Rib Fracture Repair Systems Market Size, Share & Trends Analysis Report By Product (U Plate, Anterior Plate), By Material (Titanium, PEEK), By End-use (Hospitals, Outpatient Facilities), By Region, And Segment Forecasts, 2024 - 2030

Rib Fracture Repair Systems Market Size, Share & Trends Analysis Report By Product (U Plate, Anterior Plate), By Material (Titanium, PEEK), By End-use (Hospitals, Outpatient Facilities), By Region, And Segment Forecasts, 2024 - 2030

Rib Fracture Repair Systems Market Growth & Trends

The global rib fracture repair systems market size is expected to reach USD 382.41 million by 2030, registering a CAGR of 4.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is driven by the increasing occurrence of accidental cases, leading to rib fracture cases and a rising number of rib fracture injuries in sports. For instance, as per the Ohio State University report, approximately 6.3 million fractures happen annually in the U.S., with a yearly rate of 2.4 per 100 population. The rate of fractures for men is higher at 2.8 per 100 population compared to women at 2.0 per 100.

Continuous innovations and developments in rib fracture repair systems, such as improved fixation devices, minimally invasive techniques, and patient-specific implants, are driving the adoption of these systems. Advanced technologies offer better outcomes, faster recovery times, and improved patient satisfaction, contributing to market growth. Furthermore, there is a growing recognition of the benefits of surgical interventions for rib fractures, particularly in multiple or displaced fractures. This increased awareness among healthcare professionals and patients drives the adoption of rib fracture repair systems.

The elderly population is at a higher risk of sustaining rib fractures due to factors such as osteoporosis, reduced bone density, and an increased risk of falls. Furthermore, the elderly population with rib fractures leads to increasing mortality and morbidity than younger patients. For instance, in a 2023 article published in Scholastica, it was reported that in older adults, the risk of mortality increases by 19% for each additional rib fracture compared to younger patients. In addition, the likelihood of pneumonia also increases by 27%.

Manufacturers are involved in strategic initiatives such as gaining approvals and new product launches. For instance, in January 2020, Dr. Jeff Choi, was honored with the 2020 Martin Resident Fellowship in Chest Wall Injury Outcomes Research from the KLS Martin Group and Chest Wall Injury Society. His project "Development and Validation of a Rib Fracture Frailty Index” was funded by a USD 25,000 grant.

Rib Fracture Repair Systems Market Report Highlights

• Based on product, U plate segment held the largest revenue share in the market in 2023 and anterior plate is expected to grow at a significant CAGR during the forecast period. U-plates offer several advantages over traditional methods of rib fracture treatment, such as strapping or external bracing. They provide rigid fixation and stabilization of fractured ribs, promoting better alignment and faster healing
• Based on material, the titanium segment accounted for the largest revenue share in 2023 and PEEK is expected to grow at a significant CAGR. This can be attributed to high biocompatibility, well-tolerated by the human body and has a low risk of causing adverse reactions or rejection. This biocompatibility reduces the risk of postoperative complications and improves patient outcomes. The strength and durability of titanium allow for the design of smaller and more streamlined implants, which can be used in minimally invasive surgical procedures
• Based on end use, the outpatient facilities segment accounted for the largest revenue share in 2023 and hospitals segment is expected to grow at a significant CAGR. This can be attributed to many patients’ preferring outpatient procedures due to the convenience, reduced risk of hospital-acquired infections, and reduced stay time. This patient preference has driven the demand for outpatient rib fracture repair services
• North America dominated the global market due to the presence of many major market players, relatively high incidence of traumatic injuries, including motor vehicle accidents, falls, and sports-related injuries, which can lead to rib fractures. This high incidence drives the demand for effective rib fracture repair solutions

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