Osteosynthesis Devices Market Summary
The global osteosynthesis devices market was estimated at $9.06 billion in 2021 and is expected to hit $14.21 billion by 2031, registering a CAGR of 4.6% from 2022 to 2031.
Osteosynthesis is the reduction and internal fixation of a bone fracture with an implant that is usually made of metal. The goal of osteosynthesis is to stabilize and join the ends of a broken bone after a fracture. Bone fragments are stabilized by using mechanical devices.
The rise in the demand for osteosynthesis devices and the increase in the prevalence of osteoarthritis and osteoporosis in the elderly population is the major key factor that drives the growth of the market.
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These mechanical devices are known as osteosynthesis devices. This osteosynthesis device allows for complete or partial healing of the muscles and joint function. Once the bone fragments are stable, the osteosynthesis device can either be removed or left in. If the procedure consists of an internal fixation, then the osteosynthesis device can be left inside the body and if the procedure consists of an external fixation, then the osteosynthesis device can be removed. The surgical procedure is performed by employing an open or percutaneous approach to the fractured bone.
Osteosynthesis Devices Market Segmental Overview
The global osteosynthesis devices market is analyzed across device type, fracture type, end-users, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By device type, the internal fixation devices segment held the largest share in 2021, garnering more than two-thirds of the global osteosynthesis devices market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 4.9% during the forecast period.
By fracture type, the hip fracture segment contributed to more than one-fourth of the global osteosynthesis devices market share in 2021 and is projected to rule the roost by 2031. The same segment would also showcase the fastest CAGR of 5.5% during the forecast period.
By end-user, the hospitals segment accounted for the highest share in 2021, generating more than two-fifths of the global osteosynthesis devices market revenue. The same segment would also portray the fastest CAGR of 5.2% during the forecast period.
By region, the market across North America held the major share in 2021, garnering more than two-fifths of the global osteosynthesis devices market revenue. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 5.9% from 2022 to 2031. The other provinces studied through the report include Europe and LAMEA.
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Key Market Players:
The key market players analyzed in the global osteosynthesis devices market report include Zimmer Biomet Inc., Arthrex, Inc., Johnson & Johnson (DePuy Synthes, Inc.), Inc., GS Solutions, Inc., Life Spine, Inc., Medtronic plc, Precision Spine, Inc, Globus Medical, Smith & Nephew, and Stryker Corporation. These market players have embraced several strategies including product launch, product development, and product approval to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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