Global External Fixators Market by End-user (Hospitals, ASCs), by Product (Computer-aided, Manual), by Application (Limb Correction, Fracture Fixation) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global external fixators market was valued at USD 854.5 Million in 2020. It is expected to increase at a compound annual rate (CAGR of 4.0%) between 2021 and 2028. The market is growing due to the increasing prevalence of chronic diseases. The market is also being driven by the growing number of patients and increasing cases of car accidents. Many countries took the necessary decision to delay all non-emergency surgery in order to make it easier to care for COVID-19 victims. According to a new study published in Annals of Surgery and cited in the Annals of Surgery: The cost of stopping major elective surgery throughout the COVID-19 pandemic is USD 22.3 billion.

In 2020, approximately 10 million people in the U.K. waited for surgery. This is an increase of 4 million who were in line before the COVID-19 pandemic. Nearly 100,000 people are among them, whose joint replacement surgeries were cancelled during the COVID-19 movement. It is expected that the market will quickly recover after full resumption surgical procedures in the next years.

Industry players reported that sales declined in the first quarter of 2020, followed by a gradual recovery. Nuvasive, for example, reported a 70% decrease in case volume in Q2 2020 compared to the previous year. Orthofix saw a 6% increase in revenue for 2020 Q3 compared to the previous year. Online video consultations were introduced by some clinics, while others opened with limited operations. Some of these new services will be used to accelerate market growth.

Market for External Fixators: Impacted due to the delayed and suspended elective surgery due to COVID-19

The prevalence of chronic diseases like diabetes is increasing, which is increasing the need for external fixators. It is estimated that one leg is lost every 30 seconds in the world. 85% of these amputations are due to a diabetic foot ulcer. A 2019 study by CDC found that 27.7% of arthritis patients are overweight and 33.7% are also diabetic. The American Diabetes Association reported that there was a 64% increase of minor Nontraumatic Lower Extremity Amputations (NLEA) between 2009 and 2018. There was also a 30% increase for major NLEAs.

Product Insights

Computer-aided products accounted for 63% of the total revenue in 2020. This is due to increased use of these products and technological advances in this sector. This segment will grow at the fastest rate of CAGR between 2021 and 2028. These devices combine the principle and software of Ilizarov. They are available in many varieties. These devices have many advantages over manual ones, including a lower infection rate and higher accuracy. This is a major boost to the segment's growth.

Computer-aided fixators offer many other benefits, including a shorter surgery time, less fluoroscopy, a quicker recovery, and the ability to correct the deformity without the need of a second surgery. Preoperative planning and depth-measured assistant devices are expected to reduce the time it takes to perform surgery, which will fuel the demand. However, in developing countries, the cost and necessity of learning computer software could limit segment growth.

Fixation Type Insights

The segment of circular fixation had the highest revenue share at over 40% in 2020. It will continue to grow at the second-fastest rate CAGR between 2021 and 2028. These devices are minimally invasive, modular, and have biomechanical characteristics that allow for growth. These devices are becoming increasingly popular in trauma centers and orthopedic clinics. To increase their market share, industry players are also creating new products. AMDT Holdings Inc., for example, launched the SixFix Circular Fixation system to correct foot and ankle deformities in February 2020.

Over the forecast period, the fastest growth rate is expected for the hybrid segment. These devices are most commonly used for proximal and middle tibia fractures. These devices have many advantages such as less bleeding and shorter operating times, lower risk of infection, and shorter hospital stays. This is driving segment growth. Johnson & Johnson purchased Verb Surgical Inc. in February 2020 to create data-driven digital capabilities that make medical procedures easier, more personal, and smarter.

Application Insights

In 2020, the fracture fixation segment accounted for more than 40% of total revenue. This segment will continue to hold its position as the leader in the forecast period due to the increasing number of fracture-related injury. A Royal Society of Medicine study found that approximately 25% of all injuries in 2019 were fracture-related. The segment growth is also being boosted by the increasing number of fragility fractures in older people.

The segment of limb correction applications is expected to grow at the fastest rate over the forecast period. The key driver of segment growth is the increased demand for limb reconstructive surgeries. Segment growth is also being driven by the availability of more advanced treatments with less risk and shorter surgery times. Orthofix Medical acquired assets from FITBONE, an intramedullary lengthening device that allows for limb lengthening.

End-user insights

Hospitals had the highest revenue share at more than 50% in 2020, due to advanced treatment options and high patient footfall. The segment is also benefiting from favorable reimbursement policies and an increase in the number of hospital-based surgeries. The segment that serves as an end-user for orthopedic and trauma centers is expected to see the highest CAGR during the forecast period.

This can be attributed to an increase in chronic diseases and the number sports injuries & traumas. This has led to an increase in patients visiting orthopedic clinics to treat fracture fixation, limb correction, and infected fracture. The segment growth of orthopedic and trauma centers will be driven by this. The segment is also expected to grow due to a significant increase in specialty clinics like those that cater to orthopedic physicians.

Regional Insights

North America dominated the global market in 2020 with a 34% revenue share. This growth is due to the demand for innovative healthcare facilities, the well-developed healthcare infrastructure, the business giants and the reimbursement coverage. According to the National Safety Council, exercise with or without equipment was responsible for approximately 468,000 injuries in the United States in 2019. This is the highest number of any type of sport and recreation. The market is expected to grow due to the increasing number of sports injuries. The market is also being driven by the rising prevalence of diabetes in the country.

Asia Pacific is expected to be the fastest growing regional market during the forecast period. This is due to rising healthcare spending, rapidly evolving healthcare infrastructure, and growing medical tourism. Market growth will also be driven by supportive government initiatives, a rise of diabetes-related amputations and road accidents. According to the Asian Diabetes Prevention Initiative (ADPI), Asia accounts for 60% of the world's diabetes population.

Market Share Insights & Key Companies

With many small and large industry players, the market is fragmented. To increase market share, key players are implementing business strategies that include regional expansions, diversifying product offerings, collaborations and partnerships, as well as new product launches. To strengthen its market position, Stryker purchased OrthoSensor, Inc. in January 2021. This company was a leader in digital evolution for total joint repair. Smith+Nephew introduced ARIA in August 2020. This is a digital platform that connects patients with their providers. It expands the company's offerings. The following are some of the most prominent players in the global market for external fixators:

• Johnson & Johnson Services, Inc.

• Stryker

• Zimmer Biomet

• Smith+Nephew

• Orthofix Medical, Inc.

• Ortho-SUV Ltd.

• Response Ortho

• Tasarimmed Tabbi Mamuller S. Tic A.

• Auxein Medical

• Acumed

Up Market Research published a new report titled “External Fixators Market research report which is segmented by End-user (Hospitals, ASCs), by Product (Computer-aided, Manual), by Application (Limb Correction, Fracture Fixation), By Players/Companies Smith+Nephew, Stryker, Auxein Medical, Response Ortho, Johnson & Johnson Services Inc (DePuy Synthes), Acumed, Orthofix Medical Inc, Zimmer Biomet, Tasarimmed T?bbi Mamuller San Tic A?, Ortho-SUV Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global External Fixators Market Report Segments:

The market is segmented by End-user (Hospitals, ASCs), by Product (Computer-aided, Manual), by Application (Limb Correction, Fracture Fixation).

External Fixators Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the External Fixators Market

Overview of the regional outlook of the External Fixators Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The External Fixators Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of External Fixators Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Hospitals

                2. ASCs

                1. Computer-aided

                2. Manual

                1. Limb Correction

                2. Fracture Fixation

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the External Fixators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the External Fixators Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.