External fixators are medical devices used in orthopedic traction for the repositioning of bones or bone fragments for skeletal injuries. External fixators are made of miniature screws or pins inserted into the bone above and below the fracture site and connected together by carbon rods outside the skin for the benefit of a less invasive surgery. The devices are known to eliminate pinsite infections and associated pain, provide stability through an invisible brace and significantly reduced hospital stay and recovery time.
The global External Fixators Market is estimated to be valued at US$ 1145.44 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Advances in external fixation techniques have significantly boosted the external fixators market growth over the past decade. Development of minimally invasive techniques allows bones to heal without the need for open reduction which reduces surgical trauma and post-operative pain. New generation devices are equipped with combination pins made of metals such as stainless steel and titanium which are corrosion resistant and non-allergenic. Research on application-specific external fixators has led to inventions of railroad fixation devices for lower extremity injuries and circular fixators which provide angular stability and multidirectional fixation for complex fractures. Biplane fixation method using tensioned wires incorporated in modern fixators enables three-dimensional stabilization of bone fragments. Such innovations in external fixation methods have increased adoption rates globally and are expected to further propel the external fixators market expansion during the forecast period.
Segment Analysis
The global external fixators market demand is segmented by type into unilateral fixators and circular fixators. The circular fixators segment is projected to dominate the market during the forecast period. Circular fixators provide 360-degree fixation and rigid stability which makes them a preferred choice for treatment of fractures involving multiple bone segments.
Key Takeaways
The global external fixators market is expected to witness high growth over the forecast period of 2023 to 2030. The global External Fixators Market is estimated to be valued at US$ 1145.44 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.
The external fixators market in North America is expected to grow at a fastest pace during the forecast period. Higher adoption of advanced trauma technologies, growing number of trauma cases, and presence of key players in the region are driving market growth.
Key players
Key players operating in the external fixators market are Boeing, General Atomics, Israel Aerospace Industries Ltd, Northrop Grumman and Lockheed Martin Corporation. Boeing is one of the major players in the market and provides a wide range of external fixators for clinical applications.
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