LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global fracture fixation products market predicts the market to witness a CAGR of about 8% during the forecast period. This research report segments the market by product (internal fixation products, and external fixation products), application (lower extremities, and upper extremities) and geography (North America, Europe, Asia, and ROW).
Growing popularity of bioabsorbable fixators
Bioabsorbable fixators are gaining immense popularity across the world, as they are ultra-strength devices manufactured with polymers such as polyglycolic acid and polylactic acid. These products are widely used in orthopedic, trauma, and craniomaxillofacial surgeries for stabilization of fractured bones, bone grafts, fusions, and osteotomies, and for reattachment of tendons, meniscal tears, ligaments, and other soft tissue structures. These implants can be completely absorbed inside the body, which eliminates the implant removal post-operative surgery, and avoids long-term interference with tendons, nerves, and the growing skeleton. Such advantages of bioabsorbable fixators will increase their demand, thereby, fueling the growth of the global fracture fixation products market size during the next five years.
Internal fixation products segment will garner the highest share.
Internal fixation products were the largest product segment of the global fracture fixation products market in 2018 and this segment is expected to grow faster than the overall market during the forecast period. Internal fixation products such as screws, bone plates, and rods are surgically implanted to repair a fractured bone. These products are made of stainless steel, titanium, tritium, nitinol, and polyether ether ketone (PEEK) materials, which are durable, stable, and flexible enough to provide support to the bones for quick recovery from a medical condition. Therefore, the adoption of internal fixators is expected to increase significantly during the forecast period, thereby, fueling the fracture fixation products market growth.
“The demand for internal fixators is expected to increase at a significant rate over the next five years, mainly due to factors such as the increasing number of trauma and accident cases, high demand for internal fixators that offer quick recovery, and the growing use of robotic-assisted surgery for placing internal fixators to avoid complications,” says a senior research analyst at Technavio.
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Fracture fixation products to witness fastest adoption in Asia.
Asia is expected to emerge as the fastest growing region of the global fracture fixation products market during the forecast period, with Japan, China, Singapore, India, and South Korea being the major revenue contributors. The fracture fixation products market in Asia is driven by the rise in healthcare expenditure, growing aging population, increasing cases of osteoporosis and accidents. The high demand for orthopedic surgeries, and increasing supportive initiatives by various organizations are also contributing to the growth of the fracture fixation products market.
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Some of the key topics covered in the global fracture fixation products market analysis include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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