Osteosynthesis Devices Market Size, Share & Trends Analysis Report By Type (Internal, External), By Material (Degradable, Non Degradable), By Fracture (Facial bones, Skull), By Region, And Segment Forecasts, 2024 - 2030

Osteosynthesis Devices Market Size, Share & Trends Analysis Report By Type (Internal, External), By Material (Degradable, Non Degradable), By Fracture (Facial bones, Skull), By Region, And Segment Forecasts, 2024 - 2030

Osteosynthesis Devices Market Growth & Trends

The global osteosynthesis devices market size is expected to reach USD 17.20 billion by 2030, growth at a CAGR of 8.30% from 2024 to 2030, according to a new report by Grand View Research, Inc. Factors such as the increasing incidence of proximal fractures in the geriatric population due to falling, growing product innovation, increasing prevalence of osteoporosis among the elderly population, and growing product adoption by end users fueling the market growth. For instance, according to the World Health Organization (WHO), 684,000 fatal falls occur annually . Furthermore, the quick transition to noninvasive osteosynthesis technology demonstrates the growing potential for market growth.

The rise in sports injuries and road accidents fuels the market growth. For instance, according to data published by the Government of Canada, the total number of road accident injuries increased to 118,853 in 2022, up 9.5% from 2021. Moreover, increasing awareness and access to minimally invasive surgeries due to the multiple benefits offered by these surgeries are other key factors propelling the market growth.

Furthermore, the number of spinal cord injuries (SCIs) has considerably increased due to increased traffic accidents. For instance, according to the Indian Spinal Injuries Centre’s (ISIC) data recorded between 2012 and 2022 , the prevalence of spinal cord injuries caused by road traffic accidents is approximately 44%. Moreover, according to the National Spinal Cord Injury Statistical Center (NSCSC), causes of SCIs in clude motor vehicle accidents involving bulldozers and cars, forklifts, steam rollers, and other vehicles. In addition, according to the Spinal Injuries Association,approximately 50,000 individuals in the UK are living with a spinal cord injury (SCI), with an additional 2,500 people sustaining injuries or receiving a diagnosis annually equivalent to one new case every four hours. Thus, such a rise in cases of SCIs drives the market growth.

Some of the key players in the market are DePuy Synthes (Johnson & Johnson), Stryker, Zimmer Biomet, Smith+Nephew, GS Medical, Life Spine, Inc., MicroPort Orthopedics, Inc, Precision Spine, Inc., Globus Medical, Arthrex, Medtronic, and Lepu Medical Technology (Beijing) Co.,Ltd.. Players are adopting key strategic initiatives to expand their business footprint and grow their clientele. For instance, in October 2023, Ulrich Medical USA, a spine technology company, launched the Momentum MIS Posterior Spinal Fixation System. It features a tab-based system with extended screw tabs, a narrow profile, and detachable rings for strengthened support. In addition, it includes conical screws with fenestrated, cannulated screw options.

steosynthesis Devices Market Report Highlights

• Based on type, the internal device segment dominated the market in 2023 and accounted for the largest revenue share owing to the rising popularity of minimally invasive surgery and growing awareness regarding technologically advanced osteosynthesis devices
• Based on material, the non-degradable segment dominated the market in 2023. Growing adoption of novel and innovative products such as stainless-steel volar plates helps the manufacturer stand out globally and boost sales
• Based on fracture, patella, tibia or fibula, or ankle segment dominated the market in 2023 owing to the rise in the number of road accidents and sports injuries
• North America dominated the global market in 2023 due to the presence of a large number of market players, government initiatives to accelerate the research for osteoporosis, and the launch of a diverse range of products

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