market position.
- August 2020: Smith+Nephew launched ARIA, a digital platform and application for connecting the delivery of patient care with providers, expanding the company’s offerings.
Key Companies profiled:
Some of the prominent players 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.Ş.
- Auxein Medical
- Acumed
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