Fracture Fixation Products Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Fracture Fixation Products Market is segmented By Type (Internal Fixation, External Fixation, Others), By Application (Bioabsorbable Fixators, Metallic Fixators, Others), By End-User (Hospitals, Specialty Clinics, Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

The Global Fracture Fixation Products Market reached US$ 9.1 billion in 2023 and is expected to reach US$ 16.34 billion by 2031, growing at a CAGR of 7.8% during the forecast period 2024-2031.

The basic goal of fracture fixation is to stabilize the fractured bone, to enable fast healing of the injured bone, and to return early mobility and full function of the injured extremity. Fractures can be treated conservatively or with external and internal fixation. Conservative fracture treatment consists of closed reduction to restore the bone alignment. Subsequent stabilization is then achieved with traction or external splinting by slings, splints, or casts.

During a surgical procedure to set a fracture, the bone fragments are first repositioned (reduced) into their normal alignment. They are held together with special implants, such as plates, screws, nails, and wires.

Market Scope

For more details on this report - Request for Sample

Market Dynamics: Drivers

Rising frequency of road accidents

The demand for the global fracture fixation products market is driven by multiple factors. The rising frequency of road accidents and sports involvement propels market growth 

Furthermore, the demand for fracture fixation products will be fueled by the growing awareness among people and technological advancements in the field of health care. 

For instance, according to the World Health Organization, Approximately 1.19 million people die each year as a result of road traffic crashes. 92%t of the world's fatalities on the roads occur in low- and middle-income countries, even though these countries have around 60% of the world's vehicles. Road traffic crashes cost most countries 3% of their gross domestic product. Males are typically 3 times more likely to be killed in road crashes than females. 

For instance, according to nih.gov, in road accidents, bilateral or multiple were the most commonly known sites of fractures. It is also observed that the most commonly fractured bone among males was the femur (28.2%) while a humerus fracture was the most common among females (20.8%). According to research, it is found that almost 80% of patients diagnosed with a fracture in primary care would be treated by installing casts, braces, or slings. Around 16% of patients who are injured in traffic accidents will experience disability. Orthopedic injuries are the most common type of injury and are the main factor in permanent disability.  Injuries to the musculoskeletal system are the leading cause of disability in KLL patients, especially femur fractures and open fractures of the tibia. Traffic accidents are also the leading cause of most fracture cases in developing countries.

Restraints

Factors such as high cost associated with the treatment, lack of healthcare infrastructure, lack of awareness among people, and shortage of skilled professionals are expected to hamper the market.

Market Segment Analysis

The global fracture fixation products Market is segmented based on type, application, end-user, and region.

The segment internal fixation product accounted for approximately 49.7% of the global fracture fixation products market share

The internal fixation product segment is expected to hold the largest market share over the forecast period. In this segment, the technological developments, and rising funds for private manufacturers would drive this market. 

For instance, in February 2024,  in partnership with AddUp, Anatomic Implants, a medical device startup in Washington, DC, announced its intention to submit a 510(k) clearance for the world’s first 3D-printed toe joint replacement. While the use of 3D-printed implants within the medical industry is not new, this collaboration could represent substantial progress in the field of orthopedics. Anatomic Implants has pioneered the development of what they claim is a revolutionary metatarsophalangeal (MTP) joint replacement, strategically utilizing titanium 3D printing technology. 

In September 2023, Stryker, one of the world’s leading medical technology companies, announced the launch of PROstep® MIS Lapidus, a new internal fixation system intended for treating bunions using a minimally invasive surgical reduction of hallux valgus deformity and subsequent fusion of the first metatarsal cuneiform joint.

Market Geographical Share

North America accounted for approximately 42.5% of the global fracture fixation products market share 

North America region is expected to hold the largest market share over the forecast period. The increasing number of fractures, technological advancements, increase in the geriatric population,  and growing awareness among people, in this region, help to propel the market. 

For instance, according to u.osu.edu, 6 million people in the United States break a bone each year. Fractures account for 16% of all musculoskeletal injuries in the U.S. annually. More than 40% of fractures occur at home (22.5% inside and 19.1% outside). Approximately 887,679 hospitalizations result each year from fractures. For instance, according to HealthInAging.org, Up to 300,000 older adults break their hips each year. Ninety percent of the time a fall causes these fractures. The risk of death is about 25 percent in the year after a hip fracture. One in four men and one in two women over age 50 will break a bone due to osteoporosis. This disease makes bones fragile. Osteoporosis affects people of all ethnic backgrounds. More than 2 million people in the United States have fractures related to osteoporosis.

For instance, in September 2023, Orthofix Medical Inc., a leading global spine and orthopedics company, announced the full U.S. commercial launch and successful completion of the first cases with the Galaxy Fixation Gemini™ system. The latest in the Galaxy product line, this stable external fixation system is provided in several sterile procedure kit configurations as a quick off-the-shelf solution for treating fractures that result from trauma in the lower and upper limbs. 

Market Segmentation

By Type

• Internal Fixation Product
• External Fixation Product
• Others 

By Application

• Bioabsorbable Fixators
• Metallic Fixators
• Others

By End-User

• Hospitals
• Specialty Clinics
• Others

By Region

• North America 
• The U.S.
• Canada
• Mexico 
• Europe
• Germany
• U.K.
• France
• Spain
• Italy
• Rest of Europe 
• South America
• Brazil
• Argentina
• Rest of South America 
• Asia-Pacific 
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 
• Middle East and Africa

Market Competitive Landscape

The major global players in the global fracture fixation products market include Stryker Corporation, Zimmer Biomet, Synthes Inc., Sonoma Orthopaedic Products Inc., Medtronic, Wright Medical Group N.V, Orthofix Medical Inc., Integra LifeSciences, Arthrex Inc., Smith & Nephew plc. among others.

Key Developments

• In March 2024, Stryker, a global leader in medical technologies, announced the release of its Gamma4 Hip Fracture Nailing System in most of the European markets. The newest Gamma system will provide surgeons with the next generation of Stryker’s intramedullary nailing system. The Gamma4 system is designed to treat hip and femur fractures and streamline procedural workflows for surgeons. 
• In October 2023, DePuy Synthes, the orthopedic device business of Johnson & Johnson, won FDA 510(k) clearance for its TriLeap lower extremity anatomic plating system. TriLeap offers a wide range of plate options tailored for various procedures and screw diameters, according to DePuy Synthes. Its instruments can be used during the reduction, internal fixation, and fusion of bones and bone fragments.
• On August 8, 2023, Enovis Corp. acquired Novastep SAS and its foot and ankle minimally invasive surgical (MIS) platform from Amplitude Surgical SAS for €68 million.

Why Purchase the Report?

• To visualize the global fracture fixation products market segmentation based on type, application, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of global fracture fixation products market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping is available in Excel consisting of key products of all the major players.

The global fracture fixation products market report would provide approximately 51 tables, 54 figures, and 181 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies