External Fixators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

External Fixators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The external fixators market is expected to register a CAGR of 5.4% during the forecast period (2022-2027).

The worldwide COVID-19 pandemic has eclipsed the attention of healthcare professionals, affecting all areas of health and diagnostics care. The crisis has had several indirect health effects as well. The unprecedented changes due to COVID-19 have had long-term implications on the life of people all around the globe. The COVID-19 pandemic has affected various global sectors and so had a significant impact on the external fixator market. The industry players also reported a decline in sales in the first two quarters of 2020 and then a gradual recovery afterward. For instance, the 2021 annual report of Nuvasive reported a 70% case volume decline in 2020 Q2 from the prior year, however, the market shows a subset increase in revenue, as the 2021 annual report of Orthofix reported a 6% revenue growth in 2020 Q3 from the last year.

The main driving factors also include growth in the geriatric population, high prevalence of bone degenerative diseases, and increasing incidence of sports injuries worldwide. According to the World Health Organization (WHO), in 2020, more than 1.25 million people die every year because of road traffic crashes and accidents. Road traffic injuries are the leading cause of death among people aged between 15 and 29 years. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability because of their injury. Hence, these above-stated statistics show that the increasing number of road injuries and accidents is affecting the global population, which is ultimately increasing the demand for trauma fixation devices in healthcare facilities.

The demand for external fixation devices is growing due to the advantages of advanced products such as bioresorbable implants, drug-eluting implants, and nano-coated devices. Technological advancements and other innovations are resulting in the development of advanced and pain-free surgeries. Also, the innovation of some new software in these surgical procedures is driving the market. For instance, in 2020 WishBone Medical, Inc., announced its United States Food and Drug Administration (USFDA) 510(k) clearance on its Smart Correction External Fixation System, which comprises hexapod external fixator hardware and proprietary planning software. The WishBone Medical Smart Correction System is a hexapod external fixator used to stabilize and maintain alignment of complicated fractures, soft tissues, and/or congenital deformity repairs. The System is intended for the treatment of open and closed fractures, arthrodesis, and pseudoarthrosis of long bones, as well as limb lengthening, deformity, angular correction, boney or soft tissue defect correction, and malunions. Thus, technological development is driving the market and increasing the demand for external fixators.

Thus, due to the aforesaid mentioned reasons, the external fixation segment is expected to show a significant over the forecast period. However, the availability of alternative treatments in line with the shortage of skilled orthopedic surgeons may slow down the growth of this market over the forecast period.

Key Market TrendsFracture Fixation is Expected to Witness Significant Growth over the Forecast Period

Fixation in orthopedics is the process by which an injury is rendered immobile. When a bone is broken (or fractured) and the pieces are sufficiently out of alignment or potentially unstable, then they need to move back into position and stabilized. These are also referred to as bone resets.

There are various methods to perform fracture fixation and certainly various types of implants that can be considered. These implants are being improved upon very frequently with new technological advancements and with a better understanding of how fractures heal best. The surgical procedures themselves are now becoming more and more minimally invasive as they decrease the overall trauma to the area of injury and protect the local skin and muscles to a much greater extent. The high incidence of bone fractures is expected to drive the growth of the concerned segment of the market across the globe. For instance, in 2021 an article titled, “The Incidence of Fractures Among the Adult Population of Germany” the incidence of fractures rose by 14%, to 1,014 fractures per 100,000 persons per year over the last decade. The same article also quoted that the most common fracture types were femoral neck fractures (120 per 100,000 persons per year), pertrochanteric femoral fractures (109 per 100,000 persons per year), and distal radius fractures (106 per 100,000 persons per year). The increasing frequency of fractures, particularly among the elderly population is increasing the demand for external fixation surgical treatment, thereby driving the market segment.

Thus, due to the aforesaid mentioned reasons, the external fixation segment is expected to show a significant over the forecast period.

North America is Expected to Dominate the Global External Fixators Market over the Forecast Period

North America is expected to witness a surge in the future due to the easy availability of technologically advanced products, well-established healthcare infrastructure, an increasing number of geriatric patients suffering from osteoporosis and other bone diseases, and increasing incidents of burn cases.

The United States Population Aging 2021, data reported that the number of Americans aged 65 and older will more than double over the next 40 years, reaching 80 million in 2040. The number of adults aged 85 and older, the group most often needing help with basic personal care, will nearly quadruple between 2000 and 2040. Thus, the increasing geriatric population increases the risk of fractures, thereby increasing the demand for fixators to fix the damaged bones, thus contributing to the market growth. Another reason for the increase in the demand for external fixators is the increase in osteoporosis disease among the United States geriatric population. For instance, in 2022 an article published in the Journal Frontiers in Endocrinology, titled, “The Global Burden of Osteoporosis, Low Bone Mass, and Its Related Fracture in 204 Countries and Territories” reported that approximately 10 million adults in the United States have osteoporosis, and 44 million have a low bone density (osteopenia) and 54 million Americans, half of all adults age 50 and older, are at risk of breaking a bone and should be concerned about bone health. Thus, the high cases of osteoporosis result in to increase in fractures and thus, increasing the demand for fixators thereby driving the market.

Recent acquisitions, mergers, launches, and technological advancements in the area are also contributing to the growth of this market in that area. For instance, in 2022, Orthofix Medical Inc. and LimaCorporate S.p.A. announced a licensing partnership to provide a solution to the United States market for patients suffering from chronic high dislocation of the hip. For another instance, in September 2021, Stryker introduced the new Citrelock Tendon Fixation Device System. This device enables the fixation without causing damage to the tendon during placement.

Thus, due to aforesaid mentioned reasons, the market is expected to show significant growth over the forecast period in the region.

Competitive Landscape

The external fixators market is fragmented in nature due to the presence of fewer companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known as Johnson & Johnson (DePuy Synthes), Orthofix Holdings, Inc., Ortho-SUV Ltd., Response Ortho LLC, Smith & Nephew, Stryker, and Zimmer Biomet.

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