Published Date: 20-Jan-2023
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Osteosynthesis Devices Market size is expected to reach $14.2 billion by 2028, rising at a market growth of 8.0% CAGR during the forecast period.
The External segment is showcasing a CAGR of 10.5% during (2022 - 2028). When internal fixation cannot be performed as the primary type of treatment, external fixators are often employed to provide a supportive framework for the shattered bone. In addition, the growing acceptance of minimally invasive surgery, which also continues to lure new competitors from outside, is keeping up the demand for external fixation osteosynthesis devices.
The Nondegradable segment acquired maximum revenue share in the Global Osteosynthesis Devices Market by Material in 2021 thereby, achieving a market value of $11.1 billion by 2028. The market segment is being expanded by businesses creating solutions for the increasing anatomic plate and screw sectors, especially for less common indications. For instance, Smith & Nephew debuted their EVOS WRIST anatomic plating system in the US in 2019. EVOS WRIST provides titanium and stainless steel plates for various anatomies, such as the forearm, volar, and dorsal.
The Patella, Tibia or Fibula, or Ankle segment has shown the growth rate of 5.7% during (2022 - 2028). However, the lower extremities, as well as the hip and pelvis, account for the bulk of market shares since a rising number of businesses are entering this market with new goods and acquiring existing ones. For instance, by purchasing Wright Medical Group in November 2020, Stryker increased the scope of its product offering and solidified its position as the market leader.
The North America market dominated the Global Osteosynthesis Devices Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.9 billion by 2028. The Europe market is exhibiting a CAGR of 7.8% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 9.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of DePuy Synthes, Inc. (J & J Company), Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew PLC, Medtronic PLC, Olympus Corporation, Globus Medical, Inc., Arthrex, Inc., Lepu Medical Technology Co., Ltd, and Life Spine, Inc.
By Fracture Type
Unique Offerings from KBV Research