IoMT (Internet of Medical Things) to accelerate the External Fixators Market

Published On : 11/25/2021

The External Fixators Market is estimated to witness stupendous growth in the years to come. AI is already into the disruption mode regarding the healthcare vertical. Machine learning is used for displaying the relevant info about health in the mobile app. The application of AI in healthcare is better known as “Augmented Intelligence”. This would be the running trend in the healthcare vertical in the upcoming period.

The External Fixators Market is bound to reach US$ 3,126.5 Million at a CAGR of 8.5% between 2028. The modern-day situation says that the healthcare sector is witnessing an optimization and reposition of the business models to obtain enhanced patient outcomes. With real-time analytics known to improve patient care and the fact that consumers are shifting towards the preventive model of care, the healthcare vertical is likely to witness greater strides in the forecast period.

As per a recent report by Persistence Market Research (PMR), increasing prevalence of osteoporosis and incidences of accidental fracture are pegged to be the two major factors pushing the adoption of external fixators, globally. The global external fixators market is projected to expand at an impressive 8.5% CAGR over the forecast period of 2018–2028 and the market valuation is expected to reach US$ 3,126.5 Mn through 2028.

Innovative and technologically advanced external fixators are expected to boost the growth of the global external fixators market over the forecast period.

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Company Profiles

• Johnson & Johnson Services, Inc. (DePuy Synthes)
• Stryker Corporation
• Zimmer Biomet Holdings, Inc.
• Smith & Nephew plc
• Orthofix International N.V.
• Ortho-SUV Ltd.
• Response Ortho LLC
• Tasar?mmed T?bbi Mamüller San. Tic. Ltd

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Emerging Markets: A Hotbed of Opportunities for External Fixators Manufacturers

North America is anticipated to hold nearly 35% share of the global external fixators market. However, on the basis of comprehensive regional analysis, Australia & New Zealand are likely to present most lucrative growth opportunities in Asia Pacific market, followed by Latin America and the MEA. China and Japan are expected to be fast growing markets in the global external fixators market.

External fixation devices manufacturers are focusing on emerging markets owing to increased procedural awareness coupled with sophisticated diagnostics capabilities in these regions, fueled by growing demand for quality and affordable healthcare.

Moreover, the top four players in the global external fixators market including Smith & Nephew, Zimmer, Stryker Corporation, and DePuy Synthesis contribute nearly 50% share of the overall market share, making the market very consolidated. Moreover, since most of these major players have strong hold in North America region, with wide spread distribution network, products have been easily accessible to end-users in the region.

However, an absolutely consolidated global external fixators market results in high-priced devices. External fixators are likely to be more competitively priced owing to the emergence of other competitors.

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Technologically Advanced Procedures to Fuel External Fixators Adoption

Orthopedic treatments have transitioned from conventional invasive procedures to minimally-invasive procedures that guarantees early return-to-motion with lesser chances of infection like issues related to pin tract infections and neurovascular surgery, and lower levels of soft tissue disturbance.

The computer-assisted external fixators have built upon the strengths of the traditional external fixators by increasing the device versatility and ease of use in complex cases. As per PMR analysis, computer-assisted external fixators are likely to find increased worldwide adoption, expanding at a high CAGR, in the coming years.

“Alternative treatment options for orthopedic disorders, such as such bone glue for joint replacement, may hamper the growth of the global external fixators market. Although, manufacturers of external fixators are focusing on new product development, stringent regulations and lengthy approval process makes market-entry difficult for new products—turning patients to alternative options.

Developing surgical-site infections (SSIs) varies, greatly prevalent with orthopedic trauma surgeries compared to other surgical specialties, is an important factor hampering the growth of the global external fixators market” Consultant, Healthcare Industry, Persistence Market Research

Acquisitions, mergers, expansion, launches and agreements are the key strategies adopted by external fixators’ manufacturers to increase the sale of their products in different geographies. Manufacturers are also focusing on NPD to strengthen their product portfolio in the Asia Pacific region in order to expand their market footprint in the emerging economies. Manufacturers are creating patient-specific devices with complex internal structures, using 3D printing. 3D printing is revolutionizing the orthopedic industry, which will in turn, propel the global external fixators market.

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Uma Rajagopal

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.